Monday's Top Analyst Upgrades and Downgrades: Coca-Cola, Harley-Davidson, Johnson & Johnson, Microsoft, Nike, Tesla and More

Nike Inc. (NYSE: NKE): Zacks named this as its Bear of the Day stock. The analyst suggests that its post-earnings drop is part of a much longer downturn. The stock has traded as high as $179.10 in the past year but closed most recently at $87.55. That is down more than 34% in the past six months.

Organon & Co. (NYSE: OGN): The BofA Securities downgraded was to Underperform from Neutral, and it trimmed the $27 target price to $25. The consensus target is $35.86. The stock closed 3% lower on Friday at $23.31.

Parker-Hannifin Corp. (NYSE: PH): Citigroup resumed coverage with a Neutral rating and a $285 target. The consensus target is $319.88. The stock closed at $254.24 on Friday.

QuidelOrtho Corp. (NASDAQ: QDEL): UBS lifted its Sell rating to Neutral with an $86 target price. The consensus target is up at $122.67. The last trade Friday came in at $76.29.

ServiceNow Inc. (NYSE: NOW): Goldman Sachs cut its $752 price target on the Buy-rated shares to $640. The consensus for the stock is just $552.94. Friday’s close at $341.76 was down close to 6% on the day.

Tesla Inc. (NASDAQ: TSLA): Wells Fargo reiterated an Equal Weight rating but lowered its $280 target price to $230. The consensus target is $294.78. The stock closed almost 8% lower on Friday at $204.99.

TPG Inc. (NASDAQ: TPG): Exane BNP Paribas downgraded the shares from Outperform to Neutral with a $32 target price. The consensus target is $33.50 for now. The stock closed Friday at $27.60, down close to 6% for the day on no negative news we could source, aside from the dreadful tape.

Trex Co. Inc. (NYSE: TREX): The Neutral rating at Credit Suisse dropped to Underperform, and the $65 target price was lowered to $43. The consensus target is $61.69 for now. The stock closed down almost 8% on Friday at $45.22.

Workday Inc. (NASDAQ: WDAY): Goldman Sachs maintained a Buy rating but decreased its $260 target price to $230. That compares with the $217 consensus target and Friday’s close at $139.59.

There is potential for more market downside, so this may hardly seem like the time to get aggressive on technology. However, for investors looking to buy while there is “blood in the streets,” Goldman Sachs has six top software stocks it likes for a market recovery.

Friday’s early top analyst upgrades and downgrades included Altice USA, Apple, Colgate-Palmolive, Marathon Petroleum, Mastercard, Medtronic, Meta Platforms, Nike, Prologis, Realty Income, SLM, Tenaris and Visa. Analyst calls seen later in the day were on Alkermes, AppLovin, Delta Air Lines, Micron Technology, Stanley Black & Decker and more.

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