Investing

A Recovery in the Works? Analysts Upgrade or Downgrade Carvana, Cleveland-Cliffs, Target and More

Tuesday’s additional top analyst upgrades and downgrades were on Carvana, Cleveland-Cliff, EOG Resources, International Paper, Juniper Networks, MongoDB, Target, UiPath and more.

By Chris Lange
Published October 18, 2022, 10:45am ET · 3 min read

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

An extreme close-up, angled view of a glowing blue digital stock market screen. Pixelated white numbers, including '211.71', '981.15', and '565.5', are visible, alongside multiple bright green upward-pointing arrows and one red downward-pointing arrow, indicating various stock movements.
A digital display shows dynamic stock market data, with both gains and losses reflecting current financial trends. © MicroStockHub / iStock via Getty Images

Markets continued their rally on Tuesday on the back of even more strong earnings hitting the tape. The Nasdaq again was the best-performing index, up 1.8%, while the S&P 500 and the Dow Jones industrials were each up 1.7% each.

Goldman Sachs gave a solid boost to the Dow with its better-than-expected earnings. However, despite this good news, the investment bank’s CEO David Solomon noted that there is a “good chance” that the U.S. economy will enter a recession next year.

The question remains whether equities finally are in recovery, or is this just another bear market rally on the long way down?

Here, 24/7 Wall St. is reviewing additional analyst calls seen on Tuesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Apple, Chipotle, Citigroup, Kroger, Salesforce and more.

Acushnet Holdings Corp. (NYSE: GOLF): Roth Capital downgraded this stock to Neutral from Buy and cut its $62 price target to $45. The 52-week trading range is $37.46 to $57.87, and the share price was near $45 on Tuesday.

Carvana Co. (NYSE: CVNA | CVNA Price Prediction): Wedbush’s downgrade was to Neutral from Outperform, and it slashed the $50 price target to $15. Shares have traded as high as $309.50 in the past year but were changing hands near $19 on Tuesday.

Cleveland-Cliffs Inc. (NYSE: CLF): Exane BNP Paribas dropped its Neutral rating to Underperform with a $14.30 target price. The stock was last seen trading near $15, in a 52-week range of $12.90 to $34.04.

EOG Resources Inc. (NYSE: EOG): Goldman Sachs upgraded the shares to Buy from Neutral and raised the $125 price target to $143. Shares traded near $124 on Tuesday, in a 52-week range of $80.67 to $147.99.

International Paper Co. (NYSE: IP): Deutsche Bank’s downgrade to Sell from Hold included a price target cut to $29 from $44. The shares traded near $34 on Tuesday. The 52-week range is $30.69 to $53.96.

Juniper Networks Inc. (NYSE: JNPR): Piper Sandler’s upgrade was to Neutral from Underweight, with the $27 price target bumped up to $29. The 52-week trading range is $25.18 to $38.14. Shares changed hands near $27 apiece on Tuesday.

MongoDB Inc. (NASDAQ: MDB): Redburn upgraded it to Neutral from Sell. Shares were last seen trading near $192. The 52-week range is $166.61 to $590.00.

Target Corp. (NYSE: TGT): As Jefferies upgraded the stock to Buy from Hold, it raised its $170 price target to $185. The 52-week trading range is $137.16 to $268.98. Shares changed hands near $157 apiece on Tuesday.

UiPath Inc. (NYSE: PATH): Barclays downgraded the shares to Equal Weight from Overweight and cut the price target to $17 from $15. Shares traded near $12 on Tuesday, in a 52-week range of $11.10 to $59.57.


Three top oil exploration and production leaders have variable dividend plans, meaning they increase payments to shareholders when oil prices are higher. Their stocks have dropped dramatically since the summer, and they look poised for big total return potential in 2023.

Contact [email protected] for any questions or corrections.

1INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).2The probability of a member receiving $3,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Members must fund their account with a minimum of $50.00 to qualify. The probability percentage is subject to decrease. Members are only eligible for the Stock Award promotion upon opening their first brokerage account; subsequent cash brokerage accounts are ineligible for the promo, including for members with multiple accounts.

3Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

4There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Chris Lange

Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.

His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.

When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.

All articles →