Investing
Markets Pump the Brakes After Thursday Rally: Analysts Upgrade or Downgrade Intel, Occidental, Roku and More

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Markets were somewhat mixed going into the weekend. The Nasdaq was pushing higher by nearly 1% while the Dow Jones industrial average was lagging by just as much. The S&P 500 was more or less on the sideline, holding even for the day. All this comes after the broad markets’ single biggest daily gain since 2020.
All three major averages jumped on Thursday after the consumer price index print showed that the worst of inflation might be behind us. This data proved to have a cascading effect across the markets, because as inflation abates the Federal Reserve will be less likely to hike interest rates and companies can get back to business as usual. The Nasdaq, S&P 500, and Dow jumped 7.4%, 5.5% and 3.7%, respectively.
Here, 24/7 Wall St. is reviewing additional analyst calls seen on Friday. 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 Activision Blizzard, Altria, Palo Alto Networks, Rivian, Salesforce and more.
DCP Midstream L.P. (NYSE: DCP): Wells Fargo downgraded the stock from Overweight to Equal Weight with a $39 price target. The shares traded near $39 on Friday. The 52-week range is $23.58 to $40.23.
Freeport-McMoRan Inc. (NYSE: FCX): Scotiabank’s downgrade was from Sector Outperform to Sector Perform with a $34 price target. The shares traded near $39 on Friday. The 52-week range is $24.80 to $51.99.
GoDaddy Inc. (NYSE: GDDY): J.P. Morgan initiated coverage with an Overweight rating and an $89 price target. The stock was last seen trading near $74, in a 52-week range of $64.65 to $88.32.
GSK PLC (NYSE: GSK): UBS cut its Neutral rating to Sell. The stock traded near $31 on Friday, in a 52-week range of $28.47 to $46.97.
Intel Corp. (NASDAQ: INTC): J.P. Morgan’s downgrade to Underweight from Overweight included a price target cut to $32 from $64. Shares traded near $30 on Friday, in a 52-week range of $24.59 to $56.28.
L3Harris Technologies Inc. (NYSE: LHX): BofA Securities downgraded the shares to Neutral from Buy, and it cut the $285 price target to $250. The stock traded near $223 on Friday, in a 52-week range of $200.71 to $279.71.
Occidental Petroleum Corp. (NYSE: OXY): Piper Sandler downgraded it to Neutral from Overweight and cut its $78 price target to $76. The 52-week trading range is $26.05 to $77.13, and the share price was near $74 on Friday.
Roku Inc. (NASDAQ: ROKU): Jefferies initiated coverage with a Hold rating and a $45 price target. Shares have traded as high as $279.30 in the past year but were changing hands near $58 on Friday.
Six Flags Entertainment Corp. (NYSE: SIX): William Blair’s downgrade was to Market Perform from Outperform. The stock has traded as high as $47 a share in the past year but was last seen trading around $22. That is down over 49% year to date.
Spirit AeroSystems Holdings Inc. (NYSE: SPR): As BofA Securities cut its Buy rating to Underperform, it also sliced its $49 price target to $26. The stock has traded as high as $53 a share in the past year but was last seen near $28. That is down nearly 32% year to date.
Sprouts Farmers Market Inc. (NASDAQ: SFM): MKM Partners downgraded the stock to Neutral from Buy and has a $38 price target. The 52-week trading range is $22.56 to $35.34. Shares changed hands near $33 apiece on Friday.
TuSimple Holdings Inc. (NASDAQ: TSP): Truist’s Buy rating was lowered to Hold. The 52-week trading range is $2.22 to $43.79. Shares changed hands near $3 apiece on Friday.
VBI Vaccines Inc. (NASDAQ: VBIV): The Raymond James downgrade to Outperform from Strong Buy came with a price target cut to $2 from $5. The stock traded near $0.60 on Friday, in a 52-week range of $0.55 to $3.42.
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