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Tuesday's Top Analyst Upgrades and Downgrades: ADM, Boeing, Dow, Netflix, Splunk, Spotify, T-Mobile, Walmart and More
February 7, 2023 8:44 am
Last Updated: February 7, 2023 8:51 am
Seagen Inc. (NASDAQ: SGEN): SVB Securities downgraded the stock to Market Perform from Outperform. The analyst also lowered the $162 target price to $141, well below the $162.57 consensus target. The shares closed on Monday at $136.
Splunk Inc. (NASDAQ: SPLK): KeyBanc Capital Markets upgraded the stock to Overweight from Sector Weight and has a $130 target price. The consensus target is lower at $111.37. The shares closed on Monday at $103.81.
Spotify Technology S.A. (NYSE: SPOT): Wells Fargo upgraded shares of the music streaming giant to Overweight from Equal Weight. Its $121 price target is now up at $180. The consensus target is $120.99, and the stock closed on Monday at $122.97.
STAG Industrial Inc. (NYSE: STAG): BMO Capital Markets started coverage with an Outperform rating and a $41 target price. The consensus target is $36.59. The shares finished Monday’s session at $36.35.
T-Mobile US Inc. (NASDAQ: TMUS): MoffettNathanson downgraded the stock to Market Perform from Outperform and has a $174 target price. The consensus target is $178.45. The shares closed on Monday at $141.97.
24/7 Wall St.Vale S.A. (NYSE: VALE): RBC Capital Markets downgraded the stock to Sector Perform from Outperform and trimmed its $16 target price to $15. The consensus target is $18.89. Monday’s close was at $16.96.
Virtus Investment Partners Inc. (NASDAQ: VRTS): Piper Sandler downgraded the stock to Neutral from Overweight and has a $248 target. The consensus target is $199.00. On Monday, shares close over 11% lower at $216.90 despite a solid quarterly report.
Walmart Inc. (NYSE: WMT): Oppenheimer reiterated an Outperform rating with a $160 target price. The consensus target is $161.56. Shares were last seen on Monday trading at $140.68.
Five top Goldman Sachs Conviction List stock picks have 50% to 75% upside to the firm’s target prices. Growth investors concerned about market and economic uncertainty may want to have these stocks in their portfolios for the rest of the year.
Monday’s top analyst upgrades and downgrades included Bill.com, Boeing, Cardinal Health, Cognizant Technology Solutions, ConocoPhillips, C3.ai, Enphase Energy, Ford, International Paper, Meta Platforms, Nordstrom, Spirit Aerosystems and Upstart.
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