Wednesday's Top Analyst Upgrades and Downgrades: Carvana, Coinbase, Etsy, GE Healthcare, Home Depot, Royal Caribbean, Warner Bros Discovery and More

PNM Resources Inc. (NYSE: PNM): Siebert Williams Shanks upgraded the stock to Buy from Hold. It also lifted its $53 target price to $55, while the consensus target is $50.38. The shares closed on Tuesday at $45.19.

Rayonier Inc. (NYSE: RYN): Truist Financial started coverage with a Hold rating and a $33 price objective. The consensus target is $34.50. The shares closed on Tuesday at $29.21.

Royal Caribbean Cruises Ltd. (NYSE: RCL): The Hold rating at Argus is now at Buy, and its $88 target price is above the $84.31 consensus target and Tuesday’s close at $76.45.

Veris Residential Inc. (NYSE: VRE): Deutsche Bank’s upgrade to Buy from Hold came with a price target hike to $19 from $15. The consensus target is $17.50. The stock closed on Tuesday at $16.30.

Vornado Realty Trust (NYSE: VNO): Citing the impact of interest rates and regional bank concerns, Zacks named this real estate investment trust as its Bear of the Day stock. Shares have traded as high as $35.65 in the past year but closed most recently at $12.38. That is down more than 40% year to date.

Warner Bros. Discovery Inc. (NYSE: WBD): Barrington Research’s upgrade was from Market Perform to Outperform with an $18 target price. The consensus target is $20.82, and shares closed on Tuesday at $12.15, down close to 5% for the day.

Williams Companies Inc. (NYSE: WMB): Citigroup lifted its Neutral rating to Buy with a $36 target price. The consensus target is $36.73, and Wednesday’s close was at $28.65.

XP Inc. (NYSE: XP): Goldman Sachs nudged its $20 target on the Buy-rated shares to $22. The $18.94 consensus target is closer to Tuesday’s $15.96 close.

With the federal funds rate likely close to the top end of the range, and possibly headed lower next year, aggressive growth and income investors may want to consider BDC, MLP, REIT and other stocks that offer generous and dependable passive income and could be absolute total return home runs.

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Tuesday’s top analyst upgrades and downgrades included Albemarle, Alphabet, BorgWarner, Catalent, Charles Schwab, DuPont de Nemours, Goodyear Tire & Rubber, LXP Industrial Trust, Meta Platforms, SoFi Technologies and Tapestry.

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