Investing
Tuesday's Top Analyst Upgrades and Downgrades: Airbnb, Amgen, Arm, Delta Air Lines, Match, Oracle, PayPal, Spotify and More
Published:
Last Updated:
The futures were mixed after a wild Monday to open the week following the attack on Israel over the weekend that has left over 1,200 dead so far. All the major indexes closed the day higher, after a big selloff to start the day on the terrible news from Israel. The S&P 500 was the winner on the day. It closed up 0.63% at $4,335.66, while the Dow Jones industrials closed up 0.59% at $33,604.65. The Nasdaq closed up 0.39% at $13,484.24.
With the jobs data from Friday in the books, all eyes are starting to turn toward third-quarter reports that will begin this week. Delta Air Lines, JPMorgan and PepsiCo are three legacy blue chips that will be reporting. Wall Street analysts increased earnings expectations for 10 of the 11 S&P 500 sectors. And it is a good bet that companies that come in light or give poor forward guidance could get hit hard.
The Treasury bond market was closed on Monday for the Columbus Day holiday. Yields were falling Tuesday morning, as the market reopened and traders and investors rushed to the safe-haven debt.
Brent and West Texas Intermediate crude both closed over 4% higher, as the Hamas attacks increased worries of Middle East production disruptions. Brent finished Monday at $88.22, while WTI closed at $86.38. Natural gas also had a winning start to the week. It was up another 1.14% at $3.38 as a massive cold front sweeps across parts of the nation.
Gold prices were higher again on Monday, after breaking a nine-day losing streak on Friday. The Hamas attack was once again cited for the rush to the safe haven asset. Traders also pointed to the solid bounce off support as a positive for the bullion. The December futures contract closed the day at $1,875.10, up 0.58%. Bitcoin had a rough start to the week, closing down 1.2% at $27,598.
24/7 Wall St. reviews dozens of analyst research reports each weekday with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, October 10, 2023.
Airbnb Inc. (NASDAQ: ABNB): Barclays resumed coverage with an Equal Weight rating and a $141 target price. The consensus target is $142.73. Monday’s closing share price was $127.77.
Amgen Inc. (NASDAQ: AMGN): Oppenheimer reiterated an Outperform rating with a $290 price target. The consensus target is $264.74. Monday’s final trade was for $271.54 a share.
Aramark Corp. (NYSE: ARMK): Though Jefferies upgraded the stock to Buy from Hold, its $44 target price dropped to $29. The consensus target is $35.64. Monday’s close was at $25.01.
Arm Holdings PLC (NASDAQ: ARM): Goldman Sachs initiated coverage with a Buy rating and a $62 target price. Citigroup started coverage with a Buy rating and a $65 target, while BMO Capital Markets initiated coverage with a Market Perform rating and a $60 target. The consensus is not available as the underwriters just came out of the quiet period following the IPO. The stock closed on Monday at $54.25.
Datadog Inc. (NASDAQ: DDOG): BofA Securities downgraded the shares to Neutral from Buy. The analyst also cut the $123 target price to $105, below the $106.67 consensus target. Monday’s $90.73 closing print was down over 4% for the day due to the downgrade and soft tape.
Delta Air Lines Inc. (NYSE: DAL): Citing falling estimates, Zacks selected this as its Bear of the Day stock. Shares have traded as high as $49.81 in the past year but closed most recently at $35.28. That is down more than 26% in the past 90 days.
Duolingo Inc. (NASDAQ: DUOL): Barclays resumed coverage with an Equal Weight rating and a $149 target price. The consensus target is up at $165.67. Monday’s $174.24 close was up 6% on the day.
Humana Inc. (NYSE: HUM): Jefferies reiterated a Buy rating and has a $586 target price. The consensus target is $584.87. The stock closed on Monday at $501.54.
Lennox International Inc. (NYSE: LII): Goldman Sachs issued a rare double upgrade, from Sell to Buy. The $332 target price jumped to $455 as well. The consensus target is $378.27. Monday’s close was at $372.19.
Match Group Inc. (NASDAQ: MTCH): Barclays resumed coverage with an Overweight rating and a $56 target price. The consensus target is $56.20. Monday’s final trade was for $37.42 a share.
Motorola Solutions Inc. (NYSE: MSI): BofA Securities started coverage with a Buy rating and a $330 target price. The consensus target is $312.80. On Monday, the stock closed 3% higher at $286.31 after the coverage.
MSC Industrial Co. Inc. (NYSE: MSM): as Loop Capital upgraded the shares to Buy from Hold, its $96 target price rose to $124. The consensus target is $103.83. Monday’s close was at $101.32.
On Holding AG (NYSE: ONON): Baird upgraded the stock to Outperform from Neutral and has a $33 target price. The consensus target is $36.47. Shares closed on Monday at $25.20.
Oracle Corp. (NYSE: ORCL): Evercore ISI’s upgrade to Outperform from In Line included a target price bump to $135 from $131. The consensus target is $131.16, and Monday’s close at $110.32.
Patterson-UTI Energy Inc. (NASDAQ: PTEN): Citigroup lifted its Neutral rating to Buy and its $15 price target to $18. The consensus target is $18.59. The stock closed on Monday at $13.22. That was up almost 8% for the day, after the upgrade and positive analyst commentary.
PayPal Holdings Inc. (NASDAQ: PYPL): Jefferies reiterated a Hold rating with a $60 target price. The consensus target is higher at $84.68. The shares closed on Monday at $56.96.
Spotify Technology S.A. (NYSE: SPOT): Redburn Atlantic’s downgrade to Neutral from Overweight came with a target price trim to $160 from $170. The consensus target is $173.29. Monday’s $156.45 close was down by almost 3% for the day on the downgrade.
Tecnoglass Inc. (NASDAQ: TGLS): Stifel reiterated a Buy rating with a $57 target price. That compares with a $55 consensus target and Monday’s close at $34.31.
Tenable Inc. (NASDAQ: TENB): Barclays downgraded the stock to Equal Weight from Overweight while lowering its $51 target price to $47. The consensus target is $54.94. The downgrade had the shares 3% lower at Monday’s close of $44.88.
Unity Software Inc. (NYSE: U): Barclays resumed coverage with an Equal Weight rating and a $42 target price. The consensus target is higher at $44.07, but Monday’s close was at $29.70.
Zscaler Inc. (NASDAQ: ZS): Barclays upgraded the stock to Overweight from Equal Weight. The consensus target is $185.50. The shares closed on Monday at $168.86, more than a 3% gain for the day due to the upgrade.
Four Wall Street favorite large cap companies are expected to raise their dividends this week, showing that they are doing well and have the earnings and cash flow strength to increase their payouts.
Monday’s top analyst upgrades and downgrades included Block, Comcast, Fox, Global Payments, Kinder Morgan, MPLX, Netflix, Nvidia, PayPal, Shoals Technologies and Walt Disney.
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
