Wall Street Analysts Just Upgraded These Hot Stocks: UBER, LOGI, DASH, APLS

Key Points

  • An improving environment for peripherals is creating a buy opportunity for Logitech.
  • Shares of DoorDash (NASDAQ: DASH) were just upgraded to an outperform rating by JPMorgan.
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By Ian Cooper
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Wall Street Analysts Just Upgraded These Hot Stocks: UBER, LOGI, DASH, APLS

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U.S. stocks pared early gains on Wednesday, with the Dow slipping despite robust bank earnings from Bank of America and Morgan Stanley, fueled by trading windfalls. The S&P 500 edged up 0.21% to 6,658.43, while the Nasdaq surged 0.39% to 22,608.73, propelled by AI chip leaders Nvidia, Intel, and AMD. A $40 billion BlackRock-led buyout of a major data-center firm underscored tech’s momentum.

Uber 

Analysts at Guggenheim just upgraded Uber (NYSE: UBER) to a buy rating with a price target of $140 a share.

“Our BUY thesis is underpinned by the company’s asset base consisting of industry-leading 1) network, 2) technology, and 3) brand equity. Uber’s multi-platform network is >3x that of next ‘Gig’ peer, with reach positioning the Rideshare leader for increased Autonomous Vehicle (AV) adoption,” said the firm, as quoted by CNBC.

Last trading at $94.25 as of Tuesday’s close, we’d like to see the ride-sharing stock initially retest its recent high of $100.18 a share.

Logitech 

An improving environment for peripherals is creating a buy opportunity for Logitech (NASDAQ: LOGI), says Citi, as noted by CNBC.

Analysts upgraded the LOGI stock to a “buy” rating from a “neutral” rating. “We’re upgrading LOGI to Buy from Neutral with a TP of $130 (ETR of ~25%),” said the firm. “Peripheral demand should benefit given positive PC data points with checks suggesting constructive Videoconferencing equipment demand amidst return to office, and strong gaming peripherals demand.”

Last trading at $104.94, we’d like to see LOGI initially retest $115 a share.

DoorDash 

Shares of DoorDash (NASDAQ: DASH) were just upgraded to an outperform rating by JPMorgan, which is bullish on DASH’s future following its acquisition of Deliveroo.

“Following the acquisition, DoorDash now operates in 45 countries with a combined population of over a billion. It serves more than 700,000 local businesses and 50 million monthly active users, with Deliveroo having contributed around seven million,” noted CNBC.

Apellis Pharmaceuticals 

Wells Fargo just upgraded Apellis Pharmaceuticals (NASDAQ: APLS) to an overweight rating, with a price target of $32 a share. The firm cited “stabilizing Syfovre sales and its confidence in Empaveli’s launch following a doctor survey for the upgrade. The shares could rally 15%-20% on Empaveli’s growth,” as highlighted by Tip Ranks.

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