As the stock market remains volatile, TipRanks brings you the latest analyst action on some of your favorite stocks. Let’s look into the notable bullish and bearish calls of the day and see what the top analysts are recommending.
Upgrades
Wedbush analyst Nick Setyan upgraded Starbucks (SBUX) stock to Buy from Hold and increased the price target to $124 from $108. In a note to investors, Setyan said, “We believe upside exists to current FQ2 and FY21 estimates.” He added that “a high level of visibility into longer-term annual growth targets exists.”
Furthermore, TipRanks data shows that financial blogger opinions are 89% Bullish versus a sector average of 66%.
Merrill Lynch analyst Elizabeth Lane Suzuki upgraded Petco Health and Wellness Company (WOOF) to Buy from Hold after the company reported strong 4Q results and provided an initial outlook for 2021 that came in ahead of the Street’s expectations. The analyst believes that Petco is well-positioned to continue to benefit from secular industry tailwinds and favorable pet adoption trends. Meanwhile, the analyst maintained a price target of $28.
Furthermore, WOOF scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
Jefferies analyst John Hecht upgraded Navient (NAVI) to Buy from Hold and lifted the price target to $19 from $11.50. In a note to investors, the analyst said, “We believe the market is overly-discounting the potential impacts from the regulatory overhang, while the near-term operating environment improves as demand has resumed, NAVI has more near-term organic growth opportunities, and credit remains strong.”
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on NAVI, with 8% of investors increasing their exposure to NAVI stock in the last 7 days.
J.P. Morgan analyst Andrea Faria Teixeira upgraded Keurig Dr Pepper (KDP) to Buy from Hold and raised the price target to $39 from $33. The analyst sees a further expansion in the company’s valuation multiples on the back of “attractive post-synergies” earnings growth potential.
Furthermore, TipRanks data shows that financial blogger opinions are 100% Bullish versus a sector average of 69%.
Credit Suisse analyst Michael Zaremski upgraded Hartford Financial Services Group (HIG) to Buy from Hold and raised the price target to $82 from $48 after Chubb (CB) offered to acquire it for $65 per share. However, the analyst believes that Chubb could revise its offer to around $81.50 per share, representing a 25% jump from its initial offer.
Furthermore, HIG scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
Downgrades
J.P. Morgan analyst Andrea Faria Teixeira downgraded Molson Coors (TAP) to Sell from Hold and lowered the price target to $43 from $45. In a note to investors, the analyst said that the company should benefit from the reopening of the economy. However, Teixeira remains concerned about the timing of the recovery as it “appears highly uncertain” and sees continued pressure on earnings in the near-term.
On TipRanks’ Smart Score ranking, Molson Coors gets a 6 out of 10, suggesting that the stock is likely to perform in-line with market expectations.
Evercore ISI analyst Sheila McGrath downgraded Columbia Property (CXP) to Hold from Buy but raised the price target to $17.50 from $16.00 after it received a takeover bid from the investor group of Arkhouse, Sapir Global, and BF Investment Partners in an all-cash deal for $19.50 per share.
Overall, consensus among analysts is a Hold based on 3 unanimous Holds. The average analyst price target of $17.17 implies upside potential of about 1.5% to current levels.
Jefferies analyst Robert Dickerson downgraded The Simply Good Foods Company (SMPL). Dickerson said, “We continue to believe the company’s long-term strategy and fundamentals are solid, but we downgrade SMPL from Buy to Hold off a more balanced risk/reward profile.” The analyst maintained a price target of $36.
On TipRanks’ Smart Score ranking, Simply Good Foods gets a 6 out of 10, suggesting that the stock is likely to remain in-line with market expectations.
Oppenheimer analyst Chris Kotowski downgraded Blackstone (BX) to Hold from Buy, citing valuation concerns. The analyst also removed the price target as the analyst said, “the stock is trading above our prior $71 price target, and we don’t anticipate having a rationale for raising our target near term.” Kotowski further added, “We continue to view the company as a solid growth story and appropriate for long-term growth-oriented investors not sensitive to valuation.”
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on BX, with 6% of investors reducing their exposure to BX stock in the last 30 days.
H.C. Wainwright analyst Sean Lee downgraded Idera Pharmaceuticals (IDRA) to Hold from Buy after a negative readout from the tilsotolimod Phase 3 Study. Lee said that “the future sales of tilsotolimod for the treatment of metastatic melanoma comprised the bulk of our revenue projections, and we now consider such sales highly unlikely to occur.” Barclays, JMP Securities, JPMorgan, and Wedbush also downgraded the stock.
Overall, consensus among analysts is a Hold based on 5 unanimous Holds. The average analyst price target of $1.50 implies downside potential of about 24.2% to current levels.
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