Wall Street Roundup: Bullish & Bearish Calls Of The Day


With a resurgent virus in the background, the stock market continues to remain volatile. TipRanks brings you the latest analyst action on some of your favorite stocks to sail smoothly through the market volatility. Let’s look into the noteworthy bullish and bearish calls of the day and see what the top Wall Street analysts are recommending.

Upgrades

Truist Financial analyst Joel Fishbein upgraded Cloudflare (NET) from Hold to Buy and lifted the price target to $110 from $75, citing “broad-based strength” in the business. Fishbein added that new customer additions, newer solutions, and up-selling opportunities bode well for future growth.

On TipRanks’ Smart Score ranking, Cloudflare gets a 9 out of 10, suggesting that it is likely to outperform market expectations.

Morgan Stanley analyst Carlos De Alba upgraded Alcoa (AA) from Hold to Buy and maintained a price target of $43. The analyst expects Alcoa to gain from growth opportunities in the aluminum market.

Furthermore, TipRanks data shows that financial blogger opinions are 77% Bullish, compared to a sector average of 70%.

B. Riley Financial analyst Alex Rygiel upgraded Legacy Housing (LEGH) to Buy from Hold and raised the price target to $20 from $16. Rygiel believes that favorable industry trends would drive Legacy Housing’s revenues and profitability in the coming years. The analyst sees multiple catalysts, including the improving economy and rising interest rates, to support the uptrend.

On TipRanks’ Smart Score ranking, Legacy Housing gets a 9 out of 10, suggesting that it is likely to outperform market expectations.

Truist Financial analyst Joel Fishbein upgraded Zscaler (ZS) to Buy from Hold and maintained a price target of $225. Fishbein is “extremely positive” about the company’s prospects and expects it to benefit from the recovery in demand and large deals.

Overall, the Street has a cautiously optimistic outlook on the stock with a Moderate Buy consensus rating based on 15 Buys and 6 Holds. The average analyst price target of $235.86 implies upside potential of about 28.9% to current levels.

Longbow Research analyst Nikolay Todorov turned bullish on Texas Instruments (TXN) as he upgraded the stock to Buy from Hold on improving trends. Todorov expects TXN’s product availability and expansion of direct-to-customer (DTC) sales to drive market share. However, he maintained a price target of $22 on the stock.

Furthermore, TipRanks data shows that financial blogger opinions are 96% Bullish, compared to a sector average of 69%.

Downgrades

Citigroup analyst Mark Ru Li downgraded TAL Education (TAL) to Hold from Buy and lowered the price target to $72 from $92. The analyst expects TAL Education’s operating loss to widen in 4Q due to the higher promotion expenditure. TAL stock is also under Li’s 30-Day “negative Catalyst Watch.”

Furthermore, TipRanks data shows that financial blogger opinions are 60% Bullish, compared to a sector average of 65%.

UBS analyst John Hodulik lowered Discovery’s (DISCA) rating to Sell from Hold, as the stock has significantly appreciated in one year. Hodulik sees risk-reward as “more challenging” at current price levels. However, the analyst increased DISCA’s price target to $46 from $24.

Turning now to the rest of the Wall Street community, Discovery has a Hold consensus rating based on 6 Holds, 5 Buys and 3 Sells. The average analyst price target of $48.31 implies downside potential of about 32.6% to current levels.

Berenberg Bank analyst Brian McNamara downgraded Burlington Stores (BURL) from Buy to Hold citing the recent run in the stock amid hopes of a post-pandemic recovery and economic reopening. The analyst sees the risk/reward balanced at current levels. However, McNamara raised the price target to $314 from $255.

Furthermore, TipRanks data shows that financial blogger opinions are 66% Bullish, compared to a sector average of 69%.

Tencent Music (TME) was downgraded to Hold from Buy by China Renaissance Securities (US) Inc. analyst Alex Liu. The analyst said that its paywall strategy remains strong and shows “no sign of diminishing returns.” However, Liu added that the momentum in sales is already baked in the stock’s “rich valuation.” The analyst raised the price target to $29 from $18.

Overall, the Street has a cautiously optimistic outlook on the stock with a Moderate Buy consensus rating based on 7 Buys, 2 Holds and 1 Sell. The average analyst price target of $29.78 implies downside potential of about 6.3% to current levels.

J.P. Morgan analyst Steven Alexopoulos downgraded Amalgamated Bank (AMAL) to Hold from Buy and lowered the price target to $17.50 from $18.50 following its CFO, Drew LaBenne’s exit. The analyst added that the departure signals “much more uncertainty” for the bank ahead.

Meanwhile, the Street has a Moderate Buy consensus rating based on 2 Buys and 1 Hold. The average analyst price target of $17.17 implies upside potential of about 8.7% to current levels.

Besides the above, you can also have a look at the following:
2 “Strong Buy” Penny Stocks With Massive Upside Ahead
Amazon’s NFL Deal Is a Win for Roku, Says Analyst
Luminar Is on Course to Lead the Auto Lidar Industry, Says Analyst

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