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

1. Honeywell International

Deutsche Bank analyst Nicole Deblase upgraded Honeywell International (HON) to Buy from Hold and increased the price target to $244 from $222. In a note to investors, Deblase said that despite “attractive end-market exposures,” the stock performed dismally in the multi-industry group so far this year. The analyst believes that the company has “best-in-class quality metrics” and foresees a “rare opportunity” for buying the stock with expected 5% and 10% upside potential to 2021 and 2022 estimates, respectively.

Honeywell scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

2.  Bilibili Inc

Credit Suisse analyst Kenneth Fong upgraded Bilibili (BILI) to Buy from Hold but decreased the price target to $140 from $150 following the recent pullback in shares. Over the long term, the analyst remains positive based on Bilibili’s user growth, monetization potential, and unique product offering.

The consensus rating among analysts is a Strong Buy based on 8 unanimous Buys. The average analyst price target stands at $167.25 and implies upside potential of 53.2% to current levels.

3. U.S. Bancorp

JPMorgan analyst Vivek Juneja upgraded U.S. Bancorp (USB) to Buy from Hold but maintained a price target of $60. According to Juneja, recovery in consumer spending has benefited the bank most among its peers. Additionally, the analyst believes that a further rise in spending will aid U.S. Bancorp as its card-related fees contributed 16% to the bank’s total revenues in 2019, exceeding the 4.7% median among large banks.

TipRanks data shows that financial blogger opinions are 92% Bullish, compared to a sector average of 71%.

4. WisdomTree Investments

Morgan Stanley analyst Michael Cyprys upgraded WisdomTree Investments (WETF) to Hold from Sell and increased the price target to $6.75 from $4.75. Cyprys increased the company’s EPS forecast for 2022 by 16% based on the belief that WisdomTree recorded wider-than-expected organic growth and a lower-than-feared decline in fees. However, the analyst remains concerned as currently, EM equity products are more popular than the company’s Bitcoin ETFs, which are in “very early days” and lack visibility of success.

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in WisdomTree is currently Neutral, as 3 hedge funds increased their cumulative holdings of the stock by 144,500 shares in the last quarter.

5. Gogo

Cowen analyst Lance Vitanza upgraded Gogo (GOGO) to Buy from Hold and increased the price target to $14 from $12. In a note to investors, Vitanza said that the refinancing of Gogo’s balance sheet “should create significant free cash flow and reposition Gogo for the long term.” According to the analyst, the stock declined 30% from its February highs, which makes its valuation compelling, adding that the company is well established in the in-flight internet space.

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Gogo, with 6.1% of investors increasing their exposure to GOGO stock over the past seven days.

Downgrades

1. Orbcomm Inc.

Canaccord Genuity analyst Michael Walkley downgraded Orbcomm (ORBC) to Hold from Buy and decreased the price target to $11.50 from $13 following the company’s announcement that it was to be acquired by GI Partners for $11.50 per share in cash. Walkley said, “Given the premium paid and the fact it is an all cash transaction, we anticipate the deal will close by the second half of C2021.”

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Orbcomm is currently Neutral, as 3 hedge funds decreased their cumulative holdings of the stock by 577,100 shares in the last quarter.

2. QAD Inc

Sidoti analyst Matthew Galinko downgraded Qad (QADA) to Hold from Buy but maintained a price target of $77. Galinko cited the company’s current valuation as a reason for the downgrade, which reflected a “strong” appreciation in the stock after the company reported 4Q earnings.

The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 1 Buy and 1 Hold. The average analyst price target of $71.50 implies 7.7% downside potential to current levels.

3. Sonic Healthcare Limited

Jefferies analyst David Stanton downgraded Sonic Healthcare (SKHHY) to Hold from Buy and decreased the price target to A$36.50 from A$40 based on his updated estimates for COVID testing volume and pricing. Currently, Stanton foresees increased reduction in COVID pathology testing in fiscal 2022 and thereafter due to the wider-than-expected negative impact of the vaccination on testing rates.

According to TipRanks’ Smart Score system, Sonic Healthcare gets a 6 out of 10, which indicates that the stock is likely to perform in line with market averages.

4. WW International, Inc.

Morgan Stanley analyst Lauren Schenk downgraded WW International (WW) to Hold from Buy but maintained a price target of $34. Schenk said that over the past year the stock has outperformed the S&P and currently has a more balanced risk/reward. Notably, 1Q WW app downloads decreased 18% year-over-year and the analyst expects people’s spending to switch towards travel, dining out, and other activities as the economy reopens.

TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on WW International, with 14.8% of investors reducing their exposure to WW stock over the past 30 days.

5. Air Canada

National Bank analyst Cameron Doerksen downgraded Air Canada (ACDVF) to Hold from Buy but increased the price target to C$31 from C$26. According to Doerksen, increased positivity about the airline industry is already factored in the current share price.

According to TipRanks’ Smart Score system, Air Canada gets a 5 out of 10, which indicates that the stock is likely to perform in line with market averages.

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