Stock analysts can provide valuable insight into the sentiment around a certain stock or sector and shed some light on what is possible or likely for a stock. Stirring in the analyst community can sometimes be early signs of stock movement. Which is why our team reviews dozens of analyst research reports each and every day with the goal of finding new investment ideas for our readers.
Of the hundred of reports we reference weekly, some stand out among the others for various reasons. Our team has sifted through this week’s reports and whittled it down to the most pertinent moves.
There have been more downgrades than upgrades since Monday. Read on for the details on some of the most impactful actions taken by brokerage firms over the past week.
Monday, September 13th
- Bernstein analyst Vitaly Umansky upgraded MGM Resorts Intl (MGM) to Outperform from Market-perform, saying in a note to clients on Monday that Bernstein had underestimated MGM’s success in online betting. The firm hiked its price target on MGM to $58.90 from $29.60, representing a 42% upside.
Shares of MGM have gained 32% year to date, outperforming the broader market.
“Our view on MGM during 2021 has been too conservative and we have not given MGM enough credit on the progress made in its interactive strategy through BetMGM,” the note said.
- Odeon Capital upgraded Bank of America (BAC) from Hold to Buy and assigned a price target of $46.50 which represents a 15% increase from its current price.
- BTIG downgraded Nike (NKE) from Buy to Neutral.
- Goldman Sachs downgraded CrowdStrike Holdings (CRWD) from Buy to Neutral and assigned a price target of $305 which represents a 14% upside.
Tuesday, September 14th
- Susquehanna downgraded Lam Research (LRCX) from Positive to Neutral with a price target of $690 which represents a 14% upside.
- B of A securities downgraded TaskUs (TASK) from Buy to Neutral and assigned a $65 price target which represents a 10% downside.
Wednesday, September 15th
- Cowen and Co. upgraded Werner Enterprises (WERN) from Market-perform to Outperform and boosted their price target from $52 to $56 which represents a 23% upside.
- JP Morgan downgraded Chevron (CVX) from Overweight to Neutral with a price target of $111 which represents a 15% upside.
Thursday, September 16th
- Credit Suisse upgraded Cisco Systems (CSCO) from Neutral to Outperform and raised their price target from $56 to $74 representing a 31% upside.
- B of A Securities upgraded DoorDash (DASH) to Buy from Neutral and assigned a $255 price target which represents a 12.5% increase from its current price.
- B of A securities upgraded Avis Budget (CAR) from Neutral to Buy and raised their price target from $90 to $125 which represents a 33% upside.
- Piper Sandler downgraded Beyond Meat (BYND) from Neutral to Underweight, lowering their price target from $120 to $95, representing a 15% downside.
Friday, September 17th
- Piper Sandler upgraded Five9 (FIVN) from Neutral to Overweight and assigned a price target of $200 which represents a 15% upside.
- JP Morgan downgraded TotalEnergies (TTE) from Overweight to Neutral.
- BMO Capital downgraded Take-two Interactive (TTWO) from Outperform to Market-perform, lowering their price target from $225 to $150.
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