News From The Analyst Community For This Week

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. Read on for the details on some of the most impactful actions taken by analysts over the past week.    

Monday, September 27th

  • Lordstown Motors (RIDE) was downgraded from Neutral to Sell at Goldman Sachs along with a $5 price target which represents a downside of 26%. 
  • B of A Securities downgraded Hyatt Hotels (H) from Neutral to Underperform and assigned a price target of $85 which represents a 6% increase from the current price.  

Tuesday, September 28th

  • Morgan Stanley upgraded Okta (OKTA) from Equal-Weight to Overweight, raising their price target from $275 to $315 which represents a 32% upside from the current price.  
  • Wolfe Research upgraded Chewy (CHWY) from Peer Perform to Outperform, raising their price target to $90 which represents a 33% upside
  • Berenberg downgraded Morgan Stanley (MS) from Buy to Hold and assigned a $91 price target.  
  • JMP Securities initiated coverage on Coinbase Global (COIN) with a Market Outperform rating and a $300 price target which represents an upside of 30% from the current price.   

Wednesday, September 29th

  • Bernstein upgraded several aerospace names including Boeing (BA) and Spirit AeroSystems Holdings (SPR) from Market Perform to Outperform.  The firm raised the price target for BA from $252 to $279 which represents a 25% upside and raised the price target for SPR  from $53 to $66, representing a 46% upside from the current price.  Analyst Doug Harned says commercial aerospace looks set to gain on a “global inflection” in demand for commercial aerospace.
  • Cowen and Co. downgraded Lockheed Martin (LMT) from Outperform to Market Perform, lowering the price target from $400 to $375, representing a downside of 8% from the current price. 

Thursday, September 30th

  • Truist Securities upgraded Sabra Health Care REIT (SBRA) from Hold to Buy, assigning a price target of $18 which represents a 19% upside from the current price.
  • BTIG upgraded Snowflake (SNOW) from Neutral to Buy and assigned a price target of $353 which represents a 13% upside from its current price.
  • Atlantic Equities downgraded Starbucks (SBUX) from Overweight to Neutral and assigned a price target of $105 which represents a downside of 6%.

Friday , October 1st

  • Five9 (FIVN) was the recipient of upgrades at numerous firms on the merger termination with Zoom Video (ZM).  Wells Fargo, Colliers, Northland Capital, Barclays, Evercore and Canaccord Genuity were among the firms to upgrade FIVN.

Canaccord Genuity analyst David Hynes told investors in a research note that  the merger termination with Zoom presents an opportunity for Five9 shareholders, as the implied post-announcement value of Five9 is below its intrinsic value.  The company posted “strong” Q2 results and it reportedly had another interested buyer prior to when the Zoom deal was announced, “which should notionally put a floor on valuation,” says the analyst.

Hynes continues to believe Five9’s fundamentals “remain strong.”  Digital transformation tailwinds, continued product innovation, large customer momentum and a still underpenetrated total addressable market should all contribute to sustainable 30%-plus revenue growth going forward.

  • Susquehanna downgraded MGM Resorts (MGM) from Neutral to Negative anlong with a $36 price target which represents a downside of 18%.
  • RBC Capital initiated coverage on (AMZN) and Alphabet (GOOGL) with Outperform ratings and price targets for each of $4150 and $3400, respectively.  
  • BMO Capital initiated coverage on several green energy stocks including Bloom Energy (BE), Plug Power (PLUG) and SolarEdge Technologies (SEDG) with positive ratings and price targets that are 15% or more above each stock’s current price.  

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