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Tuesday, September 07, 2021 9:25:45 AM
Tuesday's Top Analyst Upgrades and Downgrades: Amgen, Cirrus Logic, Johnson & Johnson, Lam Research, Merck, Spotify and Vertex Pharma
By: 24/7 Wall St. | September 7, 2021
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, September 7, 2021.
Amgen Inc. (NASDAQ: AMGN): Morgan Stanley downgraded the stock to Equal Weight from Overweight and cut the price target to $251 from $280. Shares last closed at $226.37, and the consensus price target is $252.96.
Azure Power Global Ltd. (NYSE: AZRE): HSBC Securities upgraded it to Buy from Hold and has a $27.50 price target. The shares have a $42.25 consensus target, and Friday’s close was at $21.77.
Bank of Montreal (NYSE: BMO): The Barclays upgrade was to Equal Weight from Underweight. That compares with an $85.95 consensus target and Friday’s close at $101.97.
Cirrus Logic Inc. (NASDAQ: CRUS): Barclays upgraded it to Overweight from Equal Weight and raised the price target to $100 from $95. Shares last closed at $83.62, and the consensus price target is $105.42.
Hain Celestial Group Inc. (NASDAQ: HAIN): This is the Zacks Bear of the Day. The analyst points out that an earnings miss started a string of negative earnings estimate revisions for this stock. Shares closed most recently at $37.28 apiece and have a consensus price target of $44.91.
Johnson & Johnson (NYSE: JNJ): Morgan Stanley lowered its Overweight rating to Equal Weight with a $187 price target. The $189.61 consensus target is above Friday’s close at $175.04.
Lam Research Corp. (NASDAQ: LRCX): Exane BNP Paribas lowered its Outperform rating to Neutral with a $640 price target. Shares most recently closed at $610.71 and have a consensus price target of 742.52.
Marathon Petroleum Corp. (NYSE: MPC): Morgan Stanley initiated coverage with an Overweight rating and a $75 price target. Shares last closed at $58.24, and the consensus target price is $69.43.
McAfee Corp. (NASDAQ: MCFE): UBS downgraded it to Neutral from Buy but raised the price target to $29 from $27. The shares last closed at $27.72, and the consensus price target is $29.43.
Merck & Co. Inc. (NYSE: MRK): Morgan Stanley’s downgrade to Equal Weight from Overweight came with an $85 price target. Shares last closed at $77.26, but they have traded as high as $82.35 in the past year.
Overstock.com Inc. (NASDAQ: OSTK): BofA Securities resumed coverage with a Buy rating and an $89 price target. Shares closed most recently at $69.51 apiece and have a consensus price target of $124.50.
Phillips 66 (NYSE: PSX): Morgan Stanley started coverage with an Equal Weight rating and an $80 price target. The shares most recently closed at $69.62 and have a consensus price target of $91.36.
ScanSource Inc. (NASDAQ: SCSC): Zacks named this as its Bull of the Day stock. The analyst says that that earnings growth has been the key to this stock’s meteoric rise. Shares last closed at $37.56, and the consensus price target is $39.33.
Spotify Technology S.A. (NYSE: SPOT): KeyBanc Capital Markets lifted its Sector Weight rating to Overweight and has a $340 price target. Shares last closed at $249.04, and the consensus price target is $261.59.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX): Morgan Stanley downgraded it to Underweight from Equal Weight and has a $202 price target. The shares most recently closed at $198.05 and have a consensus price target of $260.00.
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By: 24/7 Wall St. | September 7, 2021
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, September 7, 2021.
Amgen Inc. (NASDAQ: AMGN): Morgan Stanley downgraded the stock to Equal Weight from Overweight and cut the price target to $251 from $280. Shares last closed at $226.37, and the consensus price target is $252.96.
Azure Power Global Ltd. (NYSE: AZRE): HSBC Securities upgraded it to Buy from Hold and has a $27.50 price target. The shares have a $42.25 consensus target, and Friday’s close was at $21.77.
Bank of Montreal (NYSE: BMO): The Barclays upgrade was to Equal Weight from Underweight. That compares with an $85.95 consensus target and Friday’s close at $101.97.
Cirrus Logic Inc. (NASDAQ: CRUS): Barclays upgraded it to Overweight from Equal Weight and raised the price target to $100 from $95. Shares last closed at $83.62, and the consensus price target is $105.42.
Hain Celestial Group Inc. (NASDAQ: HAIN): This is the Zacks Bear of the Day. The analyst points out that an earnings miss started a string of negative earnings estimate revisions for this stock. Shares closed most recently at $37.28 apiece and have a consensus price target of $44.91.
Johnson & Johnson (NYSE: JNJ): Morgan Stanley lowered its Overweight rating to Equal Weight with a $187 price target. The $189.61 consensus target is above Friday’s close at $175.04.
Lam Research Corp. (NASDAQ: LRCX): Exane BNP Paribas lowered its Outperform rating to Neutral with a $640 price target. Shares most recently closed at $610.71 and have a consensus price target of 742.52.
Marathon Petroleum Corp. (NYSE: MPC): Morgan Stanley initiated coverage with an Overweight rating and a $75 price target. Shares last closed at $58.24, and the consensus target price is $69.43.
McAfee Corp. (NASDAQ: MCFE): UBS downgraded it to Neutral from Buy but raised the price target to $29 from $27. The shares last closed at $27.72, and the consensus price target is $29.43.
Merck & Co. Inc. (NYSE: MRK): Morgan Stanley’s downgrade to Equal Weight from Overweight came with an $85 price target. Shares last closed at $77.26, but they have traded as high as $82.35 in the past year.
Overstock.com Inc. (NASDAQ: OSTK): BofA Securities resumed coverage with a Buy rating and an $89 price target. Shares closed most recently at $69.51 apiece and have a consensus price target of $124.50.
Phillips 66 (NYSE: PSX): Morgan Stanley started coverage with an Equal Weight rating and an $80 price target. The shares most recently closed at $69.62 and have a consensus price target of $91.36.
ScanSource Inc. (NASDAQ: SCSC): Zacks named this as its Bull of the Day stock. The analyst says that that earnings growth has been the key to this stock’s meteoric rise. Shares last closed at $37.56, and the consensus price target is $39.33.
Spotify Technology S.A. (NYSE: SPOT): KeyBanc Capital Markets lifted its Sector Weight rating to Overweight and has a $340 price target. Shares last closed at $249.04, and the consensus price target is $261.59.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX): Morgan Stanley downgraded it to Underweight from Equal Weight and has a $202 price target. The shares most recently closed at $198.05 and have a consensus price target of $260.00.
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