Check out today's top analyst calls from around Wall Street, compiled by The Fly.
LOWER E-COMMERCE EV/SALES MULTIPLES: Baird analyst Colin Sebastian lowered the firm's price target on Carvana (CVNA) to $300 from $350, while keeping an Outperform rating on the shares. The analyst tweaked his estimates to account for slightly lower units/higher ASPs, and he is now slightly below consensus. Sebastian's target change mostly reflects lower comparable e-commerce EV/sales multiples.
BUY LUCID DIAGNOSTICS: Ascendiant analyst Edward Woo initiated coverage of Lucid Diagnostics (LUCD) with a Buy rating and $16 price target. Lucid is a commercial stage medical diagnostics technology company focused on patients with gastroesophageal reflux disease, who are at risk of developing esophageal precancer and cancer, Woo told investors in a research note. The analyst believes Lucid's recent initial public offering "will be a major catalyst for the stock." Further, he views the stock's current valuation as attractive.
TARGET RAISED: Cowen analyst Kevin Kopelman raised the firm's price target on Hyatt Hotels (H) to $95 from $85, while keeping a Market Perform rating on the shares. The analyst updated his model to account for the close of the Apple Leisure Group deal and latest results. Apple Leisure adds 33,000 all-inclusive rooms, timeshares, and a tour operator, Kopelman told investors in a research note. The analyst initially estimates Apple's EBITDA at $175M in 2022 and $200M in 2023.
'DISAPPOINTING' 2022 GROWTH, CEO DEPARTURE: Truist analyst Terry Tillman lowered the firm's price target on Everbridge (EVBG) to $85 from $185 but kept a Buy rating on the shares. The analyst is updating his model to reflect the company's "disappointing initial 2022 growth framework of 20%-23%" that was provided at the time of its "surprise" CEO departure announcement a few weeks ago, though with the stock down 40%, sentiment has "over indexed to the negative."
TOP VALUE IDEA FOR 2022: Needham analyst James Ricchiuti kept a Buy rating and $215 price target on MKS Instruments (MKSI) while naming the stock his top value idea for 2022. The analyst is positive on the company's strong operating fundamentals and its accretion potential over the next 1-2 years from the pending acquisition of Atotech. Ricchiuti added that while performance of MKS Instruments was subpar despite consensus estimates moving higher, he likes the setup for the company's Semiconductor and Advanced Markets businesses entering 2022.