Bunge upgrade, United Airlines downgrade and Splunk initiation among today's top calls on Wall Street Institutional investors and professional traders rely on The Fly to learn which companies the best analysts on Wall Street are saying to buy and sell.
Research analysts at Wall Street's largest banks issue recommendations on whether a stock should be bought, held, or sold. The Fly's team of financial market experts scours hundreds of research notes daily to uncover the best trading ideas. Check out today's top analyst calls from around Wall Street, compiled by The Fly.
Top 5 Upgrades:
- JPMorgan analyst Thomas Palmer upgraded Bunge (BG) to Overweight from Neutral with a price target of $106, down from $130, which represents 25% upside from current levels. The analyst thinks near-term positive catalysts could come from the company's second quarter earnings and a rebound in agriculture products trends.
- Exane BNP Paribas analyst Laurent Vasilescu upgraded Planet Fitness (PLNT) to Neutral from Underperform with a $75 price target.
- BTIG analyst David Larsen upgraded 1Life Healthcare (ONEM) to Buy from Neutral with a $15 price target. Over the past two years, the stock has traded down from $60 to $10, making the multiple "far more reasonable now than it has been in the past," Larsen told investors in a research note.
- Citi analyst Jason Bazinet upgraded Endeavor Group (EDR) to Buy from Neutral with an unchanged price target of $25. The analyst believes Endeavor has an attractive risk/reward at current share levels, Bazinet tells investors in a research note. Bazinet also upgraded Lamar Advertising (LAMR) to Buy from Neutral with a price target of $108, down from $112.
- Wedbush analyst Jay McCanless upgraded Skyline Champion (SKY) to Outperform from Neutral with a $70 price target. Year to date through May, manufactured housing industry shipments are 14% higher versus the same time last year, which should be a positive read for Skyline as well as the other industry players, the analyst contends.
Top 5 Downgrades:
- Argus analyst John Staszak downgraded United Airlines (UAL) to Hold from Buy and he is lowering his EPS estimates to reflect flight cancellations, pilot shortages and higher fuel prices. Meanwhile, Exane BNP Paribas analyst James Hollins downgraded United Airlines to Underperform from Neutral with a price target of $33, down from $38.
- Bank of America analyst Lorraine Hutchinson downgraded Kohl's (KSS) to Underperform from Neutral with a price target of $26, down from $50. Her rating is now aligned with her negative view on the department store industry, said Hutchinson, who previously had been concerned about fundamentals but held a neutral view on the stock given the possibility of a takeout.
- RBC Capital analyst Nik Modi downgraded Boston Beer (SAM) to Sector Perform from Outperform with a price target of $331, down from $488. The analyst expects another downgrade to guidance and says distributor feedback on Boston Beer's recent innovation "has been mixed."
- Jefferies analyst Stephanie Wissink downgraded Usana (USNA) to Underperform from Hold with a price target of $53, down from $78, telling investors that the magnitude of the company's negative pre-announcement was "more extensive than expected" and that visibility is low.
- UBS analyst Cody Ross downgraded Kellogg (K) to Neutral from Buy with a price target of $74, down from $81. While Kellogg's stock is up the second most in his coverage year-to-date, the analyst is concerned that the company is going to experience a significant amount of inflation over the near- to medium-term and will likely have difficulty passing through as much price going forward.
Top 5 Initiations:
- Canaccord analyst Kingsley Crane initiated coverage of Splunk (SPLK) with a Buy rating and $130 price target. The company's recent management changes are improving the investment case, Crane told investors in a research note.
- Canaccord analyst Kingsley Crane initiated coverage of Datadog (DDOG) with a Hold rating and $120 price target. While he likes Datadog's underlying platform architecture and prospects to grow in the logging market, Crane sees "little margin for error" given the stock's current valuation.
- Needham analyst Mike Cikos initiated coverage of GitLab (GTLB) with a Buy rating and $70 price target. The analyst believes GitLab is increasingly becoming the "center of gravity" for organizations' software innovation.
- Needham analyst Ryan MacDonald initiated coverage of Duolingo (DUOL) with a Buy rating and $115 price target. The analyst's survey work shows that Duolingo has built "industry-leading brand recognition with a gamified learning platform that draws learners in and generates stronger engagement than that of comparable businesses in ed tech."
- Jefferies analyst David Kelley initiated coverage of EVgo (EVGO) with a Hold rating and $5.50 price target. Rapid growth is likely to require significant investment and he does not expect profitability until 2025.
Symbols:
BG PLNT ONEM EDR SKY UAL KSS SAM K SPLK DDOG GTLB DUOL EVGO USNA - $64.47 /
-11.955 (-15.64%)
Keywords: analyst, analyst calls, upgrades, downgrades, initiations, research, wall street