2021-05-18 09:55:50 | Fly Intel: Top five analyst upgradesCatch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Gap (GPS) upgraded to Neutral from Underperform at Credit Suisse with analyst Michael Binetti saying his prior negative view was largely based on concerns about Gap's ability to hit several of the inputs needed to reach its target of $3.30 in EPS by 2023 and while he continues to have several concerns. 2. MGM Resorts (MGM) upgraded to Overweight from Neutral at JPMorgan with analyst Joseph Greff saying the 11% pullback over the last month, or a reduction of $2.5b in its market capitalization, provides an opportunity to buy with "fundamentals continuing to inflect positively." 3. MediaAlpha (MAX) upgraded to Buy from Neutral at Citi with analyst Daniel Grosslight saying the 46% selloff in the shares since mid-March is "overdone" and being compounded by confusion around revenue recognition, limited liquidity and a lack of investor attention. 4. Cerence (CRNC) upgraded to Outperform from In Line at Evercore ISI with analyst Chris McNally saying while Cerence is now a high-multiple "tech" stock, which comes with all the known expectational/rotation issues. 5. Snowflake (SNOW) upgraded to Buy from Neutral at Rosenblatt with analyst Blair Abernethy saying given the healthy IT spending environment so far this year, the accelerating Digital Transformation trends, and the strong Q1 performance from the leading Cloud Service Providers, Abernathy expects Snowflake to meet and possibly exceed the firm's 93% year-over-year Product Revenue growth estimate, the analyst tells investors in a research note. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | |
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