| 2021-06-24 09:57:46|
LEA, MGM… 09:57 06/24 06/24/21
Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Lear (LEA) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying the company has a growing opportunity in its E-Systems business, including with products for electric vehicles such as connectors. 2. MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank with analyst Carlo Santarelli saying the "next leg of the stock story" is likely to be improving margins that extend well beyond the "over 30%" targets management has discussed as the Las Vegas Strip goal, as well as the 32.5% peak margins of 2006. 3. Emcor (EME) upgraded to Overweight from Sector Weight at KeyBanc with analyst Sean Eastman saying he is more confident the company is "on the cusp" of a sustained sales growth reacceleration rather than facing a Covid-driven air pocket. 4. Seagate (STX) upgraded to Outperform from Market Perform at Northland with analyst Gus Richard saying while "correlation isn't causation," he sees it as likely that much of the recent volatility in Seagate shares is a function of being a derivative Chia investment and thinks the volatility will likely diminish as investors understand the HDD supply and demand dynamics are favorable excluding the impact of Chia. 5. Credit Suisse (CS) upgraded to Buy from Hold at Berenberg with analyst Eoin Mullany saying the shares are more than discounting issues around Archegos and Greensill and as Credit Suisse resolves them and refocuses the business, its valuation gap to peers can close. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.