Check out today's top analyst calls from around Wall Street, compiled by The Fly.
ZOOM UPGRADED AT PIPER AFTER EARNINGS: Piper Sandler analyst James Fish upgraded Zoom Video Communications (ZM) to Overweight from Neutral with a price target of $541, up from $501. The company reported a "very strong" end to fiscal 2021 and "better than feared" initial fiscal 2022 guidance, with Zoom Phone adoption and continued wins in Meetings both contributing to the upside, Fish tells investors in a research note. The analyst sees "multiple secular tailwinds behind the business."
DOW UPGRADED AT WELLS: Wells Fargo analyst Michael Sison upgraded Dow Inc. (DOW) to Overweight from Equal Weight with a price target of $77, up from $60. Sison believes the combination of strong demand and the impact from the recent Winter Storm Uri supply will drive upside to earnings in 2021E, the analyst tells investors in a research note. He thinks Dow offers offers attractive exposure to commodity chemicals which should perform well in early parts of a recovery.
TRIPADVSIOR UPGRADED AT CITI: Citi analyst Jason Bazinet upgraded TripAdvisor (TRIP) to Buy from Neutral with a price target of $62, up from $29. After working through the math and potential adoption rates, the analyst is more optimistic on Plus. He estimates Plus could attract 10M subscribers, creating an additional $1B of "high-margin" revenue. As such, Bazinet views Plus as a "thesis changer."
FOOT LOCKER SHARES TO 'TAKE BREATHER': Williams Trading analyst Sam Poser downgraded Foot Locker (FL) to Hold from Buy with a price target of $54, down from $61, post the Q4 earnings report. Apparent market share loss to competitors and some of it largest vendors warrant a downgrade, Poser tells investors in a research note. The analyst expects the shares to "take a breather."
CRUISE LINE UPGRADES: Macquarie analyst Paul Golding upgraded Carnival (CCL), Royal Caribbean (RCL) and Norwegian (NCLH) to Outperform from Neutral with a "positive catalyst horizon." With all three major U.S. cruise lines reporting fiscal 2020 results, suspension extensions now in place for most through mid-spring, and with COVID cases dropping and vaccine penetration rising, most negative catalysts are now in the rearview mirror, Golding tells investors in a research note. The analyst thinks the next possible round of suspensions "could be bookended by a firmer resumption announcement" in the U.S. New technical instructions from the CDC are forthcoming according to management commentary and could provide "visibility on a restart, allowing the companies to prep for peak season," says Golding.
MICRON PRICE TARGET RAISED TO $135: Evercore ISI analyst C.J. Muse raised the firm's price target on Micron (MU) to $135 from $105 and keeps an Outperform rating on the shares, telling investors that he expects the company to positively pre-announce earnings this Wednesday ahead of a competitor conference given growing shortages in DRAM and a more favorable supply/demand environment for NAND. He also expects the company's commentary to highlight expectations for earnings momentum to accelerate, said Muse, who continues to identify Micron as a Top Pick.
Dow Inc.
+2.22 (+3.74%)
TripAdvisor
-0.365 (-0.73%)
Foot Locker
+3.395 (+7.04%)
Carnival
-0.47 (-1.76%)
Royal Caribbean
-2.06 (-2.20%)
Norwegian Cruise Line
+0.28 (+0.95%)
Micron
+3.23 (+3.53%)
Zoom Video
+35.805 (+9.58%)