Under Armour upgrade, Meta Platforms downgrade and MakeMyTrip 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:
- Argus analyst Kristina Ruggeri upgraded Under Armour (UAA) to Buy from Hold with a $19 price target. The company's close inventory management, avoiding of product discounting, and boosted direct-to-consumer sales have improved its results, the analyst told investors in a research note.
- Citi analyst Paul Lejuez upgraded Macy's (M) to Neutral from Sell with an unchanged price target of $25. While Macy's faces "substantial structural challenges," the stock has reached a level where the risk/reward is balanced, Lejuez contended.
- Needham analyst David Saxon upgraded iRhythm (IRTC) to Buy from Hold with a price target of $135. The company's fourth quarter trends and the management's commentary on 2022 gives him increased confidence in the durability of iRhythm's revenue growth.
- Bank of America analyst Joshua Shanker upgraded Trupanion (TRUP) to Buy from Neutral with a price target of $118, down from $129. The analyst argued that the 53% decline in the stock from its December 8th peak creates "material upside."
- Stifel analyst Drew Crum upgraded Mattel (MAT) to Buy from Hold with a price target of $33, up from $27. The analyst has increasing confidence around the company's ability to meet or exceed its intermediate-term goals.
Top 5 Downgrades:
- Erste Group analyst Hans Engel downgraded Meta Platforms (FB) to Hold from Buy. While Facebook invested 21.7% of revenue in research and development in the last quarter and the intended reorientation toward virtual products and services offers new earnings potential in the future, the analyst notes the development of the new advertising revenues is associated with high costs which are difficult to forecast.
- JPMorgan analyst Anna Lizzul downgraded FuboTV (FUBO) to Neutral from Overweight with a price target of $12, down from $28. The company reported fourth quarter results with better-than-expected subscriber growth but its first quarter paid subscriber outlook of 1.028M-1.033M is a decrease of 100,000 subs sequentially, Lizzul told investors in a research note.
- JPMorgan analyst Ranjan Sharma downgraded Grab Holdings (GRAB) to Neutral from Overweight with a price target of $5.70, down from $12.50, ahead of the company's fourth quarter results on March 3. The analyst continues to have a fundamentally favorable view of Grab's business but says that in the current market environment, Grab's share price could see further volatility due to elevated EBITDA losses in Q4 and Q1.
- Morgan Stanley analyst Eddy Wang downgraded Vipshop (VIPS) to Equal Weight from Overweight with a price target of $10, down from $15. The year-over-year decline in users in the fourth quarter and revenue guidance for a year-over-year decline in the first quarter surprised on the downside, Wang noted.
- BMO Capital analyst Jonathan Lamers downgraded Lion Electric (LEV) to Market Perform from Outperform with a price target of $7, down from $22. Actual orders for Lion's electric trucks have developed more slowly than expected, Lamers contended.
Top 5 Coverage Initiations:
- Morgan Stanley analyst Gaurav Rateria initiated coverage of MakeMyTrip (MMYT) with an Equal Weight rating and $29 price target. The shares are not expensive but it not cheap either, and the company's near-term margin improvement will be gradual with normalization of costs, Rateria told investors in a research note.
- Morgan Stanley analyst Brian Nowak initiated coverage of Nextdoor (KIND) with an Equal Weight rating and $7 price target. The analyst sees a path for 12% compound annual growth in users of 2021 to 2026 and sees Nextdoor - whose offering blurs the lines between social media and a local utility/search service - reaching about 59M global weekly active users in 2026.
- JPMorgan analyst Sterling Auty initiated coverage of Cellebrite (CLBT) with an Overweight rating and $10.50 price target. The analyst views the recent pullback in the shares as providing a good entry point.
- BTIG analyst Gregory Lewis initiated coverage of Core Scientific (CORZ) with a Buy rating and $18 price target. The analyst believes Core is positioned to be one of the winners from the "ongoing arms race" in bitcoin mining.
- Jefferies analyst Daniel Fannon initiated coverage of Douglas Elliman (DOUG) with a Buy rating and $8.50 price target. Given its luxury focus and above-average agent productivity, the analyst views Douglas Elliman as partially insulated from higher interest rates and sees the risk/reward as attractive at the current valuation.
Symbols:
UA UAA M IRTC - $109.44 /
+1.745 (+1.62%)
TRUP FB FUBO GRAB VIPS LEV MMYT KIND CLBT CORZ DOUG Keywords: analyst, analyst calls, upgrades, downgrades, initiations, research, wall street