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Alphabet, Tilray, Roku: Latest Upgrades and Downgrades

TheStreet's weekly guide to upgrades, downgrades and price-target changes includes Alphabet, BlackBerry, Roku and DraftKings.
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Analysts were busy this week, upgrading, changing price targets on, and initiating coverage of a variety of companies.

Upgrade

Alphabet  (GOOGL)  was upgraded to buy from hold by analysts at Loop Capital Markets, who also lifted their price target for shares of the advertising, search and cloud giant to $2,525 from $1,895.

Palantir Technologies  (PLTR)  was upgraded to buy from neutral by analysts at Goldman Sachs, who also more than doubled their share-price target for the data-analytics company to $34 from $13.

Invitae  (NVTA)  was upgraded to buy at Ladenburg Thalmann, which cited growth potential and cost controls at the medical genetics company.

Downgrade

Tech-security and software company BlackBerry  (BB)  was downgraded to sell from hold by a Canaccord Genuity analyst, who raised concern about volatility in the shares.

Callaway Golf  (ELY)  was downgraded to market perform from outperform  by analysts at Cowen, who also raised their share-price target for the golf-equipment producer to $28 a share from $22.

Tilray  (TLRY)  was downgraded to neutral from overweight, by Piper Sandler, which raised its price target to $26 from $15. Benchmark cut its rating to hold from buy and more than doubled its price target to $32 from $12.

Price-Target Change

Roku's  (ROKU)  fourth-quarter earnings beat prompted at least two Wall Street analysts to raise their one-year price targets on the stock.

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Analysts at DA Davidson, Jefferies and Susquehanna raised their price targets for Trade Desk  (TTD)  after the application software company beat Wall Street's fourth-quarter-earnings expectations. 

Deutsche Bank analyst Bryan Keane raised his price target on Square  (SQ)  to $330 a share from $255 and affirmed a buy rating on the payment processor.

Several analysts raised their price targets for Applied Materials  (AMAT)  after the semiconductor giant reported revenue and adjusted profit that beat analysts’ expectations.

Oppenheimer analyst Jed Kelly raised his target price on the sports-betting platform DraftKings  (DKNG)  to $80 from $65 and affirmed his outperform rating.

Twilio  (TWLO)  saw its price targets increased by Piper Sandler and Keybanc after the cloud-based software provider reported fourth-quarter sales and earnings that were better than analysts’ forecasts.

Cantor Fitzgerald raised its share-price target for Tilray 25%, to $30.25 from $24.20 and maintained its neutral rating.

Initiate Coverage

Morgan Stanley initiated coverage of online trading platform Futu Holdings  (FUTU)  with an overweight rating and a share-price target of $253. 

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