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Apple, FedEx, Tesla: Latest Upgrades and Downgrades

TheStreet's weekly guide to upgrades, downgrades and price-target changes includes Apple, FedEx and Tesla.

Wall Street analysts issued reports on companies including Apple  (AAPL) - Get Apple Inc. Report, Palantir  (PLTR) - Get Palantir Technologies Inc. Class A Report and Snowflake  (SNOW) - Get Snowflake, Inc. Class A Report.

Upgrade

Apple  (AAPL) - Get Apple Inc. Report was upgraded to buy from hold by Loop Capital Markets analyst Ananda Baruah, who sees promising trends for production, shipments and sales of the tech giant's products.

Goldman analyst Mark Delaney lifted his rating on Tesla  (TSLA) - Get Tesla Inc Report to buy from neutral, and pumped his price target on the electric-vehicle group by more than 70% to $780 a share, the highest on Wall Street. 

Barclays analyst Brandon Oglenski upgraded FedEx  (FDX) - Get FedEx Corporation Report to overweight from equal weight and lifted his price target on the package-delivery company 50% to $360 from $240.

Downgrade

Stitch Fix  (SFIX) - Get Stitch Fix, Inc. Class A Report was downgraded by MKM Partners analyst Roxanne Meyer to sell from neutral over valuation. Meyer raised her price target for the online personal shopping company to $28 from $25, reflecting recent market activity.

Ollie's Bargain Outlet  (OLLI) - Get Ollie's Bargain Outlet Holdings Inc Report was downgraded to neutral from buy by Goldman Sachs analyst Chandni Luthra, who cut her price target to $95 a share from $122. Other analysts also cut their price targets for the discount store operator.

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TheStreet Recommends

Palantir  (PLTR) - Get Palantir Technologies Inc. Class A Report was downgraded to underweight from equal-weight by Morgan Stanley analyst Keith Weiss, who raised his price target on the shares to $17 from $15.

Unity Software  (U) - Get Unity Software, Inc. Report, a videogame-software maker, was downgraded to perform from outperform from Oppenheimer analyst Andrew Uerkwitz based on valuation.

Discovery  (DISCA) - Get Discovery, Inc. Class A Report was downgraded by MKM Partners to neutral from buy due to the expected costs associated with the launching of the company’s streaming service.

Price Target Change

DocuSign  (DOCU) - Get DocuSign, Inc. Report analysts boosted their price targets after the e-signature company  beat Wall Street's third-quarter expectations. Citi analyst Walter Pritchard, for example, raised his price target to $282 from $257 and maintained his buy rating on the shares.

Snowflake  (SNOW) - Get Snowflake, Inc. Class A Report received several price-target upgrades from analysts after the cloud-based data-warehouse company reported better-than-expected third-quarter sales. Piper Sandler raised its one-year target to $312 from $264, while Morgan Stanley raised its target to $265 from $220.

Several CrowdStrike Holdings  (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report analysts raised their price targets after the cybersecurity company beat Wall Street's quarterly expectations.

Initiate Coverage

Carvana  (CVNA) - Get Carvana Co. Class A Report rose after Jefferies analysts initiated coverage of the online used car dealer with a buy rating and a price target of $300. They acted on Carvana’s growth potential and the ease it brings to car buying. The Jefferies analysts also began coverage of two rivals: Vroom  (VRM) - Get Vroom, Inc. Report, at hold with a price target of $38, and CarGurus  (CARG) - Get CarGurus, Inc. Class A Report, at hold with a price target of $26.