Latest Upgrades and Downgrades: Tilray, Peloton and Roku

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

Upgrade

Tilray  (TLRY) - Get Report was double-upgraded at Jefferies after shareholders approved the company's merger with peer Canadian cannabis provider Aphria.

U.S. Steel X was double upgraded by Credit Suisse to outperform from underperform with a Wall-Street-high price target of $35. 

First Solar  (FSLR) - Get Report was upgraded at Bank of America to buy from neutral.

Baker Hughes  (BHGE) - Get Report was upgraded by Barclays analysts to overweight from equal weight.

DraftKings  (DKNG) - Get Report was upgraded by Cowen to outperform from market perform with a $70 price target.

Downgrade

Clorox  (CLX) - Get Report was cut to underweight from overweight and its price target was dropped to $170 a share from $240 by analysts at Wells Fargo.

Peloton  (PTON) - Get Report received a downgrade from Bank of America after the high-tech exercise-bike maker announced a recall of its Tread and Tread+ treadmills following the death of a child. Several analysts also cut their price targets on Peloton due to the recall.

Initiate Coverage

J.P. Morgan initiated coverage of the videogame company Roblox  (RBLX) - Get Report with an overweight rating and $85 price target. 

Citi reinstated coverage of Dell Technologies  (DELL) - Get Report with a buy rating and a $120 price target. 

Guggenheim initiated coverage of pet food delivery company Chewy  (CHWY) - Get Report with a buy rating and $95 price target. 

Baird analyst Tristan Gerra initiated coverage of semiconductor producer Nvidia  (NVDA) - Get Report with an outperform rating and $800 price target.

Price Target Change

Roku  (ROKU) - Get Report saw its price targets raised by analysts after the streaming content platform reported better-than-expected first-quarter earnings and provided a positive outlook.

Analysts cut their price targets on Rocket Cos.  (RKT) - Get Report after the mortgage-loan operator missed Wall Street's earnings expectations.

Square  (SQ) - Get Report saw its price targets raised by analysts after the payment-technology company's first-quarter earnings report.

Mizuho Securities boosted its price target for Coinbase Global  (COIN)  to $315 from $285.

Morgan Stanley and J.P. Morgan raised their share-price targets for financial-services titan PayPal  (PYPL) - Get Report.

Analysts cut their price targets for Shake Shack  (SHAK) - Get Report after the burger chain missed Wall Street's first-quarter revenue and Ebitda forecasts.

Jefferies updated its model on Ford  (F) - Get Report and held its price target in check, after the company warned that chip shortages will lead to a 1.1 million shortfall in 2021 vehicle production.