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.

Author:
Rob Lenihan
Publish date:
May 7, 2021 3:02 PM EDT

Analysts were busy this week, upgrading, changing price targets on, and initiating coverage of a variety of companies.

Upgrade

Tilray (TLRY) - Get Free 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 Free Report was upgraded at Bank of America to buy from neutral.

Baker Hughes undefined was upgraded by Barclays analysts to overweight from equal weight.

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

Downgrade

Clorox (CLX) - Get Free 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 Free 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 Free Report with an overweight rating and $85 price target.

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

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

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

Price Target Change

Roku (ROKU) - Get Free 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 Free Report after the mortgage-loan operator missed Wall Street's earnings expectations.

Square (SQ) - Get Free 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) - Get Free Report to $315 from $285.

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

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

Jefferies updated its model on Ford (F) - Get Free 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.