Stock analysts were busy this week with upgrades and price-target changes for several companies.
Microsoft (MSFT) - Get Report was upgraded to outperform from perform by Oppenheimer analyst Timothy Horan amid strength in the company's Azure cloud business. Horan has a $260 price target on the stock.
Global Blood Therapeutics (GBT) - Get Report was downgraded by Raymond James analyst Danielle Brill to market perform from outperform after the company's third-quarter revenue and earnings lagged analysts' expectations.
Price Target Changes
Several analysts raised their price targets for Qorvo (QRVO) - Get Report after the wireless-technology company reported stronger-than-expected earnings. Among them were Needham analysts, who lifted their target to $200 from $160, affirming their buy rating.
Several analysts raised their price targets for Upwork (UPWK) - Get Report after the online staffing platform reported stronger-than-expected earnings. Stifel, for example, upgraded the stock to buy from hold and sent its share-price target to $31 from $17.
Trade Desk (TTD) - Get Report received positive commentary from analysts after the ad technology company reported strong quarterly earnings. Susquehanna Financial Group analysts raised their price target to $925 from $600, maintaining a positive rating.
Arista Networks (ANET) - Get Report received several positive comments from analysts after the cloud software company reported stronger-than-expected earnings for the third quarter. Analysts at William Blair said Arista has hit an inflection point, with management’s tone improving “night-and-day” from recent quarters.
Electronic Arts (EA) - Get Report and Take-Two Interactive (TTWO) - Get Report were both the subject of rating and price target changes as the videogame rivals reported quarterly earnings. Analysts lowered their ratings or price targets on EA due to disappointing results and guidance, while increasing their targets for Take-Two.