Moderna and Peloton: Analysts' Upgrades and Downgrades

The weekly guide to upgrades, downgrades and price-target changes includes target increases to Amazon, eBay and Peloton.

Stock analysts were busy this week as they issued reports on such companies as Kohl's  (KSS) - Get Report, Moderna  (MRNA) - Get Report, and Peloton  (PTON) - Get Report.


JPMorgan Chase  (JPM) - Get Report was upgraded by Goldman Sachs analyst Richard Ramsden, who also raised his share price target to $116 from $100, said in a note to clients that JPMorgan has "the highest longer-term return profile of the large banks.".


Department-store chain Kohl's  (KSS) - Get Report was downgraded to sell from neutral by a UBS analyst who says the market does not fully appreciate how much the coronavirus will permanently disrupt the retail landscape.

Analyst Jay Sole, who cut his price target for Kohl's to $14 from $17.50, said in a note to clients that "covid-19 is accelerating the shift to online shopping and UBS Evidence Lab data suggests the effect will persist after the pandemic ends."

Drugmaker Moderna  (MRNA) - Get Report was downgraded to neutral from overweight by analysts at J.P. Morgan over what the investment bank sees as a ripe valuation based on the stock's current price levels. 

Analyst Cory Kasimov raised his one-year price target to $89 from $60 for Moderna amid what he expects to be longer-term gains for the company's stock. 

Price Target Changes

Amazon  (AMZN) - Get Report, eBay  (EBAY) - Get Report, and Etsy  (ETSY) - Get Report all saw their price targets raised by Jefferies. Amazon's price target was raised to $3,800 from $3,100 while eBay's target was raised to $58 from $52 and Etsy's was increased to $125 from $110. 

Home-workout-technology company Peloton's  (PTON) - Get Report had its price target raised by Goldman Sachs to a Wall-Street-high $84 a share from $66. 

Goldman's note says the subscriber growth is not simply a pull-forward of potential subscribers due to Peloton's "relatively low penetration of the fitness market."

Instead, the New York company is "increasing the consumer value proposition for both Peloton products and the broader digital ecosystem." 

Boston Beer's  (SAM) - Get Report price target was jumped to $825 from $650 at Cowen, where analyst Vivien Azer cited the brewer's better-than-expected earnings report. Azer said the brewer of Sam Adams remains the firm's top small-to-mid-cap investment idea.

Best Buy  (BBY) - Get Report was the subject of multiple bullish analyst notes after the electronics retailer reported strong quarter-to-date online sales.

Wedbush kept its neutral rating on the stock, but raised Best Buy's price target to $95 from $75 per share. 

Analysts at Telsey kept Best Buy's outperform rating while raising its price target to $105 from $95 per share, while analysts at Guggenheim maintained their buy rating and $100 price target.