Analysts were busy this week, upgrading, downgrading, changing price targets on, and initiating coverage of a variety of companies.
ServiceNow (NOW) - Get Report was upgraded to overweight from equal weight by Morgan Stanley analyst Keith Weiss, who cited the workflow software company's growth potential. Weiss lifted his share-price target to $652, the highest estimate on Wall Street, according to Bloomberg, from $559.
Dow Inc. (DOW) - Get Report received downgrades from analysts at Deutsche Bank and Bernstein, who are both concerned about slowing price momentum for polyethylene. Deutsche downgraded Dow to hold from buy, while Bernstein cut its rating to market perform from outperform.
Solar-power-systems company First Solar (FSLR) - Get Report was double-downgraded by Raymond James analyst Pavel Molchanov to underperform from overperform. The analyst removed his $90 share-price target.
Salesforce.com (CRM) - Get Report was downgraded to equal-weight from overweight by Morgan analyst Keith Weiss, who maintained a $275 price target, indicating 8% potential upside from the stock's previous closing price.
Price Target Change
KeyBanc analyst Edward Yruma raised his one-year price target on Farfetch (FTCH) - Get Report to $50 from $32, while keeping his overweight rating. He noted that he expects the company to continue to benefit from department stores’ pandemic-driven shift to online sales.
Deutsche Bank analyst Ross Seymore raised his price target for Nvidia (NVDA) - Get Report to $500 from $450, saying the computer-graphics-chip company should deliver a solid third-quarter earnings beat next week.
Cisco (CSCO) - Get Report posted better-than-expected fiscal-first-quarter earnings and sales, spurring several analysts to raise their one-year price targets on the stock. Piper Sandler analyst James Fish edged his one-year price target to $45 from $44.