Snap, Amazon: Latest Upgrades and Downgrades - TheStreet

Snap, Amazon: Latest Upgrades and Downgrades

TheStreet's weekly guide to upgrades and price target changes includes Workday, Amazon, and Snap.
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Analysts were busy this week, upgrading, changing price targets, and initiating coverage of a variety of companies.

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The human-resources-software platforms Workday  (WDAY) - Get Report and Paycom  (PAYC) - Get Report were upgraded by Stifel analyst Brad Reback to buy from hold. The analyst raised his share-price target for Workday to $275 from $227, while boosting Paycom's target price to $365 from $250. 

Snap  (SNAP) - Get Report was raised to buy from neutral and Spotify Technology  (SPOT) - Get Report to neutral from sell by Guggenheim analyst Michael Morris. The analyst raised his price target for the stock of both companies, Snap to $28 from $22 and Spotify to $250 from $232.

Plug Power  (PLUG) - Get Report was upgraded to overweight from equal weight by Morgan Stanley analyst Stephen Byrd with a price target of $14, up from $10.25.

Starbucks  (SBUX) - Get Report was upgraded by Cowen analyst Andrew Charles to outperform from market perform. The analyst also raised his share-price target 29% to $99 from $77.

Shopify  (SHOP) - Get Report was upgraded to outperform from neutral. Wedbush analyst Ygal Arounian raised his price target on shares of the e-commerce software-and-services provider to $1,300 from $998.

Deutsche Bank analyst Amit Mehrotra lifted his rating on FedEx  (FDX) - Get Report to buy from hold, with a price target of $318 per share. 

UPS  (UPS) - Get Report was upgraded to overweight from sector-weight by KeyBanc Capital Markets' Todd Fowler, with a $190 price target.

Price Target Change

Pivotal Research analyst Michael Levine raised his price target for Amazon  (AMZN) - Get Report to $4,500 from $3,925. Levine kept a buy rating on the shares.

Wedbush analyst Matt Bryson raised his price target for semiconductor giant Nvidia  (NVDA) - Get Report to $600 from $525, but he took it off Wedbush’s Best Ideas List.

Initiate Coverage

Jefferies analyst Brent Thill initiated coverage of cloud-services company Snowflake  (SNOW) - Get Report with a hold rating and $250 share-price target.