Analysts were busy this week, upgrading, changing price targets, and initiating coverage of a variety of companies.
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.
Jefferies analyst Brent Thill initiated coverage of cloud-services company Snowflake (SNOW) - Get Report with a hold rating and $250 share-price target.