Analysts were busy this week, upgrading, downgrading, changing price targets, and initiating coverage of a variety of companies.
Telsey Advisory analyst Dana Telsey upgraded her rating on Urban Outfitters to outperform from market perform and lifted her one-year target to $30 from $24, while Loop Capital analyst Laura Champine upgraded her rating to hold from sell with a $24 price target.
Chinese electric-car maker Nio (NIO) - Get Report received two upgrades this week. Morgan Stanley analyst Tim Hsiao lifted the company to overweight from equal weight and raised his price target to $20.50 from $12. UBS analyst Paul Gong raised his rating to neutral from sell, while increasing his share-price target to $16.30 from $1.
VBI Vaccines (VBIV) - Get Report was upgraded to strong buy from outperform by Raymond James analyst Steven Seedhouse, who raised his price target to $9 from $8. The biopharma said it intended to begin human testing of two of its experimental coronavirus vaccine candidates at year's end.
Citi analyst Paul Lejuez upgraded Gap (GPS) - Get Report to buy from neutral, citing the untapped potential of the clothing retailer's Athleta brand. Lejuez also doubled his price target to $24 a share.
Dell Technologies (DELL) - Get Report shares were upgraded by securities analysts amid the computer company's second-quarter earnings results and the prospect that it might spin off enterprise cloud company VMware (VMW) - Get Report.
Pinterest (PINS) - Get Report was downgraded to neutral from buy. Citi analyst Jason Bazinet also raised the price target to $35 from $25. Bazinet said Pinterest's valuation doesn't allow "much room for downward estimate revisions (or higher interest rates)."
Sports gambling company DraftKings (DKNG) - Get Report and casino company Penn National Gaming (PENN) - Get Report were both downgraded by Morgan Stanley to equal weight from overweight amid valuation concerns. Analyst Thomas Allen raised his share-price target for DraftKings to $37 from $26, and raised his price target for Penn National to $55 from $49 a share.
Price Target Changes
Wedbush Securities analyst Dan Ives lifted his Apple (AAPL) - Get Report price target to $600 per share, amid what he calls a 'once in a decade' opportunity for the tech giant to take advantage of iPhone upgrades ahead of the advance of 5G infrastructure rollouts and the launch of the iPhone 12.
Facebook (FB) - Get Report and Alphabet (GOOGL) - Get Report received higher share-price targets from UBS analyst Eric Sheridan, who is optimistic about the potential for e-commerce ads. Sheridan lifted his target for Facebook to $330 from $242 and boosted his Alphabet target to $1,970 from $1,600. He maintained buy ratings for both companies.
Oppenheimer analyst Brian Nage raised his price target on GrowGeneration (GRWG) - Get Report to $25 from $15, while keeping an outperform rating on the shares. Stifel also initiated coverage of GrowGeneration with a buy rating and $22 price target.