Analysts were busy this week, upgrading, changing price targets, and initiating coverage of a variety of companies.
Macy's (M) - Get Report and Kohl's (KSS) - Get Report were both upgraded by Jefferies analyst Stephanie Wissink to buy. The analyst, who said Covid-19 "is not the death knell," also raised her price targets on Macy's to $14 from $9 and Kohl's to $47 from $23.
Twitter (TWTR) - Get Report was upgraded to overweight from neutral by J.P. Morgan analyst Doug Anmuth, based on strength in the digital ad market. The analyst raised his price target to $65, a Wall Street high, from $52.
Dow Inc. (DOW) - Get Report was upgraded by J.P. Morgan analyst Jeffrey Zekauskas to overweight from neutral. The domestic polyethylene market is tight, and there is "little chance" that prices will be lower despite market expectations.
Chipotle Mexican Grill (CMG) - Get Report was upgraded to buy from hold by Stifel analyst Chris O'Cull, who also raised his stock price target to $1,500 from $1,400, saying the company "has demonstrated impressive resilience during the pandemic."
Huntington Bancshares (HBAN) - Get Report was downgraded to equalweight from overweight by Stephens analyst Terry McEvoy who also raised his price target on shares of the financial services company to $14 from $12.
United Airlines (UAL) - Get Report, JetBlue Airways (JBLU) - Get Report, and Spirit Airlines (SAVE) - Get Report were double-downgraded by J.P. Morgan analyst Jamie Baker to underweight from overweight. Baker attributed the move to inflated valuations for the stocks after their recent run-up.
DoorDash (DASH) - Get Report was downgraded by D.A. Davidson analyst Tom White to neutral from buy on valuation concerns amid a runup in the company's stock. White also raised his price target to $150 from $93 a share.
Price Target Change
Two analysts raised their price targets for the online pet supplies retailer Chewy (CHWY) - Get Report. RBC Capital analyst Mark Mahaney lifted his target to $113 from $85, keeping his outperform rating, while Needham analyst Rick Patel boosted his price target to $110 from $90, keeping his buy rating.
Susquehanna analyst Shyam Patil initiated coverage of Airbnb and DoorDash with positive ratings. Airbnb was initiated a $180 price target. DoorDash was initiated with a $185 price target. Both price targets are Wall Street highs for the stocks.