Analysts this week were busy upgrading, downgrading, changing price targets on and initiating coverage of a variety of companies.
Costco (COST) was upgraded to overweight by Wells Fargo analyst Edward Kelly with a price target of $370. Kelly cited solid membership growth and potentially "sticky" market-share gains from the now-fading pandemic. He added that recent pullback in the shares could be a buying opportunity.
Coca-Cola (KO) was upgraded to outperform from sector perform by analysts at RBC Capital, who called the drinks icon's stock an opportunity as COVID restrictions ease. The firm raised its price target to $60 a share from $55.
Price Target Change
Acadia Pharmaceuticals (ACAD) saw analysts cut their price targets for the biopharm after the U.S. Food and Drug Administration paused a new drug application for pimavanserin, the company's psychosis treatment. Stifel analyst Paul Matteis also downgraded the stock to hold from buy.
Jefferies analyst Stephanie Wissink initiated coverage of Nordstrom (JWN) with a buy rating and a price target of $48 a share. The analyst sees "the making of transformation" in the Seattle company's model.
Mizuho analyst Vijay Rakesh initiated coverage of the electric vehicle makers Tesla (TSLA) and NIO (NIO) with buy ratings. Rakesh set a $775 share price target for Tesla and a $60 share price target for NIO.