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Upgrades and Downgrades: Roku, DraftKings, Costco

TheStreet's weekly guide to upgrades and price-target changes includes Roku, DraftKings, Plug Power and General Electric.

Stock analysts this week were busy with upgrades, price-target changes and initiations of coverage.


Roku  (ROKU)  was upgraded by KeyBanc analyst Justin Patterson to overweight from sector weight with a $518 price target. The analyst said the streaming platform "is becoming a key enabler of the direct-to-consumer video ecosystem."

Plug Power  (PLUG)  was upgraded to overweight from neutral by J.P. Morgan's Paul Coster, who said he was taking advantage of recent volatility to upgrade the hydrogen fuel cell company.

Norwegian Cruise Line  (NCLH) , Carnival  (CCL) , and Royal Caribbean  (RCL)  were all upgraded to outperform from neutral by Macquarie analyst Paul Golding, who acted on the easing of the coronavirus crisis.

Tripadvisor  (TRIP)  was upgraded to buy from neutral at Citi, which estimated the travel-planning company's subscription offering, Tripadvisor Plus, could attract 10 million subscribers, "creating an additional $1 billion of high-margin revenue."

Wayfair  (W)  was upgraded to buy from hold by Truist analyst Naved Khan, who also raised his price target for the online home-furnishings company to $370 a share from $315.

Beyond Meat  (BYND)  was upgraded to buy from neutral by Citi analyst Wendy Nicholson, who also raised her price target on the plant-based-food company by $43 to $184 per share.

Oracle  (ORCL)  was upgraded to overweight from equal weight by Barclays analyst Raimo Lenschow, who raised his share price target on the software giant to $80 from $66. 

Price Target Change

Macquarie analyst Chad Beynon raised his price target for Imax  (IMAX)  to $25 from $24 while keeping an outperform rating on the motion picture technology company after Imax's fourth-quarter earnings beat. Benchmark analyst Mike Hickey also raised his target on Imax to $24 from $22 while keeping a buy rating.

UBS analyst Markus Mittermaier raised his price target for General Electric  (GE)  to $15 from $14. The analyst affirmed a buy rating on the stock. Morgan Stanley analyst Jashua Pokrzywinsk lifted his price target on GE by $4, to $17 per share.

Analysts raised their price targets and revenue estimates on DraftKings  (DKNG)  after the sports-betting platform reported fourth-quarter results. The company reported fourth-quarter revenue doubled.

Some analysts lowered their price targets for Okta  (OKTA)  as they reacted to the identity-verification software maker’s weak earnings outlook and planned $6.5 billion purchase  of smaller rival Auth0 for stock.

Analysts cut their price targets for Vroom  (VRM)  after the online used-car seller reported a wider-than-expected fourth-quarter loss.

Costco  (COST)  saw its price target cut by analysts after the membership-based warehouse retailer missed second-quarter-earnings expectations.

Initiate Coverage

Susquehanna analysts initiated coverage of Bumble  (BMBL)  at positive, which put a $78 price target on the dating-app company.