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Upgrades and Downgrades: Starbucks, MGM Resorts, Beyond Meat

TheStreet's weekly guide to upgrades, downgrades and price-target changes includes Starbucks, MGM Resorts, Beyond Meat and the Gap.
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Analysts this week were busy upgrading, downgrading and changing price targets on a variety of companies.


Enphase Energy  (ENPH)  and SolarEdge  (SEDG)  were upgraded to positive from neutral by Susquehanna analyst Biju Perincheril.

Starbucks SBUX was upgraded to buy at BTIG, which expects a strong sales-and-earnings recovery on the back of a quick return of customers. Analyst Peter Saleh maintained his price target of $130 on the coffee-bar giant.

MGM Resorts International  (MGM)  rose after Jefferies analyst David Katz upgraded shares of the casino and entertainment company to buy from hold and raised his price target to $50 from $36.

Ford  (F)  was upgraded to overweight from equal weight by Barclays analyst Brian Johnson, who raised his price target by $3 to $16 a share, a Wall Street-high.

Carnival  (CCL)  was upgraded to buy from neutral by UBS analyst Robin Farley, who doubled her target price to $42 from $20 on optimism for the company's long-term prospects.

Volkswagen  (VWAGY)  was upgraded by analysts at JPMorgan, who lifted the stock to overweight with a price target on the preferred stock of €266 per share over the near term.


Clorox  (CLX)  was downgraded to neutral from buy by D.A. Davidson analyst Linda Bolton Weiser, who lowered her price target on the stock to $189 from $234.

China's stocks have been downgraded on a one-year outlook by analysts at BCA Research, who cited "high risk" policy overtightening and weakening technical indicators as their reasons, as the government pulls back policy support this year.

Plug Power  (PLUG)  was downgraded by several analysts who reacted to the fuel-cell company's report that it would restate its financial results going back to 2018.

Evercore ISI analyst Liisa Bayko downgraded Translate Bio  (TBIO)  to in line from outperform with a price target of $21, down from $24. The company said its cystic fibrosis treatment provided no marked increases in lung function.

NRG Energy  (NRG)  was downgraded to neutral from buy by Guggenheim analyst Shahriar Pourreza.

Price Target Change

Wells Fargo analyst Ike Boruchow raised his price target for Gap  (GPS)  to $40 a share from $32 after meeting with the clothing retailer's management. Boruchow kept his overweight rating on the stock.

Several analysts raised their price targets for Nike  (NKE)  shares even after the sports apparel company fell short of Wall Street's fiscal-third-quarter revenue expectations.

Analysts raised their price targets on shares of Williams-Sonoma  (WSM)  after the home-goods retailer posted better-than-expected fourth-quarter earnings.

Initiate Coverage

Goldman initiated coverage of 3D videogame development platform Unity Software  (U)  with a buy rating and $126 price target.

Stephens analyst Mark Connelly initiated coverage of Beyond Meat  (BYND)  with an overweight rating and a $190 price target.