Latest Upgrades and Downgrades: Apple, eBay, DraftKings

TheStreet's weekly guide to upgrades, downgrades and price-target changes includes Apple, eBay and DraftKings.
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Analysts were busy this week, upgrading, downgrading, changing price targets, and initiating coverage on a variety of companies.

Upgrade

Apple  (AAPL) - Get Report was upgraded by a number of analysts after the computer giant posted blowout second-quarter results.

Spotify Technology  (SPOT) - Get Report was upgraded to buy from hold by Pivotal Research analyst Jeffrey Wlodarczak, who affirmed his price target at $340 a share

Casper Sleep  (CSPR) - Get Report was upgraded to outperform from neutral by analysts Wedbush Securities, who raised their price target on the mattress and accessories maker to outperform to $10.50 from $10 a share

Downgrade

Online retailer Etsy  (ETSY) - Get Report was downgraded by KeyBanc analyst Edward Yruma to sector weight from overweight.

Price Target Change

Enphase Energy  (ENPH) - Get Report had its price target cut by several analysts after the solar-energy company lowered its earnings guidance for the second quarter.

EBay  (EBAY) - Get Report had its price target cut by several analysts after the company issued a forecast for the current quarter suggesting that spending on the e-commerce company could wane as more people get vaccinated.

Skyworks  (SWKS) - Get Report had its price target raised by several analysts after the chipmaker reported better-than-expected fiscal second-quarter earnings.

Several analysts lowered their share-price targets for Teladoc Health  (TDOC) - Get Report after the online healthcare provider reported weaker-than-expected quarterly profit.

Wall Street analysts lifted their one-year price targets on Alphabet  (GOOGL) - Get Report after the Google parent and YouTube owner reported first-quarter results that handily beat expectations.

Berenberg analysts raised their price targets on FedEx  (FDX) - Get Report to $350 from $340 and reiterated their buy rating.

Initiate Coverage

RBC analysts initiated coverage of the payment processor Paysafe  (PSFE) - Get Report with an outperform rating and $19 price target. 

Guggenheim Securities initiated coverage of sports betting company DraftKings  (DKNG) - Get Report with a buy rating and $75 price target.

Needham initiated coverage of the gambling company Penn National Gaming  (PENN) - Get Report with a buy rating and a $151 price target. Needham also started covering DraftKings with a buy rating and $81 price target.