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Latest Upgrades and Downgrades: Wynn, Honeywell, Apple

TheStreet's weekly guide to upgrades, downgrades, price-target changes and initiations of coverage includes Wynn Resorts, Apple, Honeywell and Chevron.

Analysts were busy this week, upgrading, changing price targets, and initiating coverage on a variety of companies.


Wynn Resorts  (WYNN) - Get Wynn Resorts Limited Report was upgraded by Argus Research analyst John Staszak to buy from hold with a price target of $160 amid optimism about the casino operator's properties in Las Vegas, Boston and Macau.

ViacomCBS  (VIACA) - Get ViacomCBS Inc. Class A Report received an upgrade to outperform from peer perform from Wolfe Research analyst John Janedis, who trimmed his price target to $70 from $80 to reflect recent market activity.

Victoria's Secret parent L Brands  (LB) - Get L Brands, Inc. Report and Abercrombie & Fitch  (ANF) - Get Abercrombie & Fitch Company Report were among the retailers upgraded by a UBS analyst to buy as he favors stocks with strong and under-appreciated post-pandemic growth prospects.

Hudbay Minerals  (HBM) - Get Hudbay Minerals Inc. (Canada) Report received a double upgrade from analysts at Bank of America to buy from underperform. Analyst Lawson Winder raised his price target for the Canadian copper miner to C$12.20 from C$10.60 a share.

Casino operators Caesars Entertainment  (CZR) - Get Caesars Entertainment Inc. Report and MGM Resorts Entertainment International  (MGM) - Get MGM Resorts International Report were upgraded by Morgan Stanley to overweight from equal weight.

United Airlines  (UAL) - Get United Airlines Holdings Inc. Report and Alaska Air Group  (ALK) - Get Alaska Air Group Inc. Report were upgraded by Morgan Stanley. United was upgraded to equal weight from underweight, and Alaska Air went to overweight from equal weight.

Honeywell International  (HON) - Get Honeywell International Inc. Report WAS upgraded by Deutsche Bank to buy from hold who believes the industrial giant's stock WAS one of the most attractive in its peer group. Analyst Nicole DeBlase raised her price target to $244 from $222 a share.

CyberArk Software  (CYBR) - Get CyberArk Software Ltd. Report was upgraded by analysts at Baird Equity Research to outperform from market perform while maintaining a $170 price target. 

Carnival  (CCL) - Get Carnival Corporation Report was upgraded to outperform from neutral by a Credit Suisse analyst who sees a mid or late-summer cruise restart from the COVID-19 shutdown as looking increasing likely.

Charles Schwab  (SCHW) - Get Charles Schwab Corporation (The) Report was added to Goldman Sachs' Conviction Buy list ahead of its earnings report. Goldman raised its price target on the largest publicly traded e-broker to $77 from $67.

Costco Wholesale  (COST) - Get Costco Wholesale Corporation Report received a host of Wall Street upgrades following stronger-than-expected March sales data from the bulk discount retailer.


WW International  (WW) - Get WW International Inc. Report was downgraded by Morgan Stanley analyst Lauren Schenk to equal weight from overweight, saying she was "underwhelmed by the magnitude of subscriber growth" at the weight-loss program operator.

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F5 Networks  (FFIV) - Get F5 Inc. Report was downgraded by Credit Suisse to neutral from outperform with a $207 price target ahead of its fiscal-second-quarter earnings report at the end of the month.

NXP Semiconductors  (NXPI) - Get NXP Semiconductors N.V. Report was downgraded to equal weight from overweight by analysts at Morgan Stanley. The investment firm raised its price target on NXP to $213 a share from $190.

Chevron (CVX) - Get Chevron Corporation Report was downgraded to neutral from Goldman Sachs analyst Neil Mehta, who cut his price target $4 to $117 per share.

Price Targets

Analysts at Truist raised their price target on Chipotle Mexican Grill  (CMG) - Get Chipotle Mexican Grill Inc. Report to $1,750 from $1,700 and affirmed a buy rating.

Apple  (AAPL) - Get Apple Inc. Report had its price target cut to $156 from $164 a share by Morgan Stanley analyst Katy Huberty. who also raised her services revenue estimate for the technology giant.

General Electric  (GE) - Get General Electric Company Report had its price target raised $2 to $17 a share --among the highest on Wall Street--by UBS analyst Markus Mittermaier, who maintained his buy rating.

Analysts at Loop Capital reiterated a sell rating and $1 price target on theater chain AMC Entertainment  (AMC) - Get AMC Entertainment Holdings Inc. Class A Report

Several analysts raised their price targets for Levi Strauss  (LEVI) - Get Levi Strauss & Co Class A Report after the jeans maker reported better-than-expected earnings and raised its guidance.

Wedbush analyst Dan Ives lifted his price target on Tesla  (TSLA) - Get Tesla Inc. Report to $1,000 a share, with a "bull case" level of $1,300.

Initiations of Coverage

Analysts at Oppenheimer initiated coverage of microcap pharmaceutical Oncternal Therapeutics  (ONCT) - Get Oncternal Therapeutics Inc. Report with an outperform rating and a $14 price target. 

Cowen analyst Max Rakhlenko initiated coverage of Williams-Sonoma  (WSM) - Get Williams-Sonoma Inc. (DE) Report with an outperform rating and a $214 price target.

Jefferies analyst David Katz initiated coverage of Golden Nugget Online Gaming  (GNOG) - Get Golden Nugget Online Gaming Inc. Report with a buy rating and a $28 price target "based on demonstrated leadership-level assets and capabilities."

Sunrun  (RUN) - Get Sunrun Inc. Report is "the leading player in the rapidly growing U.S. rooftop solar market," said RBC Capital Elvira Scotto, who initiated coverage on shares of the solar-energy company with an outperform rating and $81 price target.