Latest Upgrades and Downgrades: Bristol-Myers Squibb, Splunk, Tesla

TheStreet’s weekly guide to upgrades, downgrades and price-target changes includes Bristol-Myers Squibb, GameStop and Disney.

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

Upgrade

Bristol-Myers Squibb  (BMY) – Get Report was upgraded to buy from hold by Truist analyst Gregg Gilbert, who raised his price target on the health-care giant’s shares to $74 from $66.

Occidental Petroleum  (OXY) – Get Report was upgraded to buy from neutral by MKM Partners analyst John Gerdes, who kept a $32 price target on the shares.

Cisco  (CSCO) – Get Report was upgraded to outperform from peer perform at Wolfe Research, which raised its price target to $63 a share from $48.

Booking Holdings  (BKNG) – Get Report was upgraded to buy from hold by Jefferies analyst Brent Thill, who lifted his share price target on the online travel company to $2,800 from $2,300.

FedEx  (FDX) – Get Report was upgraded to overweight from sector weight by KeyBanc analyst Todd Fowler, who put a $350 price target on the shares.

Match Group  (MTCH) – Get Report was upgraded to buy from neutral by BTIG analyst Jake Fuller, who has a price target of $175 for the dating service giant.

JetBlue  (JBLU) – Get Report and Spirit Airlines  (SAVE) – Get Report were upgraded to overweight by J.P. Morgan Chase’s Jamie Baker.

Sunrun  (RUN) – Get Report was upgraded to overweight from neutral by Piper Sandler with a $77 price target on the solar technology company’s stock.

Tesla  (TSLA) – Get Report was upgraded to buy from hold by Canaccord analyst Jed Dorsheimer, who raised his price target by 155%, to $1,071 a share.

Nvidia  (NVDA) – Get Report was upgraded to strong buy from outperform by Raymond James analyst Chris Caso, who raised his price target to $750 from $700.

Downgrade

Splunk  (SPLK) – Get Report was downgraded by several analysts after the software developer disclosed that its chief technology officer, Tim Tully, would leave next month.

Qualcomm  (QCOM) – Get Report was downgraded to in-line from outperform by Evercore ISI analyst C.J. Muse, who cut his share-price target to $150 from $195.

GameStop  (GME) – Get Report was downgraded to sell from hold by Ascendiant Capital Markets analyst Edward Woo, who cut his price target on the videogame retailer to $10 from $12.

Initiate Coverage

Bank of America initiated coverage of Harley-Davidson  (HOG) – Get Report with a buy rating and $55 price target.

B. Riley Financial analyst Christopher Souther initiated coverage of Workhorse Group  (WKHS) – Get Report with a buy rating and a $20 price target.

Analysts at Goldman Sachs initiated coverage of Editas Medicine  (EDIT) – Get Report with a sell rating and a price target of $20 a share, a Wall Street low

CrowdStrike  (CRWD) – Get Report was initiated with a buy rating and $265 price target at Deutsche Bank.

Bank of America initiated coverage of NortonLifeLock  (NLOK) – Get Report with an underperform rating and a $19 price target. 

Coinbase Global  (COIN) – Get Report, the cryptocurrency exchange, received a buy rating and $600 price target at MoffettNathanson.

Alphabet  (GOOGL) – Get Report was added to Wedbush’s Best Ideas List by an analyst who took over coverage of the parent of search, advertising and cloud giant Google with an outperform rating.

Price Target Change

Several analysts raised their price targets for American Eagle Outfitters  (AEO) – Get Report after the apparel retailer’s stronger-than-expected business update for the quarter ended May 1.

Truist analysts raised their price target on Disney  (DIS) – Get Report to $205 from $195 and affirmed a buy rating on the stock.