Posted by admin on May 2nd, 2022
Stock Analysts’ upgrades for Monday, May 2nd:
Accolade (NASDAQ:ACCD) was upgraded by analysts at Wells Fargo & Company from an underweight rating to an equal weight rating. The firm currently has $6.00 target price on the stock.
Arthur J. Gallagher & Co. (NYSE:AJG) was upgraded by analysts at Raymond James from an outperform rating to a strong-buy rating. Raymond James currently has $195.00 price target on the stock, up from their previous price target of $185.00.
Aspen Technology (NASDAQ:AZPN) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $170.00 price target on the stock. According to Zacks, “Aspen Technology’s Q3 performance benefitted from improving customer demand. The company is well-poised to gain from its diversified product portfolio especially its asset optimization and management software solutions and Asset Performance Management (APM) suite. Rapid adoption of cloud-based solutions, proliferation of big data analytics and Internet of Things (IoT) technologies, along with higher spend on software, will likely drive its top line in the long haul. Strategic acquisitions are likely to boost top line going forward. Proposed integration with Emerson’s OSI Inc and the Geological Simulation Software business bodes well. Shares have outperformed the industry in the year-to-date period. However, stiff competition in the asset management market along with supply chain disruptions and logistics bottlenecks are added concern.”
Bath & Body Works (NYSE:BBWI) was upgraded by analysts at Cowen Inc. from a market perform rating to an outperform rating. They currently have $82.00 target price on the stock.
Bath & Body Works (NYSE:BBWI) was upgraded by analysts at Cowen Inc from a market perform rating to an outperform rating.
C.H. Robinson Worldwide (NASDAQ:CHRW) was upgraded by analysts at Zacks Investment Research from a hold rating to a strong-buy rating. The firm currently has $122.00 price target on the stock. According to Zacks, “Improving freight market conditions are aiding C.H. Robinson. Total revenues rose 42.5% year over year in 2021. In first-quarter 2022, the top line improved 41.8% owing to favorable truckload pricing to customers and handsome profits in ocean freight. The company’s measures to reward its shareholders are encouraging. In 2021, C.H. Robinson returned approximately $886 million to its shareholders. In first-quarter 2022, CHRW returned $250.6 million through a combination of cash dividends ($72.9 million) and share repurchases ($177.7 million). The positivity surrounding the stock is evident from the fact that the Zacks Consensus Estimate for 2022 earnings has improved over the past 60 days. However, rising operating expenses have the potential to limit the company’s bottom line. Weak liquidity position is another concern.”
Comerica (NYSE:CMA) was upgraded by analysts at Piper Sandler from a neutral rating to an overweight rating. They currently have $94.00 target price on the stock, up from their previous target price of $90.00.
CyberArk Software (NASDAQ:CYBR) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $165.00 target price on the stock. According to Zacks, “CyberArk is benefiting from rising demand for cyber security solutions owing to the long list of data breaches. Increasing demand for privileged access security on the back of digital transformation and cloud migration strategies remain a key growth driver. Moreover, strong presence across verticals such as banking, healthcare, government and utilities, are safeguarding CyberArk from negative effects of the coronavirus outbreak. Nonetheless, the mix toward software-as-a-service and subscription-based solutions is negatively impacting top-line results. Although the business model would help it generate stable revenues and expand margins in the long run, the company’s revenues and earnings are likely to remain under pressure until the transition completes. Moreover, increased sales & marketing expenses are likely to dampen its margins.”
New Oriental Education & Technology Group (NYSE:EDU) was upgraded by analysts at JPMorgan Chase & Co. from an underweight rating to a neutral rating.
EPAM Systems (NYSE:EPAM) was upgraded by analysts at Piper Sandler from a neutral rating to an overweight rating. Piper Sandler currently has $348.00 target price on the stock, down from their previous target price of $359.00.
Empire State Realty Trust (NYSE:ESRT) was upgraded by analysts at Evercore ISI from an in-line rating to an outperform rating. The firm currently has $11.00 target price on the stock.
Fortune Brands Home & Security (NYSE:FBHS) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. The firm currently has $75.00 target price on the stock. According to Zacks, “Fortune Brands’ first-quarter 2022 earnings and revenues beat the Zacks Consensus Estimate by 5.7% and 2.4%, respectively. The company is poised to gain from a solid product portfolio, healthy Fiberon business and acquisitions in the quarters ahead. Its focus on supply-chain optimization, operational efficiency and other initiatives are likely to be beneficial. Its shareholder-friendly policies (the quarterly dividend rate was hiked by 7.7% in December 2021) are likely to work in its favor. For 2022, it expects revenue growth of 5.5-7.5%. However, in the past year, its shares have underperformed the industry. The company has been experiencing rising costs of sales and operating expenses over time. High debt levels can be detrimental as well. Owing to international exposure, its overseas business is susceptible to currency fluctuations.”
First Interstate BancSystem (NASDAQ:FIBK) was upgraded by analysts at Keefe, Bruyette & Woods from a market perform rating to an outperform rating. The firm currently has $45.00 target price on the stock.
Green Dot (NYSE:GDOT) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. They currently have $29.00 target price on the stock. According to Zacks, “Accelerated investments in products and platform parts bode well for Green Dot’s business in the mid- to long term. The company continues to improve and scale its operating infrastructure. Further, the company's strategy to expand its addressable market using its banking-as-a-service account programs is appreciable. It's long-lasting relationship with Walmart is a key driver of operating revenues. However, Green Dot continues to witness increasing operating expenses due to investment in sales, marketing and product development. This might weigh on the company's bottom line. The company has never declared and currently do not have any plans to pay cash dividends on common stock. The company experiences fluctuations in revenues due to seasonality. Partly due to these headwinds, shares of Green Dot have declined in the past year.”
Griffon (NYSE:GFF) was upgraded by analysts at Raymond James from an outperform rating to a strong-buy rating. They currently have $40.00 target price on the stock, up from their previous target price of $33.00.
Garmin (NYSE:GRMN) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. They currently have $115.00 target price on the stock. According to Zacks, “Garmin’s first-quarter results were driven by strong performance of auto, outdoor and marine segments. Further, growing demand for adventure watches was a tailwind. Solid adoption of Chartplotters and consumer auto products contributed well. Also, strengthening momentum across specialty categories and new OEM programs was a positive. We note that Garmin’s strong focus on continued innovation, diversification and market expansion to explore growth opportunities in all its segments remains a tailwind. Notably, the stock has outperformed the industry it belongs to on a year-to-date basis. However, weak personal navigation device market remains a major headwind. Further, sluggishness in the fitness segment due to declining sales of cycling products is a concern. Additionally, uncertainties related to ongoing pandemic remain overhangs.”
HEXPOL AB (publ) (OTCMKTS:HXPLF) was upgraded by analysts at DNB Markets from a hold rating to a buy rating.
Intel (NASDAQ:INTC) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. The firm currently has $46.00 price target on the stock. According to Zacks, “Intel reported relatively modest first-quarter 2022 results, wherein both the bottom and top lines beat the respective Zacks Consensus Estimate. The company reaffirmed its earlier guidance despite short-term headwinds as it expects demand to pick up in the second half of the year. Intel is riding on prospects of the Internet of Things and Mobileye businesses. Recovery in the enterprise business of the data center segment is a positive. Mobileye growth should be driven by design wins amid recovering automotive industry. However, the Client Computing Group is expected to suffer due to component shortage. Production delays pertaining to 7 nm ramp up remain a concern. A strained Sino-U.S. trade relationship, imposition of fresh lockdown restrictions in some markets, forex woes and high debt burden remain other concerns.”
KLA (NASDAQ:KLAC) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. They currently have $335.00 price target on the stock. According to Zacks, “KLA reported fiscal third-quarter results wherein earnings & revenues grew on a year-over-year basis. Increased customer demand across each of the major product group drove the top-line. Growing investments across multiple nodes, and rising capital intensity in Foundry & logic contributed well. Increasing customer adoption of metrology applications in leading-edge technology development and capacity monitoring propelled the optical metrology business, which was a positive factor. Further, the EPC group reported strong results for the quarter, driven by strength in automotive, 5G and advanced packaging. Notably, the stock has outperformed the industry on a year-to-date basis. Yet, the impacts of coronavirus pandemic remain concerns. Also, supply chain disruptions are major headwinds. Further, mounting expenses remain negatives for the company.”
Mattel (NASDAQ:MAT) was upgraded by analysts at StockNews.com from a hold rating to a buy rating.
Mohawk Industries (NYSE:MHK) was upgraded by analysts at Bank of America Co. from an underperform rating to a neutral rating. They currently have $150.00 price target on the stock, up from their previous price target of $125.00.
Nordson (NASDAQ:NDSN) was upgraded by analysts at StockNews.com from a hold rating to a buy rating.
NGK Spark Plug (OTCMKTS:NGKSY) was upgraded by analysts at CLSA from an underperform rating to an outperform rating.
NOV (NYSE:NOV) was upgraded by analysts at Griffin Securities from a neutral rating to a buy rating. Griffin Securities currently has $26.00 price target on the stock.
Select Medical (NYSE:SEM) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. They currently have $24.00 target price on the stock. According to Zacks, “Select Medical's revenue growth courtesy of strong segmental performances is impressive. Its acquisition strategy is aiding organic growth. A geographically diversified portfolio of facilities in the United States enables it to pursue multiple potential buyout opportunities. Also, the company is well poised to capitalize on consolidation opportunities within each of the business segments, which operate in a highly fragmented market and selectively boost the company’s internal growth. Shares of the company have underperformed the industry in a year's time. Nevertheless, a solid 2022 guidance instills investors' confidence in the stock. A higher return on equity than the industry is an added advantage. However, high debt in the capital structure is a concern for the company. Its cash from operations is drying up, reflecting weakness.”
SJW Group (NYSE:SJW) was upgraded by analysts at JPMorgan Chase & Co. from a neutral rating to an overweight rating. The firm currently has $67.00 target price on the stock.
TAL Education Group (NYSE:TAL) was upgraded by analysts at JPMorgan Chase & Co. from an underweight rating to a neutral rating.
USA Compression Partners (NYSE:USAC) was upgraded by analysts at Zacks Investment Research from a strong sell rating to a hold rating. They currently have $19.00 target price on the stock. According to Zacks, “USA Compression Partners is a leading energy infrastructure provider, which specializes in large-horsepower applications. The partnership provides natural gas compressors, a must have service for the transportation of the fuel. With rising long-term consumption and production of natural gas, USA Compression’s growth prospects remain strong. Further, as a by-product of the MLP model, the partnership is largely insulated to fluctuations in commodity prices and generates stable cash flows from long-term contracts. The fact that it yields around 12% makes the stock enticing for income investors. However, USA Compression hasn’t been immune to the industry-wide inflation and supply chain challenges. The firm’s high debt levels remain a cause of worry too. Hence, investors are advised to wait for a better entry point.”
World Acceptance (NASDAQ:WRLD) was upgraded by analysts at StockNews.com from a hold rating to a buy rating.
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