January 2, 2021

Alphabet, Tilray, Roku: Latest Upgrades and Downgrades

By c05tkey

Alphabet (GOOGL) – Get Report was upgraded to buy from hold by analysts at Loop Capital Markets, who also lifted their price target for shares of the advertising, search and cloud giant to $2,525 from $1,895.

Palantir Technologies (PLTR) – Get Report was upgraded to buy from neutral by analysts at Goldman Sachs, who also more than doubled their share-price target for the data-analytics company to $34 from $13.

Invitae (NVTA) – Get Report was upgraded to buy at Ladenburg Thalmann, which cited growth potential and cost controls at the medical genetics company.

Downgrade
Tech-security and software company BlackBerry (BB) – Get Report was downgraded to sell from hold by a Canaccord Genuity analyst, who raised concern about volatility in the shares.

Callaway Golf (ELY) – Get Report was downgraded to market perform from outperform by analysts at Cowen, who also raised their share-price target for the golf-equipment producer to $28 a share from $22.
Tilray (TLRY) – Get Report was downgraded to neutral from overweight, by Piper Sandler, which raised its price target to $26 from $15. Benchmark cut its rating to hold from buy and more than doubled its price target to $32 from $12.

Price-Target Change
Roku’s (ROKU) – Get Report fourth-quarter earnings beat prompted at least two Wall Street analysts to raise their one-year price targets on the stock.

Analysts at DA Davidson, Jefferies and Susquehanna raised their price targets for Trade Desk (TTD) – Get Report after the application software company beat Wall Street’s fourth-quarter-earnings expectations.

Deutsche Bank analyst Bryan Keane raised his price target on Square (SQ) – Get Report to $330 a share from $255 and affirmed a buy rating on the payment processor.

Several analysts raised their price targets for Applied Materials (AMAT) – Get Report after the semiconductor giant reported revenue and adjusted profit that beat analysts’ expectations.

Oppenheimer analyst Jed Kelly raised his target price on the sports-betting platform DraftKings (DKNG) – Get Report to $80 from $65 and affirmed his outperform rating.