Tuesday Afternoon’s Analyst Upgrades and Downgrades: Chevron, Toyota, Victoria’s Secret and More
Concerns about the Omicron variant pushed markets lower on Tuesday, after a small bounce on Monday. At the same time, crude oil was down more than 3.5%, as stocks in ancillary industries, such as airlines, hotels and others that are highly exposed to COVID-19, took losses as well. November’s employment report will be coming out on Friday.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Dollar Tree, Square, Synchrony Financial, Tyson Foods, Zoom Video and more.
American Eagle Outfitters Inc. (NYSE: AEO): Jefferies resumed coverage with a Buy rating and a $42 price target. Shares were trading around $26 on Tuesday, and the 52-week range is $17.54 to $38.99.
Cheniere Energy Partners L.P. (NYSEAMERICAN: CQP): Barclays downgraded the stock to Underweight from Equal Weight and has a $48 price target. Shares were last seen near $41 on Tuesday, and they have a 52-week range of $32.73 to $45.75.
Chevron Corp. (NYSE: CVX): The Tudor Pickering Holt upgrade was to Buy from Hold. Shares were trading around $114 on Tuesday, and the consensus target price is $128.65.
PetroChina Co. Ltd. (NYSE: PTR): JPMorgan raised its Underweight rating to Overweight. The consensus price target is $62.90, and shares were trading near $43 apiece.
SolarEdge Technologies Inc. (NASDAQ: SEDG): Morgan Stanley downgraded the stock to Equal Weight from Overweight but raised the price target to $338 from $318. The 52-week trading range is $199.33 to $389.71, and shares were last seen near $354.48.
Sigilon Therapeutics Inc. (NASDAQ: SGTX): The Jefferies downgrade was to Hold from Buy, and the firm slashed the price target to $4 from $15. The 52-week trading range is $3.50 to $54.31, and the share price was near $4.
Toyota Motor Corp. (NYSE: TM): UBS upgraded it to Buy from Neutral. Shares were trading near $178 on Tuesday, and the consensus price target is $224.15.
Victoria’s Secret & Co. (NYSE: VSCO): Jefferies resumed coverage with a Buy rating and a $75 price target. The consensus target is $84.09. The stock was trading on Tuesday above $54.
Four mega-cap energy giants pay very solid dividends and their shares have some serious upside potential. Plus, the massive selling last Friday provides an incredible entry point for investors looking for energy exposure and income.
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