Thursday’s Top Analyst Upgrades and Downgrades: Baidu, Corning, Merck, Meta Platforms, Microsoft, Pfizer, Rivian, Target and More

Celanese Corp. (NYSE: CE): RBC Capital Markets upgraded the stock to Outperform from Market Perform and boosted its $98 target price to $125. The consensus target is $120.04. The shares ended trading Wednesday at $109.15, which was up close to 7% for the day, on the upgrade.

Charles Schwab Corp. (NYSE: SCHW): The Goldman Sachs upgrade was from Neutral to Buy with a $98 target price. The consensus target is $93.07. Wednesday’s close was at $83.35.

Chart Industries Inc. (NYSE: GTLS): Raymond James lifted its Market Perform rating to Strong Buy with a $160 target price. The consensus target is higher at $205.60. The stock closed on Wednesday at $119.19.

Corning Inc. (NYSE: GLW): Credit Suisse raised the fiber-optic leader to Outperform from Neutral and has a $36 target price. The consensus target is $37.18. The stock closed almost 5% higher on Wednesday at $34.11 on the upgrade.

CyberArk Software Ltd. (NASDAQ: CYBR): SMBC Nikko initiated coverage with a Neutral rating and a $145 target price. The consensus target is up at $179.48. The last trade for Wednesday was reported at $129.27.

JFrog Ltd. (NASDAQ: FROG): As BofA Securities raised its Neutral rating to Buy, the target price rose to $32 from $28. The consensus target is $28.67. The shares ended Wednesday trading at $22.43.

Livent Corp. (NASDAQ: LTHM): The Hold rating at Vertical Research is now Buy with a $30 target price. The consensus target is $33.52. The shares closed on Wednesday at $19.52, up close to 3% for the day on the upgrade.

Maxeon Solar Technologies Ltd. (NASDAQ: MAXN): Raymond James raised its Market Perform rating to Outperform with a $22 target price. The consensus target is $23.60. The stock ended trading on Wednesday at $17.64, a 15% gain on the upgrade and the prospects for a new CEO, which was announced last week.

Merck & Co. Inc. (NYSE: MRK): The BofA Securities Neutral rating on the pharmaceutical giant is now Buy. Its $110 target price increased to $130, well above the $115.09 consensus target. The stock closed on Wednesday at $112.08.

Meta Platforms Inc. (NASDAQ: META): New Street began covering the Facebook/Instagram parent with a Buy rating and a $145 price objective. The higher $152.09 consensus target is also well above Wednesday’s closing share price of $127.37.

Microsoft Corp. (NASDAQ: MSFT): UBS’s downgraded to Neutral from Buy included a target price cut to $250 from $300. The consensus target is $296.61. Wednesday’s close was at $229.10, down over 4% for the day on the downgrade, as UBS was concerned about growth at Azure.

Nucor Inc. (NYSE: NUE): BofA Securities resumed coverage of the steel leader with a Buy rating and a $172 target price. The consensus target is $129.51. The stock closed almost 5% higher on Wednesday at $137.00.

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