Okta Inc. (NASDAQ: OKTA): SMBC Nikko initiated coverage with an Outperform rating and a $90 target price. The consensus target is $77.49. The stock closed on Wednesday at $70.18.
Pfizer Inc. (NYSE: PFE): The BofA Securities downgrade was from Buy to Neutral with a $60 target. The consensus target is $55.49. The shares closed on Wednesday at $50.13.
PowerSchool Holdings Inc. (NYSE: PWSC): As BofA Securities lifted its Neutral rating to Buy, its $20 price target went to $32. The consensus target is $22. Wednesday’s close was at $22.92.
Rapid7 Inc. (NASDAQ: RPD): Barclays downgraded the shares to Equal Weight from Overweight. It also trimmed its $40 target price to $37, well below the $46.36 consensus target. The stock closed on Wednesday at $35.30.
Rivian Automotive Inc. (NASDAQ: RIVN): Truist Securities reiterated a Buy rating but lowered its target price to $50 from $65. The consensus target is $43.89. The stock closed on Wednesday at $17.71.
Snap Inc. (NYSE: SNAP): New Street started coverage with a Buy rating and a $12 target price. The consensus target is $11.63. The stock was last seen on Wednesday trading at $9.30, up 5% on the day, likely on the new positive coverage.
Target Corp. (NYSE: TGT): Wells Fargo not only downgraded the big-box retail giant to Equal Weight from Overweight, it slashed the $170 target price to $142. The consensus target is up at $175.23. The last trade on Wednesday was for $152.72 a share.
Trane Technologies PLC (NYSE: TT): UBS upgraded the stock to Buy from Hold and boosted its $168 target price to $200, which would be a new 52-week high. The stock closed on Wednesday at $174.31.
Veeva Systems Inc. (NYSE: VEEV): Barclays upgraded the stock to Overweight from Equal Weight and set a $205 target price. The consensus target is $212.57, and Wednesday’s final print was $166.43, up more than 4% likely on the upgrade.
Vornado Realty Trust (NYSE: VNO): Though Mizuho upgraded the stock to Neutral from Underperform, it trimmed the $25 target price to $23. The consensus target is $23.45. The stock closed on Wednesday at $21.23.
BofA Securities’ top trading ideas for the first quarter of 2023 include Goldman Sachs, Procter & Gamble and other outstanding stock picks for growth investors that could deliver in the short term. Also see the firm’s top picks per sector.
Wednesday’s top analyst upgrades and downgrades included Amazon, AMC Entertainment, Apollo Global Management, Apple, Block, Capital One Financial, Carlyle, CVS Health, Etsy, Fox, Gilead Sciences, Goldman Sachs, GSK, PayPal, Tesla, T-Mobile, U.S. Bancorp and Wynn Resorts.
Originally published at 24/7 Wall St.
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