Pioneer Natural Resources Co. (NYSE: PXD): UBS started coverage with a Neutral rating and a $238 target price. The consensus target is $256.91. The stock closed at $227.31 on Wednesday.
Rivian Automotive Inc. (NASDAQ: RIVN): RBC Capital Markets downgraded the stock to Sector Perform from Outperform. It also halved its $28 target price to $14, well below the $26.80 consensus target. Wednesday’s $12.82 close was down close to 4% for the day, likely on the downgrade.
Schlumberger Ltd. (NYSE: SLB): UBS raised its Neutral rating to Buy from and its price target from $48 to $66. That compares with a $64.23 consensus target and Wednesday’s close at $52.63.
Starbucks Corp. (NASDAQ: SBUX): BofA Securities reiterated a Buy rating, but the firm trimmed its $138 target price to $131. The consensus target is $112.34. Wednesday’s close at $107.16.
Tesla Inc. (NASDAQ: TSLA): While RBC Capital Markets reiterated an Outperform rating, it also trimmed its $223 target price to $217. The consensus target is $197.13. The stock closed on Wednesday at $180.59.
Topgolf Calloway Brands Corp. (NYSE: MODG): KeyBanc Capital Markets initiated coverage with an Overweight rating, but its $27 target price is less than the $33.54 consensus target. The shares closed on Wednesday at $22.83.
Trex Co. Inc. (NYSE: TREX): As BofA Securities upgraded the stock to Neutral from Underperform, its $47 target price rose to $54. The consensus target is $56.72. The shares closed Wednesday at $54.52.
Walmart Inc. (NYSE: WMT): Gordon Haskett lifted its Accumulate rating to Buy and its $155 target price to $165. The consensus target is $163.99. The stock closed on Wednesday at $150.01.
Western Alliance Bancorp. (NYSE: WAL): Wedbush’s upgrade to Outperform from Neutral included a target price hike to $50 from $38. The consensus target is $57.46. The stock closed 24% higher on Wednesday at $40.35, after the company said deposits rose $2 billion, and due to the analyst upgrade and positive commentary.
Goldman Sachs sees big benefits for some top solar companies in a new law that provides funding for residential energy efficiency and electrification. Five outstanding solar stocks look like top ideas for now and the rest of the year.
Wednesday’s top analyst upgrades and downgrades included Allstate, Amazon.com, Bath & Bodyworks, Danaher, Enterprise Products Partners, Marathon Petroleum, MGM Resorts, Microsoft, M&T Bank, NexTier Oilfield Solutions, Nike and Okta.
Originally published at 24/7 Wall St.
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