Pegasystems Inc. (NASDAQ: PEGA): When Exane BNP Paribas upgraded the stock to Outperform from Neutral, its $50 target price rose to $65. The stock hit a 52-week high of $56.65 on Wednesday after the upgrade. The $55.90 close was a gain of over 14% for the day.
Plug Power Inc. (NASDAQ: PLUG): Citigroup started coverage with a Buy rating and a $13 target price. The consensus target is $18.70. The stock closed on Wednesday at $10.64, up over 3% for the day, on the initiation.
Rivian Automotive Inc. (NASDAQ: RIVN): D.A. Davidson upgraded the stock to Neutral from Underperform and lifted the price target to $18 from $11. Needham reiterated a Buy rating, and its $26 target price increased to $28. The consensus target is $22.85. Wednesday’s close at $20.43 was up 4.45% for the day on the upgrade.
SPX Technologies Inc. (NYSE: SPXC): Though UBS downgraded the stock to Hold from Buy, the analyst did lift the $80 target price to $90. The consensus target is $89.00. The stock closed on Wednesday at $79.17, down 7% for the day on the downgrade.
Transocean Ltd. (NYSE: RIG): Citigroup boosted its Neutral rating to Buy from and its $6.50 target price to $9.50. The consensus target is $7.31. The stock closed Wednesday’s session at $7.35, which was up over 4.5% for the day on the upgrade and positive commentary.
U.S. Steel Corp. (NYSE: X): Exane BNP Paribas downgraded the stock from Outperform to Neutral with a $26 target price. The consensus target is $26.84. Wednesday’s $23.96 close was down almost 5% for the day after the downgrade.
Vici Properties Inc. (NYSE: VICI): When Deutsche Bank downgraded the gambling REIT giant to Hold from Buy, its target price slipped to $34 from $39. The consensus target is $37.88, and shares ended Wednesday trading at $31.33.
Artificial intelligence, the next big thing, is here, but the big money has yet to made and the mega-cap tech companies are likely to benefit first. Five big tech stocks have been hit hard and still offer some of the most outstanding entry points in years.
Wednesday’s top analyst upgrades and downgrades included Amazon.com, BioMarin Pharmaceutical, Constellation Brands, Dominion Energy, Lucid, Nike, Southern Company, Tesla, Valero Energy, Walgreens Boots Alliance and Wells Fargo.
Originally published at 24/7 Wall St.
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