Wednesday’s Top Analyst Upgrades and Downgrades: Carnival, Fox, Marathon Petroleum, Occidental Petroleum, Paramount, Salesforce and More

Bowlero Corp. (NYSE: BOWL): Stifel started coverage with a Buy rating and a $26 price target. The consensus target is $19.29. The stock closed on Tuesday at $16.38, which was up almost 8% for the day on the initiation.

Carnival Corp. & PLC (NYSE: CCL): Wells Fargo lifted its Underweight rating to Equal Weight with a $9 target. The consensus target is $10.93. The shares closed up over 6% on Tuesday at $9.33. Solid results were posted this week.

Carrier Global Corp. (NASDAQ: CARR): Oppenheimer initiated coverage with an Outperform rating and a $51 target price. The consensus target is $49.34, and Tuesday’s close was at $44.75.

Ciena Corp. (NASDAQ: CIEN): As Raymond James upgraded the stock to Strong Buy from Outperform, it boosted its $58 target price to $70. The consensus target is $63.64 for now. Tuesday’s close at $50.81 was up over 4% on the day after the upgrade and the company’s entry in the edge router silo.

DocuSign Inc. (NASDAQ: DOCU): Jefferies reiterated a Buy rating with an $80 target price. The consensus target is just $68.12. Shares closed at $57.04 on Tuesday.

Easterly Government Properties Inc. (NYSE: DEA): Janney upgraded the shares from Neutral to Buy with a $17 target price. The consensus target is $14.83. Tuesday’s close at $13.19 was up over 4% for the day on the upgrade.

Elevance Health Inc. (NYSE: ELV): RBC Capital Markets upgraded the stock to Outperform from Sector Perform. It also raised its $523 price objective to $572, more in line with the $572.71 consensus target. The shares closed on Tuesday at $458.58.

Fox Corp. (NASDAQ: FOXA): The BofA Securities downgrade to Neutral from Buy included a target price cut to $34 from $42. The consensus target is $38.38. Shares closed on Tuesday at $32.76.

Genesco Inc. (NYSE: GCO): Seaport Research Partners upgraded the stock to Buy from Neutral and has a $50 target price. The consensus target is $43.00. Tuesday’s $36.29 close was up close to 8% for the day on the upgrade and positive comments.

Inari Medical Inc. (NASDAQ: NARI): Truist Financial boosted its $65 target price to $68 while keeping a Hold rating. The consensus target is up at $89.14. Tuesday’s close was at $62.45.

Marathon Petroleum Corp. (NYSE: MPC): Though J.P. Morgan downgraded the stock to Neutral from Overweight, the analyst lifted the $137 target price to $149. The consensus target is $152.27. The last trade on Tuesday was reported at $131.57.

Occidental Petroleum Corp. (NYSE: OXY): TD Cowen lifted its Market Perform rating to Outperform. It also lifted its target price to $70, still below the $71.56 consensus target. Tuesday’s closing print of $62.22 up close to 4% on the day. Warren Buffett added millions of shares this month when crude traded lower.

PagSeguro Digital Ltd. (NYSE: PAGS): Citigroup’s upgrade was from Neutral to Buy with a $12 target price. The consensus target is $14.44. The $8.33 close on Tuesday was up over 4% on the upgrade.

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