Merit Medical Systems Inc. (NASDAQ: MMSI): Canaccord Genuity downgraded the stock to Hold from Buy and trimmed its $73 target price to $72. The consensus target is $75.25. The shares ended trading on Tuesday at $69.32.
MKS Instruments Inc. (NASDAQ: MKSI): KeyBanc Capital Markets upgraded the stock to Overweight from Sector Weight, but its $100 price objective is less than the $106.88 consensus target. The stock closed 4% higher on Tuesday at $84.07 on the upgrade.
Rivian Automotive Inc. (NASDAQ: RIVN): Cantor Fitzgerald initiated coverage with an Overweight rating and a $22 target price. The consensus target is higher at $46.22. The stock closed on Tuesday at $21.40, down almost 3% for the day.
Steel Dynamics Inc. (NASDAQ: STLD): Zacks named this as its Bull of the Day stock, with the analyst pointing to the recent pullback and rising earnings estimates. The shares last closed at $103.20, which is about 36% higher than 90 days ago.
Tapestry Inc. (NYSE: TPR): Raymond James started coverage with an Outperform rating and has a $44 target price. The consensus target is $35.71. The closing trade on Tuesday was for $35.95 a share.
Trade Desk Inc. (NASDAQ: TTD): Piper Sandler initiated coverage with an Overweight rating and a $60 target price. The consensus target is $61.70. The stock closed almost 6% higher on Tuesday at $46.59 after the upgrade.
Walmart Inc. (NYSE: WMT): Credit Suisse resumed coverage with an Outperform rating and slid its $160 target price up to $170. The consensus target is $160.89. The stock closed Tuesday’s session at $144.05.
Zymeworks Inc. (NASDAQ: ZYME): As Jefferies upgraded the stock to Buy from Hold, it lifted its $7.70 target price to $11. The consensus target is $12.67, and the stock closed at $7.08 on Tuesday.
A top Wall Street strategist believes five well-known, lower-cap top tech and internet stocks could see a huge “January effect” tailwind in the new year, bouncing back after being hammered in the past year.
Tuesday’s early top analyst upgrades and downgrades included AT&T, Baxter International, Centene, Darden Restaurants, Lennar, L3 Harris Technologies, MGM Resorts International, Nvidia and Vertex Pharmaceuticals. Analyst calls seen later in the day were on BJ’s Wholesale Club, Boston Scientific, Conagra Brands, NetApp, Norfolk Southern, Spirit Airlines, Stitch Fix, Target, Union Pacific and more.
Originally published at 24/7 Wall St.
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