Norfolk Southern Corp. (NYSE: NSC): Wolfe Research’s upgrade was from Peer Perform to Outperform with a $255 target price. The consensus for the railroad giant, which has been all over the news after the derailment in Ohio, is $251.24. The stock closed on Tuesday at $224.55.
Nvidia Corp. (NASDAQ: NVDA): Stifel raised its $175 target price on the Hold-rated chip giant to $207. That compares with the $207.34 consensus target and Tuesday’s closing print of $206.55.
Papa John’s International Inc. (NASDAQ: PZZA): Stifel reiterated a Buy rating with a $100 target price. The consensus target is $96.06. The stock closed over 4% lower on Tuesday at $90.96.
RE/MAX Holdings Inc. (NYSE: RMAX): Stephens downgraded the real estate giant to Equal Weight from Overweight. The analyst also dropped its $28 target price to $21, below the $23.40 consensus target. Tuesday’s $18.70 close was down over 5% for the day on the downgrade and last week’s inline earnings.
RingCentral Inc. (NYSE: RNG): Oppenheimer maintained an Outperform rating with a $50 target price. The $51.46 consensus target is a little higher, but Tuesday’s final trade was at $35.49, down 4% on the day.
Riot Platforms Inc. (NASDAQ: RIOT): Needham started coverage with a Buy rating and a $9 target price. The consensus target is $9.44. The stock closed on Tuesday at $6.22, down close to 6% for the day on the weak tape and the day’s big dip in Bitcoin.
SentinelOne Inc. (NYSE: S): Wells Fargo downgraded the shares to Equal Weight from Overweight. Its $18 target price compares with the $21.34 consensus target and Tuesday’s close at $15.32.
Trustmark Corp. (NASDAQ: TRMK): Raymond James upgraded the stock from Market Perform to Outperform with a $34 target price. The consensus target is $32.00. The shares closed on Tuesday at $29.68.
TXO Energy Partners L.P. (NYSE: TXO): After its recent successful initial public offering, Capital One started coverage with an Overweight rating and a $35 target price. Raymond James started it at Strong Buy with a $34 target price, while Stifel initiated coverage with a Buy rating and a $31 target. The stock closed on Tuesday at $23.25, which was up close to 3% for the day on the positive Wall Street coverage.
The best strategy for worried investors now may be to move from riskier assets to dividend-paying stocks that can hold their ground if we slip into a recession, such as six top defensive picks from the Goldman Sachs Conviction List.
Tuesday’s top analyst upgrades and downgrades included Axalta Coating Systems, Canada Goose, Cisco Systems, Coca-Cola, Coinbase Global, Datadog, DraftKings, GE Healthcare Technologies, MongoDB, Monster Beverage, Roku, TechnipFMC, Toast, XP and Zim Integrated Shipping Services.
Originally published at 24/7 Wall St.
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