Monday Afternoon’s Top Analyst Upgrades and Downgrades: ChargePoint, CrowdStrike, Nvidia and More

Stocks traded lower approaching midday on Monday, after posting the first down week since late September last week. Inflation concerns are still an upfront item across Wall Street, as White House officials, including Treasury Secretary Janet Yellen, linked inflation pressures to the COVID-19 pandemic, a view that likely is not widely shared by economists and strategists. While the House of Representatives is expected to pass the $1.75 trillion “Build Back Better” plan this week, passage in the Senate should prove to be very difficult.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Chevron, Costco, Dollar Tree, Kimberly-Clark, Shopify and more.

Bioventus Inc. (NASDAQ: BVS): Morgan Stanley resumed coverage with an Overweight rating. The shares have traded between $10.74 and $19.94 over the past year and have a $22.33 consensus price target.

ChargePoint Holdings Inc. (NYSE: CHPT): Evercore ISI started coverage with an Outperform rating and a $34 price target. The stock has traded in a 52-week range of $18.85 and $49.48 and carries a consensus price objective of $33.33.

Coresight Realty (NYSE: COR): William Blair’s downgrade was to Market Perform from Outperform. Shares hit a 52-week high of $171.53 on Monday. The consensus price objective is just $146.35.

CrowdStrike Holdings Inc. (NASDAQ: CRWD): Morgan Stanley started coverage of the cybersecurity leader with an Underweight rating and a $247 price target. The 52-week trading range for the stock is $128.21 to $298.48, and the consensus price objective is $310.48.

Navitas Semiconductor Corp. (NASDAQ: NVTS): Jefferies started coverage of the revolutionary chip stock with a Buy rating and a $24 price target. No consensus target was available as the company had a recent SPAC conversion. Since then, the shares have traded between $11.73 and $19.08.

Nvidia Corp. (NASDAQ: NVDA): UBS reiterated its Buy rating and lifted the $230 target price to $350. Citigroup also reiterated a Buy rating on the semiconductor giant, and it boosted its price target to $350 from $233. The shares have traded between $115.67 and $323.10 over the past year and have a $255.69 consensus price objective on Wall Street.

Stronghold Digital Mining Inc. (NASDAQ: SDIG): B. Riley Securities started coverage with a Buy rating and a monster $63 price target. No consensus target was available as the company had a recent initial public offering. The shares have traded between $23.35 and $35.80 so far.

TechnipFMC PLC (NYSE: FTI): Evercore ISI resumed coverage with an Outperform rating and a $12 price target. The shares have traded in a 52-week range of $5.65 to $10.70 and have a $7.76 consensus target.

Valens Semiconductor Ltd. (NYSE: VLN): Jefferies started coverage with a Buy rating and a $12 price target. The shares have traded in a 52-week range of $6.12 to $12.19 and have a $15 consensus price target.

Ventyx Biosciences Inc. (NASDAQ: VTYX) Jefferies initiated coverage on the stock with a Buy rating and a $30 price target. A consensus target was not available as the stock had a recent IPO. The shares have traded between $16.32 and $26 so far.

Zevia PBC (NYSE: ZVIA): Wells Fargo downgraded the shares to Equal Weight from Overweight and slashed the $16 target price to $11. The consensus target is $17.81. The shares have traded in a 52-week range of $9.20 to $17.50.

24/7 Wall St. screened the BofA Securities research universe, looking for the top gold stocks, and found five that look like great ideas for worried investors now. They hedge inflation and can really help if the market goes into correction or bear market mode.


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