Stock Analysts Boost Prices, Initiate Coverage of Several Firms

Strategic Insights -

Stock analysts have been actively upgrading shares, revising price targets, and initiating coverage of various companies. Among the notable upgrades, Roku, Plug Power, Norwegian Cruise Line, Carnival, Royal Caribbean, Tripadvisor, Wayfair, Beyond Meat, and Oracle received upgrades from analysts, with many price targets being raised. Additionally, analysts initiated coverage of Bumble, assigning a positive rating and a price target of $78 per share.

Key Takeaways:

  • Roku's streaming platform was described as a "key enabler of the direct-to-consumer video ecosystem" by KeyBanc analyst Justin Patterson, leading to an upgrade to overweight from sector weight.
  • Plug Power's hydrogen fuel cell technology was upgraded to overweight from neutral by J.P. Morgan's Paul Coster, who took advantage of recent volatility to upgrade the stock.
  • Tripadvisor's subscription offering, Tripadvisor Plus, was estimated to attract 10 million subscribers, creating an additional $1 billion of high-margin revenue.
  • Beyond Meat's plant-based food business was upgraded to buy from neutral by Citi analyst Wendy Nicholson, with a raised price target to $184 per share.
  • Analysts initiated coverage of Bumble, assigning a positive rating and a price target of $78 per share.
  • Imax's motion picture technology business was upgraded to outperform by Macquarie analyst Chad Beynon, with a raised price target to $25.
  • General Electric's stock price was raised by UBS analyst Markus Mittermaier to $15, while Morgan Stanley analyst Jashua Pokrzywinski lifted the price target to $17.

Statistics:

  • Roku's price target was raised to $518.
  • Plug Power's stock price was upgraded to overweight from neutral.
  • Tripadvisor's subscription offering is estimated to attract 10 million subscribers.
  • Beyond Meat's price target was raised to $184 per share.
  • Imax's price target was raised to $25.
  • General Electric's stock price was raised to $15 by UBS analyst Markus Mittermaier.
  • Morgan Stanley analyst Jashua Pokrzywinski raised the price target to $17.
  • Bumble's price target was initiated at $78 per share.

Sources:

  • TheStreet.com - "Roku upgraded by KeyBanc analyst to overweight from sector weight, price target $518"
  • TheStreet.com - "Plug Power upgraded to overweight by J.P. Morgan's Paul Coster, stock price target $42"
  • TheStreet.com - "Tripadvisor upgraded to buy from neutral at Citi, estimated 10 million subscribers"
  • TheStreet.com - "Beyond Meat upgraded to buy from neutral by Citi analyst Wendy Nicholson, price target $184"
  • TheStreet.com - "Imax upgraded to outperform by Macquarie analyst Chad Beynon, price target $25"
  • TheStreet.com - "General Electric upgraded to buy by UBS analyst Markus Mittermaier, price target $15"
  • TheStreet.com - "Bumble initiated coverage at positive by Susquehanna analysts, price target $78"