This week saw some big upgrades, including PayPal’s new purchase ratings on Trust. Here are all of last week’s most significant analyst valuation changes, first spotted by InvestingPro. Sign up for comprehensive, fast coverage of the analyst movements that move the markets.
on tuesday, Truist upgraded PayPal (NASDAQ:) to buy Increased target price from $75.00 to $95.00.
In a memo, the company cites growing confidence that consensus forecasts are “now reasonable,” with analysts saying We believe our approximately $6 billion of net cash will provide us with flexible options for managing M&A and/or share repurchases.Analyst forecasts above-consensus EPS of $5.00 in 2023 ($4.79 vs. Street) and $6.10 in 2024 ($5.53 vs. Street). No comment on how that will change under new inflation dynamics.
The stock closed at $74.57 on Tuesday, up 4.7% from the previous week’s close of $71.24.
On Wednesday, Needham strengthened its bullish confidence in Etsy (NASDAQ:), upgrading the name from hold to buy. The target price is $160.
The company emphasized that consensus expectations have normalized a bit.office In addition to EV/EBITDA, we believe positive earnings revisions and improved EV/sales valuation multiples should drive equity capital gains.
Etsy traded at a low of $112.25 at noon on Tuesday, up slightly on the upgrade, and after closing at $117.13 on Wednesday, it rose further in Friday trading to end the week at $120.70.
on thursday Argus Research upgrades Delta Air Lines (NYSE:) to buy-from-hold At a price of $39.00 at 0700 ET.
Scalp traders especially enjoy the Argus upgrade. Because the Argus upgrade is pre-market (restricted access to retail traders, very large number of active professional traders), volatility can spike, Tier 1, 2 and 3 Because it provides rapid movement as headlines roll out of newswires.
And this was a particularly attractive play for a given scalper Passenger aviation popularity in the U.S. following delays to Southwestern flights during the 2022 Christmas blizzard, coupled with Delta’s imminent announcement of free Wi-Fi for passengers.
“Demand for leisure travel is expected to remain strong in 2023, with business travel surpassing 2019 levels,” writes Argus.
Delta shares closed Wednesday at $34.39. By Thursday’s close, the stock was trading at his $35.23, up 2.5%.
on friday, Stifel upgrades MGM Resorts (NYSE:) to By From Hold. He raised his price target from $42.00 to $46.00 and indicated that he wanted to invest in Macau, the Las Vegas Strip and Cruise Gambling.
Analysts at Stifel and his team “have great faith in the resumption of trade between Macau and China,” believe Las Vegas will benefit from a “strong event calendar,” and cruise lines see “strong stagnant demand.” We hope to benefit from it.” They added that it offsets concerns about dedicated regional gambling operators.
Wall Street likes to call playing in casinos “gaming” in its research, but some people prefer to call it “gambling.”
Stifel’s upgrade went viral among professional trader message rooms, with the stock closing 5.83% higher at $37.20 on Friday.
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