Here is your Pro Recap of the biggest analyst picks you may have missed since Friday: upgrades at Moderna, Wayfair, Sherwin-Williams, and Sotera Health.
Moderna gains on UBS upgrade
Moderna (NASDAQ: MRNA ) shares surged nearly 3% pre-market today after UBS upgraded the company to Buy from Neutral with a price target of $191.00 (from $221.00), as reported in real time on InvestingPro.
The company completed its submission to the U.S. FDA on Thursday, seeking authorization for its updated COVID-19 vaccine targeting the XBB.1.5 subvariant. This comes after the FDA's recent advice to vaccine manufacturers, urging them to develop monovalent shots specifically for XBB.1.5. Pending authorization, Moderna expects the updated vaccine to be ready for fall vaccinations.
Wayfair upgraded on benefits from Bed Bath & Beyond bankruptcy
MoffettNathanson upgraded Wayfair (NYSE: W ) to Market Perform from Underperform and raised its price target to $44.00 from $33.00.
After analyzing recent web traffic data, which indicates Wayfair is experiencing a material benefit from the recent bankruptcy of Bed Bath & Beyond, the firm decided to move to the sidelines.
“Improving demand from BBBY’s bankruptcy, our above consensus view of operating profitability, and a recent debt maturity extension is a tough narrative to fight as an Underperform,” added MoffettNathanson.
2 more upgrades
BMO Capital upgraded Sherwin-Williams (NYSE: SHW ) to Outperform from Market Perform and raised its price target to $275.00 from $269.00. Shares rose around 1% pre-market today.
BMO anticipates a reasonable upside to its above-consensus estimates due to the expected decline in raw material costs in the near term. Additionally, the housing markets have displayed promising signs that suggest it might not be as bad as previously anticipated.
KeyBanc upgraded Sotera Health (NASDAQ: SHC ) to Overweight from Sector Weight with a price target of $24.00. Shares rose more than 1% pre-market today.
Get ready to supercharge your investment strategy with our exclusive discounts.
Don't miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won't last forever!
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.