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Today's Most Important Upgrades

Stock Markets Oct 18, 2022 16:00
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JNPR
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TGT
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XYL
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By Davit Kirakosyan

Jefferies upgraded shares of Target (NYSE:TGT) to Buy from Hold and raised its price target to $185 from $170. The key reasons for the upgrade were (1) attractive valuation, (2) supply chain improvements, and (3) inventory positioning. Shares gained more than 4% intra-day.

Raymond James upgraded Enviva Partners LP (NYSE:EVA) to Strong Buy from Outperform with a price target of $80. Shares rose more than 6% intra-day. According to the analysts, the market misunderstands the ESG attributes of the business. The company’s shares were under pressure recently following the short-seller report alleging the company fails to meet its sustainability promises and that it exhibits “troubling cash flows, dangerous leverage and unsustainable dividend.”

Owens Corning (NYSE:OC) shares rose 4% intra-day today after BofA Securities upgraded the company to Buy from Underperform and raised its price target to $95.00 from $82.00.

Piper Sandler upgraded Juniper Networks (NYSE:JNPR) to Neutral from Underweight and raised its price target to $29.00 from $27.00 following the reset in shares and its product backlog analysis. The analysts expect management can continue to raise product revenue numbers in fiscal 2023 from mid-single digits to approximately 10% year-over-year.

Cowen upgraded Xylem (NYSE:XYL) to Outperform from Market Perform and raised its price target to $105.00 from $85.00. Shares were up more than 3% intra-day today.

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