May 18 stock upgrades and downgrades you should know about

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May 18 stock upgrades and downgrades — MNST, WRBY, WMT, DOCS, SPLK, TSLA

Happy Wednesday! Each morning, I highlight stocks with analyst upgrades, downgrades, and target price revisions you should know about. Be sure to follow me to stay up on all the important analyst actions!

For each analyst action, I also include the analyst’s target price and calculate the upside or downside potential, which is simply the percentage gain or loss between the stock’s current price to the analyst’s target price.

Warby Parker Downgrade (WRBY)

Warby Parker issued their quarterly earnings report earlier this week and analysts have been revising their outlooks for the stock.

· This morning, Goldman Sachs downgraded WRBY, taking its rating from Buy to Neutral. The firm also slashed its target price from 34 to 18. This new target price implies upside potential of 4.7% based on the pre-market price of 17.19.

Several analysts lowered their target prices for WRBY yesterday, including:

· Baird maintained its Outperform rating but lowered its target price from 40 to 30, implying upside potential of 74.5%.

· Morgan Stanley maintained its Equal-Weight rating while it lowered its target price from 24 to 17. This new target price implies WRBY is overvalued by 1.1%.

· Citigroup maintained its Buy rating but lowered its target from 41 to 29, which implies upside potential of 68.7%.

· Telsey Advisory Group maintained its Outperform rating but halved its target price, bringing it down from 60 to 30. The firm’s new target price implies upside potential for WRBY of 74.5%.

Walmart Target Price Cuts (WMT)

After reporting earnings yesterday, shares of WMT fell over 11.3% yesterday. This morning the stock is down another 1.1% and updated analyst opinions are starting to flow in.

· Citigroup maintained its Buy rating on WMT but lowered its target price from 171 to 166. This new target price implies upside potential of 27.8% based on the stock’s pre-market price of 129.91.

· Telsey Advisory Group maintained its Outperform rating but cuts its target price for WMT. The firm’s new target price of 160, down from 175, implies upside potential of 23.2%.

· RBC Capital also maintained its Outperform rating and cut its target for WMT, bringing it down to 153 from 160. This new target price implies 17.7% upside potential.

· Raymond James kept its Outperform rating and lowered its price target from 165 to 150, implying 15.5% upside potential for WMT.

Doximity Target Price Cuts (DOCS)

Shares of Doximity are tanking by over 14% in pre-market trading after the company reported disappointing earnings and forecasts last night. Here’s what analysts are doing this morning.

· Needham maintained its Buy rating on DOCS but slashed its target price, bringing it from 70 to 45. This new target price implies 55.1% based on the pre-market price of 29.02.

· SVB Leerink maintained its Outperform rating while lowering its DOCS target price from 72 to 67, which implies 130.9% upside potential for the shares.

Monster Beverage Upgrade (MNST)

Monster Beverage is trading higher by 1.4% this morning as the stock received an analyst upgrade.

· Bernstein upgraded MNST, taking its rating from Market Perform to Outperform. The firm’s target price of 110 implies upside potential of 21.5% based on the pre-market price of 90.50.

Tesla Target Price Cut (TSLA)

After rising over 5.1% yesterday, shares of Tesla are down by 0.8% this morning as the stock got an analyst target price cut.

· Piper Sandler maintained its Overweight rating on TSLA, but lowered its target price, taking it from 1260 to 1035. This new target price implies 37.0% upside potential for the stock based on the pre-market price of 755.22.

Splunk Target Price Cut (SPLK)

Ahead of its earnings report on May 25, Splunk received an analyst downgrade this morning.

· Mizuho maintained its Neutral rating on SPLK, but lowered its target price, taking it from 130 to 110. This new target price implies SPLK has 12.6% upside potential based on the pre-market price of 97.70.

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