May 20 stock upgrades and downgrades you should know about

Share:
May 20 upgrades and downgrades you should know about — PANW, WIX, AMAT, ROST

Happy Friday! 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.

Applied Materials Target Price Cuts (AMAT)

AMAT shares are trading down about 2% after the company reported its quarterly results last night that missed earnings estimates. The analysts that cover the stock are beginning to weigh in.

· Piper Sandler maintained its Neutral rating on AMAT but lowered its target price. The firm’s new target price of 132, down from 153, implies upside potential of 21.8% based on this morning’s price of 108.35.

· Needham maintained its Buy rating while it cut its target price for AMAT from 172 to 130. Needham’s new target price implies 20.0% upside potential for the stock’s current levels.

· Mizuho also kept its Buy rating on Applied Materials while lowering its target price. The firm took its target from 180 to 160, which implies upside potential of 47.7%.

· Barclays maintained its Equal-Weight rating and lowered its target price from 150 to 125, which implies upside potential of 15.4%.

Palo Alto Networks Target Price Revisions (PANW)

Shares of Palo Alto Networks are surging over 11% in pre-market trading after the company beat on both the top and bottom-line last night. Analysts are beginning to update their guidance for the stock.

· Keybanc maintained its Overweight rating on PANW while it raised its target price for the stock from 610 to 630. This new target price implies 29.8% upside potential for PANW based on the pre-market price of 485.50.

· BMO Capital maintained its Outperform rating for PANW while the firm lowered its target price from 685 to 615. This new target price implies upside potential of 26.7%.

· Deutsche Bank kept its Buy rating on Palo Alto shares and increased its target price. The firm’s new target price of 605, up from 587, implies upside potential of 24.6%.

· Citigroup maintained its Buy rating on PANW and ticked up its target price estimate from 600 to 610, which implies upside potential of 25.6%.

Ross Stores Downgrade and Target Price Cuts (ROST)

ROST is plunging by over 26% this morning after the company reported results that disappointed traders on the earnings, revenue, and same-store sales front. Analysts are reacting and cutting their target prices for the stock.

· Telsey Advisory Group downgraded ROST today, taking its rating from Outperform to Market Perform. The firm also cut its target price almost in half, bringing it to 80 from 145. This new target price implies 16.8% upside potential based on the stock’s 68.47 pre-market price.

· Citigroup maintained its Buy rating on Ross Stores while it lowered its target price from 125 to 100. This new target price implies upside potential of 46.0% based on the pre-market price of 68.47.

· Wells Fargo kept its Equal-Weight rating on ROST while the firm lowered its target price from 90 to 80, which implies upside potential of 16.8%.

· Loop Capital also lowered its target price for ROST to 80, bringing it down from 95. Loop kept its Hold rating on the stock.

· Credit Suisse maintained its Outperform rating on ROST while it brought down its target price from 125 to 100. This new target price implies upside potential of 46.0% for the stock.

Wix.com Downgrade and Target Price Cut (WIX)

After WIX reported its earnings earlier this week, many analysts lowered their target prices for the stock. This morning, one analyst is downgrading its rating for WIX.

· Morgan Stanley, which lowered its target price for WIX on May 17 from 135 to 85, today lowered its rating from Overweight to Equal-Weight. The firm’s target price of 85 implies upside potential of 25.0% based on the pre-market price of 68.00.

🎯 Interested in analyst target prices?

· Be sure to sign up for my free weekly email newsletter, The Target Price Report, which highlights the stocks with the biggest Wall Street target price increases and decreases over the past week.

· A new report come out every Sunday to help you get ready for the next trading week and to see which stocks analysts are getting more bullish and bearish on. Sign up here for free!

Just a reminder: this article is not investment advice. Before taking any action do your own due diligence or consult a financial professional!