Upgrades & Downgrades: K, ABMD, SRCL, TSO, BIG, ONNN, STO, REP, ERJ, STD-PE
By:NewsyStocks   Friday, February 04, 2022 1:50 PM



Wall Street remained volatile amid growing political unrest in Egypt and mixed job data. Dow Jones Industrial Average lost 0.07 percent or 7.91 points to 12,054.35. The Standard and Poor's 500 lost 0.08 percent or 1 point to 1,306.10. NASDAQ Composite index was up 0.16 percent or 4.52 points to 2,758.54.

Amid the fluctuation in the market, several stocks were either upgraded or downgraded by analysts' and rating agencies. Some notable upgraded and downgrades are discussed here.

Upgrades:

Both BMO Capital and Wells Fargo upgraded Kellogg Company (NYSE: K) to Outperform from Market Perform. Shares of the company added 1.98 percent or $1.04 to $53.56 after the news.

Abiomed Inc. (NASDAQ: ABMD) jumped 6.34 percent or $0.78 to $13.09 as the company is upgraded to Buy from Hold with a price target of $15 at Jefferies.

Stericycle Inc. (NASDAQ: SRCL) moved up to Outperform from Market Perform with a price target of $94 at Wedbush. Shares of the company added 5 percent or $3.96 to $83.03.

Shares of Tesoro Corporation (NYSE: TSO) gained 5.81 percent or $1.17 to $21.30 after the company is upgraded to Outperform from Neutral at Credit Suisse.

JP Morgan moves up Big Lots Inc. (NYSE: BIG) to Neutral from Underweight with a price target of $30. Shares of the company were up 4.28 percent or $1.38 to $33.65 during the midday trading.

Downgrades:

ON Semiconductor Corporation (NASDAQ: ONNN) gained 1.84 percent or $0.20 to $11.37 despite the company being reduced to Market Perform from Outperform with a price target of $11.50 at BMO Capital Markets.

Shares of Statoil ASA (NYSE: STO) lost 1.23 percent or $0.31 to $24.98 as the company is downgraded to Underweight from Neutral.

Repsol YPF SA (NYSE: REP) is reduced from Overweight to Neutral at JP Morgan. Shares of the company lost 1.21 percent or $0.39 to $31.92.

Shares of Embraer SA (NYSE: ERJ) slipped 2.86 percent or $0.97 to $32.99 as the company is downgraded to Sell from Hold at Citigroup. Banco Santander SA (NYSE: STD-PE) is downgraded to Hold from Buy at Deutsche Bank. However, shares of the company added 0.57 percent or $0.16 to $28.03.


 

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