This Coinbase Global Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have upgraded their ratings for several companies, including Coinbase Global, Snap Inc., Krispy Kreme, Equinix, and Vertical Aerospace. These upgrades have led to varying stock price movements for each company.
July 23, 2024 | 1:07 pm
News sentiment analysis
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NEUTRAL IMPACT
HSBC upgraded Krispy Kreme from Hold to Buy with a price target of $14. Despite the upgrade, Krispy Kreme shares fell 4.3% to close at $10.71.
Despite the upgrade, the decline in Krispy Kreme's share price suggests market skepticism or other negative factors at play, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Citigroup upgraded Coinbase Global from Neutral to Buy, raising the price target from $260 to $345. Coinbase shares gained 2.9% to settle at $265.15.
The upgrade from Citigroup and the significant increase in the price target suggest strong confidence in Coinbase's future performance, likely driving short-term price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo upgraded Equinix from Equal-Weight to Overweight, raising the price target from $825 to $875. Equinix shares gained 1.5% to close at $798.86.
The upgrade and increased price target from Wells Fargo indicate positive expectations for Equinix, likely driving short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Deutsche Bank upgraded Vertical Aerospace from Hold to Buy, boosting the price target from $1 to $1.5. Vertical Aerospace shares rose 5.4% to close at $0.8899.
The upgrade and increased price target from Deutsche Bank suggest improved outlook for Vertical Aerospace, likely leading to short-term price gains.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 100
POSITIVE IMPACT
Morgan Stanley upgraded Snap Inc. from Underweight to Equal-Weight, increasing the price target from $12 to $16. Snap shares rose 2.6% to close at $14.78.
The upgrade from Morgan Stanley and the increased price target indicate improved sentiment towards Snap, likely leading to short-term price gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100