Each week, 24/7 Wall St. reports on the top analysts’ research calls from the major brokerage firms and banks that we cover, both inside and outside the United States. We provide details on many of the hundreds of various stock upgrades and downgrades, in addition to resumptions and initiations of coverage.
Research analysts typically provide an in-depth look into everything from a company’s business silo and products to balance sheet and financials, while raising, lowering or maintaining their specific price targets. This week we found five top stocks that Wall Street analysts are absolutely pounding the table on, and all make sense for equity investors looking for fresh ideas for their stock portfolios.
It is important to remember that many times analysts are providing coverage on companies that their firms’ investment banking teams have provided services for. While usually very fair, it is part of the equation. It is also important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are five stocks that Wall Street loves this week.
Adobe Inc. (NASDAQ: ADBE): Exane BNP Paribas started coverage of the technology giant with an Outperform rating and a $570 target price. Goldman Sachs reiterated its Buy rating and has a $605 target price. The consensus target is $568.12. The 52-week trading range is $407.94 to $699.75. The shares traded at $454.00 on Friday.
Block Inc. (NYSE: SQ): Daiwa Securities started coverage on the former Square with a Buy rating and a $160 target price. Goldman Sachs began coverage with a Buy rating and $173 price objective. The consensus target is $182.76. The shares were seen on Friday changing hands at $133.40.
Chewy Inc. (NASDAQ: CHWY): Baird reiterated an Outperform rating with a $65 target price. Jefferies reiterated its Buy rating and has a $90 target price. The consensus target is $71.25. Over the past year, the shares have traded between $35.59 and $97.74. The stock on Friday traded at $41.30.
Duolingo Inc. (NASDAQ: DUOL): KeyBanc Capital Markets upgraded the foreign language learning app provider from Sector Weight to Overweight with a $112 price target. The consensus target is $120.67. The shares have traded in a wide $64.81 to $204.99 range over the past year. The stock traded on Friday at $93.95.
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Walmart Inc. (NYSE: WMT): Goldman Sachs maintained a Buy rating on the retail giant and has a $180 price target. It cited the company’s solid position in a rising food inflation environment. The consensus target is $165.06. The 52-week trading range is $132.01 to $152.57. On Friday, the stock traded at $149.90.
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