Check out today's top analyst calls from around Wall Street, compiled by The Fly.
BUY SHOPIFY: Loop Capital analyst Anthony Chukumba upgraded Shopify (SHOP) to Buy from Hold with an unchanged $1,400 price target. The company offers a "compelling" merchant value proposition and its ecosystem continues to grow, the analyst told investors in a research note. Chukumba added that Shopify should continue to generate additional heady top-line growth and margin expansion as the company benefits from the continued secular shift to e-commerce.
SPORTSWEAR 'ON FIRE': Jefferies analyst Randal Konik upgraded Nike (NKE) to Buy from Hold with a price target of $192, up from $140. Increased interest in health and wellness, higher adoption of casualwear fashion and the return of sports and outdoor activities has the sportswear market "on fire" and he sees no signs of it slow, said Konik, who has become increasingly confident in Nike's medium-term growth and profitability trajectory. The analyst believes China will remain the fastest growing region for Nike in the years ahead and notes that it is also the highest margin region for Nike.
MASS ADOPTION OF DIGITAL ASSETS: Oppenheimer analyst Owen Lau initiated coverage of Coinbase (COIN) with an Outperform rating and $434 price target. He views Coinbase as an enabler of crypto innovation that "solves some pain points in the existing financial system," and one that appears well positioned to benefit from the mass adoption of digital assets. Further, the analyst sees the company having a "strong business model," citing its deep liquidity pool and strong network effect, trust from customers, a strong brand as a secure platform, and being a platform for innovation.
STOCK SHOULD OUTPERFORM: BMO Capital analyst Gerrick Johnson upgraded Activision Blizzard (ATVI) to Outperform from Market Perform with a price target of $116, up from $104. The stock has been "stagnant" so far in 2021 but should outperform as the sellers have now "taken their profits" and as the COVID winners bearish positioning gets shaken out, the analyst told investors in a research note. Johnson maintains his positive view on Activision's long-term strategy, stating he has "more confirmation" that the company is on the right path after recent strong performances of Call of Duty and World of Warcraft titles.
'VALUE-ENHANCING' DEAL: Citi analyst George Choi upgraded Wynn Resorts (WYNN) to Neutral from Sell with a price target of $126, up from $112. The analyst views the Wynn Interactive's merger with Austerlitz Acquisition as "value-enhancing." With its increasing dedication to the Premium Mass segment, which offers some of the highest quality non-gaming amenities in Macau, Wynn Resorts will improve its earnings quality, Choi contended.
Shopify
-8.65 (-0.80%)
Nike
+0.41 (+0.30%)
Coinbase
-4.8 (-1.64%)
acquired by MSFT
+0.81 (+0.87%)
Wynn Resorts
+2.25 (+1.79%)