© Reuters Today’s Most Important Upgrades
By Davit Kirakosyan
Sea Ltd (NYSE:) shares gained more than 10% intra-day today after JPMorgan upgraded the company to Overweight from Neutral and lowered its price target to $70.00 from $85.00, anticipating a swift improvement in profitability. According to the analysts, the company’s urgency to achieve self-sufficiency and be cash flow positive supports positive earnings revisions, while the stock is pricing-in concerns regarding its ability to monetize and reduce losses.
Itau BBA upgraded Meta Platforms Inc (NASDAQ:) to Outperform from Market Perform, noting that stock sell-off generates opportunity. The company’s shares were trading more than 6% higher intra-day today after analysts weighed in positively on the company’s plans to cut its operating expenses. The Wall Street Journal reported yesterday that the company is planning to begin large-scale layoffs this week, citing people familiar with the matter.
Oppenheimer upgraded DoorDash Inc (NYSE:) to Outperform from Perform with a price target of $70.00 following the company’s reported on Thursday. According to the analysts, increased disclosure shows improving U.S. restaurant margins, and they’re now able to size international and U.S. non-restaurant losses.
Atlantic Equities upgraded S&P Global Inc (NYSE:) to Overweight from Neutral and raised its price target to $386.00 from $356.00 due to the company’s improved valuation, diversified and high-quality business, self-help opportunities, and supportive capital return program.
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