By Davit Kirakosyan
Etsy (NASDAQ:ETSY) shares rose more than 4% intra-day today after Needham & Company upgraded the company to Buy from Hold with a price target of $160.00, noting that the company exited the pandemic stronger, but its valuation is at a discount to pre-pandemic averages. Now that pandemic demand has been mostly lapped and sell-side estimates are in a good place, the analysts believe positive earnings revisions and multiple expansions should drive share upside from here.
TransUnion (NYSE:TRU) shares were trading more than 5% higher intra-day today after Morgan Stanley upgraded the company to Overweight from Equalweight and cut its price target to $78.00 from $80.00, noting it believes that even in a worsening consumer environment, the stock presents an attractive valuation. While the analysts believe 2023 should be a challenging year for the company given a potential consumer slowdown, they think that the company will be able to grow revenue HSD in a normal environment.
BofA Securities upgraded Merck & Company Inc (NYSE:MRK) to Buy from Neutral and raised its price target to $130.00 from $110 based on the continuation of strong growth trends seen last year (2023-25 revenue CAGR 6% vs. 1% Biopharma peers) and substantial progress diversifying the Keytruda LOE/concentration risk.
Raymond James upgraded Maxeon Solar Technologies Ltd (NASDAQ:MAXN) to Outperform from Market Perform with a price target of $22.00. Shares surged more than 15% intra-day today.
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