5 Huge Analyst Calls: Netflix Grabs Another Buy Call; Dick's Slashed at BofA
Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Netflix, Fulcrum Therapeutics, and Grab Holdings, and downgrades for Medical Properties Trust and Dick's Sporting Goods.
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What happened? On Monday, JPMorgan downgraded Medical Properties Trust (NYSE:MPW) to Underweight with a $7 price target.
What’s the full story? There are a couple of factors driving JPMorgan’s Underweight decision.
First, MPW’s significant Prospect and Steward exposures and the complexities surrounding these relationships are being seen as “glass half-full” by the market, and the analysts are not sure there is a near-term catalyst that will change this mindset.
Second, from a fundamental standpoint, the analysts think of MPW’s stock as “working” when it has an external growth engine that can drive funds from operations, a key metric for real estate investment trusts (REITs). Given the state of the transaction markets and its high capital costs, this looks shut down to them today.
Underweight at JPMorgan means: “Over the next six to twelve months, we expect this stock will underperform the average total return of the stocks in the analyst’s (or the analyst’s team’s) coverage universe.”
How did the stock react? Shares were volatile and took some hard afternoon losses before rebounding and ending the day up around 1.2% to close at $7.01.
What happened? On Tuesday, Stifel upgraded Fulcrum Therapeutics (NASDAQ:FULC) to Buy with a $11 price target.
What’s the full story? Stifel upgraded FULC shares to Buy with the clinical hold on FTX-6058 (sickle cell disease treatment) resolved. This was a key value driver
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