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US Top Rating Updates on 10/12: ABT, DOCU, LYFT, MDT and More

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Analysts Notebook wrote a column · Oct 12, 2022 06:38
US Top Rating Updates on 10/12: ABT, DOCU, LYFT, MDT and More
Gordon Haskett Upgrades Lyft to Buy on 'Overly Negative' Sentiment
Gordon Haskett analyst Robert Mollins upgraded $Lyft Inc(LYFT.US)$ to Buy from Hold with a $24 price target. While the analyst continues to see Lyft as "disadvantaged" relative to $Uber Technologies(UBER.US)$, he believes the combination of Lyft's material share price underperformance year-to-date and relative valuation discount to Uber, "overly negative" investor sentiment and "multiple catalysts" create a favorable risk/reward dynamic.
Cooper Companies Downgraded to Hold From Buy at Jefferies
Jefferies analyst Zachary Weiner downgraded $Cooper Companies(COO.US)$ to Hold from Buy with a price target of $295, down from $400, citing concerns about slower contact lens growth. Cooper, which has a larger percentage of its revenue driven by contacts, will likely be impacted more severely than peers by a slowdown in contacts, the analyst contends.
Raytheon Initiated With Neutral on Estimate Risk at Credit Suisse
Credit Suisse analyst Scott Deuschle initiated coverage of $RTX Corp(RTX.US)$ with a Neutral rating and $85 price target. The analyst sees downside risk to 2023 consensus estimates, saying Raytheon's aerospace businesses could come in light owing to mix headwinds as well as potential delays in inflation passthroughs on long-term contracts.
Source: Seeking Alpha, The Fly
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