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US Top Rating Updates on 11/7: META, COST, SHEL, EL and More

Analysts Notebookwrote a column11/07/2022 19:55
US Top Rating Updates on 11/7: META, COST, SHEL, EL and More
Itau Upgrades Meta Platforms, Says 'Right Price Has Finally Come'
Itau BBA analyst Thiago Kapulskis upgraded $Meta Platforms(META.US)$ to Outperform from Market Perform with a $102 price target. Meta's current share price "reflects an extremely bear case, where it would be crazily spending forever while being disrupted by Apple and/or TikTok," Kapulskis tells investors in a research note.
Costco Downgraded to Equal Weight From Overweight at Wells Fargo
Wells Fargo analyst Edward Kelly downgraded $Costco(COST.US)$ to Equal Weight from Overweight with a price target of $490, down from $600. The analyst sees a "number of hurdles" in the company's path and calls Costco a "rich multiple stock."
Shell Downgraded to Neutral From Buy at Goldman Sachs
Goldman Sachs analyst Michele Della Vigna downgraded $Shell PLC(SHEL.US)$ to Neutral from Buy with a price target of $76, down from $79. The analyst cites valuation for the downgrade following the stock's period of outperformance. Shell's continued improvement in corporate returns and historically high cash flow generation has led to a "relatively expensive valuation" versus peers, Della Vigna tells investors in a research note.
Source: Seeking Alpha, The Fly
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Analysts Notebook
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