Today's Upgrades of Note

  • Investing.com
  • Stock Market News
Today's Upgrades of Note
Credit: © Reuters.

By Davit Kirakosyan

Hyatt Hotels (NYSE: H ) shares gained more than 3% Tuesday after Evercore ISI upgraded the company to Outperform from In Line with a price target of $100. According to the analysts, the company’s transition to an asset-light, fee-based revenue model (80% goal by 2024) and greater leverage of selling, general, and administrative (SG&A) spend should sharply increase its free cash flow generation over time.

Evercore upgraded Prologis (NYSE: PLD ) to Outperform from Underperform with a price target of $127. While noting that the industrial sector is not immune to a recession given the cyclical nature of the business, the analysts believe the company will continue to generate very strong growth, estimating average net operating income growth of 7.5% over the next three years - well above the REIT average. Still, Prologis shares were off 1.8%.

KeyBanc upgraded Cogent Communications (NASDAQ: CCOI ) to Overweight from Sector Weight with a price target of $64. Shares closed the session up 4.7%. The basis for the upgrade was (1) the company's ability to repurpose legacy assets (T-Mobile (NASDAQ: TMUS ) wireline), (2) the company returning to a mid-single-digit revenue growth rate in the next three years, and (3) the company continuing to pursue capital returns in dividends.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search