Catch up on today’s top five analyst upgrades with this list compiled by The Fly:
1. Netflix (NFLX) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying while he still expects a three-to-nine month period of working through the remaining COVID comp issues, Devitt argues that shares should be accumulated on the share price weakness created by COVID comps given that he thinks Netflix “remains a compelling long-term growth story.”
2. Citrix (CTXS) upgraded to Buy from Hold at Jefferies with analyst Brent Thill saying he believes work-from-anywhere is “here to stay which is a powerful shift” for the company to capitalize on; the Street’s 4% 2021 revenue growth estimate is too low as he sees high single-digit growth potential and the shares, trading toward the bottom-end of its free cash flow valuation range, offer room for multiple expansion.
3. Morgan Stanley (MS) upgraded to Buy from Hold at Berenberg with analyst Eoin Mullany believing Morgan Stanley is “becoming increasingly attractive.”
4. PepsiCo (PEP) upgraded to Buy from Neutral at UBS with analyst Sean King saying he is positive on the company’s diversification and execution fueling “consistent growth”, with the management also investing to emerge from the downturn “stronger.”
5. UnitedHealth (UNH) upgraded to Buy from Hold at Argus with analyst David Toung saying the company has “solid” growth drivers in its managed care and Optum businesses, highlighted by the robust membership growth in the former and a solid backlog in the latter segment during the past quarter.
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