Morning Analyst Calls Highlight Warby Parker Upgrade, Peloton Downgrade
In Friday’s trading buzz, analysts spotlighted a glasses retailer and a pet product e-commerce company. JMP Securities upgraded Warby Parker to "market outperform," forecasting a potential upside of over 40%. Downbeat news hit Peloton, as JPMorgan downgraded its rating to "neutral" after Thursday’s significant rally.
5:43 a.m. ET: JPMorgan Downgrades Peloton to Neutral
Following a 35% surge on Thursday due to robust quarterly results, Peloton saw its rating cut from "overweight" to "neutral" by JPMorgan. Analyst Doug Anmuth revised the price target from $7 to $5, highlighting ongoing challenges in returning to growth amidst complex market conditions. While optimistic about Peloton’s debt refinancing and cost management, Anmuth suggested that new leadership might be essential for future progress. Despite these adjustments, Peloton has dropped 25% year-to-date.
5:43 a.m. ET: JMP Securities Upgrades Warby Parker
JMP Securities encouraged investors to "buy the dip" on Warby Parker, upgrading the retailer from "market perform" to "market outperform." Analyst Nicholas Jones set a price target of $20, indicating a 44% potential upside. Jones noted that consensus estimates for 2025 and 2026 may be underestimating Warby Parker’s market dynamics and operational leverage. Though the path ahead might be volatile, Jones expects more positive commentary from management in the upcoming quarters. Warby Parker’s stock has underperformed this year, down 1.7% compared to the S&P 500’s 16.8% gain.
Stay tuned for the latest analyst calls and market chatter, updated every 20-30 minutes.
Original Story https://www.cnbc.com/2024/08/23/analyst-calls-all-the-market-moving-wall-street-chatter-from-friday.html
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