With a resurgent virus in the background, the stock market continues to remain volatile. TipRanks brings you the latest analyst action on some of your favorite stocks to sail smoothly through the market volatility. Let’s look into the noteworthy bullish and bearish calls of the day and see what the top Wall Street analysts are recommending.

Upgrades

1. Bankwell Financial Group

Keefe Bruyette analyst Christopher O’Connell upgraded Bankwell Financial (BWFG) to Buy from Hold and increased the price target to $35 from $32 citing the company’s “strong” 1Q results and improved income expectations. Furthermore, O’Connell anticipates Bankwell Financial to record continued above-peer loan growth, its net interest margin to expand in 2022, and the successful execution of the company’s ongoing efficiency plan.

According to TipRanks’ Smart Score system, Bankwell Financial gets a 6 out of 10, which indicates that the stock is likely to perform in line with market averages.

2. Fox Corporation

Rosenblatt Securities analyst Mark Zgutowicz upgraded Fox Corporation (FOXA) to Hold from Sell and increased the price target to $35 from $25. According to Zgutowicz, Fox News and Sports have video-on-demand “optionality” in the near term, with Tubi providing a “cost effective funnel” to both. Furthermore, the analyst believes that the dropping of Thursday Night Football in fiscal 2023 will free up significant digital investment costs, while renewed Sunday afternoon coverage is likely to “hook subs”.

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Fox Corporation, with 2.7% of investors increasing their exposure to FOXA stock over the past seven days.

3. Ceragon Networks

Needham analyst Alex Henderson upgraded Ceragon Networks (CRNT) to Buy from Hold and maintained a price target of $4.50. According to Henderson, the company’s first-quarter results were a “solid beat” with the strongest orders over the two years. Furthermore, the analyst said that the company witnessed robust orders in India, despite the COVID surge, while orders in North America reflected the strongest level in the company’s history. Additionally, the analyst believes that orders are “more important than the near-term supply constraints,” and are likely to improve in the coming period.

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Ceragon Networks is currently Positive, as 2 hedge funds increased their cumulative holdings of the stock by 311,600 shares in the last quarter.

4. Cleveland-Cliffs Inc

Credit Suisse analyst Curt Woodworth upgraded Cleveland-Cliffs (CLF) to Buy from Hold and increased the price target to $24 from $21. In a note to investors, Woodworth said that Cleveland-Cliffs has created a powerhouse steel entity by joining together three best-in-class mining/steel companies, in a short period. Therefore, the analyst views the company to be well balanced and has a diversified steel product portfolio across the entire flat-rolled market including tin and plate. Furthermore, he noted that the company’s high level of contract exposure indicates further stability in earnings through the cycle.

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Cleveland-Cliffs, with 14.3% of investors increasing their exposure to CLF stock over the past 30 days.

5. Berkshire Hills Bancorp

Piper Sandler analyst Mark Fitzgibbon upgraded Berkshire Hills Bancorp (BHLB) to Buy from Hold and increased the price target to $27 from $25 after conducting meetings with management. Fitzgibbon is “impressed that management seemed to have quickly gotten a handle on the company’s strengths and weaknesses.”

TipRanks data shows that financial blogger opinions are 100% Bullish on BHLB, compared to a sector average of 70%.

Downgrades

1. Thomson Reuters Corp

CIBC analyst Robert Bek downgraded Thomson Reuters (TRI) to Hold from Buy but increased the price target to $102 from $95. Bek is “encouraged” by the company’s 1Q results and expects investors to support its ongoing change program. In a note to investors, the analyst said that though Thomson Reuters’ elevated margins and organic revenue growth has “rightfully led the stock to multiple expansion,” he foresees limited upside from current valuation levels.

According to TipRanks’ Smart Score system, Thomson Reuters gets a 7 out of 10, which indicates that the stock is likely to perform in line with market averages.

2. NOV Inc.

Coker Palmer analyst Vaibhav Vaishnav downgraded NOV (NOV) to Sell from Hold and maintained a price target of $12 considering the shares as the “most expensive” compared to its peers under his coverage.

NOV gets a 1 out of 10 on TipRanks’ Smart Score ranking suggesting that it is likely to underperform market expectations.

3. Euroseas Ltd

Noble Financial analyst Poe Fratt downgraded Euroseas (ESEA) to Hold from Buy due to recent strong stock price performance. “While the container market outlook is favorable and new charters have been positive,” Fratt believes “the risk/reward profile is balanced after a 230% gain this year.” Furthermore, “despite strong YTD stock price performance of more than 230%, including a 24% gain yesterday, we believe that the risk/reward profile is balanced,” the analyst added.

Despite the downgrade, TipRanks data shows that financial blogger opinions are 100% Bullish on ESEA, compared to a sector average of 65%.

4. Brookfield Renewable Partners

R.F. Lafferty analyst Jaime Perez downgraded Brookfield Renewable Partners (BEP) to Hold from Buy and decreased the price target to $35 from $49 following the company’s reported 1Q loss per common unit of $0.24, which missed analysts’ expectations. Perez said, “The drivers behind our downgrade and lower price target are moderating hydro output in the near term and moderating demand growth in the broad market.”

The stock has a Hold consensus rating based on 2 Buys and 8 Holds. The average analyst price target of $44.31 implies 18.3% upside potential from current levels.

5. Crown Castle

Raymond James analyst Ric Prentiss downgraded Crown Castle (CCI) to Hold from Buy “as near-term U.S. macro tower gross leasing trends improve but Small Cell growth seems delayed and the stock seems fairly valued on an FAD/Share basis, especially with T-Mobile/Sprint churn on the horizon.” Prentiss added,“We still think tower leasing will ramp as T-Mobile/Sprint integration efforts accelerate, DISH greenfield 5G network build begins in earnest, and C-Band spectrum deployments get underway at Verizon and then AT&T. But some of this gross organic growth will be offset by elevated Sprint churn in 2023.”

Despite the downgrade, TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Crown Castle is currently Very Positive, as 11 hedge funds increased their cumulative holdings of the stock by 417,900 shares in the last quarter.

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