RBC Capital Markets on Tuesday started coverage of pharmaceutical company AstraZeneca (AZN.ST, AZN.L) with an outperform rating and a price target of 145 pounds sterling.
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Update: Morgan Stanley Downgrades Peloton Interactive to Underweight From Equalweight on Slumping Gross Adds, Trims Price Target to $4.50 From $5
(Update include analyst commentary.)Morgan Stanley downgraded Peloton Interactive (PTON) to underweight from equalweight, saying 'structural headwinds weigh on gross adds' resulting in a declining subscriber growth.According to a note Tuesday, "growing interest in strength training and rising gym adoption are pressuring gross adds for PTON with its current product suite".Analysts at the firm highlighted that Peloton's $50/month subscription fee is the company's main earnings source and with a declining subscriber base, profitability will take a hit.The brokerage also decreased Peloton's price target to $4.50 from $5 on lower estimates.Peloton Interactive has an average rating of overweight and mean price target of $7.90, according to analysts polled by FactSet.Price: $5.14, Change: $-0.26, Percent Change: -4.81%
$PTON
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UBS Upgrades EchoStar to Buy From Neutral, Adjusts Price Target to $150 From $127
EchoStar (ECHO) has an average rating of overweight and mean price target of $130.50, according to analysts polled by FactSet.Price: $91.26, Change: $+1.46, Percent Change: +1.62%
$ECHO
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Morgan Stanley Upgrades M&T Bank to Overweight From Equalweight, Adjusts PT to $304 From $253
M&T Bank (MTB) has an average rating of hold and mean price target of $260.25, according to analysts polled by FactSet.
$MTB