Midday Stock Movers: Kroger, Target, WD-40
2022.04.08 19:06
By Sam Boughedda
Investing.com — After initially moving lower, U.S. stocks are now mixed with the Dow and S&P 500 gaining and the Nasdaq moving lower. Here are the midday movers on Friday, April 8th.
Kroger Company (NYSE:KR) is up over 3% after BofA upgraded the company’s shares from Neutral to Buy, raising the price target to $75 from $61 based on elevated levels of grocery inflation potentially driving EPS upside.
Biofrontera Inc (NASDAQ:BFRI) reported fourth-quarter and full-year earnings. Earnings per share and revenue missed analyst expectations, but the company said 2022 revenue will be 30% higher than 2021. Biofrontera is trading 17.8% higher midday.
Robinhood Markets (NASDAQ:HOOD) is down 7.7% after a downgrade to Sell from Neutral by Goldman Sachs. GS said it sees a “limited path to near-term profitability” for the company, likely limiting the stock’s performance.
Target Corporation (NYSE:TGT) has gained 3% after Gordon Haskett upgraded the stock based on “remarkably consistent” traffic trends. The analyst increased Target’s price target to $300 from $255.
HP Inc (NYSE:HPQ) was downgraded by UBS to Neutral from Buy following news on Thursday of Berkshire Hathaway’s (NYSE:BRKa) stake. UBS said HP shares are “likely to tread water” as the risk/reward is now balanced.
WD-40 Company (NASDAQ:WDFC) has surged 11% after the company reported earnings Thursday evening that beat earnings and revenue estimates.
