Monday’s Top 3 Upgrades: Caribou Biosciences (CRBU), Dollar Tree (DLTR), Plains All American (PAA)
Following stocks are moving in the pre-market session after key updates from analysts.
Citi upgraded Caribou Biosciences (NASDAQ:CRBU) to Buy from Neutral with a $27 price target. The firm sees an improved risk/reward profile at current levels. Nochomovitz further believes that Caribou’s chRDNA editing platform possesses several advantages that should limit read-through from the single instance of a chromosomal abnormality seen with ALLO-501A in early October that caused a sell-off in the allogeneic cell therapy names, including Caribou. The firm notes that the next catalyst for Caribou is initial Phase 1 data for CB-010 in R/R B-NHL next year.
Deutsche Bank upgraded Dollar Tree (NASDAQ:DLTR) to Buy from Hold with a price target of $148, up from $96. The firm sees an improved risk/reward on the shares through potential operational and profitability improvements at Family Dollar given a greater sense of urgency with Mantle Ridge’s influence. A firm notes a new large shareholder with a focus on unlocking value by closing the profitability gap between Dollar Tree’s Family Dollar and Dollar General (DG) should lead to a more patient investor base with a longer-term focus, and frankly translate to one of the most compelling retail stories with an exciting narrative change underway.
Evercore ISI upgraded Plains All American (NASDAQ:PAA) to Outperform from In Line with an unchanged price target of $14. Plains is levered to a ramp of upstream activity in the Permian, which is set to drive EBITDA about 10-15% higher in 2022 relative to 2021, estimates the firm , who thinks this will drive the stock to outperform peers.
