US Top Rating Updates on 11/7: META, COST, SHEL, EL and More

Itau BBA analyst Thiago Kapulskis upgraded $Meta Platforms (META.US)$ to Outperform from Market Perform with a $102 price target. Meta's current share price "reflects an extremely bear case, where it would be crazily spending forever while being disrupted by Apple and/or TikTok," Kapulskis tells investors in a research note.

Wells Fargo analyst Edward Kelly downgraded $Costco (COST.US)$ to Equal Weight from Overweight with a price target of $490, down from $600. The analyst sees a "number of hurdles" in the company's path and calls Costco a "rich multiple stock."

Goldman Sachs analyst Michele Della Vigna downgraded $Shell (SHEL.US)$ to Neutral from Buy with a price target of $76, down from $79. The analyst cites valuation for the downgrade following the stock's period of outperformance. Shell's continued improvement in corporate returns and historically high cash flow generation has led to a "relatively expensive valuation" versus peers, Della Vigna tells investors in a research note.