US Top Rating Updates on 12/21: SBUX, RBLX, PLTR, TGT and More

Wolfe Research analyst Gal Munda downgraded $Roblox (RBLX.US)$ to Underperform from Peer Perform with a $24 price target. The company's "disappointing" November metrics potentially provide concern in company execution, Munda tells investors in a research note.

Wolfe Research analyst Alex Zukin downgraded $Palantir (PLTR.US)$ to Underperform from Peer Perform with a $4.50 price target. The company's sales growth has decelerated by 30 points while operating margins have contracted from the mid-30% range to the mid-teens over the past few years with free cash flow on the same trajectory, Zukin tells investors in a research note.

Gordon Haskett analyst Chuck Grom downgraded $Target (TGT.US)$ to Hold from Buy with a $132 price target. Target's traffic levels have "meaningfully eroded over the past two months after a long stretch of very strong results," Grom tells investors in a research note. Further, with 75% of Target's mix more discretionary in nature, the company will continue to face headwinds for much of 2023, adds the analyst.