Wednesday's analyst calls: Goldman says e-commerce stock will rally 30%, food giant gets upgraded

Goldman Sachs upgraded Shopify to buy from neutral. Piper Sandler, meanwhile, raised its rating on Kraft Heinz to overweight. Check out the latest calls and chatter below. All times ET. 5:47 a.m.: Morgan Stanley downgrades Box It's time to move to the sidelines on Box for other software names, per Morgan Stanley. Analyst Josh Baer downgraded shares to equal weight from overweight and shaved $3 off his price target to $32. Still, Baer's target suggests shares can climb 20.

Borges said the stock's "dislocation" creates an entry-point for traders to hold the "leading" software retail stock. Shares are down more than 24% year to date, which the analyst said is primary due to its investment cycle weighing on margin expansion and mixed spending data. However, she sees reasons to believe those investments can lead to growth in areas like business-to-business and international.

Source: News Formal (newsformal.com)

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