The Latest Breaking News from Raymond James

Fastly Inc (NYSE:FSLY) is surging on a speculative rumor that it could be a takeover target by Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). A company like Google could acquire Fastly to improve its content delivery network, the Deal.com reported. Fastly operated a content delivery network to help entities provide faster and more reliable online content. Fastly reported…

Upgrades

Raymond James reduced the price target on Intercontinental Exchange, Inc. (NYSE: ICE) from $161 to $157. Intercontinental Exchange shares rose 0.2% to $130.79 in pre-market trading.

Upgrades

Raymond James analyst Joseph Altobello raised the price target on BRP Inc (NASDAQ: DOOO) to C$146 from C$137 and kept a Strong Buy rating on the shares.

Credit Suisse analyst Lauren Silberman lowered the price target on Darden Restaurants Inc (NYSE:DRI) from $180 to $175 and maintained Outperform rating on the shares. The revised price target implies a 34% upside. While the analyst acknowledged the concerns about the discretionary nature of casual dining, she believes Darden is well-positioned to wade through near-term…

Raymond James analyst Adam Tindle downgraded Okta Inc (NASDAQ:OKTA) to Market Perform from Strong Buy and removed his previous $260 price target.  His prior thesis was that Okta could become a "platform cloud," similar to Salesforce.com Inc (NYSE:CRM). However, his channel conversations have suggested a continually disconnected CIAM go-to-market strategy.  Meanwhile, although partners were willing to trust…

Raymond James analyst Andrew Marok upgraded Integral Ad Science Holding Corp (NASDAQ:IAS) to Strong Buy from Outperform with a price target of $27, up from $26. The price target implies an upside of 69%. Marok had a strong conviction level in Integral Ad Science's long-term fundamental prospects combined with the stock's recent selloff, which he…

Raymond James upgraded Nokia Oyj (NYSE: NOK), citing "improving competitive position" and rebuilding confidence in management.

Analysts continue to see sharp upside in Bumble Inc (NASDAQ:BMBL) despite cutting their price targets post Q4 results. BMO Capital analyst Daniel Salmon upgraded to Outperform from Market Perform with an unchanged price target of $48 (103% upside). Online dating is poised to outperform the internet sector. Cowen analyst John Blackledge raised the price target to $38…

Raymond James cut the price target on Ciena Corporation (NYSE: CIEN) from $80 to $75. Ciena shares fell 10.9% to close at $58.76 on Monday.