HP CUT TO EQUAL WEIGHT: Morgan Stanley analyst Katy Huberty downgraded HP Inc. ($HPQ) to Equal Weight from Overweight with a price target of $31, down from $40. The company's execution issues and lower earnings quality limit upside share in near term, Huberty tells investors in a research note. The analyst expects HP to lose market share as it transitions to commercial PC demand from consumer demand, leading to second half of 2021 revenue below forecasts.HUBERTY PREFERS DELL: Morgan Stanley's Huberty raised the firm's price target on Dell Technologies ($DELL) to $133 from $130 and keeps an Overweight rating on the shares. The analyst prefers Dell to HP Inc., as Dell's "scale and strong supply chain execution" is enabling it to capitalize on the "robust" demand backdrop better than peers, Huberty tells investors in a research note.RECOVERY THESIS PLAYED OUT: Wells Fargo analyst Ike Boruchow downgraded Ulta Beauty ($ULTA) to Equal Weight from Overweight with a price target of $425, down from $430. Ulta has been a "solid re-opening play," outperforming peers since mid-April when pandemic dynamics began to ease, Boruchow tells investors in a research note. However, the analyst says the Street is already modeling margins ahead of management's long-term target, making it difficult to envision upside to consensus estimates. He believes the recovery thesis has played out in the shares and that it is hard to argue for multiple expansion from here.POST-EARNINGS SELLOFF: BofA analyst Justin Post upgraded Peloton Interactive ($PTON) to Buy from Neutral with a price target of $138, up from $135, post last night's Q4 results. The first Q1 guidance was below estimates reflecting the economic reopening, seasonality and delayed Tread launch, Post tells investors in a research note. The analyst attributes the post-earnings stock selloff to the price cut on Bike, a lower margin outlook and more back-end loaded fiscal 2022. However, while uncertainties remain elevated, Peloton indicated that Tread leads have been "incredibly strong," says the analyst. Post now thinks subscriber adds will be more important for stock than margins and he increased fiscal 2022 subscriber and sales estimates. Bears will argue that Peloton is giving up $500M in profit to add a few hundred thousand more subs, but the price cuts "will open new layers of demand, for several years," he contends.ACCELERATING SALES TRENDS: Truist analyst Jake Bartlett upgraded Dave & Buster's ($PLAY) to Buy from Hold with a price target of $54, up from $53. The analyst cites the company's accelerating sales trends and performance of Main Event since May, suggesting that its sales recovery remains "intact" in spite of the resurgence of COVID cases. Dave & Buster's looks relatively well positioned to manage cost pressures including labor due to new operating efficiencies and previously announced hiring initiatives, Bartlett tells investors in his research note.Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .