Top Analyst Upgrades and Downgrades: Harley-Davidson, HP, KeyCorp, KLA-Tencor, Netflix, Square, T-Mobile and More

August 29, 2016 by Jon C. Ogg

Stocks were indicated higher on Monday, but by such a small margin we would count it as a nondirectional move. The markets are still very close to all-time highs, and investors keep demonstrating that they will buy their favorite stocks in every market sell-off. Those same investors also remain on the hunt for new ideas to generate income or gains.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week. The goal is to find new investing and trading ideas. Some of these analyst reports cover stocks to buy. Others feature stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Monday morning:

Harley-Davidson Inc. (NYSE: HOG) was downgraded to Underperform from Neutral with a $40 price target (versus a $52.57 prior close) at Longbow Research. The shares have a 52-week trading range of $36.36 to $57.33, as well as a consensus analyst price target of $52.18.

HP Inc. (NYSE: HPQ) was reiterated as Buy at Argus, and the firm raised its price target to $19 from $16. Argus sees HP pushing personal computers into new markets (upper-tier consumer notebooks and gaming desktops) as a high-price and margin niche, and that it is maintaining and expanding PC market share while increasing profits.

Netflix Inc. (NASDAQ: NFLX) was started with a Sell rating and was assigned a downside price target of $80 (versus a $97.58 close) at Axiom Capital. The 52-week range is $79.95 to $133.27. The consensus price target is $105.08.

Square Inc. (NYSE: SQ) was downgraded to Neutral from Buy at BTIG. It has a 52-week range of $8.06 to $15.91 and a consensus price target of $12.97.

T-Mobile US Inc. (NYSE: TMUS) was raised to Outperform from Market Perform and the valuation range was raised to $52 to $54 from $48 to $50(versus a $45.96 close) at Wells Fargo. The firm sees T-Mobile being closer to an important hockey-stick ramp-up of the free cash flow generation.

KLA-Tencor Corp. (NYSE: KLAC) was raised to Outperform from Market Perform with an $80 price target (versus a $67.52 close) at Cowen. The 52-week range is $46.76 to $77.88, and the consensus price target is $76.60.

Other key analyst upgrades and downgrades were seen as follows:

Array BioPharma Inc. (NASDAQ: ARRY) was reiterated as Buy and the price target was raised to $7 from $6 (versus a $3.17 close) at Jefferies.

AstraZeneca PLC (NYSE: AZN) was raised to Buy and assigned a $28 price target at Argus.

At Home Group Inc. (NYSE: HOME) was started as Neutral with a $17 price target (versus a $16.08 close) at Goldman Sachs. Jefferies started it with a Buy rating and a $20 price target. William Blair started it with an Outperform rating, and Guggenheim started it as Neutral.

Federal Realty Investment Trust (NYSE: FRT) was raised to Buy from Neutral with a $176 price target (versus a $159.10 close) at Mizuho.

KeyCorp (NYSE: KEY) was downgraded to Neutral from Overweight and the price target was cut to $13.00 from $14.50 (versus a $12.32 close) at Piper Jaffray. The consensus price target is $13.91.

Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Post Properties Inc. (NYSE: PPS) was raised to Outperform from Market Perform with a $72.50 price target at Raymond James.

Recro Pharma Inc. (NASDAQ: REPH) was started with a Buy rating and assigned a $21 price target (versus a $9.15 close) at Janney.

Theravance Biopharma Inc. (NASDAQ: TBPH) was started with a Buy rating and was assigned a $41 price target (versus a $28.18 close) at Evercore ISI.

Several research groups were seen over the weekend:

Friday’s top analyst upgrades and downgrades were in American Airlines, Dollar General, Ecolab, Nike, Southern Copper and about a dozen more.

You can follow @Jonogg on Twitter if you want the daily analyst calls and research updates directly on your Twitter feed.

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