Top Analyst Upgrades and Downgrades: Boston Scientific, Micron Tech, Salesforce.com, TransCanada, Walgreens and More

September 1, 2016 by Jon C. Ogg

Stocks seem to be on pause and waiting for Friday’s payrolls and unemployment report for a last directional change. What has not changed is that investors do not seem to care about high valuations with the Dow and S&P 500 close to all-time highs. Investors have proven time after time, a trend of more than five years now, that they want to buy their favorite stocks after every market sell-off. Those same are also looking for new ideas to generate income or gains ahead.

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. Other reports feature stocks to sell or to avoid.

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

Boston Scientific Corp. (NYSE: BSX) was raised to Buy from Hold at Argus, and the firm issued a $33 price target based on valuations after earnings and guidance. Shares closed most recently at $23.82 and have a 52-week trading range of $15.67 to $24.79, with a consensus analyst price target of $27.26.

Micron Technology Inc. (NASDAQ: MU) was reiterated as Buy at Cowen, but the firm raised its price target to $19 from $15. It has a 52-week range of $9.31 to $19.30 and a consensus price target of $16.86.

Salesforce.com Inc. (NYSE: CRM) was trading 6.7% lower at $74.11 on Thursday morning after earnings failed to impress on billings against high expectations. Citigroup maintained its Buy rating but lowered its target to $89 from $94. Barclays reiterated its Overweight rating and $89 price target. Morgan Stanley kept its Overweight rating but lowered its target to $107 from $110. The 52-week range is $52.60 to $84.48.

TransCanada Corp. (NYSE: TRP) was started with a Buy rating with a U.S. target of $52 at Merrill Lynch. TransCanada’s American depositary shares closed at $45.45 and have a $49.45 consensus price target, with a 52-week range of $28.40 to $48.34.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) was already rated as Outperform at Credit Suisse, but the stock was added to Credit Suisse’s U.S. Focus List. The shares closed at $80.71, have a 52-week range of $71.50 to $95.74, and have a consensus price target of $91.98.

Other key analyst upgrades and downgrades were seen as follows:

CONE Midstream Partners L.P. (NYSE: CNNX) was started as Buy with a $22 fair value target (versus an $18.25 close) at Janney. The firm sees long-term volume growth at attractive valuations.

Core Laboratories N.V, (NYSE: CLB) was started with a Neutral rating and was given a $115 price target (versus a $111.78 close) at Credit Suisse.

Enbridge Inc. (NYSE: ENB) was started as Neutral but still with about 10% upside in Canadian dollar terms at Merrill Lynch.

Enova International Inc. (NYSE: ENVA) was started as Buy with a $12 price target (versus a $9.59 close) at Jefferies.

Fortune Brands Home & Security Inc. (NYSE: FBHS) was started as Neutral at Citigroup.

Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) was last seen trading up 9% at $27.75 after positive earnings. RBC reiterated its Outperform rating and raised its price target to $32 from $30. Jefferies reiterated its Buy rating and raised its target to $31 from $30.

Orbital-ATK Inc. (NYSE: OA) was started as Buy with a $100 price target (versus a $75.43 close) at Deutsche Bank.

Pentair PLC (NYSE: PNR) was downgraded to Underperform from Market Perform with a $55 price target (versus a $64.05 close) at Cowen.

Spectrum Brands Holdings Inc. (NYSE: SPB) was started as Overweight with a $147 price target (versus a $134.20 close) at Piper Jaffray.

Wex Inc. (NYSE: WEX) was raised to Outperform from Underperform with a $115 price target (versus a $99.31 close) at CLSA.

UBS made a big change to its list of quality growth stocks trading at a reasonable price, its Q-GARP List.

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Wednesday’s top analyst calls included Abercrombie & Fitch, Alibaba, Baidu, First Data, Marvell Technology, Under Armour and over 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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