Top Analyst Upgrades and Downgrades: Arch Coal, Dow Chemical, Netflix, Mylan, Under Armour, United Technologies and More

October 10, 2016 by Jon C. Ogg

Stocks were indicated marginally lower on Monday. With another presidential debate having passed, a muted jobs report, a continued Federal Reserve jawboning about higher rates and more, you might think that high valuations would be harder to deal with. Still, every sell-off in the market has been met by investors buying stocks. Investors are also looking for new ideas to generate income or gains ahead.

24/7 Wall St. reviews dozens of analyst research reports each morning. The goal is to find new investing and trading ideas for our readers. Some analyst research reports cover stocks to buy, and some feature stocks to sell or avoid.

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

Arch Coal Inc. (NYSE: ARCH) is now back as a public company after emerging from bankruptcy. The newco shares were started with a Buy rating at Stifel, and the firm assigned an $81 price target (versus a $61.70 prior close).

Dow Chemical Co. (NYSE: DOW) was raised to Buy from Neutral with a $62 price target (versus a $52.99 close) at UBS. The stock has a 52-week trading range of $40.26 to $57.10 and a consensus analyst price target of $59.71.

Netflix Inc. (NASDAQ: NFLX) was started as Sell with a $90 price target (versus a $104.82 close) at Deutsche Bank. It has a 52-week range of $79.95 to $133.27 and a consensus price target of $105.21.

Mylan N.V. (NASDAQ: MYL) was raised to Strong Buy from Market Perform with a $57 price target (versus a $35.94 close) at Raymond James. The 52-week range is $35.58 to $55.51. Shares were indicated up about 12% after news of a settlement.

Under Armour Inc. (NYSE: UA) was raised to Outperform from Market Perform at Wells Fargo. It has a 52-week range of $31.61 to $52.37 and a consensus price target of $53.62.

United Technologies Corp. (NYSE: UTX) was downgraded to Neutral from Buy at Citigroup. Shares were down 1.5% at $100.58 on Friday and indicated down 1.4% at $99.20 Monday morning. The 52-week range is $83.39 to $109.83, and the consensus analyst target is $114.00.

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Other key analyst upgrades and downgrades were seen as follows:

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Outperform from Market Perform with a $21 price target (versus a $17.47 close) at BMO Capital Markets.

Athenahealth Inc. (NASDAQ: ATHN) was raised to Buy from Hold with a $152 price target (versus a $125.97 close) at Evercore ISI.

Baker Hughes Inc. (NYSE: BHI) was reiterated as Outperform and the price target was raised to $59 from $50 (versus a $52.84 close) at RBC Capital Market.

Deere & Co. (NYSE: DE) was raised to Outperform from Market Perform at Wells Fargo.

EOG Resources Inc. (NYSE: EOG) was reiterated as Buy and the price target was hiked to $110 from $104 at Wunderlich.

Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Reduce from an already cautious Neutral rating at Nomura.

Alphabet Inc. (NASDAQ: GOOGL) was reiterated as Buy at Axoim Capital, but the price target was raised to $1,000 from $990.

Mattel Inc. (NASDAQ: MAT) was raised to Buy from Neutral with a $36 price target (versus a $30.06 close) at MKM Partners.

Molson Coors Brewing Co. (NYSE: TAP) was started with a Buy rating and a $130 price target (versus a $107.65 close) at Goldman Sachs.

Myriad Genetics Inc. (NASDAQ: MYGN) was downgraded to Sell from Neutral with a $16 price target (versus a $21.35 close) at Ladenburg Thalmann.

ONEOK Partners L.P. (NYSE: OKS) was raised to Hold from Sell at Deutsche Bank.

Plains All American Pipeline L.P. (NYSE: PAA) was raised to Buy from Hold at Deutsche Bank.

Sherwin-Williams Co. (NYSE: SHW) was raised to Buy from Hold with a $300 price target (versus a $268.74 close) at Argus.

Tesaro Inc. (NASDAQ: TSRO) was raised to Buy from Neutral with a $123 price target (versus a $99.26 close) at Merrill Lynch. FBR Capital Markets reiterated its Outperform rating and raised its target to $115 from $102, and RBC Capital Markets raised its target to $128 from $122.

Tyson Foods Inc. (NYSE: TSN) was raised to Buy from Neutral with a $86 price target (versus a $67.75 close) at CLSA. This is after a big “sell” rating took shares down 8.9% on Friday.

Friday’s top analyst calls were in AMD, Cliffs Natural Resources, Gap, KLA-Tencor, Tyson Foods, Wal-Mart and over a dozen more.

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