Top Analyst Upgrades and Downgrades: Analog Devices, Camping World, Ciena, Deere, RSP Permian, Ulta Beauty, Yum China and Many More

June 2, 2017 by Jon C. Ogg

Stocks were indicated to open higher on Friday at a record. This is after President Trump exited the Paris climate accord and after a weaker than expected nonfarm payrolls report. The bull market is more eight years old and investors have still proven time after time that they will buy every big sell-off. Those same investors are also looking for new investing and trading ideas.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for its readers. Some of these analyst reports cover stocks to buy. Others cover stocks to sell or to avoid.

Consensus analyst price target data are the mean of the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of the daily analyst calls.

These were the top analyst upgrades, downgrades and other research calls from Friday, June 2, 2017.

Analog Devices Inc. (NASDAQ: ADI) was downgraded to Reduce from Neutral with a $72 price target (versus an $82.21 prior close) at Instinet. Analog Devices has a 52-week trading range of $52.17 to $90.49, and it has a consensus analyst target price of $94.40.

Camping World Holdings Inc. (NYSE: CWH) was reinstated as Outperform with a target price of $36 (versus a $27.29 closing price) at Credit Suisse. Camping World has a consensus price target of $35.80.

Ciena Corp. (NASDAQ: CIEN) was reiterated as Buy and the price target was raised to $33 (versus a $27.19 close) at Argus. Ciena shares rose by 15.8% on Thursday due to strong earnings and other analysts have raised their targets.

Deere & Co. (NYSE: DE) was raised to Neutral from Underweight and the price target was raised to $122 from $103 at JPMorgan. Deere has a 52-week range of $76.73 to $125.98, and the consensus price target was last seen at $125.05.

RSP Permian Inc. (NYSE: RSPP) was started with an Outperform rating and given a $59 target price (versus a $36.20 closing price) at Credit Suisse. The 52-week range is $32.25 to $46.92, and the consensus price target is $51.82.

Ulta Beauty Inc. (NASDAQ: ULTA) was assumed with a Buy rating and the target price was raised to $350 from $266 (versus a $306.72 close) at Jefferies. They see upside coming from its CRM and development platform and they now view ULTA as a brand development platform and media company with a network of experiential retail venues. Ulta has a 52-week range of $225.13 to $310.00 and consensus target price of $322.27.

Yum China Holdings Inc. (NYSE: YUMC) was started with an Overweight rating and assigned a $42 price target (versus a $40.00 closing price) at JPMorgan. The consensus target price is lower at $35.30, and its shares hit a post-spin-off high of $40.29 on Thursday.

You can follow @Jonogg on Twitter if you want analyst calls and research notes directly on your own feed.

Other key analyst calls were seen in the following:

AECOM (NYSE: ACM) was reiterated as Buy with a $43 price target (versus a $32.84 close) at Argus.

Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) was started as Neutral with a fair value estimate of $67 (versus a $69.70 close) at Janney.

Bluebird Bio Inc. (NASDAQ: BLUE) was last seen trading up 7% after Maxim Group raised its rating to Buy from Hold with a $100 price target (versus a $79.20 close). Its upcoming ASCO presentation on multiple myeloma was cited.

Coty Inc. (NYSE: COTY) was started as Hold with a $17 price target (versus a $19.32 closing price) at Jefferies.

Evolent Health Inc. (NYSE: EVH) was started as Outperform with a $30 price target (versus a $24.60 closing price) at Robert W. Baird.

GlaxoSmithKline PLC (NYSE: GSK) was reiterated as Buy and the price target was raised to $50 from $46 (versus a $44.29 close) at Argus.

Inter Parfums Inc. (NASDAQ: IPAR) was started as Hold with a $35 target price (versus a $35.25 close) at Jefferies.

Matador Resources Co. (NYSE: MTDR) was started with an Outperform rating and given a $34 target price (versus a $23.45 close) at Credit Suisse.

Phibro Animal Health Corp. (NASDAQ: PAHC) was downgraded to Neutral from Outperform but the price target was raised to $36 from $29 (versus a $36.25 close) at Credit Suisse.

Range Resources Corp. (NYSE: RRC) was maintained as Buy but was removed from the prized Conviction Buy list at Goldman Sachs.

SM Energy Co. (NYSE: SM) was started as Outperform and assigned a $30 target price (versus a $16.83 closing price) at Credit Suisse.

Tech Data Corp. (NASDAQ: TECD) was raised to Neutral from Sell at Citigroup.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was raised to Outperform from Perform with a $150 target price (versus a $127.16 closing price) at Oppenheimer.

Wayfair Inc. (NYSE: W) was raised to Outperform from Perform with an $80 target price (versus a $66.84 closing price) at Oppenheimer.

Workday Inc. (NYSE: WDAY) was downgraded to Neutral from Buy at BTIG. BMO Capital Markets maintained a Market Perform rating but the price target was raised to $105 from $96 (versus a $101.50 close).

WPX Energy Inc. (NYSE: WPX) was started as Outperform and its target price was set at $18 (versus an $11.00 close) at Credit Suisse.

Thursday’s top analyst calls included Analog Devices, BP, First Data, General Electric, Goodyear, Illinois Tool Works, NRG Energy, Palo Alto Networks and over a dozen more.

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