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Top Analyst Upgrades and Downgrades: Chevron, Fiat Chrysler, Groupon, GrubHub, HP, IAMGOLD, JD.com, Salesforce and More

Jon C. Ogg

Published: August 23, 2017 9:05 am

Last Updated: March 20, 2020 11:14 am

Stocks were indicated to open lower on Wednesday, but this was after a big rally on Tuesday over hopes being rekindled for a tax cut this year. While the stock market is still very close to all-time highs, the trend that has ruled the roost for more than half of the eight-year bull market is that investors keep buying stocks after every sell-off. Many investors are also on the hunt for new investing and trading ideas to generate gains and income.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy, but some calls cover stocks to sell or to avoid.

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

These were the top analyst upgrades, downgrades and other research calls from Wednesday, August 23, 2017.

Chevron Corp. (NYSE: CVX) traded marginally higher on Monday after reports circulated that CEO John Watson would step down in the coming month. Jefferies maintained its Buy rating and $135 target (versus a $106.36 prior close) and said it is the top pick among integrated oil giants, noting that it would expect a smooth transition in leadership to an internal candidate and no change in strategic direction. Chevron has a 52-week trading range of $97.53 to $119.00 and a consensus analyst price target of $116.62.

Fiat Chrysler Automobiles N.V. (NYSE: FCAU) has been in the news over a sale or investment of its Jeep brand from a Chinese buyer. Fiat Chrysler was reiterated as Buy and the sum of the parts target was raised to $19 from $14 (versus a $13.44 close) at Jefferies. Fiat Chrysler has a 52-week range of $6.05 to $13.57 and a consensus price target of $15.78.

Groupon Inc. (NASDAQ: GRPN) was maintained as Neutral with a $4.50 price target (versus a $4.08 close) at Wedbush Securities. The firm hosted management meetings and was incrementally more positive on Groupon’s outlook, noting the progress of product initiatives and card-linked offers.

GrubHub Inc. (NYSE: GRUB) was reiterated as Outperform with a $63 price target (versus a $54.93 close) at Wedbush. The firm noted that GrubHub remains best positioned to capture an outsized portion of the secular shift to digital in the restaurant delivery space. The 52-week range is $32.42 to $57.26, and the consensus price target is $51.21.

HP Inc. (NYSE: HPQ) was started with a Buy rating and assigned a $23 price target at Loop Capital. Shares closed up 2.4% at $19.02 on Tuesday and were indicated up at $19.12 on Wednesday, in a 52-week range of $13.55 to $19.58.

IAMGOLD Corp. (NYSE: IAG) was raised to Outperform from Market Perform with a $7.50 price target (versus a $5.76 close) at BMO Capital Markets. It has a 52-week range of $3.14 to $5.94 and a consensus price target of $6.73.

JD.com Inc. (NASDAQ: JD) was raised to Buy from Neutral with a $51 price target (versus a $42.15 close after a 2.1% gain) at MKM Partners. The 52-week range is $23.38 to $48.99. The consensus price target is $49.36.

Salesforce.com Inc. (NYSE: CRM) reported earnings that beat estimates and raised guidance, but some internal metrics were lower than expected. Salesforce shares were down almost 2% at $91.25 on Wednesday morning, but the stock was initially down 4% after earnings on Tuesday evening. It was maintained Hold at Jefferies after earnings, but the price target was raised to $84 from $80. It was reiterated as Outperform and the price target was raised to $108 from $105 at Wedbush. Stifel reiterated its Buy rating and the price target was raised to $110 from $105. Credit Suisse reiterated its Outperform rating and raised its target price to $115 from $110. Salesforce has a 52-week range of $66.43 to $93.44.

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Other key analyst calls were seen in the following:

Atmos Energy Corp. (NYSE: ATO) was reiterated as Buy and the price target was raised to $97 from $92 (versus an $88.18 close) at Argus.

Cree Inc. (NASDAQ: CREE) was downgraded to Underweight from Equal Weight with a $16.50 price target (versus a $23.03 close) at Stephens.

Cymabay Therapeutics Inc. (NASDAQ: CBAY) was started as Outperform with a $12 price target at Leerink, and SunTrust Robinson Humphrey started it as Buy with a $15 price target. Shares closed down 1.85% at $6.33 on Tuesday but were indicated up 1.6% at $6.43 on Wednesday. The 52-week range is $1.15 to $8.29.

DSW Inc. (NYSE: DSW) was reiterated as Outperform and its target price was increased to $23 from $22 (versus an $18.43 close) at Wedbush. The call noted that DSW shares continue to trade at about 30% below their historic average. The firm B. Riley raised its rating to Buy from Neutral with a $22 price target.

Duluth Holdings Inc. (NASDAQ: DLTH) was downgraded to Market Perform from Outperform at Raymond James.

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Five Below Inc. (NASDAQ: FIVE) was maintained as Buy with a $62 target (versus a $48.73 close) at Jefferies.

Hewlett Packard Enterprise Co. (NYSE: HPE) was started with a Hold rating and assigned a $17 price target at Loop Capital.

IDEXX Laboratories Inc. (NASDAQ: IDXX) was raised to Buy from Neutral with a $175 price objective (versus a $152.82 close) at Merrill Lynch.

Intuit Inc. (NASDAQ: INTU) saw its price target raised to $146 from $141 at Oppenheimer, and First Analysis raised its rating to Equal Weight from Underweight.

Lakeland Industries Inc. (NASDAQ: LAKE) was started with a Buy rating and assigned an $18 price target (versus a $13.45 close) at Roth Capital.

Superior Drilling Products Inc. (NYSEMKT: SDPI) was started as Outperform with a $2 target price (versus a $0.68 close) at Imperial Capital.

Ulta Beauty Inc. (NASDAQ: ULTA) was maintained as Buy with a $350 price target (versus a $231.65 close) at Jefferies. Ulta saw its target price lowered to $250 from $270 at Oppenheimer. Ulta is down handily from its 52-week high of $314.86, and its 52-week low is $225.13.

VMware Inc. (NYSE: VMW) was reiterated as Outperform and the price target was raised to $125 from $113 at RBC Capital Markets.

Yum! Brands Inc. (NYSE: YUM) was reiterated as Buy and the price target was raised to $88 from $80 at Argus.

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Tuesday’s top analyst upgrades and downgrades included Alibaba, Best Buy, Deere, Jinko Solar, Motorola Solutions, Mylan, VMware and many more.