Investing

Top Analyst Upgrades and Downgrades: Alcoa, ADM, Citigroup, Gap, Kroger, Nike, Nucor, Rite Aid, Teva, Under Armour and More

Jon C. Ogg

Published: September 12, 2017 9:00 am

Last Updated: March 20, 2020 11:17 am

Stocks were indicated to open higher again on Tuesday after strong gains on Monday. Investors should keep in mind that the major stock indexes still remain close to all-time highs. Another issue that cannot be ignored is that investors have kept finding new reasons to buy stocks after every sell-off, a trend that is over five years old in this eight-and-a-half year-old bull market. Many of those same investors are also looking 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, while 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 Tuesday, September 12, 2017.

Alcoa Corp. (NYSE: AA) was raised to Buy from Hold at Deutsche Bank. Shares closed up 2.3% at $43.60 on Monday and were indicated up 2.4% at $44.70 on Tuesday. Alcoa’s 52-week trading range is $20.53 to $45.22, and its consensus analyst target price is $44.33.

Archer Daniels Midland Co. (NYSE: ADM) was started with an Outperform rating and assigned a $50 target price (versus a $42.79 prior close) at Robert W. Baird. Its shares were indicated up about 1% at $43.20 in Tuesday’s early trading, in a 52-week range of $40.22 to $47.88 and with a consensus target price of $42.17.

Citigroup Inc. (NYSE: C) was raised to Hold from Sell at Soc-Gen. Citigroup closed up 2.3% at $67.71 on Monday but was flat on Tuesday. Citigroup’s consensus target price is $72.92 and its 52-week range is $45.16 to $69.86.

Gap Inc. (NYSE: GPS) was reiterated as Buy and the price target was raised to $39 from $35 (versus a $25.94 close) at Jefferies. The call is focusing on allocating capital toward growth and away from specialty and the market under-appreciating some positive pieces of the company. Gap shares have 52-week range of $21.02 to $30.74 and a consensus target price of $25.50.

Kroger Co. (NYSE: KR) was raised to Buy from Hold with a $25 price target (versus a $21.34 close) at Pivotal Research. Kroger has a consensus analyst target of $23.59, and it has a 52-week range of $20.41 to $36.44.

Nike Inc. (NYSE: NKE) was started as Outperform with a $69 price target (versus a $53.03 close) at Sanford Bernstein. It was indicated up 0.8% at $53.45 on Tuesday, and it has a 52-week range of $49.01 to $60.53 and a consensus target price of $61.32.

Nucor Corp. (NYSE: NUE) was downgraded to Equal Weight from Overweight at Morgan Stanley. Nucor closed down 1% at $53.97 on Monday and was indicated down another 0.9% at $53.46 on Tuesday.

Rite Aid Corp. (NYSE: RAD) was started with a Hold rating and assigned a $2.50 price target (versus a $2.49 close) at Loop Capital. The stock was indicated up 0.8% at $2.51 on Tuesday, but its 52-week range is $2.21 to $8.77, if you include its old buyout offer from before it shrunk itself after the merger failed. Rite Aid’s consensus target price is just $2.55.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was up 19% to $18.50 on Monday after announcing a new CEO. Jefferies maintained its Hold rating but lowered its price target to $21 from $26. Teva was indicated up another 7% at $19.88 on Tuesday, perhaps on a continued short squeeze. Its 52-week range is $15.22 to $52.66.

Under Armour Inc. (NYSE: UAA) was started with an Underperform rating and assigned a $14 price target (versus a $17.42 close) at Sanford Bernstein. It was indicated up about 0.5% at $17.50 on Tuesday, with a 52-week range of $15.92 to $40.14 and with a consensus target price of $20.02.

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Other key analyst calls were seen in the following:

Advance Auto Parts Inc. (NYSE: AAP) was downgraded to Sell from Neutral and the price target was cut to $82 from $99 (versus a $94.40 close) at Citigroup. The stock was indicated down 1.2% at $93.25 on Tuesday, in a 52-week range of $82.21 to $177.83 and with a prior $108.28 consensus price target.

Bunge Ltd. (NYSE: BG) was started as Neutral at Robert W. Baird.

Coach Inc. (NYSE: COH) was started as Outperform with a $51 price target (versus a $40.80 close) at Sanford Bernstein. Shares were indicated up just 0.25% at $40.90 after the call was made on Tuesday morning, versus a consensus analyst target of $49.74.

Comerica Inc. (NYSE: CMA) was raised to Overweight from Neutral with an $80 price target (versus a $66.75 close) at Piper Jaffray. Wedbush Securities has a Neutral rating but lowered its price target to $74 from $77. The consensus target price is $76.07, and the 52-week range is $45.14 to $75.72.

CTI BioPharma Corp. (NASDAQ: CTIC) was started with a Buy rating and assigned a $7.50 price target (versus a $3.24 close) at Jefferies. The firm was positive on Pacrtinib showing solid efficacy and acceptable safety in myelofibrosis patients with low platelets and who had failed Jakafi. Shares were indicated up 8% at $3.50, and the 52-week range is $0.36 to $6.48.

Lam Research Corp. (NASDAQ: LRCX) was started with a Buy rating and assigned a $196 price target (versus a $169.96 close) at Argus. It has a consensus target price of $191.11, and its street-high target is listed as $230.

Lululemon Athletica Inc. (NASDAQ: LULU) was started with a Market Perform rating and assigned a $66 price target (versus a $61.89 close) at Sanford Bernstein. Lululemon has a 52-week range of $47.26 to $72.70 and a consensus price target of $64.03.

Michael Kors Holdings Ltd. (NYSE: KORS) was started with an Underperform rating and assigned a $37 price target (versus a $42.69 close) at Sanford Bernstein. The 52-week range is $32.38 to $52.67.

Ranger Energy Service Inc. (NYSE: RNGR) was started with an Overweight rating and assigned an $18 price target (versus a $13.93 close) at Piper Jaffray.

Precision Drilling Corp. (NYSE: PDS) was downgraded to Neutral from Overweight at JPMorgan. It closed up 3.8% at $2.73 on Monday and was indicated to open down 4.7% at $2.60 on Tuesday.

Steel Dynamics Inc. (NASDAQ: STLD) was downgraded to Equal Weight from Overweight at Morgan Stanley.

Tahoe Resources Inc. (NYSE: TAHO) was raised to Outperform from Market Perform by BMO Capital Markets. It closed up 33% at $6.27 on Monday after Guatemala reinstated its mining license for its local subsidiary. Tahoe Resources was indicated up almost 2% at $6.38 on Tuesday.

Tetra Tech Inc. (NASDAQ: TTEK) was downgraded to Neutral from Overweight at JPMorgan.

TJX Companies Inc. (NYSE: TJX) was started as Outperform with an $88 price target (versus a $72.84 close) at Sanford Bernstein. Its shares have a consensus target price of $82.33 and a 52-week range of $66.66 to $80.92.

Monday’s top analyst calls included GrubHub, Kroger, Newell Brands, Seagate, Snap, Sony and many more companies.