Investing

Top Analyst Upgrades and Downgrades: Alphabet, Check Point, Chesapeake Energy, Chevron, Intel, MannKind, Schlumberger, Transocean and More

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Stocks were indicated to open higher on Tuesday morning after a very dull Columbus Day-induced weak volume and low volatility Monday. The S&P 500 and Dow Jones Industrial Average are both effectively at all-time highs and this week will mark the start of third quarter earnings season. This more than eight year bull market has been characterized by investors managing to keep finding new reasons to buy stocks after every market sell-off. Those same investors are also on the hunt for new investing and trading ideas with their capital.

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

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

Tuesday’s analyst calls have a dominance of energy (oil and gas), while Monday’s calls were dominated by analysts raising bank price targets immediately ahead of earnings season.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, October 10, 2017.

Alphabet Inc. (NASDAQ: GOOGL) was reiterated as Buy and with a $1,200 price target (versus a $992.31 prior close) at Jefferies. The firm did a deeper dive into multiple angle of the company and noted that the company’s valuation still looks compelling and that it has the right pieces in place to deliver meaningful 20% or more upside.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) was reiterated as Overweight and its price target was raised to $122 from $115 at Stephens. The 52-week trading range is $74.34 to $117.11, and the consensus analyst target price is $109.66.

Chesapeake Energy Corp. (NYSE: CHK) was assumed (downgraded) with an Underperform rating (prior was Hold) and the prior $4 price target was slashed to $2 at Jefferies. Chesapeake’s consensus target price was $4.69 before this call, and its 52-week range is $3.55 to $8.20.

Chevron Corp. (NYSE: CVX) was reiterated as Overweight and the price target was raised to $130 from $120 (versus a $117.71 close) at Barclays. Chevron has a 52-week range of $99.61 to $119.00 and a consensus target price of $116.91.

Eli Lilly and Co. (NYSE: LLY) was downgraded to Neutral from Outperform at Credit Suisse on the heels of a late-stage lung cancer trial disappointment. After closing at $87.05 on Monday, its shares were indicated down 3.2% at $84.23. Eli Lilly had a consensus target price of $90.38, and its 52-week trading range is $64.18 to $89.09.

Intel Corp. (NASDAQ: INTC) was reiterated as Positive and the price target was raised to $46 from $45 at Susquehanna. Shares were indicated up 14 cents at $40.00 on Tuesday morning, in a 52-week range of $33.23 to $39.89. The consensus target price is $40.50.

MannKind Corp. (NASDAQ: MNKD) was started as Buy and assigned a $7 price target (versus a $5.33 close) at H.C. Wainwright. Shares were indicated up 13% at $6.03 on Tuesday, in a 52-week range of $0.67 to $6.51. MannKind still had a short interest of more than 23 million shares on last look.

Schlumberger Ltd. (NYSE: SLB) was started as Buy and assigned a $13 target price at Deutsche Bank. JPMorgan lowered its target price to $75 from $76. The shares were last indicated up 1% at $69.00, with a consensus analyst target price of $78.55 and in a 52-week range of 62.56 to $87.84.

Transocean Ltd. (NYSE: RIG) was started as Buy and assigned a $13 target price (versus a $10.51 close) at Deutsche Bank. It has a 52-week range of $7.20 to $16.66. The consensus analyst target is $11.07, and the 52-week range is $7.20 to $16.66.

T-Mobile US Inc. (NASDAQ: TMUS) saw its target price cut to $65 from $70 (versus a $61.56 close) and Sprint Corp. (NYSE: S) saw its target price cut to $7 from $8 (versus a $7.32 close) at Deutsche Bank.

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Other top analyst calls were seen as follows:

AMC Networks Inc. (NASDAQ: AMCX) was started as Outperform and assigned a $72 price target at Wells Fargo.

Baker Hughes, a GE Company (NYSE: BHGE) was started as Hold and was given a $35 price target at Deutsche Bank.

Halliburton Co. (NYSE: HAL) was started as Buy with a $54 target price at Deutsche Bank.

Illinois Tool Works Inc. (NYSE: ITW) was raised to Neutral from Underweight and the target price was raised to $140 from $132 at JPMorgan.

Monolitithic Power Systems Inc. (NASDAQ: MPWR) was started as Buy and assigned a $132 target price at SunTrust Robinson Humphrey.

Nabors Industries Ltd. (NYSE: NBR) was started as Hold and assigned a $9 target price at Deutsche Bank.

National Oilwell Varco Inc. (NYSE: NOV) was started as Hold and assigned a $39 target price at Deutsche Bank.

Noble Corp. PLC (NYSE: NE) was started as Hold and assigned a $4 target price at Deutsche Bank.

Noble Energy Inc. (NYSE: NBL) saw its target price trimmed down to $33 from $37 at BMO Capital Markets. It was also downgraded to Hold from Buy at Jefferies.

Oceaneering International Inc. (NYSE: OII) was started as Hold and assigned a $28 target price at Deutsche Bank.

Okta Inc. (NASDAQ: OKTA) was started with an Outperform rating and assigned a $32 price target (versus a $28.00 close) at Oppenheimer.

Palo Alto Networks Inc. (NYSE: PANW) was raised to Overweight from Equal Weight and the price target was raised to $185 from $150 at Morgan Stanley.

PRA Group Inc. (NASDAQ: PRAA) was downgraded to Market Perform from Outperform and the price target was cut to $32 from $36 at Keefe Bruyette & Woods.

RSP Permian Inc. (NYSE: RSPP) was resumed with a Buy rating and assigned a $47 from price target, up from a prior $46 target (versus a prior closing price of $34.07), at Jefferies.

Symantec Corp. (NASDAQ: SYMC) was downgraded to Equal Weight from Overweight and the price target was cut to $34 from $37 at Morgan Stanley.

Weatherford International PLC (NYSE: WFT) was started as Buy and assigned a $6 target price at Deutsche Bank.

Monday’s top analyst upgrades and downgrades included Ctrip, Goldman Sachs, Johnson & Johnson, Medtronic, Morgan Stanley, Yelp, Yum China and many more.

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