Top Analyst Upgrades and Downgrades: Bed Bath & Beyond, BlackBerry, ConocoPhillips, JPMorgan, Micron, PGE, Wells Fargo and More

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Stocks have hit all-time highs going into tax reform’s passage, and now we are starting to see Wall Street strategists raise growth expectations for 2018. While stocks were indicated marginally higher on Thursday, it is important to keep in mind that this bull market is now nearing nine years old and that investors have continued to do well buying pullbacks. Investors are also looking for new investing and trading ideas to generate gains and income into 2018.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for investors and traders alike. Some daily analyst reports and research reports cover stocks to buy. Others cover stocks to sell or to avoid.

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

These were the top analyst upgrades, downgrades and other research calls from Thursday, December 21, 2017.

ABIOMED Inc. (NASDAQ: ABMD) was reiterated as Buy and the price target was raised to $220 from $208 (versus a $193.69 prior close) at Jefferies. The stock has a 52-week trading range of $103.53 to $200.28.

Axovant Sciences Ltd. (NASDAQ: AXON) was downgraded to Hold from Buy and the price target was cut to $6 from $12 at Jefferies. After closing up 0.6% at $5.21 on Wednesday, its shares were indicated down 4% at $5.00 on Thursday. The 52-week range is $4.60 to $27.98.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) was up 2.5% at $24.57 ahead of earnings but was last seen down 5.6% at $23.20 afterward. Jefferies reiterated it at Hold with a $25 price target. Wedbush Securities maintained its Neutral rating and lowered its price target to $23. Credit Suisse reiterated its Neutral rating, noting that margins are falling and that its stabilization path is unclear. Merrill Lynch reiterated its Underperform rating and $19 price objective.

BlackBerry Ltd. (NYSE: BB) was up almost 12% at $12.17 on Wednesday after earnings. Merrill Lynch called it a low-quality earnings beat and maintained its Underperform rating and $8 price objective. BMO Capital Markets maintained its Market Perform rating but raised its target to $12 from $10.

ConocoPhillips (NYSE: COP) was downgraded to Sector Perform with a $58 price target (versus a $54.25 close) at Scotia Howard Weil. More importantly, the stock was removed from its Focus List.

Darden Restaurants Inc. (NYSE: DRI) was raised to Buy from Hold with a $108 price target (versus a $95.67 close) at Argus.

DexCom Inc. (NASDAQ: DXCM) was reiterated as Buy and the price target was raised to $70 from $58 at Jefferies.