These are this Monday’s top analyst upgrades, downgrades and initiations.
American Water Works Co. Inc. (NYSE: AWK) was started as Neutral and was assigned a $54 price target (versus a $49.70 close) at Goldman Sachs. American Water Works has a 52-week trading range of $45.98 to $57.48 and a consensus price target of $57.04. On top of a 2.7% yield, American Water Works was recently renamed to our own 10 stocks to own for the next decade.
CenturyLink Inc. (NYSE: CTL) was raised to Outperform from Market Perform with a $34 price target (versus a $29.92 close) Raymond James. CenturyLink has a consensus price target of $35.39 and a 52-week range of $29.28 to $45.67.
Chesapeake Energy Corp. (NYSE: CHK) was raised to Buy from Underperform and was given a $13 price target (versus a $11.16 close) at Sterne Agee CRT. Chesapeake has a consensus price target of $15.23 and a 52-week range of $11.00 to $29.92.
Chimera Investment Corp. (NYSE: CIM) was started as Buy with a price target of $16 (versus a $13.84 close) at Nomura. As a reminder, Chimera is a high-yield mortgage-backed securities (MBS) real estate investment trust (REIT). It has a 52-week range of $13.75 to $17.05 and a consensus price target of $15.06.
Macy’s Inc. (NYSE: M) was downgraded to Sell from Buy with a $63 price target (versus a $69.85 close) at Deutsche Bank. Macy’s has a 52-week range of $54.84 to $71.10 and a consensus price target of $68.53.
Tesla Motors Inc. (NASDAQ: TSLA) was reiterated as Outperform and the price target was raised to $325 from $290 at Credit Suisse. The firm said that it expects 11,000 to 11,500 deliveries in the second quarter, versus other estimates of 10,000 to 11,000 expected.
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Additional top analyst upgrades and downgrades on Monday included the following:
Arc Logistics Partners L.P. (NYSE: ARCX) was started as Buy with a price target of $26.00 (versus a $17.74 close) at SunTrust Robinson Humphrey.
Becton, Dickinson and Co. (NYSE: BDX) was raised to Buy from Neutral with a $167 price (versus a $142.04 close) at UBS.
Entegris Inc. (NASDAQ: ENTG) was started as Sector Weight at Pacific Crest.
Organovo Holdings Inc. (NYSEMKT: ONVO) was started as Buy with a $5 price target (versus a $3.93 close) at Jefferies. Piper Jaffray also started coverage as Overweight with a $5 price target as well.
OvaScience Inc. (NASDAQ: OVAS) was started as Neutral with a $40 price target (versus a $29.86 close) at JPMorgan.
8point3 Energy Partners L.P. (NASDAQ: CAFD) was started as Neutral with a $21 price target (versus a $19.69 close) at UBS.
Rouse Properties Inc. (NYSE: RSE) was started as Overweight with a $21 price target (versus a $16.35 close) at Barclays.
Ryder System Inc. (NYSE: R) was raised to Buy from Hold with a $104 price target (versus a $89.08 close) at Stifel.
Synaptics Inc. (NASDAQ: SYNA) was raised to Outperform from Perform with a $105 price target (versus a $86.32 close) at Oppenheimer. This upgrade is on the heels of last week’s drop from almost $94 to almost $86 on fears of not supplying iPhone chips.
Ternium S.A. (NYSE: TX) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.
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The Dow fell 0.4% last week and was up 0.7% in 2015, while the S&P 500 also fell 0.4% last week and was up 2.1% for the year. Credit Suisse’s strategy team said on Monday:
Global growth is improving after a slow start to the year. We expect broad-based strength in the second half driven by a rebounding US, policy stimulus across Asia, and an ongoing European upswing, assuming no shock from Greece. … We expect the Fed to start tightening in September. Solid growth and tightening labor markets should prevent further loosening this year from the ECB and BoJ.
Imagine a day when Greece and Puerto Rico both are effectively resounding the default risks, and the S&P 500 is down 21 points and the Dow is indicated down 180 points. That was the way things were on Monday.
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