Top Analyst Upgrades and Downgrades: BioMarin, BP, Genworth, Petrobras, Target and More
Stocks were indicated higher yet again on Monday, with the broader markets now effectively at new all-time highs. Investors have shown over and over that they are eager to buy stocks when they are discounted or overlooked. 24/7 Wall St. reviews dozens of analyst research calls each morning of the week to find new investment and trading ideas for its readers. Some analyst reports cover stocks to buy, while others cover stocks to sell or avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations.
Abercrombie & Fitch Co. (NYSE: ANF) was downgraded to Neutral from Buy and the price target was cut to $25 from $40 at Janney Capital Markets, and it was downgraded to Perform from Outperform with a $30 price target (down from $50) at Oppenheimer.
American Eagle Outfitters Inc. (NYSE: AEO) was downgraded to Equal Weight from Overweight and the price target was cut to $11 from $15 at Barclays.
BP PLC (NYSE: BP) was downgraded to Neutral from Overweight at J.P. Morgan.
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was raised to Buy from Neutral and the price target was raised up to $104 from $78 (versus an $83.91 close) at Goldman Sachs.
Boulder Brands Inc. (NASDAQ: BDBD) was raised to Overweight from Neutral and the price target was lifted to $13 from $11 (versus an $8.76 close) at Piper Jaffray.
Genworth Financial Inc. (NYSE: GNW) was downgraded to Market Perform from Outperform at Keefe Bruyette Woods.
Home Depot Inc. (NYSE: HD) was reiterated Outperform and the price target was raised to $115 from $101 at Oppenheimer.
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) was started as Outperform with a $53 price target (versus a $42.14 close) at Oppenheimer.
Lowe’s Companies Inc. (NYSE: LOW) was reiterated Outperform and the price target was raised to $70 from $60 at Oppenheimer.
Myriad Genetics Inc. (NASDAQ: MYGN) was started as Underweight with a $25 price target (versus a $34.89 close) at Morgan Stanley, which might as well have been rated “Strong Sell: with a target that low. The consensus price target was actually $39, and Morgan Stanley’s is the street’s lowest target price.
Nationstar Mortgage Holdings Inc. (NYSE: NSM) was raised to Market Perform from Underperform at Keefe Bruyette Woods.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, was downgraded to Market Perform from Outperform at Cowen.
PulteGroup Inc. (NYSE: PHM) was raised to Buy from Neutral and the price target was raised to $25 from $23 (versus a $19.96 close) at Bank of America Merrill Lynch.
Target Corp. (NYSE: TGT) was raised to Buy from Hold at Stifel.
Furthermore, 24/7 Wall St. would warn readers that there are currently 14 IPOs on deck for this week.