Top Analyst Upgrades and Downgrades: EA, Fitbit, Shake Shack, Tesla, Teva, Wingstop and More
Stocks were indicated higher on Tuesday after Monday’s post-Greece sell-off. Yet again, the prevailing trend is that investors have bought every single pullback. 24/7 Wall St. reviews dozens of analyst and brokerage reports each morning of the week to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, but some are about stocks to sell or avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations.
Electronic Arts Inc. (NASDAQ: EA) was raised to Buy from Neutral at UBS. EA closed Monday at $68.01 and has a 52-week trading range of $31.77 to $68.48 and a consensus analyst price target of $69.29.
Fitbit Inc. (NYSE: FIT) was started as Outperform with a $52 price target (versus a $40.19 close) at R.W. Baird. Fitbit has a post-IPO range of $29.50 to $44.38.
Shake Shack Inc. (NYSE: SHAK) was downgraded to Underweight from Equal Weight with the same $38 price target (versus a $59.00 close) at Morgan Stanley. The verdict was that Shake Shack was just very overvalued by all metrics. Shares were indicated 3% lower, and the stock has a post-IPO range of $38.64 to $96.75.
Tesla Motors Inc. (NASDAQ: TSLA) was downgraded to Hold from Buy at Deutsche Bank, but the price target was raised to $280 from $245 (versus a $279.72 close). Tesla has a $286.71 consensus price target and a 52-week range of $181.40 to $291.42.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was started as Buy with a $77 price target (versus a $61.66 close) at BTIG. Teva has a consensus price target of $69.32, and 24/7 Wall St. also recently listed it as one of the 10 stocks to own for a decade.
Wingstop Inc. (NASDAQ: WING) saw its quiet period end after closing at $27.70 and with a post-IPO range of $27.00 to $31.99. Wingstop was started as Neutral with a $22 price target at Goldman Sachs and at Outperform by Baird with a $35 target. Barclays started Wingstop as Equal Weight with a $25 price target. Morgan Stanley assigned a new Overweight rating and $42 price target, while Jefferies started it as Buy with a $33 price target.
Additional key analyst upgrades and downgrades seen this Tuesday were in the following: