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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.

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Additional key analyst upgrades and downgrades seen this Tuesday were in the following:

American Campus Communities Inc. (NYSE: ACC) was downgraded to Sell from Neutral at UBS.

Anadarko Petroleum Corp. (NYSE: APC) was raised to Buy from Hold at Jefferies.

ARM Holdings PLC (NASDAQ: ARMH) was raised to Overweight at Equal Weight at Morgan Stanley.

Baxter International (NYSE: BAX) was downgraded to Market Perform from Outperform with a price target of $36 (versus a $38.04 close) at BMO Capital Markets.

Biotie Therapies Corp. (NASDAQ: BITI) was started as Buy with a price target of $26 (versus a $19.44 close) at Roth Capital.

Broadcom Corp. (NASDAQ: BRCM) was downgraded to Perform from Outperform at Oppenheimer.

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Cvent Inc. (NYSE: CVT) was started as Market Outperform with a price target of $36 (versus a $25.78 close) at JMP Securities.

Dillard’s Inc. (NYSE: DDS) was downgraded to Underperform from Neutral with a price target of $95 (versus a $130 close) at Bank of America Merrill Lynch.

Envestnet Inc. (NYSE: ENV) was started as Market Outperform with a $63 price target (versus a $41.22 close) at JMP Securities.

EOG Resources Inc. (NYSE: EOG) was raised to Hold from Underperform at Jefferies.

Global Payments Inc. (NYSE: GPN) was raised to Outperform from Market Perform at Keefe Bruyette & Woods.

Grupo Televisa S.A. (NYSE: TV) was downgraded to Neutral from Overweight at JPMorgan.

Kraft Heinz Co. (NASDAQ: KHC) was started as Overweight with a $79 price target (versus a $72.96 close) at Barclays.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was raised to Perform from Underperform at Oppenheimer.

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Noble Energy PLC (NYSE: NE) was raised to Hold from Underperform at Jefferies.

SAP S.E. (NYSE: SAP) was raised to Buy from Neutral at UBS.

In case you were one of the many who were not in on Monday after a long weekend, the top analyst upgrades and downgrades were in Epizyme, Goldcorp, GoPro, Intuitive Surgical, VMware and over a dozen more companies.

 

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