Top Analyst Upgrades and Downgrades: Barclays, BP, LifeLock, Mobileye, Oracle, Southwest Air, Whole Foods More
Stocks were indicated lower after a dovish FOMC meeting and going into the first look at GDP in the second quarter. The rally from Tuesday and Wednesday was yet another sign of proof that investors want to buy stocks after every stock market sell-off. 24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some analyst reports cover stocks to buy, and other analyst calls cover stocks to sell or stocks to avoid.
These are this Thursday’s top analyst upgrades, downgrades, and initiations.
Barclays PLC (NYSE: BCS) was given positive or supportive notes at Goldman Sachs, but a firm named Berenberg overseas maintained its Sell rating noting that all the positive sentiment is already reflected in the price (price target 280p vs. 288p now, implying almost 3% downside). In dollar terms, Barclays rose 2% after earnings on Wednesday to $17.78 and has a consensus price target of roughly $20 versus a 52-week range of $13.27 to $17.86.
BP plc (NYSE: BP) was raised to Buy from Hold with price target of $42 (versus $37.39 close) at Argus. The firm talked up cost-cutting and restructuring efforts and the commitment to the dividend, at a time when shares are trading below the five-year average P/E and Price/Cash Flow.
LifeLock, Inc. (NASDAQ: LOCK) was downgraded to Neutral from Buy at BofA Merrill Lynch, and the firm maintained its $10 price objective. LifeLock shares were up 11% to $8.57 before earnings, and they are indicated down 9.5% at $7.76 after earnings. LifeLock has a $15 or so consensus target that has been coming lower since its regulatory action.
Mobileye NV (NYSE: MBLY) was reiterated as Outperform and the price target was raised to $68 from $62 (versus $59.44 close) at RBC Capital Markets. Mobileye has a consensus price target of $65.40 and a 52-week range of $31.11 to $63.17.
Oracle Corp. (NYSE: ORCL) was raised to Buy from Hold with a $50 price target at Jefferies. Oracle has a consensus price target of $46.13 and a 52-week range of $35.82 to $46.71.
Southwest Airlines Co. (NYSE: LUV) was raised to Overweight with a $50 price target at JPMorgan. Southwest closed at $35.52, was indicated up 25 at $36.23 after the call, has a consensus price target of $49.11 and a 52-week trading range of $27.42 to $47.17.
Whole Foods Market Inc. (NASDAQ: WFM) was downgraded to Equal Weight from Overweight with a $37 price target (versus $40.82 close, versus $35.50 early Thursday) at Morgan Stanley. Canaccord Genuity downgraded Whole Foods to Hold from Buy with a $38 price target.
Other key analyst upgrades, downgrades, and initiations from this Wednesday were seen in shares of the following companies: