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Top Analyst Upgrades and Downgrades: Boeing, eBay, Facebook, Incyte, Kinder Morgan, PayPal, Qualcomm, US Steel and More

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Stocks were indicated slightly higher on Thursday after a dovish Federal Reserve decision on rates did not keep selling pressure away on Wednesday. Investors may have seen every rally of late be sold off, but the trend for the four years prior to 2016 was that investors bought up every market pullback.

24/7 Wall St. reviews dozens of analyst reports each morning to find new investing and trading ideas for its readers. Some analyst reports are on stocks to buy, while others cover stocks to sell or avoid.

These are this Thursday’s top analyst calls.

Boeing Co. (NYSE: BA) saw shares fall 8.9% to $116.58 after earnings on Wednesday. Now we have Credit Suisse maintaining only a Neutral rating and lowering its target $144 from $158, even noting that a jittery market may have oversold its stock. Goldman Sachs cuts Boeing’s target price to $102 from $106 and maintained its Sell rating. Canaccord Genuity cut the target to $150 from $165 while maintaining its Buy rating. JPMorgan kept its overweight rating but cut the target to $142 from $177, and Deutsche Bank maintained its Buy rating but cut the target to $160 from $175. Jefferies maintained Boeing’s Buy rating but cut its target to $165 from $185.

eBay Inc. (NASDAQ: EBAY) closed down almost 1% at $26.42 ahead of earnings, but was down almost 13% at $23.00 after earnings. Jefferies maintained eBay’s rating as Hold but cut its target to $25 from $28, noting that its business is stabilizing but a full recovery will take time. Credit Suisse maintained its Neutral rating and lowered its target to $29 from $30. Canaccord Genuity lowered its target to $26 from $28.

Facebook Inc. (NASDAQ: FB) closed down almost 3% at $94.45 ahead of earnings, but the social networking giant saw its shares last indicated up 13% at $107.00 or so after earnings. Facebook was reiterated as Buy at Jefferies and the price target was raised to $145 from $135, saying it was a huge beat and it is delivering on its mobile ad platform. Credit Suisse reiterated its Outperform rating and raised its target to $140 from $135. Canaccord Genuity reiterated its Buy rating and $135 target.


Incyte Corp. (NASDAQ: INCY) was last seen down 13% at $65.01 (versus a 52-week high of $133.62) after a Phase II trial was stopped. Incyte maintained as Buy at Jefferies, but the target was slashed to $106 from $141, now that Jakafi’s solid tumor promise has been deflated (even if it is a long-term buying opportunity). Credit Suisse maintained an Outperform rating but lowered its target to $102 from $110.

Kinder Morgan Inc. (NYSE: KMI) was raised to Outperform from Neutral and the price target was raised to $20 from $18 (versus a $14.22 prior close) at Credit Suisse. The firm said it cannot imagine Kinder Morgan falling further from here, even with bad news. Stifel also raised its rating to Buy from Hold.

PayPal Holdings Inc. (NASDAQ: PYPL) traded down 1.2% to $31.59 before earnings, and was indicated up 8% at $34.15 afterward. Jefferies reiterated its Buy rating and $44 target. Argus maintained its Buy rating and $42 target on PayPal, signaling that it is well positioned to take advantage of the changing payments landscape. Credit Suisse maintained its Outperform rating but it cut the target to $39 from $43. Merrill Lynch maintained its Neutral rating.

Qualcomm Inc. (NASDAQ: QCOM) was down 2% at $47.53 before earnings and was indicated down 2.7% at $46.26 afterward. Canaccord Genuity maintained its Buy rating and $65 price target. Credit Suisse maintained its Outperform rating and $67 target.

U.S. Steel Corp. (NYSE: X) was downgraded to Hold from Buy at Argus. Shares were last seen at $6.67, but Argus sees risks down to $4 for U.S. Steel if commodity prices continue to trend lower over the next few months. Argus also widened its 2016 loss estimate and lowered its financial strength.

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Other key analyst upgrades and downgrades seen on Thursday included the following:
Amdocs Ltd. (NYSE: DOX) was raised to Buy from Neutral with a $63 price objective (versus a $52.43 close) at Bank of America Merrill Lynch.

Cavium Inc. (NASDAQ: CAVM) was maintained as Buy but the price target was cut to $74 from $76 at Canaccord Genuity.

Community Health Systems Inc. (NYSE: CYH) was raised to Market Perform from Underperform at Raymond James.

Hawaiian Holdings Inc. (NASDAQ: HA) was raised to Neutral from Underperform and the price objective was raised to $40 from $30 (versus a $36.04 close) at Merrill Lynch.

H&E Equipment Services Inc. (NASDAQ: HEES) was downgraded to Neutral from Buy at UBS, and the price target was lowered to $15 from $22 (versus a $14.42 close).

Kirby Corp. (NYSE: KEX) was downgraded to Sector Perform from Outperform at RBC Capital Markets.


Pan American Silver Corp. (NASDAQ: PAAS) was downgraded to Market Perform from Outperform at FBR Capital Markets.

Philip Morris International Inc. (NYSE: PM) was started as Neutral at UBS.

Range Resources Corp. (NYSE: RRC) was downgraded to Equal Weight from Overweight at Barclays.

Royal Gold Inc. (NASDAQ: RGLD) was downgraded to Market Perform from Outperform at FBR Capital Markets.

Santander Consumer USA Holdings Inc. (NYSE: SC) was maintained as Buy at Jefferies, but the firm slashed the target to $15 from $29, noting that the stock is undervalued and the fundamentals are not as bad as the market reaction.

Seadrill Ltd. (NYSE: SDRL) was downgraded to Equal Weight from Overweight at Morgan Stanley.

United Rentals Inc. (NYSE: URI) was downgraded to Neutral from Buy at UBS, and the price target was slashed to $56 from $94 (versus a $55.84 close).

Vantiv Inc. (NYSE: VNTV) was raised to Positive from Neutral at Susquehanna.

8point3 Energy Partners L.P. (NASDAQ: CAFD) was maintained as Buy at Janney Capital Markets with a $19 fair value estimate (versus a $14.73 close).

If you missed Wednesday’s top analyst upgrades and downgrades, they included Apple, AT&T, DuPont, Fitbit, Huntington Bancshares, McDonald’s, Merck, Newmont Mining, Sprint and over a dozen more companies.

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