Top Analyst Upgrades and Downgrades: Activision Blizzard, Boeing, FireEye, Gilead, Groupon, Netflix, Pandora and More

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These are the top analyst upgrades, downgrades and initiations seen on Friday, February 12, 2016.

Activision Blizzard Inc. (NASDAQ: ATVI) closed at $30.52 ahead of earnings but was indicated down 8% at $28.10 in early trading on Friday. Jefferies maintained its Buy rating and $45 price target, noting that it is transforming into a global entertainment network with a half-billion users. Credit Suisse maintained an Outperform rating and $41 target but lowered estimates and said the guidance drop was uncharacteristic but may have been conservative.

Boeing Co. (NYSE: BA) shares fell on Thursday by 6.8% to $108.44 after an SEC accounting probe on its big jets. Boeing was downgraded to Neutral from Overweight and the price target was cut to $120 from $142 at JPMorgan. The prior consensus target is $147.17 and the 52-week trading range is now $102.10 to $158.83.

FireEye Inc. (NASDAQ: FEYE) was down 0.5% before earnings and is indicated up 1.5% after earnings at $12.60. Topeka Capital Markets has a Buy rating but lowered its price target to $30 from $40. Wells Fargo maintained a Market Perform rating but lowered its valuation range to $15.00 to $16.00 from its prior $22.00 to $25.00 range.

Gilead Sciences Inc. (NASDAQ: GILD) was started as Outperform with a price target of $120 (versus a $87.80 prior close) at Oppenheimer. Gilead has a consensus analyst target of $118.63 and a 52-week range of $81.89 to $123.37.

Groupon Inc. (NASDAQ: GRPN) was maintained as Neutral at Credit Suisse after earnings, but the firm sees progress toward a skinnier company and it raised estimates. Wells Fargo maintained its Market Perform rating but lowered its valuation range to $2.50 to $3.00 from a prior range of $3.00 to $3.50.

Netflix Inc. (NASDAQ: NFLX) was downgraded to Market Perform from Outperform and the price target was cut to $100 from $125 (versus a $86.35 close) at FBR Capital Markets. The consensus target price is closer to $125, and the 52-week range is $58.46 to $133.27.

Pandora Media Inc. (NYSE: P) was up 8% at $9.09 on buyout rumors ahead of earnings, and it was indicated up 3% too around $9.35 on Friday. FBR Capital Markets raised Pandora to Outperform from Market Perform with a $16 price target (versus a $9.09 close). Credit Suisse maintained its Neutral rating, but lowered estimates and lowered it target price to $17 from $24. Wells Fargo maintained its Market Perform rating but lowered its valuation range to $10.00 to $12.00 from a prior $12.00 to $14.00 range.

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Other key analyst upgrades and downgrades were seen as follows:

  • Alliance Data Systems Corp. (NYSE: ADS) was started as Buy with a $240 price target (versus $180.45 close) at Jefferies.
  • Archer Daniels Midland Co. (NYSE: ADM) was downgraded to Hold from Buy at Argus.
  • Goldcorp Inc. (NYSE: GG) was downgraded to Sector Perform from Sector Outperform at CIBC.
  • Kroger Co. (NYSE: KR) was started as Buy with a $45 price target (versus a $36.43 close) at Stifel.
  • Linn Energy LLC (NASDAQ: LINE) was downgraded to Sell from Neutral at Citigroup.
  • Memorial Production Partners L.P. (NYSE: MEMP) was downgraded to Neutral from Buy at Ladenburg Thalmann.
  • Sprouts Farmers Market Inc. (NASDAQ: SFM) was started as Buy with a $27 price target (versus a $22.09 close) at Stifel.
  • Square Inc. (NYSE: SQ) was last seen up 16% at $10.01, after Visa is buying close to a 10% stake in Square. SunTrust Robinson Humphrey started Square with a Neutral rating late on Thursday.
  • Vonage Holdings Corp. (NYSE: VG) was reiterated as Buy at Dougherty, but the price target was cut to $7.00 from $9.50 (versus a $4.72 close).

If you missed Thursday’s top analyst upgrades and downgrades, they included Cisco, Dish Networks, First Data, Level 3 Communications, Regions Financial, SolarCity, Tesla, Twitter, Visa and about 20 more companies.

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