Investing
Top Analyst Upgrades and Downgrades: AbbVie, Deere, Expedia, HP Enterprise, JPMorgan, Phillips 66 and Many More
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Stocks were indicated higher on Monday, after a positive week before. Could this be a sign that maybe not every rally in 2016 is a selling opportunity? That remains to be seen.
24/7 Wall St. reviews dozens of analyst reports each day to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Monday, February 22, 2016.
AbbVie Inc. (NYSE: ABBV) has a Buy rating at Jefferies, but the firm moved it to the Top Global Pick status, based on increased confidence in biosimilar delays, a cheap valuation and strong 2016 catalyst that should all drive performance.
Deere & Co. (NYSE: DE) was reiterated as Outperform and the price target was raised to $88 from $87 at Credit Suisse. Wells Fargo maintained a Market Perform rating with a valuation range of $80.00 to $83.00.
Expedia Inc. (NASDAQ: EXPE) was downgraded to Sell from Hold at Stifel. Shares closed at $108.67 on Friday but were indicated 1.8% lower $106.70 Monday morning. The consensus analyst target price is $132.83 and the 52-week trading range is $88.40 to $140.51.
JPMorgan Chase & Co. (NYSE: JPM) was reiterated as Outperform with a $75 price target (versus a $57.82 prior close) at Credit Suisse. The firm’s call is ahead of the Investor Day, noting that JPMorgan remains well positioned to sustain above-average return on equity.
Phillips 66 (NYSE: PSX) was reiterated as Buy with a price target of $96 (versus a $80.09 close) at Argus. The consensus price target is $93.82m and the 52-week range is $69.79 to $94.12.
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Other key analyst upgrades, downgrades and initiations seen on Monday were in the following:
If you missed Friday’s top analyst upgrades and downgrades, they included Applied Materials, Duke Energy, Entergy, Salesforce.com, SunEdison and over a dozen more companies.
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