Stocks were sharply higher after the European Central Bank set further quantitative easing with more rate cuts (negative rates too) and increased asset purchases. This is driving the S&P over 2,000 and the Dow over 17,000. The first six weeks of 2016 were simply for selling into rallies, but we are now almost at four weeks of rallying.
24/7 Wall St. reviews dozens of analyst reports each morning to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Thursday, March 10, 2016.
DepoMed Inc. (NASDAQ: DEPO) was started as Outperform with a $21 price target (versus a $14.62 prior close) at Leerink. It has a consensus analyst target of $24.70 and a 52-week trading range of $13.27 to $33.74.
Enterprise Products Partners L.P. (NYSE: EPD) was maintained as Outperform with a $30 price target at Credit Suisse. The firm lowered earnings expectations in the call but said that the outlook remains strong. Shares closed at $23.40 and have a $32.17 consensus analyst target and a 52-week range of $19.00 to $34.73.
(NASDAQ: EXPE) was raised to Overweight from Neutral and the price target was lifted to $140 from $130 (versus a $105.69 close) at Piper Jaffray. Expedia has a consensus price target of $131.46 and a 52-week range of $88.40 to $140.51.
Netflix Inc. (NASDAQ: NFLX) was maintained as Buy with a $164 price objective at Bank of America Merrill lynch. The firm sees some risks to near-term subscriber estimates, but sees a strong long-term growth story. The $164 target was based on its peak penetration sum of the parts valuation.
Sunrun Inc. (NASDAQ: RUN) was started as Buy with a price target of $15 (versus a $6.65 close) at Deutsche Bank. The consensus price target is $18.42, and the 52-week range is $4.86 to $14.95.
Vale S.A. (NYSE: VALE) was downgraded to Hold from Buy at Stifel. The stock closed at $3.93 and has a 52-week range of $2.13 to $9.14.
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Other key analyst upgrades and downgrades were seen on Thursday in the following:
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