Top Analyst Upgrades and Downgrades: ArcelorMittal, Boeing, Intel, Schlumberger, Yahoo, Vivint Solar, Johnson & Johnson and More

Investing

Published: April 20, 2016 8:50 am

Last Updated: January 13, 2020 10:34 am

Stocks were indicated higher yet again on Wednesday, with the Dow over 18,000 and the S&P 500 back at 2,100. The memories of all the selling pressure during the first six weeks of 2016 are fading into earnings season, and investors have clearly reverted back to the trend of buying pullbacks that prevailed from 2011 to 2015.

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

These are top analyst upgrades, downgrades and initiations seen on Wednesday morning:

ArcelorMittal (NYSE: MT) was raised to Buy from Hold and the price target was raised to $7.00 from $4.50 (versus a $5.87 prior close) at Jefferies. It was downgraded at JPMorgan on Monday (to Underweight from Neutral), after two upgrades last week: Goldman Sachs up to Buy and Credit Suisse up to Outperform. ArcelorMittal has a 52-week trading range of $2.93 to $11.95.

Boeing Co. (NYSE: BA) has been downgraded from an unenthusiastic Neutral rating to Underperform, the equivalent of Sell rating, at Merrill Lynch. Its price objective is only $125. This downgrade is based on a serious issue with the 787 Dreamliner forecasts. Boeing’s own view is that the 787 Dreamliner will generate $29 billion in cash by 2022, but Merrill Lynch now expects only $14 billion to be generated, and it sees Boeing taking a charge on the 787 program or extending the block size as the $30 million profit per plane on average was called unachievable. The consensus price target is $137.95, and the 52-week range is $102.10 to $153.00.