Investing

Top Analyst Upgrades and Downgrades: Alaska Air, Boeing, Deutsche Bank, JC Penney, Lowe's MGM Growth, Nokia, Vornado and More

Jon C. Ogg

Published: May 16, 2016 9:15 am

Last Updated: January 13, 2020 8:01 am

Stocks were directionless on Monday, despite weak economic data from China over the weekend. Investors have proven over and over that they are still looking for opportunities and hidden gems, and so far they are more than willing to buy the big market dips.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week. Our goal is to find new investing ideas and trading ideas. Some of these analyst reports cover stocks to buy, and other reports feature stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen from this Monday morning:

Alaska Air Group Inc. (NYSE: ALK) was started with an Outperform rating and was assigned an $89 price target at Cowen. Shares closed at $66.26, and the stock has a consensus analyst price target of $88.41 and a 52-week range of $58.15 to $87.17.

Boeing Co. (NYSE: BA) was reiterated as Buy at Jefferies, along with a $165 price target. The stock closed at $132.12 and has a consensus analyst target of $145.94 and a 52-week range of $102.10 to $150.59. Boeing was given mixed coverage elsewhere after its investor day last week.

Deutsche Bank A.G. (NYSE: DB) was downgraded to Sell from an already cautious Hold rating at Berenberg. This American depositary share (ADS) closed at $16.39 on Friday and was indicated just a few cents lower on Monday. The consensus price target is $16.48, and the 52-week range is $14.78 to $35.38.

J.C. Penney Co. Inc. (NYSE: JCP) was raised to Outperform from Neutral with a $12 price target (versus a $7.58 prior close) at Robert W. Baird. This call was after shares have become cheap and as the turnaround still has some expected upside. The shares have a consensus price target of $10.98 and a 52-week range of $6.00 to $11.99.

Lowe’s Companies Inc. (NYSE: LOW) and Home Depot both had their earnings estimates raised at Oppenheimer. Still, the firm reiterated its Outperform rating on Lowe’s, raising its price target to $85 from $77 (versus a $75.01 close). Lowe’s has a 52-week range of $62.62 to $78.13 and has a consensus target price of $83.91.

MGM Growth Properties LLC (NYSE: MGP) has seen its quiet period end and the brokerage firms in the underwriting can now cover it. Citigroup gave it a Neutral rating. Merrill Lynch assigned a Buy rating and $25 price objective. Morgan Stanley assigned an Overweight rating and a $24 price target, and JPMorgan started it as Overweight with a $26 target price. Deutsche Bank and SunTrust Robinson Humphrey both started coverage of MGM Growth as Buy with a $26 target price.

Nokia Corp. (NYSE: NOK) was raised to Buy from Hold at Canaccord Genuity, and the firm’s price target is $7 (versus a $5.18 close). The consensus price target is $6.74, and the 52-week range of $5.11 to $7.63. Nokia shares had a rough week after lowering guidance took shares down from $5.69.

Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) was maintained as Buy at Jefferies, but the price target was cut to $8 from $10 after closing at $2.30 on Friday. The firm lowered a potential drug sale by half in the call but can see upside elsewhere in the company.

Vornado Realty Trust (NYSE: VNO) was raised to Buy from Hold with a $108 price target at Evercore ISI. This target was raised from $106 and was versus a $95.20 close. Vornado has a consensus price target of $103.54 and has a 52-week range of $78.91 to $103.41.

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Friday’s top analyst upgrades and downgrades were in Allergan, Lockheed Martin, Mylan, Nordstrom, Petrobras, NVIDIA, Western Digital and over a dozen more key companies.