Top Analyst Upgrades and Downgrades: Chipotle, 3M, Mobileye, Netflix, Seagate, Yahoo and Many More
The stock market is close to all-time highs again, but stocks were indicated marginally lower on Tuesday morning. The market has moved past the Brexit uncertainty and does not even seem to be concerned about high valuations. Investors keep proving that they will buy their favorite stocks on pullbacks.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while others feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:
Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Outperform from Underperform at CLSA. Price target data was not available early on Tuesday, but this call is just a couple trading days after Morgan Stanley warned that Chipotle’s troubles could last a few years in its analyst downgrade of the food chain. Chipotle has a 52-week trading range of $384.77 to $758.61, and closed up it 1% at $408.90 on Monday, with a premarket indication up another 1.5% at $415.00 on Tuesday.
3M Co. (NYSE: MMM) was reiterated as Buy at Jefferies, but the standout issue here is that the price target was raised to $210 from $190. Shares closed at $181.11 on Monday, versus a 52-week range of $134.00 to $181.84. The consensus analyst price target was $174.57, but the prior street-high analyst price target was $200.
Mobileye N.V. (NYSE: MBLY) was started with a Neutral rating and its price target is $55 (versus a $48.48 prior close) at JPMorgan. The 52-week range is $23.57 to $64.48, and the consensus price target is $56.92.
Netflix Inc. (NASDAQ: NFLX) closed at $98.81 on Monday, but its stock was indicated down almost 13% at $86.00 in early Tuesday trading after earnings. The online film and media streaming giant was maintained as Underperform at Jefferies but the price target was cut to $76 from $80 in that call. Mizuho maintained its Neutral rating but cut its target to $90 from $109. Merrill Lynch reiterated its Buy rating and $121 price objective, and Credit Suisse maintained its Outperform rating and $122 target. Netflix has a 52-week range of $79.95 to $133.27.
Seagate Technology PLC (NASDAQ: STX) was raised to Neutral from Sell at Citigroup. Shares closed up 4.3% at $30.15 and were indicated up 0.3% at $30.25 early on Tuesday. The 52-week range is $18.42 to $52.88, but the consensus price target is still currently lower at $26.73.
Yahoo! Inc. (NASDAQ: YHOO) closed up 0.6% at $37.95 on Monday and was indicated down 1% at $37.55 on Tuesday after its earnings report. Yahoo was downgraded to Hold from Buy with a $41 price target (versus a $37.95 close) at Pivotal Research. RBC Capital Markets reiterated its Sector Perform rating and raised its price target to $39 from $38. Merrill Lynch said that its base case, using a 20% discount on Alibaba, suggests $43, but the upside case its $48 price objective.
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Other top analyst upgrades and downgrades were seen as follows: