Top Analyst Upgrades and Downgrades: Apple, Baker Hughes, Chipotle, Dollar General, GM, Lowe's, Under Armour and More
Stocks were indicated lower after Apple disappointed on earnings and other key earnings reports are not showing much upside. The theme we have seen for about five years now is that investors still are willing to buy each pullback. High valuations and the notion that this bull market is seven and a half years old just haven’t mattered. Investors are also looking for new ideas to generate gains or income ahead.
24/7 Wall St. reviews dozens of analyst research reports each morning. The goal is to find new investing and trading ideas for our readers. Some of these analyst research reports cover stocks to buy, and others feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday morning:
Apple Inc. (NASDAQ: AAPL) was last seen down almost 3% at $118.25 after posting its first real revenue decline in 15 years. Stifel downgraded Apple to Hold from Buy and cut its target to $115 from $130. Credit Suisse kept its Outperform rating and $150 target. The stock has a 52-week trading range of $89.47 to $123.82 and a consensus analyst price target of $128.81.
Baker Hughes Inc. (NYSE: BHI) was raised to Outperform from Market Perform with a $65 price target (versus a $54.39 close after a 4.3% earnings pop) at Cowen. The 52-week range is $37.58 to $57.37, and the consensus price target is $54.84.
Chipotle Mexican Grill Inc. (NYSE: CMG) was downgraded to Neutral from Outperform and the price target was cut to $375 from $500 (versus a $405.67 prior close) at Credit Suisse. Jefferies maintained an Underperform rating and cut its target to $300 from $330. Wedbush maintained an Underperform rating and $370 price target. The 52-week range is $384.77 to $658.76. The consensus price target is $433.19.
General Motors Co. (NYSE: GM) closed down 4.2% at $31.60 after Europe dragged down earnings. GM was downgraded to Neutral from Buy at Merrill Lynch. It has a 52-week range of $26.69 to $36.88 and a consensus analyst target of $36.17.
Lowe’s Companies Inc. (NYSE: LOW) was downgraded to Neutral from Overweight with a $72 price target (versus a $68.47 close) at JPMorgan. Wedbush downgraded Lowe’s to Neutral from Outperform with a $73 price target. Lowe’s has a 52-week range of $62.62 to $83.65 and a consensus price target of $87.29.
Under Armour Inc. (NYSE: UA) was downgraded to Neutral from Overweight at Atlantic Equities. Deutsche Bank cut its rating to Hold from Buy and slashed the price target to $32 from $50. Mizuho downgraded it to Neutral from Buy. These downgrades come a day after earnings took the stock down 13% to $32.89. The 52-week range is $31.61 to $48.77, and the consensus price target is $43.17.
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Other key analyst upgrades and downgrades were seen as follows: