Top Analyst Upgrades and Downgrades: AK Steel, Alphabet, Amazon, Boeing, ConocoPhilllips, Nokia, Twitter and More
Agenus Inc. (NASDAQ: AGEN) was downgraded to Neutral from Buy and the price target was slashed to $5 from $10 at H.C. Wainwright.
Amec Foster Wheeler PLC (NYSE: AMFW) was raised to Neutral from Underperform at Credit Suisse, but its shares fell 20.7% to $5.63 on Thursday.
Antero Resources Corp. (NYSE: AR) was raised to Positive from Neutral at Susquehanna.
Baidu Inc. (NASDAQ: BIDU) closed up 1.3% at $175.16 ahead of earnings and was up 2.7% at $179.78 afterward despite a revenue drop and warning that China ad curbs will drag earnings. It was downgraded to Neutral from Outperform and the price target was cut to $173 from $184 at Credit Suisse.
Electronic Arts Inc. (NASDAQ: EA) was downgraded to Market Perform from Outperform at Cowen.
GNC Holdings Inc. (NYSE: GNC) was downgraded to Underperform from Neutral by Merrill Lynch. This is just a day after GNC hit the 52-week low club.
McDonald’s Corp. (NYSE: MCD) was maintained as Outperform but the price target was cut to $128 from $132 at Credit Suisse.
McKesson Co. (NYSE: MCK) was downgraded to Market Perform from Outperform at Leerink.
Tractor Supply Co. (NASDAQ: TSCO) was downgraded to Hold from Buy at Argus, noting that its revenue outlook weakened.
West Pharmaceutical Services Inc. (NYSE: WST) was raised to Outperform from Market Perform at Wells Fargo. This is a day after Janney’s post-earnings review reiterated its Buy rating and $90 fair value estimate.
Credit Suisse has issued its preliminary earnings season report card. The firm broke out by large, small and mid capitalization, noting that 41%, 30% and 20% had reported earnings respectively. Credit Suisse showed that 79% of S&P 500 large caps, 71% of mid-caps and 68% of small caps have beat consensus earnings estimates. On revenues, 60% of S&P 500 large caps, 50% of mid-caps and 54% of small caps have beat consensus revenue estimates. For S&P 500 large caps, earnings beats are still up from last quarter (near 2014 highs), and the sales beats for S&P 500 companies have come in a bit over the past week but are still well above last quarter’s beat rate.
Thursday’s top analyst calls were in Groupon, Merck, News Corp., Walt Disney, Vonage, Western Digital and close to a dozen others.