Top Analyst Upgrades and Downgrades: GoPro, Randgold, Teva Pharma, Time Warner, Waste Management and More

November 7, 2016 by Jon C. Ogg

Stocks were indicated handily higher, with the Dow up over 200 points and the S&P 500 up 29 points, after the FBI announced new information concerning the Clinton email review. For more than five years, investors have had a different reason each time but they have bought stocks after sell-offs. Investors are also still looking for new ideas to generate gains or income ahead.

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 of these analyst research reports cover stocks to buy, and others cover stocks to sell or avoid.

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

GoPro Inc. (NASDAQ: GPRO) was downgraded to Underperform from Buy with a $10 price objective at Merrill Lynch after last week’s big post-earnings sell-off. GoPro’s $11.12 close compares with an $8.62 to $26.12 range over the past 52 weeks.

Randgold Resources Ltd. (NASDAQ: GOLD) was raised to Overweight from Neutral at JPMorgan. Shares closed down 2.4% at $85.91 on Friday, with a consensus analyst target price of $112.87 and a 52-week trading range of $58.77 to $126.55.

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Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Neutral from Buy with a $48 price objective at Merrill Lynch. The firm remains constructive longer term on Teva’s positioning, but it is cautious about the likelihood of it missing near-term goals. The 52-week range is $37.82 – $66.55, and the consensus target price is $64.86.

Time Warner Inc. (NYSE: TWX) was raised to Outperform from Neutral with a $107 price target (versus an $86.42 prior close) at Credit Suisse. The firm believes that the regulatory pessimism is overdone. The consensus target price is $102.45, and the 52-week range is $55.53 to $94.44.

Waste Management Inc. (NYSE: WM) was raised to Overweight from Equal Weight with a $70 price target (versus a $63.37 close) at Barclays. The 52-week range is $50.63 to $70.50. The consensus price target is $70.40.

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Other key analyst upgrades and downgrades were seen as follows:

Advisory Board Co. (NASDAQ: ABCO) was downgraded to Underperform from Buy and the price objective was lowered to $36 from $48 at Merrill Lynch.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was downgraded to Neutral from Overweight and the price target was cut to $84 from $105 (versus an $82.00 close) at Piper Jaffray.

Cerner Corp. (NASDAQ: CERN) was downgraded to Underperform from Neutral at Merrill Lynch, with the price objective reduced to $51 from $60.

Extraction Oil & Gas LLC (NYSE: XOG) saw its quiet period come to an end and shares closed at $20.42. It was started as Sector Perform with a $24 price target, and Citigroup started it as Neutral. Wells Fargo started it as Outperform, while Barclays started it as Overweight with a $24 price target. KeyBanc started the stock as Overweight with a $25 price target. Credit Suisse started it as Outperform with a $30 target price.

Fairmount Santrol Holdings Inc. (NYSE: FMSA) was raised to Outperform from Neutral at Credit Suisse.

Impax Laboratories Inc. (NASDAQ: IPXL) was downgraded to Underperform from Neutral at Merrill Lynch.

L Brands Inc. (NYSE: LB) was downgraded to Underperform at Jefferies, and the price target was cut to $50 from $70 (versus a $65.00 close).

SteadyMed Ltd. (NASDAQ: STDY) was started as Buy with a $10 price target (versus a $3.90 close) at H.C. Wainwright.

Timken Co. (NYSE: TKR) was raised to Buy from Hold with a $37 price target (versus a $32.30 close) at Evercore ISI.

VimpelCom Ltd. (NYSE: VIP) was started as Outperform at Credit Suisse.

Last week brought five key oil and gas stocks analysts want you to buy.

There were also seven stocks under $10 with big upside.

Analysts have five out-of-favor stocks yielding 5% or more.

Fridays’ top analyst upgrades and downgrades included Agrium, Array BioPharma, Encana, GoPro, 3D Systems and over a dozen more.