Top Analyst Upgrades and Downgrades: Broadcom, Cheniere, Gilead, Microchip Tech, Twitter, Lennar, Bankrate and Many More
Bankrate Inc. (NYSE: RATE) was started with an Outperform rating and assigned a $14 price target (versus a $10.60 prior close) at Oppenheimer.
Cheniere Energy Partners L.P. (NYSEMKT: CQP) was started with an Outperform rating at Wells Fargo.
D.R. Horton Inc. (NYSE: DHI) was started with a Buy rating and assigned a $38 price target at BTIG.
Emerson Electric Co. (NYSE: EMR) was raised to Neutral from Sell and the price target was raised to $64 from $51 at UBS.
KB Home (NYSE: KBH) was started with a Sell rating and assigned a $13 price target (versus a $16.32 close) at BTIG.
Lennar Corp. (NYSE: LEN) was started with a Buy rating and assigned a $56 price target at BTIG.
LendingTree Inc. (NASDAQ: TREE) was started with an Outperform rating and assigned a $129 price target (versus a $113.50 price target) at Oppenheimer.
Loxo Oncology Inc. (NASDAQ: LOXO) was started as Buy and assigned a $50 price target (versus a $39.68 close) at Jefferies. The analysts noted that larotrectinib is nearing the finish line and that there is still room for upside.
Mosaic Co. (NYSE: MOS) was downgraded to Outperform at CLSA.
NetGear Inc. (NASDAQ: NTGR) was downgraded to Market Perform from Outperform at Raymond James.
NGL Energy Partners L.P. (NYSE: NGL) was downgraded to Hold from Buy at Stifel.
NVR Inc. (NYSE: NVR) was started at Neutral at BTIG.
Royal Bank of Scotland Group PLC (NYSE: RBS) was raised to Hold from Underperform at Credit Suisse.
Toll Brothers (NYSE: TOL) was started at Neutral at BTIG.
Varian Medical Systems Inc. (NYSE: VAR) was maintained as Buy but the price target was cut to $88 from $102 (versus a $78.43 close) at Jefferies.
YY Inc. (NASDAQ: YY) was started with a Hold rating and assigned a $45 price target (versus a $41.11 close) at Jefferies.
Tuesday’s top analyst calls included Best Buy, Caterpillar, Nokia, UnitedHealth, Wal-Mart and over a dozen more.
Argus noted about the metrics of the stock market as of February 7, 2017:
We have pointed out that February is not a terrific market month, particularly since the turn of the millennium. But for now, the chief fundamental market mover likely will remain the pace of policy pronouncements from Washington. The upwardmoving stock market seemingly has priced in stimulative action, such as tax cuts and infrastructure spending, that needs more than the president’s pen. The pace at which these items gradually wend their way to and through Congress should remind investors that major changes require time. In the interim, improving earnings and better GDP will be needed to buttress the stock market.