Alamos Gold Inc. (NYSE: AGI) was downgraded to Sector Perform but the price target was raised to $9 from $8.50 (versus an $8.60 close) at RBC Capital Markets.
Bed Bath & Beyond Inc. (NYSE: BBBY) was maintained as Buy at Argus, but the firm lowered its price target to $50 from $55 (versus a $40.33 closing price).
Big Lots Inc. (NYSE: BIG) was started as Neutral with a $55 price target at Susquehanna.
CSX Corp. (NYSE: CSX) was raised to Outperform at Avondale.
Dillard’s Inc. (NYSE: DDS) was started as Positive and was given a $60 price target (versus a $57.29 close) at Susquehanna.
Fossil Group Inc. (NASDAQ: FOSL) was downgraded to Underperform from Neutral and the price target was cut to $19 from $25 (versus a $23.31 close) at Mizuho.
J.C. Penney Co. Inc. (NYSE: JCP) was started as Positive with an $8.50 price target at Susquehanna. Its shares closed up 1.3% at $7.07 on Thursday and were indicated up another 1.5% at $71.7 on Friday, versus a 52-week range of $6.35 to $11.99.
Kohl’s Corp. (NYSE: KSS) was started as Neutral with a $41 price target (versus a $42.10 close) at Susquehanna.
Macy’s Inc. (NYSE: M) was started as Neutral with a $31 price target (versus a $32.37 close) at Susquehanna.
Nordstrom Inc. (NYSE: JWN) was started as Neutral with a $47 price target (versus a $45.55 close) at Susquehanna.
Sears Holdings Corp. (NASDAQ: SHLD) was started as Negative with a $4 price target at Susquehanna. After earnings, Sears shares were indicated up over 40% at $7.95 (versus a $5.54 close), based more on a restructuring and cost/debt cut rather than based on actual earnings excitement.
Ubiquiti Networks Inc. (NASDAQ: UBNT) was last seen down more than 8% at $58.50, versus a $64.13 close after its earnings report missed expectations. Ubiquiti was downgraded to Underperform and the price target was cut to $44 from $47 at Credit Suisse, with the note that the bearish case is building. Its 52-week range is $30.82 to $64.62.
Williams Partners L.P. (NYSE: WPZ) was started as Buy with a $47 price target (versus a $40.84 close) at Deutsche Bank.
Williams Companies Inc. (NYSE: WMB) was started with a Hold rating and given a $32 price target (versus a $28.67 close) at Deutsche Bank.
Thursday’s top analyst calls included Baker Hughes, Cree, Freeport-McMoRan, GrubHub, Silver Wheaton, Dynegy, Panera Bread, Ulta Beauty and over a dozen more.
This week, Merrill Lynch pointed out that the S&P 500 recently reached 17 times forward earnings. This is a level that was reached in 2015, but prior to that a high valuation like this had not been seen since 2004. The firm also said that financial stocks and energy stocks saw multiples contract in January as earnings estimates rose faster than prices.