Top Analyst Upgrades and Downgrades: Aerojet Rocketdyne, Alcoa, Amazon, ArcelorMittal, Corning, Intel, Vale, AMD and More
Advanced Micro Devices Inc. (NASDAQ: AMD) was started as Neutral at Macquarie. This was part of a broader semiconductor sector initiation, and most were given the same Neutral ratings.
Alkermes PLC (NASDAQ: ALKS) was reiterated as Outperform and the price target was raised to $78 from $72 at Credit Suisse. The upgrade is on higher Vivitrol forecasts, following management meetings.
Bioverativ Inc. (NASDAQ: BIVV) was started with a Hold rating at Argus. The firm believes that favorable prospects from its pipeline are already factored into the current valuation.
Broadcom Ltd. (NASDAQ: AVGO) was started as Outperform with a $265 price target (versus a $220.04 close) at Macquarie.
HubSpot Inc. (NYSE: HUBS) was raised to Buy from Neutral with a $73 price target (versus a $58.20 close) at BTIG.
JELD-WEN Holding Inc. (NYSE: JELD) was downgraded to Neutral from Outperform with a $34 price target (versus a $33.05 close) at Wedbush. The firm sees a continued benefit of the transformation under a new CEO, but the firm feels there is limited ability to exceed consensus estimates and as the price already reflects the catalysts.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was started as Neutral at Macquarie.
NVIDIA Corp. (NASDAQ: NVDA) was started as Neutral at Macquarie.
Owens Corning (NYSE: OC) was raised to Outperform from Neutral and the price target was raised to $72 from $58 (versus a $60.99 close) at Wedbush. The firm sees more opportunities for Owens Corning to generate shareholder value with capital allocation and growth opportunities following recent portfolio improvements.
Qualcomm Inc. (NASDAQ: QCOM) was started as Neutral at Macquarie.
Quintiles IMS Holdings Inc. (NYSE: Q) was started with an Outperform rating and assigned an $89 price target at Credit Suisse. The firm feels that Quintiles IMS will win from strength in outsourcing demand while leveraging its health care IT platform.
Texas Instruments Inc. (NASDAQ: TXN) was started as Neutral at Macquarie.
Xilinx Inc. (NASDAQ: XLNX) was started as Neutral at Macquarie.
Thursday’s top analyst calls were in ConocoPhillips, Goodyear Tire, Humana, Lululemon Athletica, Range Resources and many more.