Investing
Top Analyst Upgrades and Downgrades: Autodesk, IBM, Lumber Liquidators, NVIDIA, Salesforce, Symantec, T-Mobile, Wal-Mart and More
May 19, 2017 9:00 am
Last Updated: January 12, 2020 11:51 am
Stocks were indicated to open higher on Friday as a follow-on bounce from Thursday’s recovery after Wednesday’s major sell-off. Investors need to consider that the markets are still very close to all-time highs. Even with the bull market over eight years old, note that investors have found myriad reasons to buy every single major sell-off for more than five years now. Investors and traders alike also are looking for new trading and investing ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some of these analyst reports cover stocks to buy and others cover stocks to sell or to avoid.
Some additional color and commentary has been added on most of the following daily analyst calls, and the consensus sell-side analyst price targets are taken from Thomson Reuters. These were the top analyst upgrades, downgrades and other research calls from Friday, May 19, 2017.
Autodesk Inc. (NASDAQ: ADSK) closed up 2% on Thursday after reporting a narrower loss, and it was indicated up 12.5% at $107.85 on Friday. Autodesk was raised to Neutral from Underperform at Merrill Lynch. Wedbush reiterated its Outperform rating and raised its target to $125 from $120. Its prior high was $98.05, and the consensus analyst target ahead of these target hikes was $95.67.
International Business Machines Corp. (NYSE: IBM) was started with a Sector Perform rating at Pacific Crest. IBM was down 0.1% at $150.78 on Thursday and was indicated up 0.4% at $151.35 on Friday. IBM shares have a consensus target price of $165.70, and their 52-week trading range is $142.50 to $182.79.
Lumber Liquidators Holdings Inc. (NYSE: LL) was raised to Outperform from Perform with a $34 price target at Oppenheimer. The firm noted that its recovery is quickly taking shape. The stock was up 2.5% at $26.21 on Thursday and was indicated up another 4.6% at $27.41 on Friday.
NVIDIA Corp. (NASDAQ: NVDA) was started as Outperform with a $165 price target at Bernstein. Shares closed up 4.2% at $133.07 on Thursday and were indicated to open up another 2.5% at $136.40 on Friday. The 52-week and all-time high is $137.44, and the consensus price target was $125.08.
Salesforce.com Inc. (NYSE: CRM) was reiterated Outperform at Oppenheimer, but the target price was raised to $100 from $95. Jefferies reiterated its Hold rating and its $80 price target. Stifel has a Buy rating and raised its target to $105 from $100.
Symantec Corp. (NASDAQ: SYMC) was downgraded to Sector Perform from Outperform at RBC Capital Markets. After several downgrades and a down week, Symantec was down 1.26% at $29.74 on Thursday and was indicated to open marginally lower on Friday morning.
T-Mobile US Inc. (NYSE: TMUS) was already rated as Buy at Goldman Sachs, but the firm added it to the prized Conviction Buy list with an $81 price target. T-Mobile closed up 2.8% at $65.72 on Thursday and was indicated up 1.9% more at $66.99 on Friday.
Wal-Mart Stores Inc. (NYSE: WMT) was raised to Market Perform from Underperform with an $80 price target at BMO Capital Markets. Wal-Mart closed up 3.2% at $77.54 on Thursday and rose another 0.4% at $77.85 on Friday.
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Other key analyst calls were seen in the following:
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