Top Analyst Upgrades and Downgrades: Accenture, Ciena, Shake Shack, US Steel, Zions, China and More
Aegean Marine Petroleum Network Inc. (NYSE: ANW) was downgraded to Hold from Buy with a $9 price target (versus a $10.50 close) at Stifel.
Autoliv Inc. (NYSE: ALV) was raised to Overweight from Equal Weight and given a $120 target price (versus a $106.90 close) at Morgan Stanley.
Best Buy Co. Inc. (NYSE: BBY) was reiterated as Hold but the price target was raised to $51 from $43 (versus a $51.55 close) at Jefferies.
Bioverativ Inc. (NASDAQ: BIVV) was raised to Neutral from Underperform and the price target was raised to $52 from $47 at Credit Suisse. The firm thinks the last transaction was a smart late stage pipeline deal.
Brookfield Renewable Energy L.P. (NYSE: BEP) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Diana Shipping Inc. (NYSE: DSX) was raised to In-Line from Underperform with a $5 price target (versus a $4.00 close) at Evercore ISI Group.
DSW Inc. (NYSE: DSW) was raised to Neutral from Negative with a $16 price target at Susquehanna, and Wedbush kept a Neutral rating but lowered the price target to $18 from $23.
LSC Communications Inc. (NYSE: LKSD) was started as Neutral and assigned a $24 price objective at Merrill Lynch.
NovoCure Ltd. (NASDAQ: NVCR) was raised to Outperform from Market Perform with a $15 target (versus an $11.60 close) at Wells Fargo.
Nucor Corp. (NYSE: NUE) was raised to Outperform from Neutral at Credit Suisse.
Ooma Inc. (NYSE: OOMA) was downgraded to Neutral from Outperform and the price target was cut to $12 from $16 at Credit Suisse. William Blair downgraded it to Market Perform from Outperform, and Merrill Lynch downgraded Ooma to Underperform from Buy and slashed its price objective to $10 from $13. These downgrades followed disappointing first-quarter results (a loss) and lowered 2018 growth guidance. Shares closed up 0.4% at $11.70 on Tuesday and were indicated down at about $9.90 or so on Wednesday. The 52-week range is $6.67 to $12.30, and the pre-drop consensus analyst target price was $14.70.
Scorpio Tankers Inc. (NYSE: STNG) has entered into agreements to merge with Navig8 Product Tankers to acquire its 27 operating refined products tankers for approximately $1.1 billion. According to Jefferies, this will soon make Scorpio the largest U.S.-listed owner of refined product tankers, and the firm reiterated its Buy rating and $6 price target, after a $4.20 closing price the previous day.
Steel Dynamics Inc. (NASDAQ: STLD) was raised to Outperform from Neutral at Credit Suisse.
Signature Bank (NASDAQ: SBNY) was reiterated as Buy with a $175 price objective (versus a $140.80 close) but was added to the prized US 1 list at Merrill Lynch.
T. Rowe Price Group Inc. (NASDAQ: TROW) was downgraded to Sell from Buy with a $61 price target (versus a $71.06 close) at UBS.
Tuesday’s top analyst calls were in Agilent, Carvana, Cloudera, NCS Multistage, Noble Energy, Shopify, Xilinx and over a dozen more.