Top Analyst Upgrades and Downgrades: Ambarella, BlackBerry, Schlumberger, Valero, Whiting Petroleum, Zynga and Many More
Stocks were indicated to open lower on Tuesday after a three-day weekend. The S&P is still indicated above 2,400 and the Dow is indicated to be above 21,000. Even though the bull market is more eight years old, investors keep showing over and over that they will buy every big sell-off. Those same investors also are looking for new trading and investing ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week 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 daily analyst calls. Consensus analyst price targets are from the mean of the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls on Tuesday, May 30, 2017.
Ambarella Inc. (NASDAQ: AMBA) was downgraded to Sector Weight from Overweight at Pacific Crest. Shares closed up 12 cents at $65.05 on Friday but were indicated to open down almost 4% at $62.50 on Tuesday morning. Ambarella had a consensus analyst target price of $64.40 and a 52-week trading range of $40.46 to $74.95.
BlackBerry Ltd. (NASDAQ: BBRY) was downgraded to Market Perform from Outperform at Raymond James. It closed down 1% at $11.11 on Friday and was indicated down 1% at $11.00 on Tuesday. BlackBerry’s 52-week range is $6.23 to $11.55 and it had a consensus target price of $8.79.
Schlumberger Ltd. (NYSE: SLB) was reiterated as Neutral at Merrill Lynch, noting that the stock looks weak after having decoupled from oil as its defensive positioning looks less obvious. Schlumberger closed up 1% at $69.59 on Friday, and it has a 52-week range of $68.94 to $87.84.
Valero Energy Corp. (NYSE: VLO) was downgraded to Equal Weight from Overweight at Morgan Stanley. Valero closed down 1.17% at $62.45 on Friday and was indicated down another 0.5% at $62.16 on Tuesday. The 52-week range is $46.88 to $71.40, and the consensus price target is $73.66.
Whiting Petroleum Corp. (NYSE: WLL) was downgraded to Sell from Neutral at Goldman Sachs. It closed up 0.6% at $7.97 on Friday but was indicated to open down 3.5% at $7.69 on Tuesday. Whiting has a 52-week range of $6.38 to $14.44 and a consensus target price of $12.76.
Zynga Inc. (NASDAQ: ZNGA) was raised to Overweight from Neutral at Piper Jaffray. It was indicated up 2.3% at $3.57 on Tuesday, in a 52-week range of $2.27 to $3.63. The prior consensus target price was $3.41.
Other key analyst calls were seen in the following: