Investing

Top Analyst Upgrades and Downgrades: ADP, Broadcom, Vale, VMware, Walgreens, Zebra Tech and Many More

Antero Midstream GP L.P. (NYSE: AMGP) was given many upside targets as its quiet period ended. A couple straggler calls were also made here. Janney started coverage as Buy with a $27 target, while Citigroup started coverage with a Neutral rating and with a $27 price target.

Ashland Global Holdings Inc. (NYSE: ASH) was reiterated as Buy and the price target was adjusted to $76 (versus a $66.49 close) at Argus to reflect the post-Valvoline separation. Argus views Ashland’s Valvoline separation as a positive for its shareholders as it will allow management to focus on higher-growth, higher-margin businesses, provide funds for dividend hikes, share buybacks or acquisitions.

Beacon Roofing Supply Inc. (NASDAQ: BECN) was started as Neutral and with a $47 target price at Wedbush. Despite positive sales commentary, the firm is below consensus on its earnings estimates ahead.

Codexis Inc. (NYSE: CDXS) was started with a Buy rating and was given a new $8 target price (versus a $4.30 close) at Jefferies. The firm was shown to have a growing recurring revenue base and a robust pipeline of nearly 20 R&D projects that could boost its portfolio of recurring product revenues by more than two times in the coming years.

Donaldson Co. Inc. (NYSE: DCI) was raised to Buy from Hold and the target price was raised to $54 from $49 (versus a $46.83 close) at Jefferies. The firm sees increasing evidence that Donaldson’s end-markets are exiting the multiyear trough, and it feels that its operating leverage should translate into above-average compound growth over the next few years.

Gogo Inc. (NASDAQ: GOGO) was started with an Outperform rating and assigned a $15 target price (versus a $12.65 close) at Raymond James. Gogo has a 52-week range of $7.80 to $13.69.

iRobot Corp. (NASDAQ: IRBT) was downgraded to Hold from Buy at Canaccord Genuity. This stock closed up 2.8% at $99.82 on Tuesday but was indicated down almost 2% at $98.00 on Wednesday.

Koppers Holdings Inc. (NYSE: KOP) was downgraded to Hold from Buy and the price target was cut to $40 from $48 (versus a $37.45 close) at Jefferies. While the firm sees a realigned Koppers providing a relatively inexpensive way to leverage railroad maintenance capex and home remodeling trends in the United States, with railroad spending depressed and remodeling at risk, the firm expects Koppers to be range-bound until two or three quarters before synchronized end-market growth returns in 2019 to 2021.

Molina Healthcare Inc. (NYSE: MOH) was downgraded to Sell from Hold with a $60 target price (versus a $66.30 close) at Stifel. Molina has a 52-week range of $42.56 to $68.67 and a consensus target price of $60.23.

Potbelly Corp. (NASDAQ: PBPB) was raised to Buy from Hold with a $13 price target (versus a $10.85 close) at Maxim Group. Potbelly has a 52-week range of $10.50 to $14.55 and a consensus analyst target of $12.60.

Tuesday’s top analyst calls included Ambarella, BlackBerry, Schlumberger, Valero Energy, Whiting Petroleum, Zynga and over a dozen more.

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