Top Analyst Upgrades and Downgrades: AMD, Camping World, Endo, Nordstrom, NVIDIA, Snap, Starbucks, Zynga and Many More
Stocks were looking to open marginally higher on Friday. Even the United Kingdom’s unexpected snap election results causing a stir has not wrecked the bullish attitudes. Neither has the notion that all-time highs have been seen in the Dow, S&P 500 and Nasdaq. This bull market is now over eight years old, and investors have shown for years now that they will buy every stock market sell-off. Those same investors are also looking for new investing and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy. Other reports cover stocks to sell or to avoid.
The consensus analyst price target data are the mean of the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of the daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Friday, June 9, 2017.
Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Neutral rating at Longbow Research. Its shares were up 4.2% at $12.90 on Thursday and were indicated up almost 2% more at $13.10 on Friday. AMD’s 52-week trading range is $4.30 to $15.55, and it has a consensus analyst target price of $12.66.
Camping World Holdings Inc. (NYSE: CWH) was raised to Buy from Neutral with a $34 price target (versus a $28.00 prior closing price) at Goldman Sachs. Shares were indicated up 2% at $28.58 on Friday and have a consensus analyst target of $35.83. The trading range has been largely between $21 and $35 since its late 2016 IPO priced at $22 per share.
Endo International PLC (NASDAQ: ENDP) was up 11% at $13.78 on Thursday but was indicated down almost 13% at $12.01 after the FDA is pushing for Endo to take its Opana painkiller off the market due to drug abuse. After the FDA reviewed the post-marketing data, it noted that benefits of Opana ER no longer outweigh its risks. Endo downgraded to Hold from Buy at Stifel. Oppenheimer maintained its Perform rating as a wait-and-see story. Endo’s 52-week range is $9.70 to $24.93.
Nordstrom Inc. (NYSE: JWN) was up 10% at $44.63 on Thursday after word that the Nordstrom family is looking to take Nordstrom private, but it had an intraday high of $47.90. The stock was downgraded to Neutral from Buy at UBS, and it also was downgraded to Neutral from Buy at Guggenheim. Nordstrom has a 52-week range of $35.01 to $62.82 and a consensus target price of $47.35.
NVIDIA Corp. (NASDAQ: NVDA) was reiterated as Buy and the price target was raised to $175 from $140 (versus a $159.95 close) at Argus. The firm noted that its strategy for successfully monetizing its graphics processing know-how in multiple markets supports its fast-rising stock price. NVIDIA has a consensus analyst target of $125.59 and a 52-week range of $44.57 to $160.00.
Snap Inc. (NYSE: SNAP) was down 3.6% at $18.85 on Thursday as news of short sellers attacking it ahead of a July lock-up expiration. Its shares were indicated down another 2% at $18.50 on Friday, as Citigroup downgraded Snap to Neutral from Buy. The firm lowered its target price down to $20 from $24 as it sees the pace of growth to monetization not happening as fast as it previously expected.
Starbucks Corp. (NASDAQ: SBUX) was started as Buy with a $75 target price (versus a $62.24 close) at Mizuho. It has a consensus target price of $66.22 and a 52-week range of $50.84 to $64.87, and this call is after the coffee destination giant has fallen 3% in two days.
Zynga Inc. (NASDAQ: ZNGA) was raised to Overweight from Equal Weight with a $4.50 price target (versus a $3.59 close) at Morgan Stanley. Zynga has a 52-week range of $2.27 to $3.70, and it had a consensus analyst target price of $3.57.
Berkshire Hathaway Inc. (NYSE: BRK-A) has very limited analyst coverage itself, but the conglomerate under Warren Buffett has an overwhelming majority of its $160 billion-plus stock investments tied up in just a few companies. Now it looks like analysts are thinking most of Buffett’s top investments are overvalued or offer very limited upside.
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Other top analyst calls were seen in the following: