Top Analyst Upgrades and Downgrades: BioCryst, Exxon, FCA, HPE, IAMGOLD, Mallinckrodt, Rockwell Collins and More
Stocks were indicated to open higher on Wednesday after Tuesday’s strong sell-off. The indexes still remain close to all-time highs, and the one trend that has prevailed for more than five years is that investors have managed to keep finding new reasons to buy stocks after every sell-off. Many of those investors are also looking for new investing and trading ideas to generate gains and income.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new investing and trading ideas for our readers. Some of these top analyst reports cover stocks to buy. Other analyst calls are reiterations of ratings, and some even cover stocks to sell or to avoid.
Additional color and commentary has been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Wednesday, September 6, 2017.
BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) was up for part of Tuesday after positive results from a mid-stage hereditary angioedema study. The stock was raised to Overweight from Neutral with a $9 price target (versus a $4.93 prior close) at JPMorgan. The shares have a 52-week trading range of $3.95 to $5.91 and a consensus analyst target price of $9.25.
Exxon Mobil Corp. (NYSE: XOM) was raised to Neutral from Sell with a $76 price target at UBS. Exxon closed up 0.8% at $77.18 on Tuesday and was indicated up 0.5% at $77.60 on Wednesday, in a 52-week range of $76.05 to $93.22. Its consensus price target was closer to $82.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) was raised to Overweight from Equal Weight at Barclays. The American depositary shares closed down 2.1% at $15.53 on Tuesday and were indicated up almost 5% at $16.30 in early Wednesday trading. Deutsche Bank had just been positive on FCA earlier in the week.
Hewlett Packard Enterprise Co. (NYSE: HPE) was downgraded to Underperform from Neutral at Merrill Lynch. It was kept at Sector Perform at RBC, but the price target was cut to $15 from $20. The firm said the results were better than what was feared but worse than what was hoped for. HPE was maintained as Outperform at Oppenheimer, and Jefferies maintained its Buy rating but cut its target to $17.50 from $22.00. Shares were down 1.9% at $14.04 on Tuesday, in a 52-week range of $11.99 to $14.86. They were indicated up 0.2% at $14.43 on Wednesday.
IAMGOLD Corp. (NYSE: IAG) reported on Tuesday that its significant gold discovery at its Saramacca project exceeded its initial targets. The stock was raised to Outperform from Neutral at CIBC World Markets. Its shares rose 3.3% to $6.93 on Tuesday and were indicated up 1% at $7.00 on Wednesday.
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Other key analyst calls were seen in the following: