Top Analyst Upgrades and Downgrades: GrubHub, Kroger, Newell Brands, Seagate, Snap, Sony, WEX, FireEye and More
Stocks were indicated to open sharply higher on Monday, with Hurricane Irma having drifted westward in Florida just enough to cause far less financial damage than what had been expected on Thursday and Friday. There was also no major negative news from North Korea over the weekend.
Investors have to keep in mind that the major stock indexes still remain close to all-time highs. Another issue that cannot be ignored is that investors have kept managing to find new reasons to buy stocks after every sell-off, a trend that is over five years old in this eight-and-a-half-year bull market. Many of those same 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 to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy, while some calls 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 Monday, September 11, 2017.
GrubHub Inc. (NYSE: GRUB) was downgraded to Neutral from Outperform but its price target was raised to $53 from $50 (versus a $56.08 prior close) at Credit Suisse. The firm feels the street is too optimistic on risk-reward on recent acquisitions. GrubHub has a 52-week trading range of $32.43 to $57.61 and a consensus analyst target price of $52.89.
Kroger Co. (NYSE: KR) was downgraded to Hold from Buy and the price target was cut to $21 from $26 (versus a $21.06 close) at Deutsche Bank. Kroger has a 52-week range of $20.41 to $36.44 and a consensus target price of $25.23. Kroger’s drop was 7.5% on Friday, and it was indicated down another 1% at $20.85 on Monday morning.
Newell Brands Inc. (NYSE: NWL) was downgraded to Hold from Buy and the price target was cut to $49 from $63 (versus a $44.04 close) at Jefferies. It has a 52-week range of $43.43 to $55.08 and a consensus analyst target of $57.81. Jefferies noted that the valuation is low, but visibility is low after another lower guide, and Newell also needs more reinvestment at a time that the cascade of negative revisions is worrisome.
Seagate Technology PLC (NASDAQ: STX) was downgraded to Hold from Buy with a $29 price target (versus a $31.99 close) at Jefferies. The consensus target price is $38.48, and the 52-week range is $30.60 to $50.96. Seagate’s drop was 1.1% on Friday, and its shares were indicated down another 2.25% at $31.27 on Monday.
Snap Inc. (NYSE: SNAP) was downgraded to Hold from Buy and the price target was cut to $17 from $20 (versus a $15.34 close) at Deutsche Bank. Snap has a 52-week range of $11.28 to $29.44, and it had a consensus target price of $14.78.
Sony Corp. (NYSE: SNE) was downgraded to Neutral from Buy at Citigroup. Sony’s American depositary shares were up 1.3% to $39.93 on Friday and were indicated up 1.7% at $40.60 on Monday, in a 52-week range of $27.72 to $41.65. The consensus price target is almost $47.
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Other top analyst calls were seen in the following companies: