Top Analyst Upgrades and Downgrades: Amazon, Applied Materials, Avon, CarMax, Micron, Square, Whiting Petroleum and More

September 13, 2017 by Jon C. Ogg

Stocks were indicated to open lower on Wednesday, but this is on the heels of two days of solid gains. Investors should keep in mind that the major stock indexes still remain close to all-time highs, with the Dow over 22,100 and the S&P 500 close to 2,500. Another issue that cannot be ignored is that investors have kept finding new reasons to buy stocks after every sell-off. Many 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, reiterations and other research calls from Wednesday, September 13, 2017.

Amazon.com Inc. (NASDAQ: AMZN) was started with a Buy rating and assigned a $1,200 price target (versus a $977.96 prior close) at Loop Capital. Amazon has a 52-week trading range of $710.10 to $1,083.31 and a consensus analyst price target of $1,147.28.

Applied Materials Inc. (NASDAQ: AMAT) was raised to Buy from Neutral at Goldman Sachs. It has a 52-week range of $27.56 to $47.86 and a consensus price target of $55.02. Shares of Applied Materials were last seen up 1.3% at $46.25 on Wednesday.

Avon Products Inc. (NYSE: AVP) was started with an Underperform rating and given a $2.20 price target (versus a $2.58 close) at Jefferies. Avon shares were indicated down 1.1% at $2.55 on Wednesday, in a 52-week range of $2.40 to $6.96 and with a consensus price target of $3.92.

CarMax Inc. (NYSE: KMX) was reiterated as Outperform with a $77 price target (versus a $68.50 close) at Wedbush Securities. The firm noted that hurricane demand is a boost and that CarMax will have a better price environment ahead. CarMax has a 52-week range of $47.50 to $69.52.

Micron Technology Inc. (NASDAQ: MU) was raised to Buy from Neutral and the price target was raised to $40 from $33 (versus a $34.29 close) at Goldman Sachs. The 52-week range is $16.17 to $34.54, and the consensus price target is $43.72. Shares of Micron were indicated up 1.2% at $34.70 on Wednesday after the upgrade, and that would mark the highest stock price going back to the prior top of $35 or so back in November 2014.

Square Inc. (NYSE: SQ) was started with an Overweight rating and assigned a $31 price target (versus a $27.27 close) at Cantor Fitzgerald. Square has a 52-week range of $10.88 to $27.97 and a consensus price target of $28.00

Whiting Petroleum Corp. (NYSE: WLL) is still planning on a reverse stock split. Whiting was downgraded to Underweight from Equal Weight with a $3.50 price target (versus a $4.44 close) at Morgan Stanley. It has a 52-week range of $3.97 to $13.39 and a consensus price target of $7.83. The shares were indicated lower by about 1% at $4.40 on Wednesday.

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Other key analyst calls were seen in the following:

Adamis Pharmaceuticals Corp. (NASDAQ: ADMP) was started as Outperform with a $7 price target at Raymond James. Adamis closed down 1.8% at $5.40 on Tuesday but was indicated up 5.4% at $5.69 on Wednesday, in a 52-week range of $2.40 to $6.45.

Build-A-Bear Workshop Inc. (NYSE: BBW) was started with a Buy rating and assigned a $12 price target (versus an $8.85 close) at Jefferies.

Catalen Inc. (NYSE: CTLT) was started with a Hold rating and assigned a $42 price target (versus a $40.79 close) at Needham.

Comcast Corp. (NASDAQ: CMCSA) was maintained as Buy with a $48 price target (versus a $37.90 close) at Argus, despite the news that Comcast management expects to lose between 100,000 and 150,000 video subscribers in the third quarter of 2017. The 52-week trading range is $30.02 to $42.18.

EOG Resources Inc. (NYSE: EOG) was raised to Overweight from Equal Weight with a $106 price target (versus an $88.47 close) at Morgan Stanley. It was indicated up 1.1% at $89.51 on Wednesday.

Finish Line Inc. (NASDAQ: FINL) was raised to Positive from Neutral with a $12 price target (versus a $9.74 close) at Susquehanna. Finish Line has a 52-week range of $6.90 to $24.50.

Hain Celestial Group Inc. (NASDAQ: HAIN) was reiterated as Hold at Argus. Last seen at $40.29, Hain Celestial has a 52-week range of $31.01 to $45.61.

Illumina Inc. (NASDAQ: ILMN) was reiterated as Buy and the target price was raised to $235 from $205 (versus a $213.93 close) at Argus. The raised target is as NovaSeq demand takes hold and is only at the start of a demand cycle.

KLA-Tencor Corp. (NASDAQ: KLAC) was downgraded to Neutral from Buy at Goldman Sachs. Shares closed up 0.8% at $97.95 on Tuesday and were indicated down 1.8% at $96.14 on Wednesday.

Mallinckrodt PLC (NYSE: MNK) was downgraded to Neutral from Buy and the price target was slashed to $40 from $70 (versus a $36.45 close) at Mizuho. Mallinckrodt has a 52-week range of $34.51 to $77.25.

Molson Coors Brewing Co. (NYSE: TAP) was started with a Sell rating and assigned a $78 price target (versus an $89.70 close) at Berenberg.

ON Semiconductor Corp. (NASDAQ: ON) was downgraded to Neutral from Buy at Goldman Sachs.

Regis Corp. (NYSE: RGS) was started with a Buy rating and assigned a $15 target price (versus a $12.77 close) at Jefferies.

Revlon Inc. (NYSE: REV) was started with a Hold rating and assigned a $16 price target (versus a $16.85 close) at Jefferies.

Sociedad Química y Minera de Chile S.A. (NYSE: SQM) was raised to Buy from Neutral with a $65 price objective (versus a $52.20 close) at Merrill Lynch. Its American depositary shares were up 2.5% at $53.52 on Wednesday after this call.

Merrill Lynch has issued a call to buy health care, particularly large cap biotech, in its September RIC Report at the cheapest valuations and most underowned sector in years.

Tuesday’s top analyst calls included Alcoa, ADM, Citigroup, Gap, Kroger, Nike, Nucor, Rite Aid, Teva Pharmaceutical, Under Armour and many more.

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