Top Analyst Upgrades and Downgrades: Biogen, Electronic Arts, Gap, Intuit, J&J, 3M, Intercept, AutoZone and More
Activision Blizzard Inc. (NASDAQ: ATVI) was started with a Buy rating and assigned a $79 price target (versus a $64.31 close) at Buckingham Research.
AutoZone Inc. (NYSE: AZO) was maintained as Sector Perform and the price target was cut to $571 from $577 at RBC Capital Markets. Jefferies maintained its Hold rating and $615 price target. AutoZone shares closed down 5% at $535.19 on Monday after an earnings beat was viewed with caution.
Epizyme Inc. (NASDAQ: EPZM) was started as Buy with a $23 price target (versus a $19.25 close) at Jefferies.
Hibbett Sports Inc. (NASDAQ: HIBB) was raised to Positive from Neutral at Susquehanna.
Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) was reiterated as Buy with a $275 price target (versus $a 96.20 close) at Jefferies. The firm sees a recent pullback having created a buying opportunity as the street’s reaction was overblown and is likely to subside going into big NASH data coming in the months ahead. A similar call was made by RBC last week.
International Game Technology PLC (NYSE: IGT) was raised to Buy from Neutral with a $30 price objective (versus a $22.45 close) at Merrill Lynch.
Signature Bank (NASDAQ: SBNY) was downgraded to Neutral from Outperform at Wedbush Securities, noting that a flat yield curve could pressure margins through 2018.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) was started as Buy with a $120 price target (versus a $102.38 close) at Buckingham Research.
TransDigm Group Inc. (NYSE: TDG) was downgraded to Hold from Buy and the price target was cut to $280 from $322 (versus a $265.20 close) at Jefferies. The firm believes that TransDigm is now at the completion of one its significant capital deployment cycles.
JPMorgan made several other industrial calls outside of 3M: Ingersoll-Rand PLC (NYSE: IR) cut to Neutral from Overweight, Roper Technologies Inc. (NYSE: ROP) raised to Overweight from Neutral and Dover Corp. (NYSE: DOV) raised to Overweight from Neutral.
Barclays started other apparel makers with new ratings: Ralph Lauren Corp. (NYSE: RL) at Underweight with an $84 target; Michael Kors Holdings Ltd. (NYSE: KORS) at Equal Weight and $44 target; Hanesbrands Inc. (NYSE: HBI) at Overweight with a $31 target; Coach Inc. (NYSE: COH) at Equal Weight with a $45 target; G-III Apparel Group Ltd. (NASDAQ: GIII) at Underweight with a $28 target; L Brands Inc. (NYSE: LB) at Equal Weight with a $41 target; and PVH Corp. (NYSE: PVH) at Overweight with a $147 target.
Raymond James has made three airline calls on Wednesday: American Airlines Group Inc. (NASDAQ: AAL) raised Outperform, Southwest Airlines Co. (NYSE: LUV) raised to Outperform and United Continental Holdings Inc. (NYSE: UAL) downgraded to Market Perform.
Tuesday’s top analyst calls included Apple, Chesapeake Energy, DowDuPont, Equifax, Gap, Nike, Tesla, Under Armour and many more companies.