Top Analyst Upgrades and Downgrades: Freeport-McMoran, Gilead, FuelCell, Oracle, Take-Two, Tesla, Waste Management and More
Stocks were indicated to open lower on Wednesday, but this is on the heels of having hit all-time highs into and right after the start of the fourth quarter. The one trend that keeps on trucking in this more than eight year bull market is that investors have managed to keep finding new reasons to buy stocks after every market sell-off. Those same investors are also on the hunt for new investing and trading ideas with their capital.
24/7 Wall St. reviews dozens of analyst research reports each day. Our goal is to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other calls cover stocks to sell or to avoid.
The consensus analyst price target data and valuation metrics are from the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of these daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Wednesday, October 4, 2017.
Freeport-McMoRan Inc. (NYSE: FCX) was maintained as Buy but the target price was cut to $19 from $23 (versus a $14.34 prior close) at Jefferies. The firm is concerned that negotiations between FCX and Indonesia regarding the sale of a majority stake in PT-FI to locals have become more contentious.
Gilead Sciences Inc. (NASDAQ: GILD) was reinstated with a Hold rating and was given a $93 target price (versus an $83.19 close) at Jefferies. Still, the firm has a fundamental positive and underlying view that KITE Axi-cel sales will get off to a good start and build some momentum while investors wait to see how HCV volumes and prices settle out in the second half of this year.
FuelCell Energy Inc. (NASDAQ: FCEL) was started with an Outperform rating and assigned a $4 price target (versus a $1.89 close) at Oppenheimer. It was indicated up almost 6% at $2.00 after the call, and the stock has a 52-week range of $0.80 to $5.67 and a consensus analyst price target of $2.70. More detail is now available on this call.
Oracle Corp. (NYSE: ORCL) was started with an Overweight rating and assigned a $55 price target (versus a $48.69 close) at Piper Jaffray. Oracle has a 52-week range of $37.62 to $53.14 and a consensus price target of $56.52.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) was started as Overweight with a $115 price target (versus a $101.07 close) at Barclays. The consensus target price is $99.94, and the 52-week range is $41.70 to $103.73.
Tesla Inc. (NASDAQ: TSLA) was started with a Buy rating and assigned a $500 price target at Nomura, which is above the prior street-high analyst target price of $464 and compares to a prior closing price of $348.14. Tesla has a 52-week range of $178.19 to $389.61, and it previously had a consensus price target of $318.63.
Waste Management Inc. (NYSE: WM) was downgraded to Hold from Buy at Stifel. the shares closed up 0.6% at $79.28 on Tuesday and were indicated to open down 0.5% at $78.90 on Wednesday. The stock has a 52-week range of $61.08 to $79.28 and a consensus target price of $79.60.
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Other top analyst calls were seen as follows: