Top Analyst Upgrades and Downgrades: CarMax, DowDuPont, Gilead, GrubHub, Microsoft, Nike, Western Digital and More

Stocks were indicated to open higher on Thursday after small gains on Wednesday, and all major equity indexes remain at or close to all-time highs. The dominating trend of this more than eight year bull market is that investors keep managing to find 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 Thursday, October 5, 2017.

CarMax Inc. (NYSE: KMX) was downgraded to Perform from Outperform at Oppenheimer, with the firm noting that it was stepping to the sidelines in the story for now. Shares closed at $76.45 on Wednesday and were down 1.5% at $75.30 on Thursday. CarMax also has a consensus analyst target price of $76.87 and has a 52-week trading range of $47.50 to $77.64.

DowDuPont Inc. (NYSE: DWDP) was started with a Buy rating and assigned an $80 price target at Deutsche Bank. The stock closed at $70.45 a share, and it has a consensus target price of $77.90.

Gilead Sciences Inc. (NASDAQ: GILD) was started with a Perform rating at Oppenheimer, noting that the “Supertanker hasn’t yet accelerated” in its note. Argus reaffirmed its Buy rating and its $100 target on Gilead. The firm noted that its concerned about increased competition in the hep-C market, but it thinks patient volumes may decline less than previously projected in 2017 and may even increase in 2018 due to increased screening and heightened awareness of new treatments. Gilead has a 52-week range of $63.76 to $86.27 and a consensus target price of $82.67.

GrubHub Inc. (NYSE: GRUB) was downgraded to Neutral from Buy with a $56 price target (versus a $54.10 prior close) at Citigroup. It has a consensus target price of $55.10 and a 52-week range of $32.43 to $57.61.

Microsoft Corp. (NASDAQ: MSFT) was raised to Buy from Hold with an $86 price target (versus a $74.69 close) at Canaccord Genuity. Microsoft has a 52-week range of $56.32 to $75.97 and a consensus price target of $80.70.

Nike Inc. (NYSE: NKE) was started with a Hold rating and assigned a $56 price target (versus a $52.08 close) at Pivotal Research. This was a somewhat industrywide cautious apparel/footwear call from the firm. Nike’s 52-week range is $49.01 to $60.53, and the consensus analyst target is $59.04.

Western Digital Corp. (NASDAQ: WDC) was downgraded to Hold from Buy with an $80 price target (versus an $84.35 close) at Deutsche Bank. The stock has a 52-week range of $52.10 to $95.77 and a consensus price target of $115.76.

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Other top analyst calls were seen as follows:

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