Top Analyst Upgrades and Downgrades: Albermarle, Anadarko, Costco, Cree, Kraft Heinz, Netflix, Valero, Disney and More
Abbott Laboratories (NYSE: ABT) was started with a Neutral rating and assigned a $60 price (versus a $54.92 close) at JPMorgan. While this is a Neutral rating, this call’s 9.25% implied upside (not including the 2% dividend yield) is still within some of the Buy and Outperform rating thresholds out there for new coverage of large cap stocks. Abbott has a 52-week range of $37.38 to $55.11, and it has a consensus target price of $55.76.
Alarm.com Holdings Inc. (NASDAQ: ALRM) was started with a Hold rating and assigned a $43 price target (versus a $47.03 close) at Jefferies. The firm thinks it is a leader in home automation and security and is well positioned for the connected home trends ahead, but it also believes that its growth and leadership are fully reflected in the price.
Caesars Entertainment Corp. (NASDAQ: CZR) was started as Neutral at Instinet with a $14 price target (versus a $13.10 close).
Hain Celestial Group Inc. (NASDAQ: HAIN) was started with a Market Perform rating and assigned a $45 price target (versus a $42.35 close) at Sanford Bernstein.
Harley-Davidson Inc. (NYSE: HOG) was maintained Neutral with a $45 price target (versus a drop of 4% to close at $46.85 on Thursday) at Wedbush, noting that there are a number of moving parts that makeup an always-dynamic third quarter but its retail sales continue to languish. Harley’s 52-week range is $45.53 to $63.40, and it has a $50.62 consensus price target.
HollyFrontier Corp. (NYSE: HFC) was downgraded to Underweight from Neutral with a $34 price target (versus a $35.85 close) at JPMorgan.
Keane Group Inc. (NYSE: FRAC) was started as Underweight with a $16 price target (versus a $17.19 close) at Barclays.
La Quinta Holdings Inc. (NYSE: LQ) was raised to Outperform from Market Perform at Wells Fargo.
Microchip Technology Inc. (NASDAQ: MCHP) was started as Buy and assigned a $106 price target (versus a $91.30 close) at Argus.
NICE Ltd. (NYSE: NICE) was started as Hold with an $84 target price (versus an $81.33 close) at Jefferies. The firm feels that NICE is well positioned to capitalize on disruptive trends but the base scenario reflects decelerating revenue growth for organic NICE revenues and inContact revenues.
OGE Energy Corp. (NYSE: OGE) was downgraded to Market Perform from Outperform at Wells Fargo. At $36.32, it has a 52-week range of $29.57 to $37.41 and a consensus target price was $37.25.
Saratoga Investment Corp. (NYSE: SAR) was started with a Neutral rating and $21.50 Fair Value Estimate (versus a $21.55 close) at Janney.
Triumph Bancorp (NYSE: TBK) was downgraded to Neutral from Overweight at Piper Jaffray.
Walgreens Boots Alliance Inc. (NASDAQ: WBA) was downgraded to Equal Weight from Overweight at Morgan Stanley. Its shares closed up 1.5% at $76.95 on Thursday and were indicated to open up almost 7% higher at $82.19
Xylem Inc. (NYSE: XYL) was reiterated as Buy and the price target was raised to $70 from $63 at Janney, noting upward revisions due to positive impacts from the hurricanes and due to favorable forex changes.
Thursday’s top analyst upgrades and downgrades included CarMax, DowDuPont, Gilead Sciences, GrubHub, Microsoft, Nike, Western Digital and many more.