Investing

Top Analyst Upgrades and Downgrades: Bazaarvoice, GM, Home Depot, MGIC, Nike, T-Mobile and More

Aquantia Corp. (NYSE: AQ) was up 0.7% at $11.80 on Monday. It was started with a Buy rating and assigned a $15 price target at Deutsche Bank, and it was started as Overweight at Morgan Stanley with a $15 price target.

Ares Capital Corp. (NASDAQ: ARCC) was started as Outperform with an $18 price target (versus a $16.37 close) at Wedbush Securities. The firm’s investment view and bullish outlook take into consideration Ares’s market leading position, unique drivers of yield growth in addition to industry risks and valuation.

CubeSmart (NYSE: CUBE) was downgraded to Neutral from Outperform with a $29 price target (versus a $29.39 close) at Robert W. Baird.

Devon Energy Corp. (NYSE: DVN) was reiterated as Buy with a $51 target price at Argus with the firm positive after strong third-quarter results.

Essent Group Ltd. (NYSE: ESNT) was started with an Outperform rating and assigned a $52 price target (versus a $44.15 close) at Wells Fargo.

IHS Markit Ltd. (NASDAQ: INFO) was raised to Buy from Hold with a $52 price target (versus a $43.87 close) at SunTrust Robinson Humphrey.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was reiterated as Outperform and the price target was raised to $30 from $22 (versus a $23.38 close) at Credit Suisse.

Mellanox Technologies Ltd. (NASDAQ: MLNX) was raised to Equal Weight from Underweight with a $55 price target (versus a $57.85 close) at Barclays.

Meredith Corp. (NYSE: MDP) was up after its announced its acquisition of Time, and Jefferies raised Meredith to Buy from Hold and raised its price target to $80 from $56 (versus a $67.55 close).

Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Buy and the price target was raised to $72 from $64 (versus a $61.77 close) at Jefferies. The firm did a recent customer survey that points to higher penetration rates with Monster’s recent innovation helping to broaden its consumer base.

PBF Energy Inc. (NYSE: PBF) was downgraded to Sell from Neutral with a $29 price target (versus a $33.12 close) at Goldman Sachs.

Public Storage (NYSE: PSA) was downgraded to Underperform from Neutral with a $205 price target (versus a $214.92 closing price) at Robert W. Baird.

Radian Group Inc. (NYSE: RDN) was started as Market Perform with a $22 price target (versus a $20.64 close) at Wells Fargo.

Synlogic Inc. (NASDAQ: SYBX) was started as Outperform with a $20 price target (versus a $10.04 close) at Wedbush. Its upside thesis is based on two promising assets in or about to enter the clinic and a proprietary drug discovery technology that merges synthetic biology with the microbiome. The firm thinks the platform has the potential to disrupt the current standard of care for a number of disorders.

Tesaro Inc. (NASDAQ: TSRO) was maintained as Buy but the price target was lowered to $154 at Argus. Shares closed down 2.3% at $81.52 on Monday, in a 52-week range of $80.99 to $192.94.

We are starting to see very preliminary 2018 projections for stock market expectations, but these are all subject to change into December and January. Credit Suisse’s Global Equity Strategy 2018 outlook is forecasting roughly a 9% total return (gains plus dividends) for global equities in 2018. It has maintained its Underweight level for U.S. equities but has marginally increased its exposure, and the firm has a 2,875 target for the S&P 500 at the end of 2018. Continental Europe is its top Overweight (Germany, Spain and French midcaps), and Japan was raised to a small Overweight from a Benchmark weighting. In emerging markets, the firm is reducing its Overweight ratings of China and Russia and adding to its Overweight of India. While it sees interest rates rising, Credit Suisse struggles to see U.S. 10-year yields above 3%.

Monday’s top analyst upgrades and downgrades were in shares of AECOM, Ciena, Evoqua Water Tech, Funko, GlaxoSmithKline, Square and many more.