Top Analyst Upgrades and Downgrades: Abbott Labs, Delphi, Lululemon, Netflix, Nordstrom, Sirius XM, Disney, Windstream and More
Stocks hit all-time highs many times during 2017, and the first day of 2018 was looking to have a strong open. With the raging bull market now nearing nine years old, the Dow was up 25% and the S&P 500 was up over 19% in 2017. Investors now have to decide how they want to be positioned in 2018 with rising short-term interest rates and what is expected to be accelerated growth on the heels of tax reform. Those same investors are also hunting for new investing and trading ideas to generate gains and income into 2018 and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for investors and traders alike. Some daily analyst reports and research reports cover stocks to buy. Others cover stocks to sell or to avoid.
Additional color and commentary has been added on most of these daily analyst calls. Consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Tuesday, January 2, 2017.
Abbott Laboratories (NYSE: ABT) was raised to Overweight from Neutral and the price target was raised to $65 from $60 at JPMorgan, citing solid fundamentals and organic growth and new product launches. Morgan Stanley raised it to Overweight from Neutral and the price target was raised to $67 from $60, citing a device pipeline bringing accelerated growth along with deal synergies driving earnings. Abbott has a 52-week trading range of $38.34 to $57.77 and has a consensus analyst price target of $61.88.
Delphi Technologies PLC (NYSE: DLPH) was started as Outperform and assigned a $73 price target at BMO Capital Markets. Shares closed at $52.47 on Friday, and the consensus price target is $59.54.
Lululemon Athletica Inc. (NASDAQ: LULU) was downgraded to Neutral from Buy with an $88 price target (versus a $78.59 prior close) at Citigroup. Meanwhile, Telsey Advisory raised its target to $92 from $84. Lululemon has a 52-week range of $47.26 to $80.10 and a consensus price target of $75.68.
Netflix Inc. (NASDAQ: NFLX) was raised to Outperform from Neutral and the price target was raised to $220 from $200 at Macquarie. This is a broad realignment of media coverage citing gains ahead for Netflix. The 52-week range is $124.31 to $204.38, and the consensus price target is $215.03.
Nordstrom Inc. (NYSE: JWN) was raised to Neutral from Underweight at JPMorgan and the price target was raised to $50 from $33 at JPMorgan. Citigroup raised its target to $51 from $43 on Nordstom. The stock closed at $47.38 last Friday, and it has a 52-week range of $37.79 to $50.32 and a consensus price target of $42.89.
Sirius XM Holdings (NASDAQ: SIRI) was downgraded to Underweight from Neutral with a $5 price target (versus a $5.36 close) at JPMorgan. The 52-week range is $4.40 to $5.89, and the consensus price target is $5.82.
Walt Disney Co. (NYSE: DIS) was raised to Outperform from Neutral and the price target was raised to $125 from $112 (versus a $107.51 close) at Macquarie. The call is bolstered by its capability for distribution ahead in a broad media realigment. Disney has a 52-week range of $96.20 to $116.10 and a consensus analyst target of $112.11.
Windstream Holdings Inc. (NASDAQ: WIN) was downgraded to Underweight from Neutral at JPMorgan. It was indicated down 2.7% at $1.80 on Tuesday, after closing down 1.6% at $1.85 on Friday, and it has a 52-week range of $1.73 to $8.35 and a consensus price target of $2.49.
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Other top analyst calls were seen as follows: