Investing

Top Analyst Upgrades and Downgrades: Albermarle, Allergan, Boston Scientific, eBay, FedEx, Gogo, LendingTree, Nokia, UPS, Vertex and More

The stock market has demonstrated that perhaps the return of volatility is real after Wednesday’s big gains suddenly turned into a big loss in the final 30 minutes of trading. Now stocks are indicated just marginally higher after digesting more of the verbiage from the Federal Open Market Committee minutes yesterday. With the bull market approaching nine years old, the trend that has worked without fail for roughly six years has been to buy the dips every time. Investors still have to decide how they want to be positioned for 2018 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for investors and traders alike. Some 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 the daily analyst reports. The consensus analyst price targets 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 Friday, February 23, 2018.

Acacia Communications Inc. (NASDAQ: ACIA) was down almost 4% on Thursday, but the shares were down over 13% at $36.10 on Friday morning after the optical networking sector faced earnings pressure. Needham downgraded Acacia to Hold from Buy, and D.A. Davidson downgraded it to Neutral from Buy with a $38 price target. Acacia has a 52-week trading range of $34.20 to $61.15.

Albemarle Corp. (NYSE: ALB) was reiterated as Buy with a $148 price target (versus a $113.68 prior close) at Argus, with the independent research firm noting a strong outlook for the major lithium producer. The 52-week range is $91.02 to $144.99, and the consensus analyst target price is $144.11.

Allergan PLC (NYSE: AGN) was started as Buy and assigned a $200 price target (versus a $159.40 close) at SunTrust Robinson Humphrey. The firm sees an attractive valuation in Allergan with manageable competition for its Botox. The 52-week range is $156.00 to $256.80, and the consensus target price was $217.95.

Boston Scientific Corp. (NYSE: BSX) was started as Overweight and assigned a $31 price target (versus a $26.48 close) at Piper Jaffray. The 52-week range is $24.02 to $29.93. The consensus target price is $31.60.

CTI BioPharma Corp. (NASDAQ: CTIC) was started with an Outperform rating and assigned a $5 price target (versus a $3.71 close) at Oppenheimer. The firm believes that the primary driver of value is compound pacritinib for treatment of patients with myelofibrosis.

eBay Inc. (NASDAQ: EBAY) was reiterated as Buy and the price target was raised to $50 at Argus, with the independent research firm noting that it has raised earnings expectations and that eBay deserves a higher multiple.

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