Top Analyst Upgrades and Downgrades: Albermarle, Best Buy, Chipotle, Exact Sciences, Fitbit, Itron, NuVasive, Palo Alto Networks, Stryker and More

February 27, 2018 by Jon C. Ogg

Stocks have recovered much of their losses since the sell-off began at the end of January. That being said, there are still roughly 1,000 points on the Dow and roughly 100 points on the S&P 500 that need to be made up to hit all-time highs again. 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 Tuesday, February 27, 2018.

Albermarle Corp. (NYSE: ALB) took a pounding after Morgan Stanley sounded a warning on lithium prices and demand ahead on Monday, but on Tuesday Berenberg started the shares with a Buy rating and assigned a $150 price target. The stock closed down 7.3% at $110.10 on Monday and was indicated up 0.5% at $110.70 on Tuesday. Its 52-week trading range is $95.74 to $144.99.

Badger Meter Inc. (NYSE: BMI) was downgraded to Sell from Hold and the price target was cut to $42 from $48 at Canaccord Genuity.

Best Buy Co. Inc. (NYSE: BBY) was maintained as Hold at Jefferies, but the firm raised its target price to $74 from $60. Best Buy has a consensus analyst target price of $68.80 and has a 52-week range of $41.67 to $78.59.

Brookdale Senior Living Inc. (NYSE: BKD) was downgraded to Sector Perform from Outperform and the price target was cut to $8 from $13 at RBC Capital Markets.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Outperform and the price target was raised to $400 from $315 at Robert W. Baird. Chipotle closed down 1.2% at $311.89 on Monday and was indicated up 2% at $318.00 on Tuesday. The 52-week range is $247.52 to $499.00.

Clovis Oncology Inc. (NASDAQ: CLVS) was down 2.3% at $55.51 on Monday. Three target price cuts have been seen after its operating results posted. SunTrust Robinson Humphrey cut its target to $85 from $95, Stifel cut its target to $110 from $125, and Barclays cut its target to $85 from $105.

Commerce Bancshares Inc. (NASDAQ: CBSH) was raised to Market Perform from Underperform and the price target was raised to $60 from $54 at Keefe Bruyette & Woods.

Exact Sciences Corp. (NASDAQ: EXAS) was raised to Outperform from Neutral with a $56 price target (versus a $42.56 close) at Robert W. Baird.

Exelixis Inc. (NASDAQ: EXEL) was raised to Outperform from Perform with $40 price target (versus a $29.53 close) at Oppenheimer.

Fitbit Inc. (NYSE: FIT) was up almost 5% at $5.54 ahead of earnings but was last seen down 12% at $4.85 after the earnings report. Fitbit saw its target cut to $5 from $6 by Morgan Stanley. Wedbush Securities maintained its Neutral rating and lowered its target to $6.00 from $6.50.

FTS International Inc. (NYSE: FTSI) has seen its upsized $18 IPO quiet period end and analysts are now free to cover the stock. It was started as Buy with a $35 target at Guggenheim, as Outperform with a $34 target at Wells Fargo and as Outperform with a $27 target at both Evercore ISI and at Cowen. FTS International was also started as Overweight with a $30 price target at Barclays.

Itron Inc. (NASDAQ: ITRI) was raised to Buy from Hold and the price target was raised to $84 from $78 at Canaccord Genuity.

NuVasive Inc. (NASDAQ: NUVA) met earnings expectations on Monday and shares closed at $48.23. Multiple price target cuts were seen despite Buy and Outperform ratings remaining: Barclays to $62 from $66, Canaccord Genuity to $73 from $81, Jefferies to $60 from $78, Needham to $70 from $71 and JPMorgan to $60 from $78.

Palo Alto Networks Inc. (NYSE: PANW) was up 2.3% at $169.32 ahead of earnings and was last seen up another 5.5% at $179.00 after the reaction. It was reiterated as Outperform and the price target was raised to $200 from $180 at Oppenheimer. Palo Alto was reiterated as Positive and the price target was raised to $197 from $195 at Susquehanna. JPMorgan reiterated its Overweight rating and raised its target to $220 from $182, and Morgan Stanley raised its target to $205 from $190.

Stryker Corp. (NYSE: SYK) was raised to Neutral from Sell with a $166 price target (versus a $165.77 close) at Citigroup.

Tandem Diabetes Care Inc. (NASDAQ: TNDM) was started as Outperform with a $5.50 price target (versus a $3.10 close) at Oppenheimer

2U Inc. (NASDAQ: TWOU) was reiterated as Outperform and the price target was raised to $91 from $77 at Oppenheimer. 2U was reiterated as Outperform and the price target was raised to $87 from $74 at BMO Capital Markets.

Monday’s top analyst calls included Baker Hughes, BP, Duke Energy, Finish Line, HP, Schlumberger, UPS and Workday and many more.

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