Investing

Top Analyst Upgrades and Downgrades: AbbVie, American Water, Carnival, Cisco, Darden, DexCom, Micron, Nike, Occidental Petroleum and More

Cisco Systems Inc. (NASDAQ: CSCO) was already rated as Buy at Goldman Sachs, but the firm added it to the prized Conviction Buy list and raised its target price to $54 from $51 (versus a $43.07 close).

Darden Restaurants Inc. (NYSE: DRI) was down 7.9% at $85.94 on Thursday, but its shares were indicated up 1% at $86.84. The prior consensus target price was $101.23, and at least three targets were cut: Barclays to $105 from $116, Deutsche Bank to $96 from $99 and Morgan Stanley to $90 from $97.

DexCom Inc. (NASDAQ: DXCM) was raised to Outperform from Neutral with a $78 price target (versus a $66.74 close) at Robert W. Baird.

General Mills Inc. (NYSE: GIS) was raised to Positive from Neutral with a $53 price target (versus a $44.45 close) at Susquehanna. General Mills closed down 2.3% on Thursday after six analysts trimmed their price targets.

KB Home (NYSE: KBH) was raised to Outperform from Market Perform with a $35 price target (versus a $28.84 close) at Wells Fargo.

Laboratory Corp. of America Holdings (NYSE: LH) was started as Buy with a $202 target price at Argus. Shares closed down 2.3% at $165.70, and the stock has a 52-week range of $134.19 to $181.72.

Micron Technology Inc. (NASDAQ: MU) was down 3.5% at $58.92 ahead of earnings and its shares were indicated down 2.5% more at $57.64 on Friday morning as earnings were deemed good but not good enough after a huge rally. Citigroup downgraded it to Neutral from Buy. Cowen reiterated its Outperform rating and raised its target price to $65 from $55.

Neogen Corp. (NASDAQ: NEOG) was maintained as Neutral but the fair value estimate was raised to $70 from $60 (versus a $62.53 close) at Janney.

Nike Inc. (NYSE: NKE) was down 2.9% at $64.42 ahead of earnings and was last seen trading up 4.2% at $67.21 after earnings. Credit Suisse maintained its Outperform rating and $78 price target, but the firm trimmed earnings estimates for 2019 and 2020. Wedbush raised its price target to $75 from $74, and Raymond James raised its target to $75 from $67. Jefferies raised its Nike target to $68 from $59.

NiSource Inc. (NYSE: NI) was raised to Buy from Neutral with a $25 price target (versus a $23.39 close) at Merrill Lynch.

Occidental Petroleum Corp. (NYSE: OXY) was raised to Buy from Hold with an $84 price target (versus a $65.18 close) at Deutsche Bank. The shares have a 52-week range of $57.20 to $78.09, and it has a consensus target price of $77.77.

Omeros Corp. (NASDAQ: OMER) was downgraded to Neutral from Outperform at Wedbush Securities. The firm’s $19 price target is after a 35% gain to $15.75 on Thursday, but the prior target was all the way up at $47. The firm views Omidria sales as a nondilutive means to fund development of OMS721 and cover other operating expenses, but the loss of pass-through reimbursement at the end of 2017 resulted in Omidria sales no longer being able to fund the company.

Tandem Diabetes Care Inc. (NASDAQ: TNDM) was raised to Outperform from Neutral with a $7 price target (versus a $3.79 close) at Robert W. Baird. Tandem shares were up 2.4% on Thursday and the shares were indicated up 11% at $4.21 on Friday morning.

Tenet Healthcare Corp. (NYSE: THC) was started with a Buy rating and assigned a $29 price target (versus a $24.07 close) at Mizuho. The shares have a 52-week range of $12.25 to $25.24.

Unilever PLC (NYSE: UL) was raised to Buy from Hold with a target price of $60 (versus a $52.57 close) at Argus.

Thursday’s top analyst calls included Booking Holdings, Borg Warner, Delphi Technologies, Pandora Media, Ralph Lauren, Southwest Airlines and many more.