Top Analyst Upgrades and Downgrades: DocuSign, Embraer, Goodyear Tire, Macy's, Micron, Raytheon, Smartsheet and More


Stocks were sharply higher on Monday after trade tensions with China seem to be coming to quicker end, and the major equity indices were indicated higher on Tuesday as well. The trend of buying the dips has not worked as well as it has in prior years, and many investors have been considering how they want their investments positioned for the longer term.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy and some cover stocks to sell or avoid.

Additional color and commentary have been added on most of the daily analyst reports. The 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, May 22, 2018.

DocuSign Inc. (NASDAQ: DOCU) has seen its post-IPO quiet period come to an end. Shares closed down 4% at $42.98 on Monday. Its IPO from late in April was priced at $29, and its post-IPO trading range has been $37.00 to $46.70. The following analyst calls have been seen:

  • Deutsche Bank started DocuSign with a Hold rating.
  • JMP Securities started it at Market Perform.
  • JPMorgan started it as Overweight.
  • Morgan Stanley started it at Equal Weight.
  • Piper Jaffray started it as Overweight.

Embraer S.A. (NYSE: ERJ) was downgraded to Hold from Buy at Drexel Hamilton.

Fiat Chrysler Automobile N.V. (NYSE: FCAU) was started as Buy at HSBC Securities.

Fifth Third Bancorp (NASDAQ: FITB) was raised to Neutral from Underperform with a $32 target price (versus a $30.90 prior close) at Robert W. Baird. Macquarie raised it to Neutral from Underperform.

Goodyear Tire & Rubber Co. (NYSE: GT) was maintained as Neutral but the price target was cut to $29 from $34 at Citigroup. Shares closed down 0.4% at $26.04 on Monday.

Goosehead Insurance Inc. (NASDAQ: GSHD) was started as Buy and assigned a $19 price objective at Merrill Lynch. Keefe Bruyette & Woods started it as Outperform with a $20 target, while JPMorgan started it as Overweight with a $20 target. The shares were flat at $16.20 on Monday but were indicated up 2.5% at $16.60 in thin premarket trading on Tuesday.

Macy’ Inc. (NYSE: M) was raised to Positive from Neutral with a $43 price target (versus a $34.61 close) at Susquehanna.

Manchester United PLC (NYSE: MANU) was downgraded to Hold from Buy at Deutsche Bank.

Micron Technology Inc. (NASDAQ: MU) was reiterated as Outperform and the price target was raised to $67 from $65 at Cowen, after the chip-giant raised guidance for the quarter ending in May. Stifel reiterated its Buy rating and raised its target to $106 from $101.

Raytheon Co. (NYSE: RTN) was downgraded to Neutral from Outperform with a $219 target price (versus a $213.95 close) at Credit Suisse.

Smartsheet Inc. (NYSE: SMAR) has seen its post-IPO quiet period come to an end as well. Shares closed up 0.7% at $20.03 on Monday, and its IPO price was at $15 per share late in April. These analyst calls have been seen so far:

  • Canaccord Genuity started Smartsheet as Buy.
  • Jefferies started it as Buy.
  • Morgan Stanley started it at Overweight.
  • RBC Capital Markets started it at Outperform.
  • SunTrust Robinson Humphrey started it as a Buy.
  • William Blair started it at Outperform.

Universal Display Corp. (NASDAQ: OLED) was started as Buy with a $136 price target (versus a $96.50 close, after a 2.5% gain) at Roth Capital.

World Wresting Entertainment Inc. (NYSE: WWE) was reiterated as Buy but the price target vaulted higher to $70 from $45 (versus a $57.86 close, after a 12.5% gain) at Needham.

Monday’s top analyst calls were in Applied Materials, Campbell Soup, Ceridien HCM, Dillard’s, Energizer, nLIGHT, Snap, Turtle Beach and many more.

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