Investing

Top Analyst Upgrades and Downgrades: Agnico Eagle Mines, Ford, Marathon Petroleum, Roku, Spotify, Quest Diagnostics and More

Lee Jackson

Published: May 29, 2018 8:55 am

Last Updated: January 11, 2020 11:04 pm

The futures traded lower this Tuesday morning as investors start the holiday-shortened trading week with continued concerns over trade and additional overseas issues, including growing political instability in Italy. While the geopolitical issues have continued to dominate the headlines, all eyes this week will be focused on Friday, when the nonfarm payroll numbers for May are due to be released.

Some investors have reconsidered what the nine-year bull market may bring in 2018 and beyond. It has become clear that the multiyear trend of buying pullbacks is now more vulnerable to sellers, volatility and each major news headline. Many investors are finding it harder to decide how they want their assets positioned for the longer term.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing ideas and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls cover stocks to sell or stocks to avoid.

Additional color and commentary have been added on some of these daily analyst calls. The consensus analyst price target data are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, May 29, 2018.

Agnico Eagle Mines Ltd. (NYSE: AEM) was raised to Outperform from Market Perform at BMO Capital. The 52-week trading range for the gold mining giant is $37.35 to $51.86. The Wall Street consensus price target is $52.58. The stock closed trading last Friday at $43.92.

Ford Motor Co. (NYSE: F) was raised to Buy from Hold at Jefferies. The 52-week trading range for the iconic U.S. automaker is $10.14 to $13.48, and the consensus price target is $12.28. The shares closed Friday at $11.51.

Infinera Corp. (NASDAQ: INFN) was downgraded to Underperform from Hold at Jefferies. The 52-week trading range is $6.10 to $12.39 and the consensus price objective is set at $11.82. The stock closed Friday at $10.07, but shares were off over 4% in premarket action.

Marathon Petroleum Inc. (NYSE: MPC) was raised to Outperform from Market Perform at Wells Fargo. The 52-week trading range for the refining giant is $49.30 to $83.27. The consensus price objective is set at $90.38, and shares closed Friday at $77.

Nanometrics Inc. (NASDAQ: NANO) was downgraded to Hold from Buy at Stifel, but the firm raised its price objective to $40 from $35. The analysts noted that the call is primarily a valuation one, and not reflective of any company-specific or industry fundamentals change. The consensus price objective is $35.33. The stock closed Friday at $38.67.

PetroChina Co. Ltd. (NYSE: PTR) is raised to Outperform from Market Perform at Bernstein. The 52-week trading range is $60.69 to $82.69. The consensus price target is $82.88, and the stock closed Friday at $79.96.

Roku Inc. (NASDAQ: ROKU) is raised to Equal Weight from Underweight at Morgan Stanley. The 52-week trading range is $15.75 to $58.80, and the consensus price target is $38.25. The stock closed trading last Friday at $38.54.

Spotify Technology S.A. (NASDAQ: SPOT) was started with a Buy rating and a $200 price target at Pivotal Research. The 52-week trading range is $135.51 to $171.54. The consensus price target is posted at $152.88. The stock closed Friday at $156.60.

Xcerra Corp. (NASDAQ: XCRA) was downgraded to Hold from Buy at Stifel, but the analysts raised the price target to $14 from $13. That compares with the consensus target of $14.20. The stock has traded in a 52-week range of $9.20 to $14.17 and closed last Friday at $13.86.

Other key analysts upgrades and downgrades were seen in the following.

Axon Enterprises Inc. (NASDAQ: AAXN) was started with an Outperform rating at William Blair. The 52-week trading range for the shares is $20.57 to $63.50. The consensus price target is $49.17, but shares closed way above that level on Friday at $63.01.

Cogent Communications Holdings Inc. (NASDAQ: CCOI) was downgraded to Sector Perform from Outperform at RBC Capital Markets. Its 52-week trading range is $36.75 to $54.85. The consensus price target is set at $46.47, and the stock closed last Friday at $50.05.

Inspire Medical Systems Inc. (NYSE: INSP) was started with an Outperform rating at Wells Fargo. The consensus price target has not been set as this company was a new IPO that started trading in early May. The stock closed Friday at $30.61, in a post-IPO range of $22.50 to $43.40.

Novartis A.G. (NYSE: NVS) was downgraded to Hold from Buy at HSBC Securities. The 52-week range is $75.73 to $94.19, and the consensus price objective is $88.16. The shares closed Friday at $76.10.

PermRock Royalty Trust L.P. (NYSE: PRT) was started with a Buy rating at UBS. This recent IPO started trading in early May. Stifel also initiated the shares at Buy and a $17 price target. The stock has traded in a range of $14.78 to $16.69 since the deal priced. The shares closed last Friday at $15.60.

Quest Diagnostics Inc. (NYSE: DGX) is raised to Overweight from Equal Weight at Morgan Stanley. The 52-week range is $98.93 to $107.84. The consensus price target is $110.80. Shares closed trading last Friday at $105.81.

24/7 Wall St.
Companies With the Best and Worst Reputations

Rambus Inc. (NASDAQ: RMBS) was started with a Neutral rating and a $16 price target at Credit Suisse. That compares with the Wall Street target of $16.90. The 52-week trading range is $11.30 to $15.50, and the stock closed trading on Friday at $13.55.

Sun Life Financial Inc. (NYSE: SLF) was downgraded to Neutral from Buy at CIBC. The 52-week trading range is $32.22 to $44.50., and the posted consensus price target is $45.65. With the stock closing Friday at $42.43, this could be a valuation call.

TCF Financial Corp. (NYSE: TCF) is raised to Outperform from Market Perform at Raymond James. The 52-week trading range is $14.58 to $26.77. The consensus price target is $25.73, and shares closed Friday at $26.41.

In case you missed it, last Friday’s top analyst upgrades and downgrades included Starbucks, Splunk, PayPal, L Brands, Medtronic, Gap, Novartis and more.