Top Analyst Upgrades and Downgrades: ConocoPhillips, Domino’s Pizza, Eli Lilly, Occidental Petroleum, PayPal, Penn National Gaming and More

June 8, 2018 by 247lee

The futures were lower Friday morning as investors look back on one of the best trading weeks the market has had this year. With both the Russell 2000 and the Nasdaq hitting all-time highs this week, there was plenty of bullish optimism to go around. One thing’s for sure, with the volatility index dropping back to under 12 at one point this week, it makes sense to review portfolios and maybe take some profit on big winners to raise cash.

Some investors are reconsidering what the nine-year bull market may bring for the rest of 2018 and beyond. It has become very 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 and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls cover stocks to sell or 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 Friday, June 8, 2018.

Concho Resources Inc. (NYSE: CXO) was downgraded to Market Perform from Outperform at Bernstein. The firm also lowered its price target to $130 from $180. That compares with a Wall Street consensus target price of $185.29. The shares closed trading on Thursday at $130.34.

ConocoPhillips (NYSE: COP) was started with a Neutral rating and a $73 price target at Mizuho. The consensus price target for the oil giant is posted at $74.35. The stock closed trading Thursday at $69.48.

Domino’s Pizza Inc. (NYSE: DPZ) was downgraded to Hold From Buy at Maxim Group. The 52-week trading range for the giant pizza chain is $166.74 to $273.57. The consensus price target is set at $267.56. With the shares closing at $272.04 Thursday, this may be a straight valuation call.

Eli Lilly and Co. (NYSE: LLY) was started with an Overweight rating and a $100 price target at Cantor Fitzgerald. The consensus target is $90.78, and the stock ended trading on Thursday at $85.88.

Occidental Petroleum Corp. (NYSE: OXY) was started with a Buy rating and a $103 price objective at Mizuho. The consensus target for the exploration and production company is $91.52. The shares ended trading Thursday at $86.48.

PayPal Holdings Inc. (NASDAQ: PYPL) saw its price target raised at Wedbush to $100 from $90, and the stock was added to the firm’s Best Ideas List. The 52-week trading range is $50.83 to $68.32, and the consensus price target is $87.05. The shares closed trading on Thursday at $83.27.

Penn National Gaming Inc. (NASDAQ: PENN) was resumed in coverage at JPMorgan and raised to Overweight with a $40 price target. The consensus target is $36.25. The shares closed Thursday at $33.73.

Performance Food Group Co. (NYSE: PFGC) was started with a Hold rating and a $45 price objective at Jefferies. The consensus price target is $38.30, and the stock ended trading on Thursday a $35.20.

Quest Diagnostic Inc. (NYSE: DGX) was raised to Overweight from Market Perform at William Blair. The 52-week trading range for the company is $95.27 to $109.08. The consensus price target is $113.80. The stock closed trading on Thursday at $107.60.

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

Athene Holdings Ltd. (NYSE: ATH) was resumed in coverage with an Equal Weight rating and a $51 price target at Barclays. That compares with the consensus target of $60.69. The shares closed Thursday at $46.

Caleres Inc. (NYSE: CAL) was started with a Hold rating and a $37 price target at Loop Capital. The consensus target is set at $35.35. The shares ended trading on Thursday at $34.87.

Covia Holdings Corp. (NASDAQ: CVIA) was started with a Neutral rating and a $24 price target at Credit Suisse. The consensus target is $35.80. The stock closed Thursday at $24.30.

DexCom Inc. (NASDAQ: DXCM) was raised to Overweight from Neutral at JPMorgan. The 52-week trading range is $42.62 to $95.74, and the consensus price target is set at $84.64. The shares closed Thursday at $89.49, down almost 5% on the day, but traded higher in the premarket action Friday morning.

Huya Inc. (NYSE: HUYA) was started with a Neutral rating with a $32 price target at UBS. The company had a red-hot IPO that priced in May at $12. The shares have traded in a range of $15.25 to $31.60 since the deal priced. The stock closed trading on Thursday at $29.87.

LivaNova PLC (NASDAQ: LIVN) was started with a Buy rating and a $115 price target at Stifel. The consensus price target is $90.33, and the stock closed Thursday at $95.86 a share.

Petrobras Brasilero S.A. (NYSE: PBR) was downgraded to Neutral from Buy at UBS. The 52-week trading range for Petrobras is $7.61 to $17.20, and the consensus price target is set at $14.73. The shares ended trading Thursday at $9.66.

Sientra Inc. (NASDAQ: SIEN) was downgraded to Hold from Buy at Maxim Group. The 52-week trading range is $7.59 to $20.99. The consensus price target is $21.14, and the stock ended trading Thursday at $20.19.

Viavi Solutions Inc. (NASDAQ: VIAV) was started with a Hold rating at Deutsche Bank. The 52-week trading range is $8.34 to $11.78, and the consensus price target is $12.08. The stock closed Thursday at $9.81.

In case you missed it, Thursday’s top analyst upgrades and downgrades included AT&T, Charter Communications, Comcast, Darden Restaurants, Spotify, WingStop and more.

I'm interested in the Newsletter