Investing

Top Analyst Upgrades and Downgrades: Dolby Labs, Facebook, Freeport-McMoRan, Gilead, GrubHub, Skechers and More

The futures were trading higher Thursday morning on some positive trade news. However, most on Wall Street remain focused on the stream of second-quarter earnings results that continue to pour in. Of the over 100 companies in the S&P 500 that have already released results, 90% have reported earnings beats, which has most investors very positive. The trend of buying the dips has not worked as well as it has in prior years, and many investors have considered 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 to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other 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 Thursday, July 26, 2018.

Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) was raised to Buy from Hold at Maxim Group, which has a $187 price target on the shares. That compares with a consensus price target of $157.80. The stock closed trading on Wednesday at $145.30.

Dolby Laboratories Inc. (NYSE: DLB) saw its target price raised at B. Riley FBR to $69 from $61, though the firm maintains its Neutral rating on the shares. While the firm is increasingly optimistic of the company’s license revenue trends stemming from the mobile segment and Dolby Cinema expansion, it is looking for increasing evidence around Dolby Vision and the ability to dominate a space with a new entrant also looking to set the standard. The consensus price target is posted at $71, and the stock ended trading Wednesday at $64.55.

Euronet Worldwide Inc. (NASDAQ: EEFT) was resumed in coverage with an Outperform rating at Well Fargo. The 52-week trading range is $70.60 to $101.07. The consensus price target is set at $109.71, and the shares closed Wednesday at $94.40, up almost 13% on the day.

Facebook Inc. (NASDAQ: FB) saw its price target lowered to $205 from $242 at JPMorgan, and while the stock was removed from the firm’s Focus List, the analyst maintains its Overweight rating. The social media giant missed earnings badly on Wednesday and also suffered some big losses in user metrics. The shares closed trading on Wednesday at $217.50, but were crushed in premarket trading and may open down over 20%.

Freeport-McMoRan Inc. (NYSE: FCX) was raised to Hold from Sell at Deutsche Bank. The 52-week trading range for the commodities giant is $13.22 to $20.25, and the consensus price target is $19.46. The stock closed trading Wednesday at $15.86.

Gilead Sciences Inc. (NASDAQ: GILD) was downgraded to Neutral from Outperform at Baird. The 52-week trading range for the biotech giant is $64.27 to $89.54, and the consensus price target is $86.17. The stock closed Wednesday at $78.92.

GlaxoSmithKline PLC (NYSE: GSK) was raised to Buy from Hold at Shore Capital. Its 52-week trading range is $34.52 to $2.36. The consensus price target for the European pharmaceutical giant is $41.74, and the stock closed Wednesday at $40.52.

Follow @Jonogg on Twitter to receive the daily analyst calls and other market research calls directly on your feed.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.