Top Analyst Upgrades and Downgrades: AutoZone, Chipotle, Diamondback Energy, Hasbro, Papa John’s, Western Digital and More

Investing

Published: August 15, 2018 8:55 am

Last Updated: January 11, 2020 7:23 pm

The futures took a big hit Wednesday morning as investors continue to show concern over the situation in Turkey. The big issue cited across Wall Street is the fear of a contagion that could spread through the emerging markets, and that added to continued worries over trade. The trend of buying the dips has not worked as well lately 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 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 Wednesday, August 15, 2018.

Advance Auto Parts Inc. (NYSE: AAP) was raised to Neutral from Sell at Citigroup. The 52-week trading range for the shares is $78.81 to $159.50. The Wall Street consensus price target is $148.82. This is a better late than never call as the stock closed Tuesday at $156.13, up almost 8% after posting solid quarterly results.

Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Overweight from Equal Weight at Morgan Stanley. The 52-week trading range for the restaurant chain is $247.52 to $495.04, and the consensus price target is set at $450.52. The shares closed way above that mark on Tuesday at $493.32.

DTE Energy Co. (NYSE: DTE) was started with an Equal Weight rating and a $116 price target at Barclays. That compares to the consensus target of $111.50. The shares closed near that level Tuesday at $111.04.

Diamondback Energy Inc. (NASDAQ: FANG) was downgraded to Market Perform from Outperform at BMO Capital Markets. The 52-week trading range is $85.73 to $138.25, and the consensus price target is set at $165.59. The company just announced a massive $8.4 billion all-stock purchase of Energen Corp. (NYSE: EGN). Diamondback closed Tuesday at $133.75, but shares traded down almost 7% in Wednesday’s premarket action.

Hasbro Inc. (NYSE: HAS) was raised to Buy from Neutral at MKM Partners. The 52-week trading range for the toy and game giant is $79.00 to $107.58, and the consensus price target is $108.14. The shares ended trading on Tuesday at $98.13.

Holly Automation Technologies Ltd. (NASDAQ: HOLI) was downgraded to Neutral from Overweight at JPMorgan. The stock has traded in a 52-week range of $19.13 to $28.85, and the consensus price target is $28.65. The shares closed Tuesday at $23.35.

Papa John’s International Inc. (NASDAQ: PZZA) was raised to Hold from Sell at Stifel. The stock has traded in a 52-week range of $38.05 to $80.80. The consensus price target is $52.40, and the shares ended trading on Tuesday at $43, up almost 3% on the day.

Silicon Motion Technology Corp. (NASDAQ: SIMO) was raised to Outperform from Market Perform at Cowen. The 52-week trading range is $41.36 to $59.19. The consensus price target is $56.06, and the stock closed trading on Tuesday at $58.54.

Tesaro Inc. (NASDAQ: TSRO) was downgraded to Hold from Buy at Argus. The 52-week trading is a stunning $25.62 to $136.45, while the consensus price target is $56.20. The shares closed Tuesday at $28.04.

Western Digital Corp. (NASDAQ: WDC) was downgraded to Market Perform from Outperform at Cowen, which established a $70 price target for the shares. That compares with a consensus price target of $106.67. The stock closed trading on Tuesday at $64.99.

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

AECOM (NYSE: ACM) was downgraded to Hold from Buy at Argus. Its 52-week trading range is $30.15 to $39.90, and the consensus price target is $38.63. The stock closed Tuesday at $32.93.

AutoZone Inc. (NYSE: AZO) was raised to Overweight from Equal Weight at Stephens. The auto parts giant has traded between $499.10 and $797.89 over the past year. The consensus price target is $748.78, but shares closed above that level on Tuesday at $754.87.

Avalon Bay Communities Inc. (NYSE: AVB) was downgraded to Neutral from Outperform at Baird. The 52-week trading range for the shares is $152.65 to $193.41, and the consensus price target is $187.44. The stock closed on Tuesday at $178.63.

Brighthouse Financial Inc. (NASDAQ: BHF) was raised to Neutral from Underperform at Credit Suisse. The shares have traded between $39.24 and $67.55 over the past year. The consensus price target is $50.46. The stock ended trading on Tuesday at $41.09, up almost 4% on the day.

Casa Systems Inc. (NASDAQ: CASA) was downgraded to Neutral from Outperform at Macquarie. The stock has traded in a 52-week range of $0.09 to $34.21. The consensus price target is set at $24.60, and the stock closed trading on Tuesday at $15.60. The shares were hammered in the premarket, down a massive 25%, on earnings that looked to exceed analyst estimates, but revenues came in way below estimates.

Incyte Corp. (NASDAQ: INCY) was raised to Outperform from Sector Perform at RBC Capital Markets. The stock has traded in a 52-week range of $60.23 to $140.11, and the consensus price target is $84.31. The stock ended Tuesday at $66.45 a share.

ALSO READ: Current Bull Market Not Over Until It’s Over: 5 US Stocks to Buy

New Gold Inc. (NYSE: NGD) was downgraded to Underperform from Sector Perform at RBC Capital Markets. The 52-week trading range is $1.10 to $4.25. The consensus price target is $3.81, and the shares ended Tuesday at $1.10.

Schnitzer Steel Industries Inc. (NASDAQ: SCHN) was downgraded to Underweight from Equal Weight at Morgan Stanley. The stock has traded between $25 and $38.85 over the past year. The consensus price target is $39. Shares closed way below that level on Tuesday at $28.25.

In case you missed it, Tuesday’s top analyst upgrades and downgrades included Alliance Data Systems, Blackstone, Cognizant Technology Solutions, HCA, Paychex, Salesforce,com, Wynn Resorts, Yext, Zoetis and more.

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