Top Analyst Upgrades and Downgrades: Apple, Caterpillar, Costco, GW Pharma, NXP, Southwest Air, Teva, Ulta, Wells Fargo and More

Stocks were indicated marginally lower after a strong jobs numbers on Friday morning, but despite a sell-off, the market remains close to all-time highs. Investors have seen less upside when buying the market pullbacks than in prior years, and investors need to consider how they want their investments positioned for the rest of 2018.

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 analyst reports cover stocks to buy, but some cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Friday, September 7, 2018.

Apple Inc. (NASDAQ: AAPL) saw its price target raised to $250 from $218 at Piper Jaffray ahead of the coming iPhone refresh event. The call is based on two-thirds of iPhone owners using a phone that is two years old or more, which keeps the iPhone super-cycle going strong.

Caterpillar Inc. (NYSE: CAT) was started as Neutral at Oppenheimer, with the firm noting that valuation concerns are currently offsetting an upbeat outlook from management.

Costco Wholesale Corp. (NASDAQ: COST) was reiterated as Buy and the price target was raised to $245 from $220 (versus a $236.68 prior close) at Stifel.

Cyclacel Pharmaceuticals Inc. (NASDAQ: CYCC) was started with a Buy rating and assigned a $6.25 price target (versus a $1.43 close) at Ladenburg Thalmann. The stock was down 3.4% on Thursday but indicated up 8% at $1.55 on Friday, and it has a 52-week trading range of $1.28 to $2.27.

GW Pharmaceuticals PLC (NASDAQ: GWPH) was started as Overweight with a $197 price target at Morgan Stanley. Shares closed at $139.63 on Thursday. The 52-week range is $92.46 to $164.76, and the consensus target price was $169.00.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was started as Overweight and assigned a $27 price target (versus a $19.46 close, after a 5% drop) at JPMorgan. The stock was indicated up 8% at $21.00 on Friday, with a consensus analyst target price of $27.45 and a 52-week range of $17.20 to $25.18.

Medallion Financial Corp. (NASDAQ: MFIN) was started with a Buy rating and assigned a $10 price target (versus a $6.13 close) at B. Riley.

NextDecade Corp. (NASDAQ: NEXT) was downgraded to Neutral from Buy with a $6 price objective (versus a $5.16 close) at Merrill Lynch.

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