Top Analyst Upgrades and Downgrades: Alcoa, Chevron, GM, Lam Research, Micron, NXP Semiconductors, Royal Bank of Scotland, Tiffany, Wayfair and More
Maxim Integrated Products Inc. (NASDAQ: MXIM) was downgraded to Hold from Buy at Stifel.
Micron Technology Inc. (NASDAQ: MU) was downgraded to Neutral from Buy with a $50 price target (versus a $43.60 close, after almost a 3% drop) at Goldman Sachs. Micron was indicated down another 4% at $41.75, and it had a consensus target price of $83.60.
NXP Semiconductors N.V. (NASDAQ: NXPI) was downgraded to Sell from Hold with an $84 price target (versus an $89.57 close, after a 4.4% drop) at Stifel. Merrill Lynch reiterated its Neutral rating but has a $110 price objective after its analyst day. Shares have a consensus target price of $107 and were indicated down another 1.5% at $88.25 on Wednesday.
Power Integrations Inc. (NASDAQ: POWI) was downgraded to Hold from Buy with a $75 price target (versus a $70.15 close) at Stifel. It has a $78.00 consensus target price and a 52-week range of $60.55 to $86.60.
Royal Bank of Scotland Group PLC (NYSE: RBS) was raised to Buy from Neutral at Goldman Sachs. The firm sees better medium-term cash returns and sees it at a discount to Lloyds despite having resolved many legacy issues. RBS saw its American depositary shares close down 1.07% at $6.49 on Tuesday, and it was indicated down 0.3% on Wednesday. The 52-week trading range is $6.13 to $8.74.
TerraForm Power Inc. (NASDAQ: TERP) was raised to Neutral from Sell with an $11 price target (versus an $11.04 close) at Goldman Sachs. The 52-week range is $9.90 to $14.20, and the consensus target price is $13.00.
Tiffany & Co. (NYSE: TIF) was raised to Outperform from Perform and assigned a $152 price target (versus a $123.37 close) at Oppenheimer.
Wayfair Inc. (NYSE: W) was started as Market Perform and assigned a $150 price target (versus a $143.96 close) at Wells Fargo. The 52-week range is $55.33 to $144.35. The consensus analyst target is $121.00.
Worldpay Inc. (NYSE: WP) was raised to Buy from Neutral with a $125 price target (versus a $99.26 close) at Mizuho. It has a consensus target price of $103.83 and was indicated up 1% at $99.00 on Wednesday.
Zealand Pharma A/S (NASDAQ: ZEAL) was started with an Overweight rating and assigned a $29 price target (versus a $17.39 close) at Morgan Stanley.
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Tuesday’s top analyst calls were in Baker Hughes, CBS, Generac, Halliburton, Nike, PG&E, Snap, Tesla, Weatherford, Western Digital and many more.