Top Analyst Upgrades and Downgrades: Adobe, Corning, Costco, GrubHub, Kroger, Micron, Shopify, SLM, Walmart, Yelp and More

Stocks were indicated to open marginally higher on Friday, but not so much that the direction of this day looked set. U.S. equity indexes remain near all-time highs at a time that most international markets are not close to their highs. One issue that stands out to U.S. investors is that they have seen less upside from buying on market pullbacks than in prior years. Investors also need to consider how they want to have 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 ideas for investors and traders alike. Some analyst reports cover stocks to buy, but some of them 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 14, 2018.

Adobe Systems Inc. (NASDAQ: ADBE) was up 0.3% at $268.52 on Thursday and was up less than 0.5% on Friday’s post-earnings reaction to a 52-week and all-time high of $270.94. Citigroup reiterated its Buy rating and raised its target to $325 from $275. KeyBanc reiterated its Overweight rating and raised its target to $286 from $276. Stifel reiterated its Buy rating and raised its target to $325 from $275, and Credit Suisse reiterated its Outperform rating and raised its target to $300 from $275.

ANGI Homeservices Inc. (NASDAQ: ANGI) was started as Outperform and the price target was set at $26 (versus a $22.80 prior close) at Wedbush Securities. The firm noted that the HomeAdvisor and Angie’s List combination has created a company with strong leadership and unmatched scale in a market highlighted with strong structural (and long-term) tailwinds.

Corning Inc. (NYSE: GLW) was raised to Buy from Neutral and the price target was raised to $40 from $32 at Citigroup. The stock closed up over 3% at $35.06 on Thursday and was indicated up another 1.2% at $35.45 on Friday. The consensus target price is $35.72.

Costco Wholesale Corp. (NASDAQ: COST) was downgraded to Market Perform from Outperform with a $235 price target (versus a $241.27 close) at Wells Fargo.

Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was downgraded to Sector Perform from Outperform, while the price target was maintained at $75 (versus a $76.02 close), at RBC Capital Markets.

D.R. Horton (NYSE: DHI) was reiterated as Outperform but was added to the Best Ideas List at Wedbush. The firm noted that D.R. Horton has expanded its product lines into the luxury Emerald line, the entry-level Express brand, and active-adult brand Freedom Homes, while it has also maintained a core focus on entry-level to move-up housing with the D.R. Horton brand of homes.

eBay Inc. (NASDAQ: EBAY) was started as Neutral at Wedbush. Shares closed up 0.5% at $34.44 on Thursday, in a 52-week range of $32.85 to $46.99 and with a consensus target price of $44.41.

Etsy Inc. (NASDAQ: ETSY) was started as Neutral at Wedbush. Shares closed up 2.8% at $50.55 on Thursday, in a 52-week range of $15.27 to $50.91 and a consensus target price of $48.44.

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