Top Analyst Upgrades and Downgrades: AMD, Caterpillar, NRG, Nvidia, P&G, Square, Red Hat, Transocean, Viacom, Wisdom Tree and More
Fifth Third Bancorp (NASDAQ: FITB) was added to the Wedbush Best Ideas List, with the firm noting several earnings levers that other banks don’t have to overcome, like a rebound in loan growth and less margin benefit from rate hikes as deposit costs are accelerating.
First Bancorp (NYSE: FBP) was raised to Buy from Neutral with an $11.50 price objective (versus an $8.62 close) at Merrill Lynch.
Helmerich & Payne Inc. (NYSE: HP) raised to Outperform from Sector Perform with a $90 price target (versus a $66.04 close) at RBC Capital Markets.
Interpublic Group of Companies Inc. (NYSE: IPG) was raised to Outperform from Neutral and the price target was raised to $25 from $24 (versus a $22.36 close) at Macquarie.
Kimberly Clark Co. (NYSE: KMB) was started as Underweight at Atlantic Equities. The stock was down 0.8% at $116.15 on Wednesday, in a 52-week range of $97.10 to $123.77.
NRG Energy Inc. (NYSE: NRG) was reiterated as Outperform and the price target was raised to $41 from $40 (versus a $35.58 close) at Macquarie.
Noble Corp. PLC (NYSE: NE) was raised to Outperform from Sector Perform with a $15 price target (versus a $6.45 close) at RBC Capital Markets.
Nvidia Corp. (NASDAQ: NVDA) was started with a Buy rating and assigned a $310 price target (versus a $271.81 close) at Benchmark. It has a 52-week range of $170.16 to $285.22 and had a consensus target price of about $292 ahead of this call.
Procter & Gamble Co. (NYSE: PG) was started with an Overweight rating at Atlantic Equities. It closed at $84.00 on Wednesday and was indicated up 0.5% at $84.40 on Thursday, in a 52-week range of $70.73 to $94.50 and with a consensus target price of $83.08.
Ralph Lauren (NYSE: RL) was raised to Neutral from Underweight with a $125 price target (versus a $134.14 close) at Piper Jaffray. The 52-week trading range is $83.26 to $147.79.
Range Resources Corp. (NYSE: RRC) was raised to Buy from Neutral with a $22 price target (versus a $17.19 close) at B. Riley.
Red Hat Inc. (NYSE: RHT) was up 0.3% at $143.16 ahead of earnings, but its shares were down 5.7% at $135.00 in early indications on Thursday after the earnings reaction. Nomura/Instinet maintained it at Buy and cut the target to $175 from $182, and Stifel maintained it as Buy with a target price cut to $160 from $172. Citigroup maintained its Buy rating but lowered its target to $163 from $167, and KeyBanc maintained its Overweight rating but cut the target to $180 from $184.
Rowan Companies PLC (NYSE: RDC) was raised to Outperform from Sector Perform with a $30 price target (versus a $16.48 close) at RBC Capital Markets. It has a 52-week range of $10.94 to $17.54 and a $16.54 consensus target price.