Investing

Top Analyst Upgrades and Downgrades: Abiomed, Allscripts, Apple, Carbonite, Kraft Heinz, L3, Southern Copper, Starbucks, VeriSign, XPO and More

 

Stocks were indicated to open higher on China trade deal hopes and after a stronger nonfarm payrolls report. While the stock market has bounced handily from the lows at the end of October, investors in 2018 have been seeing lower upside after buying immediately after the big market pullbacks versus prior years. The investing community needs to be considering how to position its investments for the rest of the year and as 2019 approaches.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for investors and traders alike. Some analyst reports cover stocks to buy, while some cover stocks to sell or stocks to avoid.

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

These are the top analyst upgrades, downgrades and initiations seen from Friday, Nov. 2, 2018.

Abiomed, Inc. (NASDAQ: ABMD) was raised to Buy from Neutral with a $450 price target (versus $376.94 close) at BTIG Research.

Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) was downgraded to Neutral from Overweight at J.P. Morgan. Allscripts was also downgraded to Neutral from Overweight at Cantor Fitzgerald. Allscripts was indicated down almost 15% at $10.30 after earnings, versus a prior 52-week range of $10.78 to $16.13.

American Tower Corporation (NYSE: AMT) was downgraded to Hold from Buy at Deutsche Bank.

ANSYS, Inc. (NASDAQ: ANSS) was raised to Outperform Neutral with a $184 price target (versus $153.14 close) at Wedbush Securities, noting that the pullback has presented an attractive entry point.

Apple Inc. (NASDAQ: AAPL) was down 5% after earnings as Tim Cook is lowering the amount of device unit sales and deliveries communication to investors. Wedbush Securities maintained its Outperform rating and $310 price target as its bullish thesis is unchanged.

BioDelivery Sciences International, Inc. (NASDAQ: BDSI) was reiterated as Buy and the price target was raised to $5 from $4 (versus $3.85 close) at Janney, noting that a leading pharmacy benefits provider has added Belbuca to its national formulary list.

ALSO READ: 10 Big S&P Stocks Are Down Over 40%

Buckle Inc. (NYSE: BKE) was raised to Hold from Sell at Deutsche Bank.

Carbonite, Inc. (NASDAQ: CARB) was downgraded to Perform from Outperform at Oppenheimer.

Chesapeake Utilities Corporation (NYSE: CPK) was raised to Buy from Neutral with a $86 price target (versus $78.14 close) at Janney, with the company noting that valuation reached an inflection point.

Credit Suisse Group AG (NYSE: AG) was downgraded to Hold from Buy at Societe Generale.

Essex Property Trust, Inc. (NYSE: ESS) was downgraded to Market Perform from Outperform at BMO Capital Markets.

Huntington Bancshares, Inc. (NASDAQ: HBAN) was downgraded to Neutral from Outperform at Wedbush Securities.

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