Top Analyst Upgrades and Downgrades: AIG, Freeport-McMoRan, Frontier Communications, Noble Energy, Occidental, Spark Therapeutics, Target and More

Print Email

Stocks were indicated higher on Wednesday after the elections results basically went as the pre-vote polls had indicated. While there has been a big bounce off last week’s lows, investors have seen lower upside after buying immediately after the big market pullbacks than in prior years. The investing community needs to consider how to position their investments for the rest of the year and into 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy, while others 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 Wednesday, November 6, 2018.

Abiomed Inc. (NASDAQ: ABMD) was raised to Overweight from Equal Weight with a $496 price target (versus a $389.85 prior close) at Morgan Stanley.

American International Group Inc. (NYSE: AIG) was downgraded to In-Line from Outperform with a $51 price target (versus a $44.90 close) at Evercore ISI. It had a consensus analyst target price of $56.60.

Diplomat Pharmacy Inc. (NASDAQ: DPLO) was downgraded to Underperform from Neutral and the price target was slashed to $10 from $22 (versus a $20.34 close) at Robert W. Baird. The 52-week range is $14.50 to $28.74 and the consensus target price is $25.10

Emerald Expositions Events Inc. (NYSE: EEX) was raised to Buy from Neutral with a $15 price target (versus a $12.71 close) at Goldman Sachs. The 52-week range is $11.50 to $24.45 and the consensus target price is $14.90.

Freeport-McMoRan Inc. (NYSE: FCX) was downgraded to Underperform from Sector Perform at RBC Capital Markets. Shares closed at $12.20 but were indicated up 1.7% at $12.41 on Wednesday. The consensus target price is $16.51, and the 52-week trading range is $10.59 to $20.25.

Frontier Communications Corp. (NASDAQ: FTR) was up 5% at $5.26 ahead of earnings but was indicated down 16% at $4.42 after earnings. Now UBS has downgraded it to Sell from Neutral and slashed the price target to $3 from $6. Frontier had a prior consensus target price of $6.37, and its 52-week trading range was $4.26 to $11.64.

Infinera Corp. (NASDAQ: INFN) was last seen down about 27% at $4.54 after earnings. Nomura/Instinet downgraded it to Neutral from Buy and slashed the target price to $6 from $12. The 52-week range is $5.24 to $12.39 and the consensus target price is $9.58

Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) saw its shares drop 9.5% to $12.78 after earnings on Tuesday. Now JPMorgan has downgraded it to Underweight from Neutral, and Credit Suisse downgraded it to Neutral from Outperform. The 52-week range is $12.67 to $21.20 and the consensus target price is $18.09.

MINDBODY Inc. (NASDAQ: MB) was downgraded to Neutral from Overweight and the price target was cut to $31 from $48 at JPMorgan. The 52-week range is $28.70 to $45.50 and the consensus target price is $44.77.

Noble Energy Inc. (NYSE: NBL) was raised to Outperform from Market Perform at Raymond James.

Follow @Jonogg on Twitter to receive the daily analyst calls and other market research calls directly on your feed.