Investing

Top Analyst Upgrades and Downgrades: ADT, Apple, BP, Ciena, Exxon Mobil, Fortinet, JD.com, Micron, UDR, Western Digital and More

Jon C. Ogg

Fortinet, Inc. (NASDAQ: FTNT) was raised to Outperform from Market Perform at Raymond James. Fortinet was indicated down 3.5% at $65.50 with a consensus analyst target price of $84.54.

Inogen, Inc. (NASDAQ: INGN) was raised to Strong Buy from Buy with a $280 price target (versus $137.45 close) at Needham & Co.

JD.com, Inc. (NASDAQ: JD) was downgraded to Neutral from Buy and the target price was lowered to $24 from $41 at Nomura/Instinet. JD.com was also downgraded to Neutral from Outperform and the price target was cut to $24 from $35.00 at Macquarie.

Marriott International, Inc. (NYSE: MAR) was downgraded to Hold from Buy at Argus.

Micron Technology Inc. (NASDAQ: MU) was downgraded in a two-notch cut at Robert W. Baird, down to Underperform from Outperform and slashing the price target down to $32 from $75. Micron was indicated down 7.4% at $34.10, versus a 52-week low of $33.82 and versus a 52-week high of $64.66. This call fells a month or more late based on other calls, but that’s life.

Qualys, Inc. (NASDAQ: QLYS) was raised to Buy from Neutral with a $100 price target (versus $69.21 close) at BTIG Research. Qualys has a 52-week range of $ 55.05 to $98.30and has a consensus analyst price target of $93.25.

Skyworks Solutions, Inc. (NASDAQ: SWKS) was downgraded to Underperform from Neutral and the price objective was lowered to $75 from $92 at BofA Merrill Lynch. Skyworks was down 3% at $70.76 on Monday and was indicated down 4.6% more at $67.50 on Tuesday — breaking under its 52-week low of $70.57. Another late tech call?

Teradyne, Inc. (NYSE: TER) was downgraded to Neutral from Buy with a $40 price objective (versus $35.29 close) at BofA Merrill Lynch. Teradyne has a 52-week range of $30.22 to $50.68 and has a consensus analyst price target of $39.29.

UDR, Inc. (NYSE: UDR) was downgraded to Neutral from Outperform at Robert W. Baird. UDR was indicated down over 4% at $86.50 on Tuesday, and it has a 52-week range of $32.88 to $41.63 and has a consensus analyst price target of $41.20.

Western Digital Corporation (NASDAQ: WDC) was downgraded to Neutral from Positive at Susquehanna. Western Digital was indicated down 4% at $43.30 on Tuesday and it had a consensus analyst target price of $72.20 that still looks artificially high, and its 52-week range is $40.58 to $106.96.

Barclays set a 3,000 target for the S&P 500 for 2019.

Could this drug stock have over 30% upside in this bad stock market?

Credit Suisse sees 3 airline stocks flying much higher than their peers.

Monday’s top analyst calls were in shares of American Air, BlackBerry, Mallinkrodt, PG&E, RingCentral, Southwest Airlines, Yeti and many more.