Top Analyst Upgrades and Downgrades: Abbott Labs, Apple, Apptio, Cheniere, First Solar, Kratos, Smartsheet, UPS, Waste Management and More
Hartford Financial Services Group Inc. (NYSE: HIG) was raised to Buy from Neutral at Janney. The firm noted that Hartford has underperformed peers in 2018 (down 22% year to date) but it sees it now having one of the lowest P/E ratios in the P&C space, and it is now positioned in businesses that have historically generated attractive returns and excess capital.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) was downgraded to Neutral from Buy at UBS. It closed down 2% at $33.96 on Monday and has a consensus target price of $44.16.
Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) was started with an Outperform rating and assigned a $19 price target (versus a $13.42 close) at Robert W. Baird. It has a 52-week range of $8.90 to $16.09, and its consensus target was $16.13.
Owens-Illinois Inc. (NYSE: OI) was downgraded to Underweight from Sector Weight with a $16 target price (versus an $18.57 close) at KeyBanc Capital Markets.
RH (NYSE: RH), or Restoration Hardware, was reiterated as Outperform and the price target was raised to $160 from $145 (versus a $123.65 close) at Wedbush Securities.
RMR Group Inc. (NYSE: RMR) was raised to Buy from Neutral with an $82 price target at B. Riley FBR. That is actually a lower target than the prior $89 one the firm had, but the consensus target price was down at $57.50.
Smartsheet Inc. (NYSE: SMAR) was reiterated as Overweight but the price target was raised to $34 from $33 (versus a $27.06 close) at Morgan Stanley.
Tesaro Inc. (NASDAQ: TSRO) was up 58.5% at $73.50 after news that GlaxoSmithKline is acquiring it. Now the analysts are downgrading the stock to reflect the higher takeout price. Analyst downgrades were seen from Leerink, Gabelli, Guggenheim, Wedbush and more.
United Parcel Service Inc. (NYSE: UPS) was reiterated as Underweight and the price target was lowered even further at Morgan Stanley to $87 from $92. The shares closed at $115.27 on Monday and were indicated down another 1.5% at $113.60 on Tuesday. UPS also had a consensus target price of $124.61.
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) was raised to Overweight from Neutral with a $43 price target (versus a $31.47 close, after a 25% gain) at Cantor Fitzgerald.
Waste Management Inc. (NYSE: WM) was raised to Buy from Sell in a two-notch upgrade at Goldman Sachs, and the price target was raised to $107 from $84. The consensus target price is $96.22, and the shares were indicated up 1.8% at $94.75 on Tuesday.
Werner Enterprises Inc. (NASDAQ: WERN) was downgraded to Neutral from Buy at UBS. The 52-week range is $31.08 to $43.95. The consensus analyst target is $39.06.
Monday’s top analyst calls included ABB, AGCO, AT&T, Broadcom, Caterpillar, Costco, First Solar, Lululemon Athletica, Roku, Verizon Communications, Xilinx and many more great companies.