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Top Analyst Upgrades and Downgrades: Apple, Broadcom, Chesapeake Energy, Devon Energy, Lululemon, SecureWorks, Tesla, Zendesk and Many More

Jon C. Ogg

Published: December 7, 2018 9:15 am

Last Updated: January 11, 2020 2:02 pm

Stocks managed to come screaming back from another big sell-off for a mixed close on Thursday, and the indexes turned positive on Friday morning after the payrolls report was strong but not strong enough that the Federal Reserve has to keep its panic button close on raising rates. Investors have seen less upside from buying immediately after the big market sell-offs than in prior years, and now they have to consider how they want their investments and assets positioned for 2019.

24/7 Wall St. reviews dozens of analyst research reports each day to find new ideas for investors and traders alike. Some of these 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 Friday, December 7, 2018.

Apple Inc. (NASDAQ: AAPL) was maintained as Overweight but the target price was lowered to $236 from $253 at Morgan Stanley. Apple closed down 1.1% at $174.72 on Thursday and was indicated down another 0.2% at $174.35 on Friday. The consensus target price is $228.43, and the 52-week trading range of $150.24 to $233.47.

Broadcom Ltd. (NASDAQ: AVGO) closed down just over 2% ahead of earnings at $227.24, but after beating earnings, raising guidance, hiking its dividend and increasing its stock buyback plan even further, its shares were indicated up almost 4% at $236.00 on Friday morning. Morgan Stanley maintained it as Equal Weight and lowered the price target to $250 from $260. MKM Partners reiterated its Buy rating and raised its target to $285 from $250. BMO Capital Markets has a Market Perform rating but raised its target price to $250 from $230 after earnings.

Chesapeake Energy Corp. (NYSE: CHK) was downgraded to Underweight from Neutral at JPMorgan. Chesapeake closed down almost 6% at $2.72 on Thursday but was indicated up 0.7% at $2.74 on Friday. It has a 52-week range of $2.53 to $5.60, and the consensus target price is $4.32.

Devon Energy Corp. (NYSE: DVN) was downgraded to Neutral from Overweight and the price target was lowered to $37 from $40 at JPMorgan. Shares closed down 1.5% at $27.75 on Thursday but were indicated down another 0.5% at $27.60 on Friday. Devon has a 52-week range of $25.87 to $46.54.

Lululemon Athletica Inc. (NASDAQ: LULU) was down 1.6% ahead of earnings and was last seen up less than 1% at $132.50 on Friday morning. Morgan Stanley maintained it as Equal Weight but raised the price target to $138 from $133. Lululemon has a 52-week range of $72.13 to $164.79, and its consensus target price was $163.34.

SecureWorks Corp. (NASDAQ: SCWX) was down 2.7% at $17.10 on Thursday and was indicated down another 4.4% at $16.36 on Friday on the heels of its earnings. RBC Capital Markets downgraded it to Sector Perform from Outperform with an $18 target. Also, First Analysis lowered it to Neutral from Outperform with a $17 target.

Tesla Inc. (NASDAQ: TSLA) was raised to Buy from Hold and the price target was raised to $450 from $360 at Jefferies. Tesla closed up 0.9% at $363.06 on Thursday and was indicated up 2.2% at $371.00 on Friday. The 52-week range is $244.59 to $387.46.

Zendesk Inc. (NYSE: ZEN) was started with an Outperform rating and assigned a $71 target price. The consensus target price is $70.71, and the 52-week trading range of $33.13 to $72.76.

Other key analyst calls from Friday were seen as follows:

Alteryx Inc. (NYSE: AYX) was started as Outperform with a $72 target price (versus a $59.85 prior close) at Wedbush Securities.

At Home Group Inc. (NYSE: HOME) was maintained as Overweight but the target price was lowered to $38 from $42 (versus a $23.75 close) at KeyBanc Capital Markets.

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Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was downgraded to Underweight from Neutral and its price target was lowered to $20 from $27 (versus a $16.36 close, after a 6.4% drop) at JPMorgan. Carrizo has a 52-week range of $13.49 to $31.57.

Diplomat Pharmacy Inc. (NYSE: DPLO) was raised to Neutral from Underperform with a $15 target price (versus a $14.92 close, after a 5% drop) at Robert W. Baird.

DocuSign Inc. (NASDAQ: DOCU) was maintained as Equal Weight but the price target was raised to $52 from $49 at Morgan Stanley.

Edwards Lifesciences Corp. (NYSE: EW) was maintained as Overweight and the target price was raised to $180 from $157 (versus a $163.33 close, after a 3.8% gain) at Morgan Stanley.

EOG Resources Inc. (NYSE: EOG) was raised to Overweight from Neutral with a $118 price target (versus a $102.13 close) at JPMorgan.

Expeditors International of Washington Inc. (NASDAQ: EXPD) was downgraded to Sell from Neutral with a $68 price target at Goldman Sachs. The stock closed down 1.6% at $74.30 on Thursday and was indicated down over 2.5% at $72.40 on Friday, and it had a consensus target price of $73.21.

Extraction Oil & Gas Inc. (NYSE: XOG) was downgraded to Underweight from Overweight at JPMorgan.

FactSet Research Systems Inc. (NYSE: FDS) was raised to Equal Weight from Underweight with a $235 price target (versus a $226.42 close) at Barclays.

Gulfport Energy Corp. (NASDAQ: GPOR) was downgraded to Neutral from Overweight and its target was lowered to $8 from $11 (versus a $9.18 close) at JPMorgan.

Halcon Resources Corp. (NYSE: HK) was downgraded to Underweight from Neutral at JPMorgan.

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Matador Resources Co. (NYSE: MTDR) was downgraded to Neutral from Overweight at JPMorgan.

Methanex Corp. (NASDAQ: MEOH) was downgraded to Hold from Buy at Jefferies.

Mimecast Ltd. (NASDAQ: MIME) was started with a Neutral rating and assigned a $40 target price (versus a $36.68 close) at Wedbush.

Momo Inc. (NASDAQ: MOMO) was downgraded to Equal Weight from Overweight at Morgan Stanley.

MSCI Inc. (NYSE: MSCI) was raised to Overweight from Equal Weight with a $175 target price (versus a $152.32 close) at Barclays.

National Beverage Corp. (NASDAQ: FIZZ) was raised to Neutral from Sell with a $86 target price (versus an $84.30 close) at Guggenheim.

Trinseo S.A. (NYSE: TSE) was downgraded to Hold from Buy and the target price was slashed to $55 from $80 (versus a $49.65 close) at Jefferies.

United Natural Foods Inc. (NASDAQ: UNFI) was reiterated as Underweight and the price target was lowered to $21 from $23 (versus a $19.73 close) at Morgan Stanley.

Thursday’s top analyst calls included Alphabet, American Water Works, Apple, Facebook, Macy’s, Southern Copper, Twitter, YY and about a dozen more.