Top Analyst Upgrades and Downgrades: Annaly, Alcoa, Carvana, Crown Castle, Delta, Northrup Grumman, PG&E, Snap, Teradyne, Western Digital, XPO and More
miRagen Therapeutics Inc. (NASDAQ: MGEN) was reiterated as Outperform and the price target was raised to $22 from $19 at Wedbush Securities with the note that the Cobomarsen update shows its emerging clinical profile could transform the standard-of-care if the inhibitor of miR-155 is approved. There are three potential blockbuster sellers cited for the next decade, and this is only $3.41 stock. The 52-week trading range is $2.20 to $9.01.
Northrop Grumman Corp. (NYSE: NOC) was raised to Outperform from Neutral with a $302 price target (versus a $256.05 close) at Credit Suisse. It had a consensus target price of $317.11 and a 52-week trading range of $223.63 to $360.88.
PG&E Corp. (NYSE: PCG) was last seen trading down over 40% and under $11 on new reports that the company likely will seek a bankruptcy filing by the end of January. The stock was downgraded to Neutral from Overweight with a $22 price target (versus a $17.59 close) at JPMorgan. The prior 52-week range was $15.78 to $49.42, and any analyst who tried to defend the viability here after the latest Camp Fire will have to be issuing new “oops” ratings.
PNM Resources Inc. (NYSE: PNM) was downgraded to Underperform from Neutral with a $38.50 price target (versus a $41.51 close) at Mizuho. It had a consensus target price of $39.50.
PPL Corp. (NYSE: PPL) was downgraded to Underperform from Neutral with a $28 price objective (versus a $29.50 close) at Merrill Lynch.
Schnitzer Steel Industries Inc. (NASDAQ: SCHN) was downgraded to Neutral from Buy and the target price was lowered to $27 from $33 (versus a $22.96 close) at Goldman Sachs.
Sherwin-Williams Co. (NYSE: SHW) was raised to Outperform from Market Perform with a $475 price target (versus a $395.93 close) at Wells Fargo. It has a 52-week range of $355.28 to $479.64 and a consensus target price of $449.00.
Snap Inc. (NYSE: SNAP) was raised to Neutral from Sell at Citigroup. The stock closed up 1% at $6.28 on Friday and was indicated up 2.2% at $6.42 on Monday. It has a consensus target price of $7.84 and a 52-week trading range of $4.82 to $21.22.
Taylor Morrison Home Corp. (NYSE: TMHC) was downgraded to Market Perform from Outperform at Wells Fargo.
Teladoc Health Inc. (NYSE: TDOC) was raised to Outperform from Neutral with an $80 price target (versus a $55.47 close) at Robert W. Baird. The consensus analyst target is $88.00. The 52-week trading range is $30.88 to $89.05.
Teradyne Inc. (NASDAQ: TER) was downgraded to In-Line from Outperform at Evercore ISI.
Verint Systems Inc. (NASDAQ: VRNT) was reiterated as Outperform with a $58 price target (versus a $45.42 close) at Wedbush. The firm talked up its secular cloud growth drivers acting as tailwinds that even have additional new growth ahead.
Western Digital Corp. (NASDAQ: WDC) was downgraded to Underperform from In-Line with a $30 price target (versus a $40.03 close) at Evercore ISI. The consensus target price was $64.20 ahead of this call. The shares were indicated down almost 5% at $38.05 on Monday morning.
XPO Logistics Inc. (NYSE: XPO) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Friday’s top analyst calls included Chesapeake Energy, CME, Constellation Brands, Dominion Energy, Electronic Arts, Gap, Netflix, Starbucks, Viacom, Yum! Brands, Zynga and many more.