Top Analyst Upgrades and Downgrades: Activision, Biogen, Deere, DocuSign, Ford, Freeport-McMoRan, GM, Lattice Semi, Qualys, Shopify, Under Armour and More
Molson Coors Brewing Co. (NYSE: TAP) was down 9.4% at $59.19 on Tuesday’s post-earnings reaction, in a 52-week range of $54.17 to $82.29. Deutsche Bank downgraded the stock to Hold from Buy.
Myovant Sciences Ltd. (NASDAQ: MYOV) was raised to Overweight from Equal Weight and the target price was raised to $25 from $22 at Barclays. Shares closed up 2.3% at $19.19 on Tuesday, in a 52-week range of $13.43 to $27.45. The consensus target price is $30.29.
National Retail Properties Inc. (NYSE: NNN) was downgraded to Neutral from Buy and the target price was raised to $55 from $50 (versus a $52.12 close, after a 2.9% drop after earnings) at B. Riley FBR.
OncoCyte Corp. (NYSE: OCX) was started as Overweight with a $6 price target (versus a $3.84 close) at Piper Jaffray. It has a 52-week range of $1.10 to $6.92 and a market cap of only $191 million.
Qualys Inc. (NASDAQ: QLYS) was up 1.7% at $96.41 ahead of earnings, but the guidance had the shares down almost 16% at $81.00 on Wednesday morning. JPMorgan downgraded it to Underweight from Neutral and cut the price target to $82 from $90. Wedbush maintained its Outperform rating with a $95 price target, but it noted that guidance was nothing to write home about and addressed whether guidance was conservative or there is slowing demand.
Shopify Inc. (NYSE: SHOP) was up 1.4% at $175.55 on Tuesday in reaction to earnings, and shares were indicated up another 2% at $179.00 on Wednesday. RBC Capital Markets upgraded it to Outperform from Sector Perform and raised the target price to $230 from $180. Wedbush Securities reiterated its Outperform rating and $200 price target, noting that Shopify is well positioned to keep gaining its share of e-commerce wallets over time and to capture more merchants across the entire spectrum of size from aspirational to established companies to enterprise level.
Synlogic Inc. (NASDAQ: SYBX) was started with a Buy rating and assigned a $22 price target (versus a $9.56 close, after a 7.3% gain) at BTIG Research. The 52-week range is $5.75 to $14.59, and the market cap $243 million.
Under Armour Inc. (NYSE: UAA) was maintained as Neutral with a $20 price target (versus a $22.21 close, after a 6.9% post-earnings gain) at Wedbush, with the firm noting that there is no need to rush into the shares at the current level after earnings. Credit Suisse also stuck with a Neutral rating.
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Tuesday’s top analyst calls included BHP, Cisco, Crown Castle, Gilead Sciences, Goldcorp, Take-Two Interactive Software, Varonis, Whiting Petroleum and many more. Monday’s top analyst calls were in Avis Budget, Bed Bath & Beyond, Canadian Solar, CBS, Electronic Arts, Goodyear, Nvidia, Tesla, Watts Water and many more.