Top Analyst Upgrades and Downgrades: Allscripts, AmeriGas, CVS, IMAX, Kraft Heinz, Marathon Oil, Microsoft, Pfizer and Many More
HSBC Holdings PLC (NYSE: HSBC) was downgraded to Underperform from Neutral at Macquarie.
IMAX Corp. (NASDAQ: IMAX) was downgraded to Hold from Buy with a $23 price target (versus a $21.38 close) at Canaccord Genuity.
Kraft Heinz Co. (NASDAQ: KHC) was gutted on Friday after the food giant disclosed an SEC probe, acquisition cost writedowns and a dividend cut. Many analysts already downgraded Kraft, and on Monday Bernstein cut it to Market Perform from Outperform.
Marathon Oil Corp. (NYSE: MRO) was maintained as Buy but the price target was lowered to $22 from $25 (versus a $16.89 close) at Argus. The independent research firm sees Marathon with a positive view of its focus on short-cycle unconventional North American oil, natural gas and NGL production and noted that it has divested $4 billion of noncore assets over the past two years.
Microsoft Corp. (NASDAQ: MSFT) was already rated as Outperform with a $140 price target at Wedbush, but the firm added the stock to its Best Ideas List as the firm thinks that its Azure platform, Office 365 and enhanced AI capabilities, along with a major partner and sales force push, is a unique value proposition that puts Microsoft in a differentiated position to drive cloud sales for 2019 and beyond and help shape the future growth trajectory. This means that Microsoft would go over the $1 trillion dollar market cap during 2019. The stock closed up 1.4% at $110.97 a share on Friday, and its 52-week range is $87.08 to $116.18.
New Fortress Energy LLC (NYSE: NFE) has received multiple analyst calls as its quiet period ended. Shares closed at $14.00 on Friday, with a 2019 range of $12.90 to $14.26. Morgan Stanley started it as Overweight with a $19 target, and Barclays started coverage with an Equal Weight rating and a $16 price target. JMP started New Fortress Energy as Market Outperform and assigned an $18 price target, and Stifle has a Buy rating and $27 target.
Pfizer Inc. (NYSE: PFE) was started as Neutral and assigned a $45 price target (versus a $42.96 close) at UBS. It has a 52-week range of $34.32 to $46.47 and a consensus target price of $44.21.
Sociedad Química y Minera de Chile S.A. (NYSE: SQM) was downgraded to Hold from Buy with a $48 price target (versus a $44.37 close) at Deutsche Bank.
Spark Therapeutics Inc. (NASDAQ: ONCE) is being acquired by Roche, and its shares rallied 120% to $113.00 after the news. Cantor Fitzgerald downgraded Spark Therapeutics to Neutral but raised the price target to $114 from $80.
State Street Corp. (NYSE: STT) was downgraded to Underperform from Market Perform with a $70 price target (versus a $72.40 close) at Keefe Bruyette & Woods.
Vereit Inc. (NYSE: VER) was downgraded to Neutral from Outperform at Robert W. Baird. Trading at $8.11, it has a consensus target of $8.39 and a 52-week trading range of $6.52 to $8.38.
Vical Inc. (NASDAQ: VICL) was downgraded to Neutral from Buy at H.C. Wainwright.
Friday’s top analyst calls included Biogen, Broadcom, Citigroup, Equifax, Fitbit, Intel, Kraft Heinz, Merck, Roku, Under Armour, United Technologies, Zillow and many more.