Top Analyst Upgrades and Downgrades: AEP, Apple, Boeing, Coca-Cola, Eli Lilly, RingCentral, Tellurian, Tesla, Vonage and More
Eaton Corp. (NYSE: ETN) was raised to Overweight from Sector Weight with a $93 price target (versus an $80.31 close) at KeyBanc Capital Markets.
Eli Lilly & Co. (NYSE: LLY) was moved to Overweight from “Not Rated (due to restriction)” and the price target was lifted to $140 from a prior pre-restriction target of $128 at JPMorgan, and the firm added the stock to its Focus List. Shares closed down 2.5% at $123.50 on Monday and were indicated up 0.7% at $124.35 on Tuesday, in a 52-week range of $74.51 to $130.51.
F5 Networks Inc. (NASDAQ: FFIV) was downgraded to Neutral from Overweight at JPMorgan.
Hewlett Packard Enterprise Co. (NYSE: HPE) was downgraded to Sell from Neutral with a $13 price target (versus a $15.89 close) at UBS.
Janus Henderson Group PLC (NYSE: JHG) was raised to Overweight from Neutral at JPMorgan.
Liquidia Technologies Inc. (NASDAQ: LQDA) was reiterated as Outperform with a $48 price target (versus a $17.07 close) at Wedbush. The call follows the report of positive topline results from its pivotal Phase 3 INSPIRE trial for LIQ861, a potentially best-in-class dry powder formulation of inhaled treprostinil to treat pulmonary arterial hypertension.
Mellanox Technologies Ltd. (NASDAQ: MLNX) rose almost 8% to $117.89 on news it was being acquired by Nvidia. Barclays downgraded Mellanox to Equal Weight from Overweight but raised the price target to $125 from $108.
Monster Beverage Corp. (NASDAQ: MNST) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Regions Financial Corp. (NYSE: RF) was started as Outperform and assigned a $17 target price at BMO Capital Markets.
RingCentral Inc. (NYSE: RNG) was started with a Buy rating and assigned a $125 target price (versus a $104.56 close) at Guggenheim.
Stealth BioTherapeutics Corp. (NASDAQ: MITO) closed down 10.5% at $15.02 on Monday, but Nomura/Instinet started it as Buy with a $23 target and BMO Capital Markets started it as Outperform with a $29 target. The post-IPO trading range has been $11.11 to $20.99.
Tellurian Inc. (NASDAQ: TELL) was started with a Buy rating and assigned a $20 price target (versus a $9.47 close) at BTIG.
Tesla Inc. (NASDAQ: TSLA) saw its target price lowered to $260 from $283 with the same Equal Weight rating at Morgan Stanley. The firm also handily lowered earnings estimates to $1.30 from $4.17 per share for 2019. Morgan Stanley further noted that Tesla is overvalued fundamentally but may be undervalued from its future strategic opportunity. Shares closed up 2.4% at $290.92 on Monday but were indicated down about 1.5% at $286.70 on Tuesday.
Twilio Inc. (NYSE: TWLO) was started as Buy and assigned a $140 price target (versus a $122.09 close) at Guggenheim. The stock was indicated up almost 1% on Tuesday, and it had a consensus target price of $121.73.
Vonage Holdings Corp. (NYSE: VG) was started as Neutral with a $10 price target (versus a $10.18 close) at Guggenheim. The consensus target price is $15.83, and the 52-week trading range is $7.92 to $14.73.
Monday’s top analyst calls included Apple, China Mobile, Duke Energy, Facebook, JetBlue, Oracle, Spirit Airlines, TCR2 Therapeutics, Vivint Solar and many more.