Investing

Top Analyst Upgrades and Downgrades: Bunge, Carbonite, FedEx, Kinder Morgan, Micron, Monster Beverage, Teva, Western Digital and More

Jon C. Ogg

Micron Technology Inc. (NASDAQ: MU) closed down 2.7% at $39.23 on Wednesday after Infineon warned and after IHS Market projected weaker DRAM demand trends for 2019. RBC Capital Markets reinstated Micron as Outperform, up from a prior Market Perform rating.

Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Outperform and was named as a Top Pick at Credit Suisse.

Pebblebrook Hotel Trust (NYSE: PEB) was started with a Neutral rating at Citigroup.

SeaWorld Entertainment Inc. (NYSE: SEAS) was raised to Buy from Neutral at B. Riley FBR. After closing up 1.6% at $24.62 on Wednesday, its shares were indicated up 2.5% at $25.24 on Thursday morning.

Spirit Airlines Inc. (NYSE: SAVE) saw its target price lowered to $83 from $92 at Imperial Capital. The firm noted that current valuations on the shares are attractive due to rational capacity additions and unit revenue growth driven by higher ancillaries. The consensus price target for the budget airline is $76.38. The stock ended trading on Wednesday at $53.21.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was started with a Market Perform rating at BMO Capital Markets.

Trex Co. Inc. (NYSE: TREX) was raised to Buy from Hold and the price target was raised to $72 from $70 at Stifel. Shares closed down 4.8% at $59.51 on Wednesday, and the consensus target price is $79.50.

Western Digital Corp. (NASDAQ: WDC) was reinstated with an Outperform rating (versus a prior Market Perform rating) at RBC Capital Markets. The stock closed down 3.6% at $45.38 on Wednesday, along with a weak memory and chip sector.

Verint Systems Inc. (NASDAQ: VRNT) was reiterated as Outperform and the price target was raised to $63 from $58 (versus a $51.54 close) at Wedbush Securities. The consensus target price is $57.71.

Winnebago Industries Inc. (NYSE: WGO) was started with a Hold rating a $31 price target at Jefferies. The consensus target for the recreational vehicle giant is up at $42.20. The stock closed Wednesday at $29.99, up almost 4% on the day.

Sector Reviews: Five retail stocks are blowing away Amazon in performance in 2019, and the Dow Jones industrials may get a new best-performing drug stock. More weak demand trends being forecast for the DRAM market in memory for 2019. Merrill Lynch’s top yielding picks from its key US 1 list.

Wednesday’s top analyst calls were in American Water Works, Boeing, Carnival, Chipotle Mexican Grill, Kinder Morgan, Palo Alto Networks, Ralph Lauren, Square and many more.