Investing
Top Analyst Upgrades and Downgrades: Alcoa, AMD, Caterpillar, CSX, Intel, Nvidia, Raytheon, Suncor, Square, Walgreens and More
April 3, 2019 8:45 am
Last Updated: January 30, 2020 10:32 pm
Stocks were indicated higher on Wednesday as the markets are expecting a trade pact with the United States and China, unlocking the recent trade gaps and issues between the nations. The market’s major indexes are still up by double-digits year to date in 2019, and investors need to be considering how to position their investments and assets for the rest of the year and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new trading and investing ideas for our readers. Some of the daily analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.
Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday, April 3, 2019.
Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Buy rating at Nomura/Instinet, which noted that AMD’s high revenue growth and profit growth justify an elevated earnings multiple and the company may have upside to the estimates ahead. Shares closed up 1.5% at $26.75 and have a 52-week range of $9.04 to $34.14 and a consensus price target of $24.86.
Alcoa Corp. (NYSE: AA) was downgraded to Neutral from Buy at Merrill Lynch.
Benefitfocus Inc. (NASDAQ: BNFT) was started as Overweight with a $60 target price at Cantor Fitzgerald. Shares closed down 2.8% at $45.95, in a 52-week range of $22.88 to $60.66. The consensus price target is $56.56.
Caterpillar Inc. (NYSE: CAT) was downgraded to Hold from Buy with a $128 price target at Deutsche Bank. The firm noted that its biggest risk is if the backlog turns negative, which it sees as likely within the next quarter. Shares closed at $140.19, in a 52-week range of $112.06 to $161.60. The consensus price target is $143.95.
CommScope Holding Co. Inc. (NASDAQ: COMM) was raised to Strong Buy from Outperform and the target price was set at $32 (versus a $22.83 prior close) at Raymond James. This is just after a rival analyst call from Credit Suisse forecast 50% upside based on the CommScope/Arris merger opportunities. The stock has a 52-week range of $15.09 to $41.60 and a consensus price target of $26.88.
CSX Corp. (NYSE: CSX) was downgraded to Neutral from Positive at Susquehanna.
Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Electronic Arts Inc. (NASDAQ: EA) was reiterated as Overweight and the price target was raised to $114 from $111 (versus a $100.84 close) at Piper Jaffray, with the firm talking up the success and popularity of Apex Legends, which was recently released.
Enterprise Products Partners L.P. (NYSE: EPD) was raised to Buy from Neutral and the target price was raised to $32 from $30 at Goldman Sachs. Shares closed up 0.4% at $29.47. The 52-week range is $23.33 to $30.05, and the consensus price target is $33.41.
Grubhub Inc. (NYSE: GRUB) was started with a Buy rating and assigned a $95 price target at BTIG, sending shares north by 2% to $72.00 in early trading indications on Wednesday.
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