Top Analyst Upgrades and Downgrades: Alcoa, AMD, Caterpillar, CSX, Intel, Nvidia, Raytheon, Suncor, Square, Walgreens and More
Incyte Corp. (NASDAQ: INCY) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
Intel Corp. (NASDAQ: INTC) was started with a Buy rating and assigned a $65 price target at Nomura/Instinet, which noted that Intel is dominating in its higher growth markets and that it has the ability grow its earnings per share faster than it may grow revenues. Intel closed down 0.3% at $54.36 and has a 52-week range of $42.36 to $57.60. The consensus price target is $53.32.
Intelsat S.A. (NYSE: I) was raised to Overweight from Neutral with a $27 price target at JPMorgan.
Nvidia Corp. (NASDAQ: NVDA) was started as Neutral and assigned a $147 price target at Nomura/Instinet. Shares closed up 0.4% at $183.00, in a 52-week range of $124.46 to $292.76 and with a consensus price target of $186.38.
Raytheon Co. (NYSE: RTN) was downgraded to Neutral from Buy and the price target was lowered to $200 from $220 at UBS. Shares closed up 0.6% at $185.81. The consensus price target is $205.76, and the 52-week trading range is $144.27 to $229.75.
Spirit Aerosystems Holdings Inc. (NYSE: SPR) was downgraded to Market Perform from Outperform at Cowen, with the firm citing exposure to the 737 MAX orders.
Square Inc. (NYSE: SQ) was started as Market Perform and assigned an $80 price target at Bernstein. It closed down 0.9% at $75.60, and it has a 52-week range of $43.72 to $101.15 and a consensus price target of $82.94.
Suncor Energy Inc. (NYSE: SU) was downgraded to In Line from Outperform at Evercore ISI.
Urban Outfitters Inc. (NASDAQ: URBN) was raised to Buy from Neutral and the $30 price target was raised to $36 at D.A. Davidson.
Verastem Inc. (NASDAQ: VSTM) was started as Overweight and assigned a $5 price target (versus a $3.03 close) at Cantor Fitzgerald.
Walgreens Boots Alliance Inc. (NASDAQ: WBA) was downgraded to Hold from Buy and the price target was lowered to $60 from $77 at Loop Capital. That was on the heels of the 12.8% share price drop after earnings and guidance disappointed investors so much that it hit a 52-week low on Tuesday’s news reaction. The stock now has a 52-week range of $55.00 to $86.31, and the consensus price target was last seen at $74.09.
Stifel is rather positive on three top semiconductor stocks.
Merrill Lynch has released its technical analysis on its Top 10 List stocks, and four of the stocks were shown to have the most positive fundamental and technical outlooks at this time.
Tuesday’s top analyst calls were in shares of Alcoa, Broadcom, Dow, Lyft, Netflix, Roku, Walt Disney, Wingstop, Xilinx and many more.