Lyft Inc. (NASDAQ: LYFT) was the big analyst call of the day with a slew of Wall Street initiating coverage now that its quiet period has ended.
- Stifel started Lyft as Buy with a $68 price target.
- JPMorgan started it as Overweight with an $82 price target.
- Piper Jaffray started it as Overweight with a $78 price target.
- UBS started it with a Buy rating and an $82 target.
- Canaccord Genuity issued a new Buy rating with a $75 target price.
- Credit Suisse started it as Outperform with a $95 price target.
- Cowen started it as Outperform with a $77 target price.
- KeyBanc Capital Markets started it at Sector Weight with a $67 target.
Lyft had closed up 4.4% at $60.94 ahead of the calls, and Tuesday’s indications had the shares up 2.3% at $62.35. The post-IPO trading range has been $55.56 to $88.60.
MercadoLibre Inc. (NASDAQ: MELI) was downgraded to Neutral from Overweight with a $492 target price at JPMorgan. Shares closed at $490.77, in a 52-week range of $257.52 to $527.09 and with a consensus target price of $463.00.
Public Service Enterprise Group Inc. (NYSE: PEG) was downgraded to Neutral from Overweight at JPMorgan.
Qualcomm Inc. (NASDAQ: QCOM) was raised to Overweight from Equal Weight and the price target was raised to $95 from $55 at Morgan Stanley after a massive recovery was seen with the Apple settlement announced in the past week. Shares closed at $81.97, in a 52-week range of $48.56 to $82.52 and with a consensus target price of $68.48.
Roku Inc. (NASDAQ: ROKU) was started as Positive with an $80 price target at Susquehanna, with the call that its design was built for low-cost TV hardware while its competitors are more wired for smartphones and tablets, which should help its long-term profits along with its unbiased content platform. Shares closed at $58.20, in a 52-week range of $26.30 to $77.57 and with a consensus analyst target of $67.45.
Sanderson Farms Inc. (NASDAQ: SAFM) was raised to Neutral from Sell at Goldman Sachs.
Visteon Corp. (NYSE: VC) was raised to Outperform from Neutral and the target price was raised to $108 from $87 at Robert W. Baird.
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SunTrust Robinson Humphrey has three semiconductor stocks it likes heading into earnings, despite a massive run-up seen in the key stocks and sector ETFs so far in 2019.
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S&P Global sees U.S. gross domestic product rising by 2.0% in the first quarter of 2019 on a quarterly annualized basis. That is down from the 2.2% growth in the fourth quarter of 2018, but it is up handily from prior expectations. On a comparative year-over-year basis, U.S. GDP would then downtick slightly to 2.9% in the first quarter of 2019 from the 3.0% recorded in the fourth quarter of 2018.
Monday’s top analyst calls included Amazon.com, Dover, Facebook, Lam Research, Newmont Mining, Occidental Petroleum, Six Flags, Tesla, 3D Systems and many more companies.