Top Analyst Upgrades and Downgrades: Alibaba, Alphabet, Apple, Baidu, Box, Kohl's, Lyft, Netflix, Twitter, Uber, US Steel and More
Mirati Therapeutics Inc. (NASDAQ: MRTX) was raised to Buy from Neutral and the target price was raised to $132 from $76 at Citigroup.
Netflix Inc. (NASDAQ: NFLX) was raised to Buy from Hold and the price target was raised to $425 from $395 at Loop Capital. Shares closed down about 2% at $336.63. It has a 52-week range of $231.23 to $423.21 and a consensus analyst price of $387.03.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) was raised to Market Perform from Underperform at BMO Capital Markets. Shares closed down 2% at $105.95. It has a 52-week range of $84.41 to $139.91 and a consensus target price of $120.68.
Tencent Music Entertainment Group (NYSE: TME) was started with a Buy rating at Loop Capital.
Twitter Inc. (NYSE: TWTR) was started with a Buy rating at Loop Capital. Shares closed down 5.5% at $34.43. It has a 52-week range of $26.19 to $47.79 and a consensus target price of $39.50.
Uber Technologies Inc. (NYSE: UBER) was started with an Outperform rating and assigned a $55 target price at Oppenheimer. William Blair also started Uber as Outperform, and BTIG started it as Buy with a $77 price target. Meanwhile, SunTrust Robinson Humphrey started it with a Buy rating and a $56 price target, Needham started it as Buy with a $52 price target, and Goldman Sachs started Uber as Buy with a $56 price target. Shares closed up 2.1% at $41.25. It has a post-IPO range of $36.08 to $45.00 and a consensus target price of $57.67.
United States Steel Corp. (NYSE: X) was downgraded to Sell from an already cautious Neutral rating and the target price was slashed to $11 from $17 at Goldman Sachs. Shares closed up about 6% at $12.52. It has a 52-week range of $11.67 to $38.89 and a consensus target price of $19.43.
Wingstop Inc. (NASDAQ: WING) was raised to Buy from Hold and the price target was raised to $92 from $80 at Stifel.
The sentiment toward value stocks is shifting fast as the selloff picks up more steam, and Jefferies analysts have four great value plays for investors now. Merrill Lynch also has four stocks that have very limited exposure to trade and tariffs.
Credit Suisse’s global equity strategy team has noted that tariffs are now being used by the United States as a political tool rather than an economic one, which greatly increases the risk of escalation and an economic policy mistake, and thus the firm removed its tactical Overweight of equities in general. The firm maintained its Overweight stance on emerging markets and Japan.
There is a new player in crypto/blockchain as 14 major banks sign on to a new effort.
Monday’s top analyst calls included Alcon, Analog Devices, Big Lots, CACI, CenterPoint Energy, Cree, Lyft, Teva Pharmaceutical, WellCare Health Plans and many more.