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Top Analyst Upgrades and Downgrades: Agilent, Allergan, Beyond Meat, Canopy Growth, Dollar Tree, Facebook, Luckin Coffee, Lyft, Mylan, Symantec, Tilray, Wells Fargo and More

Jon C. Ogg

Published: June 11, 2019 8:55 am

Last Updated: January 30, 2020 7:48 pm

Stocks were indicated to open higher yet again on Tuesday, as June has turned into a complete role reversal from May’s “sell in May” theme that was winning. Investors need to be considering how they want their portfolios and assets positioned for the rest of 2019 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 calls cover stocks to buy, but others cover stocks to sell or to avoid.

We have provided these calls in a quick-hit summary for easy reading. Additional commentary and trading data have been added on some of the most important and interesting 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 on Tuesday, June 11, 2019.

Agilent Technologies Inc. (NYSE: A) was started as Overweight and assigned an $83 target price at Piper Jaffray. The stock closed up 1.1% at $70.29. It has a 52-week range of $60.42 to $82.27 and a consensus target price of $87.50.

Allergan PLC (NYSE: AGN) was started as Underweight with a $133 target price at Barclays. The stock closed down 0.4% at $126.61. It has a 52-week range of $120.68 to $197.00 and a consensus target price of $178.84.

AMAG Pharmaceuticals Inc. (NASDAQ: AMAG) was started as Overweight with a $19 target price at Barclays.

Avantor Inc. (NYSE: AVTR) was started as Buy and assigned a $20 target price at Goldman Sachs. Avantor was also UBS assigned a $21 target price and has a new Buy rating. KeyBanc Capital Markets assigned a Sector Weight rating, while Deutsche Bank started the stock at Buy. Its shares closed up 0.6% at $17.30 on Monday and were indicated up 1.1% at $17.50 on Tuesday. The initial public offering priced at $14 for 205 million shares, with the original offering indicated at 154 million shares but in an $18 to $21 range.

Beyond Meat Inc. (NASDAQ: BYND) was downgraded to Neutral from Overweight at JPMorgan, which raised the price target to $121 from $120 in the call. This is a valuation downgrade where Beyond Meat now reflects its full profit and growth potential (and maybe then some) in the firm’s downgrade. After rising 21% to $169.10 on Monday, the shares were last seen down 9% at $152.95.

Canopy Growth Corp. (NYSE: CGC) was started with a Neutral rating at Compass Point. Shares closed up 3.7% at $43.76, in a 52-week range of $24.21 to $59.25.

Dollar Tree Inc. (NASDAQ: DLTR) was raised to Overweight from Neutral with a $122 price target at JPMorgan, with the firm noting that it has good metrics and sees improvements being implemented for consumers at its Family Dollar chain. The stock closed up 1.1% at $103.78. It has a 52-week range of $78.78 to $111.61 and a consensus target price of $111.40.

Endo International PLC (NASDAQ: ENDP) was started as Equal Weight and assigned a $6 target price at Barclays.

Facebook Inc. (NASDAQ: FB) was raised to Buy from Neutral at Moffett Nathanson, with the upgrade noting that multiple concerns of the firm from last year now have been addressed and are being worked through. The stock closed up 0.9% at $174.82. It has a 52-week range of $123.02 to $218.62 and a consensus target price of $221.50.

Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) was started as Overweight and assigned a $10 target price (versus a $2.50 prior close) at Barclays.

Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) was started as Overweight with a $164 price target (versus a $129.15 close) at Barclays.

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JetBlue Airways Corp. (NASDAQ: JBLU) was raised to Buy from Neutral and the price target was raised to $26 from $19.50 (versus an $18.25 prior close) at Citigroup. JetBlue has a 52-week range of $15.19 to $20.14, and its shares were indicated up over 3% at $18.90 on Tuesday.

Luckin Coffee Inc. (NASDAQ: LK) was started as Overweight and assigned a $22 price target at KeyBanc Capital Markets. Morgan Stanley started it as Equal Weight and with a $21 target price.

Lyft Inc. (NASDAQ: LYFT) was raised to Positive from Neutral at Susquehanna, and the price target was raised to $80 from $57. The stock closed down 4.2% at $56.76. It has a post-IPO range of $47.17 to $88.60 and a consensus target price of $73.21.

Mylan N.V. (NASDAQ: MYL) was started as Overweight with a $26 target price at Barclays. The stock closed up 1% at $17.57. It has a 52-week range of $16.63 to $42.50 and a consensus target price of $31.56.

New Age Beverages Corp. (NASDAQ: NBEV) was started with a Buy rating and assigned a $9 target price at Compass Point.

Raytheon Co. (NYSE: RTN) is merging with UTC and was downgraded to Hold from Buy at Vertical Research. Shares closed up just 0.7% at $187.19 on the news, largely because it was a merger of equals and partly because of a Trump tweet about concerns over a big merger and other regulatory review comments made elsewhere. The stock closed up 0.7% at $187.19. It has a 52-week range of $144.27 to $212.26 and a consensus target price of $208.24.

Shutterfly Inc. (NASDAQ: SFLY) is being acquired by Apollo for $51 per share in an all-cash buyout. Thus, Raymond James downgraded it to Market Perform from Outperform and SunTrust Robinson Humphrey downgraded it to Hold from Buy.

Symantec Corp. (NASDAQ: SYMC) was downgraded to Underweight from Equal Weight and the target price was lowered to $14 from $23 at Morgan Stanley. The stock closed up 0.3% at $19.21. It has a 52-week range of $17.43 to $24.77 and a consensus target price of $21.02.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was started as Underweight and assigned an $8 target price at Barclays.

Tilray Inc. (NASDAQ: TLRY) was started as Neutral and assigned a $41 price target at Compass Point.

Wells Fargo & Co. (NYSE: WFC) was downgraded to Underweight from Neutral at Atlantic Equities, based on a lower outlook for interest rates and based on higher competition for customer deposits.

Zimmer Biomet Holdings Inc. (NYSE: ZBH) was raised to Market Perform from Underperform at Bernstein.

Zoetis Inc. (NYSE: ZTS) was started as Overweight and assigned a $120 price target at Barclays.

Data center REITs continue to offer investors some of the best total return potential, and Deutsche Bank has three top companies that are rated Buy.

Monday’s top analyst calls included Analog Devices, At Home, Boston Beer, PagSeguro Digital, Redfin, Sirius XM, United Technologies and many more.