Investing
Top Analyst Upgrades and Downgrades: Adobe, Energizer, Marvell, MongoDB, Royal Gold, Six Flags, State Street, SunPower, TripAdvisor and More
June 19, 2019 8:46 am
Last Updated: January 30, 2020 7:32 pm
Stocks were indicated to open higher marginally higher ahead of the FOMC decision and after Tuesday’s trade talk-induced rally. The market volatility has shaken out many investors, but those who have their eyes on the long ball still need to be considering how they want their portfolios and assets positioned for the second half 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 ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy. Other analyst calls cover stocks to sell or stocks to avoid.
We have provided these calls in a quick-hit summary for easy reading and additional comments and trading data have been added on some of the calls. The consensus analyst price targets mentioned and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations from Wednesday, June 19, 2019.
Adobe Inc. (NASDAQ: ADBE) was up 0.4% ahead of earnings, but the post-earnings reaction had shares up just over 4% at $288.50 on Wednesday. Wedbush Securities maintained its Neutral rating but raised its target up to $290 from $270 in the call. RBC maintained its Outperform rating and raised its target to $295 from $290. Barclays reiterated its Overweight rating but raised its target on Adobe to $330 from $303.
Energizer Holdings, Inc. (NYSE: ENR) was downgraded to Underweight from Neutral and its target price was cut down to $36 from $45 (versus $41.82 close) at JPMorgan. Energizer was indicated down 5.5% at $39.50 and it had a consensus analyst target price of $55.80.
KemPharm, Inc. (NASDAQ: KMPH) was started with a Buy rating and was assigned a $3.00 target price (versus $1.80 close) at H.C. Wainwright. KemPharm has a mere $51 million market cap and a 52-week range of $1.15 to $6.85.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was started with a Market Perform rating at Raymond James. Marvell closed up 3.5% at $24.55 ahead of the call and it had a consensus analyst target price of $27.14.
MongoDB, Inc. (NASDAQ: MDB) was reiterated as Buy at Stifel, and the firm raised its target price to $180 from $155 in its call. KeyBanc Capital Markets reiterated its Outperform rating and raised its target to $188 from $165. MongoDB closed up 0.8% at $166.36 and it had a consensus analyst target price of $154.33.
Netgear, Inc. (NASDAQ: NTGR) was started as Buy with $40 target price (versus $25.48 close) at Guggenheim. Its consensus analyst target price is $47.67 and its 52-week range is $24.63 to $78.30.
National CineMedia, Inc. (NASDAQ: NCMI) was started with an Outperform rating and was assigned a $8 target p[rice (versus $6.44 prior close) at Wedbush Securities. The firm feels that NCM is nimble enough to grow advertising revenue even if theater attendance levels fall short of expectations. That would offer a buffer to a variable box office environment and the firm is less concerned now about reserved seating driving later arrivals than in the past. NCM is expected to recoup ad dollars elsewhere, such as in-lobby during the early pre-show and by expanding digital packages for national ad spots.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.