Top Analyst Upgrades and Downgrades: Aerojet Rocketdyne, Apple, Baidu, Biogen, Chesapeake Energy, Chipotle, McDonald’s, Nike, Procter & Gamble, Walgreens and More

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McDonald’s Corp. (NYSE: MCD) was reiterated as Overweight and the target price was raised to $215 from $195 at JPMorgan. McDonald’s was up almost 1% at $206.27 on Thursday and was indicated up about 30 cents from its closing price after the call. It has a 52-week range of $153.13 to $206.39 and a consensus target price of $216.92.

Netgear Inc. (NASDAQ: NTGR) was started with a Hold rating and assigned a $28 price target (versus a $25.99 close) at Deutsche Bank.

Nike Inc. (NYSE: NKE) reported that its quarterly revenue increased by 4% to $10.2 billion, but it was actually up 10% on a currency-neutral basis. Shares closed up 1.3% at $83.66 ahead of earnings, and the after-hours trading was looking for direction. Wedbush reiterated Nike as Outperform with a $96 target price.

Office Properties Income Trust (NYSE: OPI) was raised to Sector Perform from Underperform with a $27 target price (versus a $25.16 close, after a 3% gain) at RBC Capital Markets.

PagSeguro Digital Ltd. (NYSE: PAGS) was started as Overweight with a $41 target price (versus a $37.64 close) at Cantor Fitzgerald.

Patterson Companies Inc. (NASDAQ: PDCO) was reiterated as Underweight and the target price was cut to $20 from $22 at JPMorgan.

Plantronics Inc. (NYSE: PLT) was started as Outperform with a $50 target price (versus a $36.17 close) at Evercore ISI. The stock was indicated up 1.6% at $36.75 on Friday, and it had a prior consensus target price of $78.33.

Procter & Gamble Co. (NYSE: PG) was raised to Buy from Neutral at Goldman Sachs, which also raised its target price to $125 from $114. The firm called Procter & Gamble a clear beneficiary of end-market growth acceleration, and the team sees 3% growth continuing into the future.

Qualys Inc. (NASDAQ: QLYS) was started with a Buy rating at Nomura/Instinet, and the firm assigned a $108 target price in the call. Shares closed up 2.8% at $85.46, and the 52-week trading range is $65.94 to $98.30.

Rapid7 Inc. (NYSE: RPD) was started with a Buy rating at Nomura/Instinet, and the firm assigned a $70 target price. The stock closed up 4.4% at $55.79 and has a 52-week range of $26.27 to $58.74.

StoneCo Ltd. (NASDAQ: STNE) was started as Overweight with a $33 price target (versus a $28.80 close) at Cantor Fitzgerald.

Texas Roadhouse Inc. (NASDAQ: TXRH) was started with a Hold rating at Deutsche Bank, after closing up 2.3% at $54.42 and against a 52-week range of $50.84 to $75.24. It had a consensus target price of $60.50.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) was up 4.1% at $54.52 after beating lower earnings expectations on Thursday. JPMorgan maintained it as Overweight but lowered the target price to $73 from $74. Its consensus target price was $57.90.

Just about every major bank was just granted Federal Reserve approvals under the 2019 CCAR stress tests to increase their dividends and share buybacks starting July 1, 2019, through June 30, 2020.

Wells Fargo says that the highest telecom and communications yield of the S&P 500 (at 9%) is finally safe to buy.

After many false starts during the long bull market, value stocks may finally be ready to run. Goldman Sachs has screened for those that have solid upside potential, and here are five with big implied upside.

With this being the end of the second quarter, here are some additional groups of analyst calls. Thursday’s top analyst upgrades and downgrades included Advanced Micro Devices, CenturyLink, Delphi Technologies, General Motors, Ford, Intel, KB Home, Micron Technology, Nordstrom, Nvidia, Tesla, Zscaler and more. Wednesday’s top analyst calls were in AbbVie, Archer Daniels Midland, ConocoPhillips, FedEx, Fox, Kinder Morgan, Lennar, Micron Technology, Slack Technologies and Virtu Financial and many more.

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