Top Analyst Upgrades and Downgrades: Cars.com, Comerica, Cummins, Enbridge, Lyft, Micron, Roku, Stryker, Uber, Visa, Western Digital and More
Lyft Inc. (NASDAQ: LYFT) was reiterated as Buy at Stifel, and the firm raised its target price to $76 from $70 as its $62.00 share price is $10 lower than the IPO price.
Paccar Inc. (NASDAQ: PCAR) was downgraded to Sell from Hold and the target price was lowered to $62 from $68 (versus a $72.24 close) at Loop Capital.
Roku Inc. (NASDAQ: ROKU) was downgraded to Sector Perform from Outperform at RBC Capital Markets. The call is after strong year-to-date gains of nearly 200%, and the firm believes the gain was justified based on continued robust growth and profitability. It is now more balanced on a risk/reward basis, but analyst Mark Mahaney would be more constructive again if Roku shares saw any major pullback.
Stryker Corp. (NYSE: SYK) was downgraded to In-Line from Outperform at Evercore ISI. It closed up 0.5% at $206.54 and was indicated down 1% at $204.50 after the call.
STMicroelectronics N.V. (NYSE: STM) was up 4.1% at $18.35 with other chip players with ties to China and Asia. Credit Suisse has reiterated its Outperform rating as its sector and company exposure (including Apple and Huawei) will help under the trade war ceasefire.
TJX Companies Inc. (NYSE: TJX) was reiterated as Buy with a $62 price target (versus a $52.96 close) at Argus. The independent research firm noted that TJX has exceptional financial strength, cost efficiencies and an ability to deliver value-priced merchandise in an increasingly competitive retail environment.
Uber Technologies Inc. (NYSE: UBER) was started with a Hold rating and a $50 target at Stifel, with the firm noting that it will be a long road to profitability.
Visa Inc. (NYSE: V) was reiterated as Outperform with a $187 target price at Wedbush Securities. Visa closed up 0.2% at $173.94 on Monday and has a consensus target price of $182.14. Wedbush believes that Facebook’s Libra is an unlikely disruptor.
Watts Water Technologies Inc. (NYSE: WTS) was downgraded to Neutral from Buy at Janney, with the firm noting it as a valuation call as its price target was achieved. Shares closed at $93.26, and the consensus target price was $89.67.
Western Digital Corp. (NASDAQ: WDC) was downgraded to Sell from Hold with a $40 price target at Benchmark. Shares closed up 4.4% at $49.65 on Monday, but they were indicated down almost 3% at $48.20 on Tuesday. The consensus target price was $51.94.
Zacks has released its Bull of the Day with Trade Desk Inc. (NASDAQ: TTD) as its top Buy-rated stock, noting that the next generation advertising platform gives marketers precision data to target billions of consumers on every channel and device. Its Bear of the Day, a strong sell pick, is Micron Technology Inc. (NASDAQ: MU), after seeing that even with top-line and bottom-line surprises analysts took down their 2020 estimates another 23% on weak global demand.
Goldman Sachs is very positive on four big energy stocks that could benefit from OPEC agreeing to continue with the production cuts that were in place.
Monday’s top analyst calls included Apple, Carnival, Generac, Lyft, Six Flags, Square, Tecnoglass, Yum! Brands, Western Digital, Zoetis and many more companies.