Top Analyst Upgrades and Downgrades: Barrick Gold, CannTrust, Foot Locker, Inogen, L3Harris, Merck, Petrobras, Starbucks, Symantec, Tesla and More
L3Harris Technologies Inc. (NYSE: LHX), the amalgamated L3 and Harris, was started with a Buy rating at Vertical Research. Its shares closed at $189.13 ahead of the call, while the consensus target price is $204.70.
Marker Therapeutics Inc. (NASDAQ: MRKR) was started with an Outperform rating and assigned a $15 target price (versus a $7.87 close, after a 2.5% drop) at Oppenheimer. It has a consensus target price of $12.70 and a 52-week range of $4.18 to $10.92.
Merck & Co. Inc. (NYSE: MRK) was started with a Buy rating and assigned a $97 price target at Mizuho Securities. While the call implies roughly 14% upside to the target, the firm sees Keytruda driving Merck higher as the leader in immuno-oncology. Shares closed up nearly 1% at $85.51, in a 52-week range of $61.09 to $86.50 and with a consensus target price of $91.20.
Newmont Mining Corp. (NYSE: NEM) was downgraded to Market Perform from Outperform with a $45 price target at BMO Capital Markets. Shares closed up 1.4% at $38.44 and were indicated up 0.4% at $38.60. The 52-week range is $29.06 to $38.74, and the consensus target price is $41.71.
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, was started with a Buy rating and assigned a $21 price objective. It previously closed down 1.7% at $15.23, and last week’s big financing was actually somewhat successful, all things considered. The American depositary shares have a 52-week range of $10.07 to $17.90, and the previous consensus target price was $18.56.
Starbucks Corp. (NASDAQ: SBUX) saw its price target raised to $86 form $65 at Stifel. The firm noted that second-quarter same-store sales should come in above consensus expectations. Shares closed up 1.1% at $85.51, in a 52-week range of $48.40 to $85.58 and with a consensus target price of $79.88.
Symantec Corp. (NASDAQ: SYMC) was up big on news reports that Broadcom was in advanced talks to acquire the company. Wedbush noted that a $26 to $28 range would be where the deal would get done if so, but the firm has only a Neutral rating and $19 target, based on its own fundamental standalone value.
Tesla Inc. (NASDAQ: TSLA) shares closed down 1.1% on Tuesday ahead of its record deliveries, but the shares were last seen trading up 7% at $240.25 in Wednesday’s premarket. Credit Suisse maintained the Underperform rating it recently initiated, and it has a $189 price target.
Zacks has released its Bull of the Day, with BHP Group PLC (NYSE: BBL) as its top Buy-rated stock, noting that the estimates are pushing up in the right direction for this stock. Its Bear of the Day, Foot Locker Inc. (NYSE: FL), has tripped up a bit following its most recent earnings report.
Energy stocks have been in focus around the OPEC production cut extension, but oil gave back its gains and then some on Tuesday as the realization that OPEC is now being led. Goldman Sachs is still very positive on four large-cap energy companies that could all benefit from the actions taken. Stifel also recently still forecast that five oil and gas stock picks could even see their share prices potentially double.
Tuesday’s top analyst upgrades and downgrades included Cars.com, Comerica, Cummins, Enbridge, Lyft, Micron Technology, Roku, Stryker, Uber Technologies, Visa, Western Digital and many more.