Top Analyst Upgrades and Downgrades: Agilent, Amazon, American Water Works, Crocs, Deere, GE, Gilead, Slack, Teva and More

July 15, 2019 by Jon C. Ogg

Stocks were indicated to open marginally higher on Monday, with the indexes effectively at all-time highs based on communication from Federal Reserve Chair Jerome Powell that the agency is expected to deliver interest rate cuts this month. With the bull market now well over 10 years old, this is a time when investors should be considering exactly 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 calls cover stocks to sell or 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 and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These are the top analyst upgrades, downgrades and initiations on Monday, July 15, 2019.

Agilent Technologies Inc. (NYSE: A) was downgraded to Equal Weight from Overweight and the target was cut to $78 from $86 (versus a $71.65 prior close) at Barclays. It has a consensus target price of $83.64 and a 52-week trading range of $61.01 to $82.27.

Alkermes PLC (NASDAQ: ALKS) was raised to Neutral from Sell with a $27 target price at Goldman Sachs.

Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Overweight and the price target was raised to $2,300 from $2,100 at Morgan Stanley. Amazon closed up 0.5% at $2,011.00 on Friday. It has a 52-week range of $1,307.00 to $2,050.50 and a consensus target price of $2,234.41.

American Water Works Co. Inc. (NYSE: AWK) was downgraded to Underperform from Neutral at Merrill Lynch.

Boot Barn Holdings Inc. (NYSE: BOOT) was downgraded to Neutral from Buy with a $33 target price at Citigroup.

Crocs Inc. (NASDAQ: CROX) was raised to Overweight from Neutral and the target price was raised to $27 from $22 at Piper Jaffray.

Deere & Co. (NYSE: DE) was raised to Buy from Neutral at Merrill Lynch. Shares closed up 2.6% at $165.37, in a 52-week range of $128.32 to $169.99. The consensus target price is $165.78.

Endo International PLC (NASDAQ: ENDP) was downgraded to Underweight from Equal Weight and the target price was slashed to $3 from $9 at Morgan Stanley. Shares closed up 3.5% at $4.10 on Friday, but they were indicated down 4% at $3.94 on Monday.

Fiserv Inc. (NASDAQ: FISV) was reiterated as Outperform and the price target was raised to $105 from $95 at Wedbush Securities. The higher target is said to reflect multiple positives, including FDC-related revenue/cost synergies and potential strategic benefits from creating a two-sided platform serving merchants and intermediaries.

General Electric Co. (NYSE: GE) was downgraded to Neutral from Buy and the target price was lowered to $11.50 from $14.00 at UBS. Shares closed up 2.6% at $10.37, in a 52-week range of $6.40 to $13.41. The consensus target price is $12.69.

Gilead Sciences Inc. (NASDAQ: GILD) was raised to Outperform from Market Perform and the target price was raised to $88 from $68 at Wells Fargo.

Global Payments Inc. (NYSE: GPN) was reiterated as Outperform and the price target was raised to $185 from $168 at Wedbush. The firm noted that revenue and cost synergies from the Total Systems acquisition will exceed management’s stated guidance and objectives.

Grocery Outlet Holding Corp. (NASDAQ: GO) was up 2% to $33.81 ahead of its quiet period expiration, with a post-IPO range of $27.75 to $35.63. Merrill Lynch started the stock as Neutral and started Goldman Sachs it as Neutral. It also was started as Equal Weight at Morgan Stanley.