Top Analyst Upgrades and Downgrades: AMD, Altria, Apple, BP, EA, Enphase, FireEye, Gilead, Mastercard, P&G, 2U and More

Investing

Published: July 31, 2019 9:03 am

Last Updated: January 30, 2020 5:53 pm

Stocks saw profit-taking on Tuesday, but the major indexes were up on Wednesday ahead of the Federal Reserve’s expected interest rate cut in the afternoon. Earnings season is proving to be quite mixed and creating some very big wins or bad misses on individual stock prices. With all the trade uncertainty dominating the news, the major stock market indexes remain rather close to all-time highs. Investors have many reasons to remain cautious but also have to be considering how they want their assets positioned for the rest 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 investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These were the top analyst upgrades, downgrades and initiations seen on Wednesday, July 31, 2019.

Advanced Micro Devices Inc. (NASDAQ: AMD) was up 1.1% at $33.87 ahead of earnings but was down 3.6% at $32.65 on Wednesday after giving some light guidance. Craig-Hallum downgraded the shares to Hold from Buy, but Wedbush Securities reiterated its Outperform rating and $39 target price. Morgan Stanley reiterated an Equal Weight rating and raised its target to $30 from $28.

Altria Group Inc. (NYSE: MO) was reiterated as Underweight and the price target was cut to $48 from $49 at Morgan Stanley.

Apple Inc. (NASDAQ: AAPL) was down 0.4% at $208.78 ahead of earnings, but the post-earnings reaction had the stock indicated up about 4% at $217.54 on Wednesday morning. The ongoing positive is that there was a better than expected September guidance and China was better than had been feared. Monness Crespi & Hardt reiterated its Buy rating and raised its target to $265 from $245. Wedbush reiterated its Outperform rating with a $245 target. Canaccord Genuity reiterated its Buy rating and raised its target to $240 from $220. Deutsche Bank reiterated its Hold rating but raised its target to $210 from $205, and Citigroup reiterated its Buy rating and raised its Apple target to $250 from $205.

BP PLC (NYSE: BP) was raised to Buy from Hold at Jefferies.

8X8 Inc. (NASDAQ: EGHT) was downgraded to Sell from Neutral at B. Riley FBR. Morgan Stanley reiterated its Overweight rating and raised its target to $28 from $26.

Electronic Arts Inc. (NASDAQ: EA) was raised to Outperform from Market Perform at Cowen.

Enphase Energy Inc. (NASDAQ: ENPH) was up 2.1% at $21.65 on Tuesday ahead of earnings, but it was indicated up 16% at $25.20 on Wednesday after strong revenues. H.C. Wainwright raised its rating to Buy from Neutral.

FireEye Inc. (NASDAQ: FEYE) was down 0.5% at $16.10 ahead of earnings, but the shares were last seen down 11.5% at $14.25 on Wednesday morning. Wedbush maintained its Neutral rating on FireEye and cut its target to $15 from $17, calling its quarter and guidance another dark chapter for the company and its investors alike.