Top Analyst Upgrades and Downgrades: Allstate, Corning, DexCom, Lam Research, On Deck, Qualcomm, Spotify, Western Digital, Whiting Petroleum and More
Equinix Inc. (NASDAQ: EQIX) was reiterated as Strong Buy and the price target was raised to $560 from $520 at Raymond James. Wells Fargo reiterated it as Outperform and raised the target price to $545 from $500.
Fresenius Medical Care A.G. & Co. KGaA (NYSE: FMS) was downgraded to Neutral from Buy at BTIG.
FMC Corp. (NYSE: FMC) was downgraded to Neutral from Buy at Merrill Lynch. Shares closed up 1.9% at $86.42, in a 52-week range of $60.16 to $87.99. The consensus target price is $95.95.
Lam Research Corp. (NASDAQ: LRCX) was reiterated as Overweight and the price target was raised to $252 from $236 at KeyBanc Capital Markets. Shares closed down 1.3% at $208.61, in a 52-week range of $122.64 to $218.49. The consensus target price is $218.21.
On Deck Capital Inc. (NYSE: ONDK) was downgraded to Neutral from Buy at UBS.
Qualcomm Inc. (NASDAQ: QCOM) was down 2.2% to $73.16 ahead of earnings but was indicated down almost 8% more to $67.50 on Thursday morning after the report. Merrill Lynch maintained its Buy rating but cut the price objective to $100 from $105.
SBA Communications Corp. (NASDAQ: SBAC) was downgraded to Neutral from Overweight but the target price was raised to $270 from $220 at JPMorgan.
Silicon Motion Technology Corp. (NASDAQ: SIMO) closed down 11.4% at $36.20 on Wednesday, as a revenue miss overshadowed stronger earnings. JPMorgan downgraded it to Neutral from Overweight and cut the target price to $40 from $50.
Spotify Technology S.A. (NYSE: SPOT) was raised to Hold from Sell at Loop Capital. Shares closed at $154.94, in a 52-week range of $103.29 to $196.95. The consensus target price is $167.47.
U.S. Bancorp. (NYSE: USB) was downgraded to Neutral from Outperform with a $59 price target at Macquarie.
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) was raised to Buy from Neutral with a $19 target price at Citigroup.
Western Digital Corp. (NASDAQ: WDC) was raised to Neutral from Underperform with a $54 target price at Wedbush Securities. The firm’s base case was that poor demand would continue to pressure NAND pricing through 2019 and that would lead to earnings and margin compression. Shares closed down 4.8% at $53.89, in a 52-week range of $33.83 to $69.55. The consensus target price is $53.52.
Whiting Petroleum Corp. (NYSE: WLL) was last seen indicated down 22% at $13.75 on Thursday morning after it posted a loss and said it was cutting one-third of its staff as its lowered its output targets. Merrill Lynch maintained its Buy rating but cut its price objective to $28 from $32. Oppenheimer downgraded the shares to Perform from Outperform, and Ladenburg Thalmann downgraded the stock to Neutral from Buy. Shares closed up 2.8% at $17.68, in a 52-week range of $14.74 to $55.17. The consensus target price is $29.48.
Wednesday’s top analyst calls included Advanced Micro Devices, Altria, Apple, BP, Electronic Arts, Enphase Energy, FireEye, Gilead Sciences, Mastercard, Procter & Gamble, U.S. Bancorp and many more.