Top Analyst Upgrades and Downgrades: AGCO, Apple, Caterpillar, Cisco, Deere, Evergy, Levi Strauss, Paypal, Slack, Urban Outfitters and More
Evergy Inc. (NYSE: EVRG) managed to close up a whole two cents despite Wednesday’s selling pressure, and its shares hit an all-time high of $64.38 as well. Wells Fargo downgraded it to Market Perform from Outperform based on valuation.
Host Hotels & Resorts Inc. (NYSE: HST) was downgraded to Neutral from Buy at BTIG.
Levi Strauss & Co. (NYSE: LEVI) was down 5.6% at $16.25 during Wednesday’s sell-off. Bank of America upgraded it to Buy from Neutral after the shares hit a post-IPO low, but its price objective was cut to $20 from $25 in the call. The post-IPO trading range is $16.00 to $24.50, and the consensus price target is $24.00.
Manhattan Associates Inc. (NASDAQ: MANH) was started as Buy with a $100 target price (versus an $81.80 close) at Rosenblatt.
Paychex Inc. (NASDAQ: PAYX) was downgraded to Underweight from Equal Weight and its target price was lowered to $74 from $77 at Morgan Stanley.
PayPal Inc. (NASDAQ: PYPL) was reiterated as Outperform with a $140 target priced (versus a $106.04 close) at Wedbush. The firm’s call comes after meeting with the company to evaluate recent executive departures, its 2019 guidance reset and thoughts on 2020 guidance.
Pivotal Software Inc. (NASDAQ: PVTL) is reportedly in talks to be acquired by VMware (with Dell and VMware already owning about 65% of the company), but Wedbush maintained its Neutral rating and $15 target price, noting that the acquisition would end the dark days for Pivotal.
Slack Technologies Inc. (NYSE: WORK) was down 1.5% at $30.76 during Wednesday’s selling, but it was indicated up 3.4% at $31.80 on Thursday. Bernstein started it as Market Perform with a $31 target price.
Urban Outfitters Inc. (NASDAQ: URBN) was downgraded to Neutral from Buy and the target price was slashed to $23 from $38 (versus a $20.25 prior close, after a 7.4% drop) at B. Riley. Urban Outfitters was indicated down about 1.5% at $19.95 on Thursday and was going to hit another 52-week low.
Zacks has named GW Pharmaceuticals PLC (NASDAQ: GWPH) as its Bull of the Day, saying that this is a success story in cannabis medicine, 20 years in the making, and is now rapidly growing sales. The Bear of the Day is NetApp Inc. (NASDAQ: NTAP). Zacks noted that warnings of trouble in the cloud/big data industry will now get worse after the Cisco quarterly report.
Wednesday’s top analyst calls included Acorda Therapeutics, Activision Blizzard, Bloom Energy, Care.com, CBS, Deere, Ferrari and many more.