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Top Analyst Upgrades and Downgrades: Alibaba, Dillard's, Home Depot, Jumia, Lowe's, Slack, SQM, Target, Wayfair and More

Slack Technologies Inc. (NYSE: WORK) was started as Buy with a $40 price target at MKM Partners, with the firm noting that it trades at a discount in some metrics to many of its semi-peers. Shares closed up about 1% at $30.80 on Wednesday and were indicated to open up 3.2% at $31.80 on Thursday.

Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) was downgraded to Underweight from Neutral and the target price was lowered to $23 from $20 (versus a $25.43 prior close, after a 3.1% drop) at JPMorgan. SQM was indicated down 6.6% at $23.70 on Thursday, and its prior consensus target price had been closer to $41.

Splunk Inc. (NASDAQ: SPLK) was down 3.8% at $123.35 after beating earnings and signaling slower cash flow expectations, but it also announced a $1.05 billion acquisition of SignalFx. Wedbush Securities reiterated its Outperform rating with a $153 target price.

Synopsis Inc. (NASDAQ: SNPS) was reiterated as Outperform and the target price was raised to $160 from $150 (versus a $131.84 close) at Wells Fargo. KeyBanc Capital Markets reiterated it as Overweight and raised the target price to $153 from $152. Shares were indicated up 2.4% at $135.00 on Thursday, and the consensus target price was $133.88.

Target Corp. (NYSE: TGT) was up 20.4% at $103.00 on Wednesday after earnings, and the shares were indicated up another 1% or so on Thursday. Buckingham Research reiterated its Buy rating, but the price target was raised to $117 from $102. Morgan Stanley maintained its Equal Weight rating but launched its target price higher to $107 from $76 in the call. Citigroup upgraded Target to Buy from Neutral and raised its target to $130 from $80, and KeyBanc Capital Markets reiterated its Overweight rating and raised its target price to $120 from $110.

Tiffany & Co. (NYSE: TIF) was maintained as Outperform but the target price was cut to $100 from $115 at Oppenheimer. The stock closed up 2.7% at $84.53 on Wednesday and was indicated down marginally on Thursday. Its consensus target price was $107.64.

USANA Health Sciences Inc. (NYSE: USNA) was started with a Hold rating at Jefferies.

Wayfair Inc. (NYSE: W) was raised to Buy from Hold with a $150 target price (versus a $115.09 close) at Stifel.

There are 15 great defensive stocks everyone will want to own ahead of the next major sell-off or a recession, but there is just one major problem: their valuations are at such nosebleed valuation levels that they might not be as defensive as thought for the past five years or more.

RBC Capital Markets is maintaining its positive views on four top chip stocks despite the China/trade-led volatility in the semiconductor space.

We have been quick to point out how energy stocks have been battered and then battered again all throughout 2019, but there are seven big cap oil and gas players that analysts on Wall Street want their firms’ clients buying now for big upside ahead.

Wednesday’s top analyst upgrades and downgrades included Baidu, BP, Ciena, Chevron, Cree, Exxon Mobile, Home Depot, Medtronic, Nvidia and Urban Outfitters and many more.