Investing

Top Analyst Upgrades and Downgrades: Altria, Apple, BJ's, Exxon, Gap, HP, Salesforce, VMware and More

Jon C. Ogg

L Brands Inc. (NYSE: LB) was downgraded to Sector Perform from Outperform and the target price was cut to $22 from $30 at RBC Capital Markets. Morgan Stanley maintained its Equal Weight rating but lowered its target all the way to $18 from $34. L Brands saw its shares drop 3.5% to $19.33 on Thursday, and the stock was down another 4.1% at $18.55 on Friday.

LG Display Co. Ltd. (NYSE: LPL) was named as the Zacks Bear of the Day stock. The firm said that estimates have fallen but there still may be hope.

Macy’s Inc. (NYSE: M) was downgraded to Hold from Buy at Guggenheim. The retailer had a rough week after earnings, and the stock closed down at $15.56 on Thursday, in a 52-week range of $15.35 to $38.35.

MobileIron Inc. (NASDAQ: MOBL) was named as the Bull of the Day at Zacks, which said that this tech stock looks to be breaking out and will soon challenge new highs.

Nxt-ID Inc. (NASDAQ: NXTD) was downgraded to Hold from Buy at Maxim Group.

Ross Stores Inc. (NASDAQ: ROST) was up 1.6% at $107.40 ahead of earnings, but its shares were last seen down 4.2% at $102.90 after earnings with the disclosure that tariffs would impact the bottom line. Citigroup reiterated it as Neutral but raised the target price to $104 from $94. Deutsche Bank reiterated its Buy rating and raised its target to $113 from $107, and MKM Partners reiterated its Buy rating and raised its target to $114 from $102.

Salesforce.com Inc. (NYSE: CRM) was up 0.5% at $148.24 ahead of earnings, but yet another earnings beat sent shares up 6.5% to $158.00 after the report. Macquarie reiterated it as Outperform and raised the target to $190 from $185, while Morgan Stanley reiterated its Overweight rating and raised its target to $180 from $178. JMP Securities reiterated its Outperform target and raised its target to $191 from $178. Stifel reiterated its Buy rating and raised its target to $195 from $185, and BMO Capital Markets reiterated its Outperform rating and lifted its target price to $188 from $185.

Triumph Group Inc. (NYSE: TGI) was downgraded to Underweight from Equal Weight at Barclays. After closing up 0.7% at $22.65 on Thursday, it has a 52-week range of $11.16 to $26.00, and it had a consensus target price of $27.67.

VMware Inc. (NYSE: VMW) was maintained as Outperform and the target was cut to $190 from $210 at RBC Capital Markets. Stifel reiterated its Hold rating and cut its target to $150 from $160, while Barclays maintained its Overweight rating and marginally raised its target price up to $184 from $182. Nomura/Instinet reiterated its Reduce rating and slashed its target to $114 from $130.

While no price target data was seen in early hours, Seaport Global issued new Buy ratings on homebuilders D.R. Horton Inc. (NYSE: DHI), KBHome (NYSE: KBH), Lennar Corp. (NYSE: LEN) and PulteGroup Inc. (NYSE: PHM).

While investors love defensive dividend stocks with dividends, the premium valuations on many of the go-to defensive to protect your stock portfolio have started to reach nosebleed levels and as such may not be as defensive the next time a serious sell-off, or worse, comes.

Thursday’s top analyst calls included Alibaba, Dillard’s, Home Depot, Jumia Technologies, Lowe’s Companies, Slack Technologies, Sociedad Quimica y Minera de Chile, Target, Wayfair and many more companies.