Top Analyst Upgrades and Downgrades: Autodesk, Canopy Growth, Cree, Dynatrace, Elanco, Foot Locker, Kura Sushi USA, Lyft, Qualcomm and More
Kura Sushi USA Inc. (NASDAQ: KRUS) has seen its quiet period end after a $14 IPO pricing, but its shares closed up 3.6% at $23.64 on Friday and it has a post-IPO range of $14.75 to $28.16. BMO Capital Markets started it with an Outperform rating and a $30 target price. Stephens started it as Overweight with a $30 target.
Lexington Realty Trust (NYSE: LXP) was downgraded to Market Perform from Outperform with a $10.50 target price (versus a $10.40 close) at Wells Fargo.
Lyft Inc. (NASDAQ: LYFT) was raised to Buy from Neutral with a $60 target price at Guggenheim. Shares closed down 4.4% at $49.11 on Friday and were indicated to open 2% higher at $50.10 on Monday. The consensus target price is $75.13, and the post-IPO range in 2019 is $47.17 to $88.60.
New Relic Inc. (NYSE: NEWR) was started as Equal Weight with a $63 target price (versus a $58.50 close) at Barclays. Its consensus target price was $90.23.
Oasis Petroleum Inc. (NYSE: OAS) closed down 6.8% at $3.01 on Friday and its prior consensus target price was $5.65. Ladenburg Thalmann downgraded the shares to Neutral from Buy and lowered the target price to $5 from $7. The stock has a 52-week trading range of $2.41 to $14.57.
Organogenesis Holdings Inc. (NASDAQ: ORGO) was reinstated as Outperform with a $10 target price at Credit Suisse, with the firm calling it an undervalued regenerative medicine story for wound care products to the inpatient and outpatient setting. The shares were indicated up 3.7% at $4.48 on Monday.
Pivotal Software Inc. (NASDAQ: PVTL) is being acquired and Credit Suisse downgraded it to Neutral from Outperform.
Qualcomm Inc. (NASDAQ: QCOM) was named as the Zacks Bear of the Day stock. The firm said that the June quarter was disappointing and management significantly lowered guidance. Shares of Qualcomm closed down 4.7% at $73.52 on Friday, in a 52-week range of $49.10 to $90.34 and with a $78.59 consensus target price.
Range Resources Corp. (NYSE: RRC) closed down 4.57% at $3.76 on Friday, and its prior consensus target price was $8.71. Ladenburg Thalmann downgraded it to Neutral from Buy and cut the target price to $5 from $11.
SolarEdge Technologies Inc. (NASDAQ: SEDG) was named as the Bull of the Day at Zacks, which said that this company has been on a tear since the beginning of the year, yielding investors over 120%.
24/7 Wall St. has taken a deeper look into the trade war impacts on China and the United States. Many of the U.S. high-tech and more popular names are starting to trade as badly or even worse than their Chinese look-a-likes now. Also, a deep dive into the actual trade numbers shows which industries are being targeted and how much it is starting to bite into major U.S. industrial players.
If you are worried about incredibly shrinking interest rates and the ability to find yield, there are five blue chip stocks that have dividend yields of 6% or better now. 24/7 Wall St. also identified eight stocks with 10% average yields that actually have room to rise further.
Friday’s top analyst calls included Altria, Apple, BJ’s Wholesale Club, Exxon Mobile, Gap, HP, Salesforce.com, VMware and many more.