Investing

Top Analyst Upgrades and Downgrades: Amgen, Bank of America, Box, Chico's FAS, Microsoft, Netflix, NXP, StoneCo, Tiffany and More

Microsoft Corp. (NASDAQ: MSFT) was reiterated as Outperform with a $160 target price (versus a $135.56 close) at Wedbush Securities. The impetus behind the call is the firm’s checks in cloud growth, and it noted that Microsoft is closing the gap on Amazon’s AWS with a clear acceleration of larger and more strategic enterprise cloud deals in the United States and Europe. The firm also believes Microsoft is poised to win the lion’s share of the next phase of cloud deployments over Amazon’s AWS.

Netflix Inc. (NASDAQ: NFLX) was maintained as Outperform at Imperial Capital, but the firm did lower its target price to $451 from $458, as the streaming competition heats up. Netflix was at $291.77 per share ahead of the call, but it was indicated up 1% at $294.77 afterward. The 52-week trading range is $231.23 to $386.80, and the consensus target price is $388.40.

NXP Semiconductors N.V. (NASDAQ: NXPI) was started with a Buy rating and assigned a $118 target price at Loop Capital. The shares closed up 1.6% at $100.28 on Wednesday, and the consensus target price was $116.81.

Owl Rock Capital Corp. (NYSE: ORCC) was started with a Neutral rating and a $16 target price (versus a $15.98 close) at Janney.

Solid Biosciences Inc. (NASDAQ: SLDB) was downgraded to Sell from Neutral with a $6 target price (versus a $9.09 close) at Citigroup. The stock had closed up over 8% on Wednesday, but its 52-week range of $4.32 to $54.54 explains its trading history’s checkered past.

StoneCo Ltd. (NASDAQ: STNE) was reiterated as Neutral but the target price was raised to $31 from $26 (versus a $30.68 close) at JPMorgan.

Tallgrass Energy L.P. (NYSE: TGE) was downgraded to Neutral from Outperform and the target price was lowered to $20 from $28 at Robert W. Baird. The stock closed up 35% at $19.46 a share, based on a buyout offer the prior day. Its consensus target price was $21.65, and its 52-week trading range is $14.28 to $25.96.

Tapestry Inc. (NYSE: TPR) was downgraded to Market Perform from Outperform at Cowen. The shares closed at $20.49 on Wednesday, and the consensus target price was $29.46.

Texas Capital Bancshares Inc. (NASDAQ: TCBI) was downgraded to Market Perform from Outperform at Raymond James.

Tiffany & Co. (NYSE: TIF) was maintained as Outperform but the target price was lowered to $110 from $120 at Telsey Advisory. Citigroup maintained its Neutral rating on Tiffany but still lowered its target price to $94 from $100.

Williams-Sonoma Inc. (NYSE: WSM) was reiterated as Underweight but the target price was raised to $64 from $55 at JPMorgan, and Citigroup maintained its Neutral rating but raised its target to $70 from $59. The shares previously closed up 0.5% at $68.78, in a 52-week range of $45.01 to $72.49 and with a consensus target price of $62.36.

With yields plunging to record lows, five dividend aristocrat stocks that are rated Buy at Merrill Lynch are great growth and income ideas now.

Oil has rebounded this week but has underperformed the S&P 500 big-time this year. Goldman Sachs thinks four top refining stocks are a great way to play the sector.

Wednesday’s top analyst calls included Anaplan, Autodesk, Cerus, Hewlett Packard Enterprise, Mallinckrodt, Nabors Industries, Veeva Systems, VistaGen Therapeutics and many more.

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