Top Analyst Upgrades and Downgrades: Annaly, Amazon, Enterprise Products, Kinder Morgan, Lululemon, RealReal, Snap, Square, Under Armour and More

September 3, 2019 by Jon C. Ogg

Stocks were indicated to open lower on Tuesday after the long weekend on fears about how the new tariffs implemented on September 1 may face pushback from China. The bull market is well over 10 years old, and the Dow Jones industrials, S&P 500 and Nasdaq all still have double-digit percentage gains so far in 2019. Investors should be considering how to position their portfolios and assets heading into late 2019 and as 2020 approaches.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while others cover stocks to sell or stocks to avoid.

We have provided these calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on some of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These are the top analyst upgrades, downgrades and initiations for Tuesday, September 3, 2019.

Actuant Corp. (NYSE: ATU) was downgraded to Neutral from Outperform with a $23 target price (versus a $22.21 prior close) at Robert W. Baird.

Annaly Capital Management Inc. (NYSE: NLY) was downgraded to Neutral from Buy and the target price of the MBS-REIT was cut to $8.00 from $9.50 (versus an $8.30 close) at UBS. Shares were indicated down 1.25 at $8.20 on Tuesday morning, in a 52-week range of $8.17 to $10.76 and with a prior consensus target price of $9.61.

Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Outperform and the target price was raised to $2,600 from $2,250 at RBC Capital Markets. One driver is an expected positive impact from Amazon offering new Prime one-day shipping. Amazon had a consensus target price of $2,269.04 ahead of this call, and Friday’s 0.57% drop to $1,776.29 compares with a 52-week range of $1,307.00 to $2,050.50.

Axonics Modulation Technologies Inc. (NASDAQ: AXNX) was started with a Buy rating and assigned a $43 target price (versus a $33.27 close) at Needham.

Boston Beer Co. (NYSE: SAM) was downgraded to Underperform from Hold and the target price was cut to $332 from $360 (versus a $438.32 close) at Jefferies. Increased competition in the alcoholic seltzer and carbonated beverage markets was cited for the downgrade. Boston Beer had a consensus target price of $364.17.

Camping World Holdings Inc. (NYSE: CWH) was named as the Zacks Bear of the Day stock. The firm said that this RV retailer has been hit hard by changing consumer preferences. Shares closed most recently at $7.60 with a consensus price target of $12.92.

Eaton Corp. (NYSE: ETN) was downgraded to Neutral from Outperform with an $82 target price (versus an $80.72 close) at Robert W. Baird.

Enterprise Products Partners L.P. (NYSE: EPD) was started with a Sector Outperform rating and assigned a $35 target at Scotia Howard Weil. The shares closed up 0.2% at $28.51 on Friday, and the consensus target price is $35.12.

Geron Corp. (NASDAQ: GERN) was started with a Buy rating and assigned a $4 price target (versus a $1.40 close) at H.C. Wainwright. It had a consensus target price of $3.83, and its 52-week trading range is $0.95 to $6.99.

HEICO Corp. (NYSE: HEI) was downgraded to Sell from Neutral at UBS, but the prior target price of $120 was lifted to $134 in the call. Shares closed down 0.88% at $144.67 ahead of the call, and the consensus target price was $146.50.

Kinder Morgan Inc. (NYSE: KMI) was started with a Sector Perform rating and assigned a $23 target at Scotia Howard Weil. The stock closed down just over 0.6% at $20.27 a share on Friday, and it had a consensus target price of $22.05.

Lending Tree Inc. (NASDAQ: TREE) was raised to Buy from Neutral and the target price was raised to $295 from $355 (versus a $310.09 close) at UBS. The consensus target price is $371.35, and the 52-week trading range is $183.25 to $434.94.