Itron Inc. (NASDAQ: ITRI) was maintained as Outperform and the price target was raised to $80 from $70 (versus a $75.63 close) at Robert W. Baird.
NCR Corp. (NYSE: NCR) was started with a Market Perform rating and assigned a $45 target price (versus a $32.87 close) at Wells Fargo.
Square Inc. (NYSE: SQ) was upgraded to Hold from Sell and the target price was raised to $63 from $55 at Craig-Hallum. It closed up 0.6% at $59.60 and was indicated up 0.8% at $60.10, and its prior consensus target price was $81.53. The 52-week trading range is $49.82 to $101.15.
Stanley Black & Decker Inc. (NYSE: SWK) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Tailored Brands Inc. (NYSE: TLRD) was named as the Zacks Bear of the Day stock. The firm said that this stock has been toxic for some time now and, unless significant systemic changes are made, its toxicity will continue. Shares closed at $4.54 and have a consensus price target of $6.97.
Taylor Morrison Home Corp. (NASDAQ: TMHC) was reiterated as Outperform with a $27 price target (versus a $24.87 close) at Wedbush, with the firm noting that third-quarter orders for new homes are tracking ahead of the firm’s forecasts and broad-based demand.
Tellurian Inc. (NASDAQ: TELL) was started with an Outperform rating and assigned a $14 target price (versus an $8.33 close) at Evercore ISI. It was indicated up 2% at $8.50, and its consensus target price was $11.47 ahead of this call.
TerraForm Power Inc. (NASDAQ: TERP) was downgraded to Neutral from Overweight with a $17 target price (versus a $17.58 close) at JPMorgan. Shares were indicated down 1.8% at $17.25 on Wednesday, and they have a $16.22 consensus target price.
Whirlpool Corp. (NYSE: WHR) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) was raised to Buy from Hold with a $167 target price (versus a $138.84 close) at Canaccord Genuity. It has a consensus target price of $148.40.
Zscaler Inc. (NASDAQ: ZS) was reiterated as Outperform with an $80 target price at Wedbush, with the firm talking up the cloud growth to the next level after a very positive reaction to the company’s user conference. Also, Credit Suisse reiterated its Outperform rating and $70 target price and said that it has a better appreciation of its expanded market opportunity after the conference. Shares closed up 6.3% at $50.64 on Tuesday, but they are still down handily from the high and since it reported earnings.
Zynga Inc. (NASDAQ: ZNGA) was started as Neutral with a $7 target price (versus a $6.04 close) at JPMorgan. It was indicated almost 1% on Wednesday and its consensus target price is $7.36.
This is FOMC Day, and it has suddenly become far less clear whether Federal Reserve Chair Jerome Powell and his Federal Open Market Committee members will cut interest rates in the Wednesday announcement, and that will mark the second day of repurchase activity to keep federal funds within the target range. Credit Suisse has previewed the Fed’s announcement and said:
While the market’s expectation is for 100 basis points of further easing, the Fed’s Dot Plot does not concur. Adjusting this guidance lower will be an important signal for equity investors. More important than the much anticipated 25 basis point cut, the Fed must convince investors that they are committed to steepening the curve through further accommodation. With both growth and inflation near 2%, a simple reiteration of data dependence would likely disappoint investors.
Record unemployment may generate a very solid holiday season sales surge to boost gross domestic product in the fourth quarter.
Tuesday’s top analyst upgrades and downgrades included Bank of America, CME, ConocoPhillips, CSX, EverQuote, Home Depot, IAC/InterActive, Snap, Splunk, Square, TJX Companies and many more.
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