Investing

Top Analyst Upgrades and Downgrades: American Water Works, Apple, Arconic, AT&T, Carnival, RingCentral, SmileDirect, Uber and More

Match Group Inc. (NASDAQ: MTCH) was raised to Buy from Hold and the target price was lowered to $93 from $91 (versus a $74.43 close) at Deutsche Bank.

Nuance Communications Inc. (NASDAQ: NUAN) was maintained as Overweight and the price target was lowered to $17 from $20 at Barclays. While this is a lower target, it reflects the new share price after the recent spin-off of its automotive-voice platform.

Paychex Inc. (NASDAQ: PAYX) was maintained as Equal Weight but the target was raised to $84 from $80 at Barclays.

RingCentral Inc. (NYSE: RNG) was raised to Overweight from Neutral and the target price was raised to $225 from $143 at JPMorgan. The shares closed up 28% at $163.30 on Friday on the heels of pact with Avaya, and they were indicated up 6% more at $1730.00 on Monday.

SmileDirectClub Inc. (NASDAQ: SDC) closed up 7.4% at $14.72 on Friday, and it is down from a post-IPO high of $21.10. JPMorgan started it as Overweight with a $31 target price. Credit Suisse started it with an Outperform rating and a $21 target price. Citigroup started it as Buy with a $19 target, Stifel started it as Buy with a $19 target and UBS started it as Buy with a $24 target.

10x Genomics Inc. (NASDAQ: TXG) closed up 6.9% at $51.45 on Friday and its post-IPO range is $45.11 to $63.38. Cowen started it as Outperform ($55 target) and JPMorgan started it as Overweight ($55 target).

Uber Technologies Inc. (NYSE: UBER) was raised to Buy from Neutral with a $45 target price at Citigroup. The firm is now optimistic about a positive shift around the sentiment regarding its core ride-sharing business and other factors. The stock closed at $29.67 a share on Friday, in a post-IPO range of $28.31 to $47.08.

Wendy’s Co. (NASDAQ: WEN) was downgraded to Market Perform from Outperform at Cowen, with the firm noting a concern about it getting into the crowded breakfast offerings in 2020.

Middlesex Water Co. (NYSE: MSEX) and York Water Co. (NASDAQ: YORW) were both reiterated as Buy and their price targets were raised at Janney. Middlesex’s target was raised to $73 from $64, and York’s was raised to $53 from $38. Janney also reiterated SJW Group (NYSE: SJW) as Buy and raised the price target to $89 from $71.

In the wake of cutting commission down to zero last week, UBS has made some calls in the online brokerage sector: E*Trade Financial Corp. (NASDAQ: ETFC) was raised to Buy from Neutral, but the target price was lowered to $41 from $45. TD Ameritrade Holdings Inc. (NASDAQ: AMTD) was downgraded to Neutral from Buy and the target price was lowered to $33 from $40.

Over the weekend, we reviewed six mega-cap stocks and also five stocks under $10 that analysts want investors to buy.

Friday’s top analyst upgrades and downgrades included Ambarella, Apple, Comcast, Costco, CSX, Domino’s, Dish Network, Etsy, HP, 3M, Nike, PepsiCo, Snap and many more.

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