Investing

Top Analyst Upgrades and Downgrades: Apollo, BlackRock, Cloudflare, Green Plains, Microsoft, Oracle, Target, TJX and More

Microsoft Corp. (NASDAQ: MSFT) was raised to Buy from Hold with a $160 target price at Jefferies, with the firm noting that its diversified business model can achieve double-digit revenue growth for multiple years ahead.

Nektar Therapeutics (NASDAQ: NKTR) was downgraded to Sell from Neutral and the target price was slashed to $16 from $54 at Goldman Sachs. Shares closed down 1.5% at $18.67 ahead of the call and were down more than 5.5% at $17.64 on Tuesday morning.

Nordic American Tankers Ltd. (NYSE: NAT) was raised to Buy from Neutral with a $4 target price (versus a $3.08 close) at BTIG. Its shares were indicated up 4.5% at $3.22 on Tuesday, and its consensus target price was $4.56.

Oracle Corp. (NYSE: ORCL) was downgraded to Hold from Buy and the price target was lowered to $60 from $66 at Jefferies. Oracle closed down 0.6% at $54.80 ahead of the call and was indicated down 1.35 at $54.10 afterward on Tuesday. Its prior consensus target price was $56.32.

Phillips 66 (NYSE: PSX) was reiterated as Outperform and its target price was raised to $120 from $117 (versus a $101.36 close) at Raymond James.

Puma Biotechnology Inc. (NASDAQ: PBYI) was downgraded to Sell from Neutral and the price target was slashed to $8 from $24 (versus a $10.07 close) at Goldman Sachs. The stock was indicated down 7.5% at $9.31 on Tuesday.

Satsuma Pharmaceuticals Inc. (NASDAQ: STSA) was started as Outperform with a $16 target price (versus a $10.70 close) at Credit Suisse. It closed down 4.9% ahead of the call, in a 52-week range of $10.31 to $19.90, and its market cap is only $170 million.

SpringWorks Therapeutics Inc. (NASDAQ: SWTX) was started as Outperform and assigned a $33 target price (versus an $18.67 close) at Wedbush Securities. Goldman Sachs also started it, with a Buy rating and $37 target.

Target Corp. (NYSE: TGT) was started with a Strong Buy rating and assigned a $130 target price (versus a $107.95 close) at Raymond James. Target previously had a $110.88 consensus target price, and its 52-week trading range is $60.15 to $110.94.

TJX Companies Inc. (NYSE: TJX) was reiterated as Buy with a $72 target price (versus a $55.73 close) at Argus. It has a 52-week range of $41.49 to $57.31 and a consensus target price of $59.95.

T. Rowe Price Group Inc. (NASDAQ: TROW) was started with a Market Perform rating and assigned a $101 target price (versus a $109.93 close) at BMO Capital Markets.

While water utilities have moved into big premium valuations, one water analyst sees even more upside. At least three of the water utilities were given long-term cases that the shares could more than double in the decade ahead.

We continue to look at the SunTrust top high-conviction stocks pick for the fourth quarter, and they have five top health care stocks that range from IT-related to a potential biotech superstar.

Monday’s top analyst upgrades and downgrades included American Water Works, Apple, Arconic, AT&T, Carnival, RingCentral, SmileDirect, Uber Technologies and many more.