Top Analyst Upgrades and Downgrades: Agilent, Alphabet, Altria, Amazon, Boeing, Caterpillar, Chipotle, E*Trade, Gap, Snap, Twitter and More
Gap Inc. (NYSE: GPS) was downgraded to Underperform from Neutral at Credit Suisse, and the firm cut its target price to $14 from $20.
Humana Inc. (NYSE: HUM) was started with a Buy rating and assigned a $316 target price at Mizuho.
L Brands Inc. (NYSE: LB) was downgraded to Underperform from Neutral and the target price was lowered to $14 from $22 at Credit Suisse.
Macy’s Inc. (NYSE: M) was downgraded to Underperform from Neutral at Credit Suisse, and the firm cut its target price to $12 from $19.
Newmark Group Inc. (NASDAQ: NMRK) was started with a Buy rating and assigned a $15 price objective (versus a $9.28 prior close) at Merrill Lynch.
Nordic American Tankers Ltd. (NYSE: NAT) was raised to In-Line from Underperform at Evercore ISI.
Pinterest Inc. (NYSE: PINS) was started as Neutral with a $29 target price at MKM Partners.
Snap Inc. (NYSE: SNAP) was reiterated as Neutral with a $14.75 target price (versus a $13.78 close) at Wedbush. The firm anticipated third-quarter earnings upside to be driven by ongoing engagement growth and advertiser demand. MKM Partners started Snap as Neutral with a $16 target price, and Merrill Lynch raised its rating from Neutral to Buy with an $18 price objective.
StoneCo Ltd. (NASDAQ: STNE) was started as Buy with a $42 target price at UBS.
Tandem Diabetes Care Inc. (NASDAQ: TNDM) was started with a Buy rating and assigned a $76 target price at Guggenheim.
Twitter Inc. (NYSE: TWTR) was started with a Neutral rating and assigned a $44 target price at MKM Partners.
UnitedHealth Group Inc. (NYSE: UNH) was started with a Buy rating and assigned a $180 target price at Mizuho.
In the waste management sector, KeyBanc Capital Markets downgraded Waste Management Inc. (NYSE: WM) to Sector Weight from Overweight and upgraded Waste Connections (NYSE: WCN) to Overweight from Sector Weight. Also, Merrill Lynch upgraded Republic Services Inc. (NYSE: RSG) from Neutral to Buy with a $95 target price.
Credit Suisse has issued earnings previews for big biotechs, and it now expects a solid quarter from continued execution. The firm sees upside opportunities despite the recent downturn in investor sentiment, with an increased focus on M&A being somewhat offset by increasing regulatory scrutiny of larger deals. Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) and Neurocrine Biosciences Inc. (NASDAQ: NBIX) are said to well-positioned ahead of the quarterly results. Amgen Inc. (NASDAQ: AMGN) could have a mixed quarter, while Biogen Inc. (NASDAQ: BIIB) could face a more challenging one.
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Thursday’s top analyst upgrades and downgrades included Abbott Laboratories, CSX, IBM, Netflix, Occidental Petroleum, Whiting Petroleum, Amgen, Gilead Sciences, Merck, Pfizer and many more.