Investing

Top Analyst Upgrades and Downgrades: AMD, Apple, Biomarin, Corning, EA, FireEye, Grubhub, Nordstrom, NXP, Shopify, Xerox and More

FireEye Inc. (NASDAQ: FEYE) was down 4.7% at $15.48 on Tuesday ahead of earnings. Wedbush reiterated it as Neutral with a $15 target price, noting that its results that were nothing to write home about and with mixed fourth-quarter guidance.

Grubhub Inc. (NYSE: GRUB) took multiple downgrades on Tuesday as shares fell a whopping 43.3% to $33.11 on Tuesday. Wedbush decided to downgrade it to Neutral and cut the target to $30 from $90 as competition is placing a real question mark on long-term value here. JMP Securities downgraded it to Market Perform from Outperform, and Stifel downgraded it to Hold from Buy. Goldman Sachs cut its rating to Neutral from Buy and slashed its target price to $30 from $86 in the wake of the news.

GW Pharmaceuticals PLC (NASDAQ: GWPH) was down 2.7% at $134.06 on Tuesday, but H.C. Wainwright started it with a Buy rating and a $170 target price. The consensus target price is $224.57.

HCA Healthcare Inc. (HCA) was reiterated as Buy and the price target was raised to $156 from $152 (versus a $134.99 close) at Citigroup.

Leggett & Platt (NYSE: LEG) rose by 11.7% to $51.57 on Tuesday, above the prior consensus target price of $47.75. SunTrust Robinson Humphrey downgraded it to Hold from Buy.

Microchip Technology Inc. (NASDAQ: MCHP) was raised to Strong Buy from Outperform with a $115 target price (versus an $84.81 close) at Raymond James.

Molina Healthcare Inc. (NYSE: MOH) was downgraded to Hold from Buy and the target price was lowered to $120 from $133 (versus a $124.68 close) at Jefferies. The stock was indicated down over 5% at $118.00 on Wednesday.

National Oilwell Varco Inc. (NYSE: NOV) was raised to Buy from Neutral and the target price was raised to $33 from $29 (versus a $23.83 close, after a 13.7% gain) at Goldman Sachs.

Nordstrom Inc. (NYSE: JWN) was down 2.4% at $37.11 on Tuesday and was indicated down another 2.9% at $36.00 on Wednesday morning, and its consensus target price is $34.25. UBS downgraded it to Sell from Neutral.

NXP Semiconductors N.V. (NASDAQ: NXPI) was reiterated as Overweight and the target price was raised to $135 from $130 (versus a $114.41 close) at KeyBanc Capital Markets.

Reliance Steel & Aluminum Co. (NYSE: RS) was downgraded to Hold from Buy at Deutsche Bank, but the firm did raise its target price to $110 from $105. The shares closed up 1.3% at $119.73 ahead of the call, with a $113.89 prior consensus target price.

Revance Therapeutics Inc. (NASDAQ: RVNC) was raised to Outperform from Market Perform and the target price was raised to $20 from $12.50 (versus a $15.42 close) at Wells Fargo.

Shopify Inc. (NYSE: SHOP) closed down 3.8% at $312.52 after an earnings disappointment on Tuesday morning. Wedbush reiterated its Neutral rating with a $325 price target.

Steven Madden Ltd. (NASDAQ: SHOO) was reiterated as Neutral with a $37 target price (versus a $41.01 close) at Wedbush, with the firm noting that raised guidance was conservative but is likely reflected in the current valuation.

Ventas Inc. (NYSE: VTR) was downgraded to Hold from Buy at Stifel.

Werner Enterprises Inc. (NASDAQ: WERN) was downgraded to Hold from Buy at Stifel.

Xerox Holdings Corp. (NYSE: XRX) closed up over 11% at $34.42 after earnings, and it previously had a $37.25 consensus target price. JPMorgan downgraded it to Underweight from Neutral with a $31 target price.

Even though almost all the top 20 biggest banks beat third-quarter Wall Street estimates, the sector is still way underowned across Wall Street. Merrill Lynch has four rated Buy that are top picks now.

Tuesday’s top analyst upgrades and downgrades included Alphabet, American Express, Apple, AT&T, Boeing, JPMorgan, Nokia, Slack, Under Armour and many more.

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