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Top Analyst Upgrades and Downgrades: Baidu, BellRing, Chegg, Chewy, Cisco, Expedia, Home Depot, Nvidia, Occidental, Qualcomm, Tesla and More
November 11, 2019 9:00 am
Last Updated: January 30, 2020 1:22 pm
Grupo Televisa SAB (NYSE: TV) was downgraded to Underweight from Equal Weight with a $9 target price (versus an $11.53 close) at Barclays.
Hewlett Packard Enterprise Co. (NYSE: HPE) was raised to Neutral from Sell and its target price was raised to $18 from $13 (versus a $17.43 close) at UBS.
Home Depot Inc. (NYSE: HD) was downgraded to Hold from Buy at Edward Jones. The valuation downgrade had shares indicated down about 0.8% at $231.00, after a $232.84 prior close, and the consensus target price was $234.18.
Nvidia Corp. (NASDAQ: NVDA) was maintained as Hold but the target price was raised to $190 from $160 (versus a $207.78 close) at Deutsche Bank.
Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Sell from Hold with a $36 target price (versus a $40.10 close) at Tudor Pickering. It was indicated down almost 2% at $39.35 on Monday, and its consensus target price was $52.02.
Pebblebrook Hotel Trust (NYSE: PEB) was downgraded to Underweight from Overweight with a $26 target price (versus a $26.48 close) at Barclays.
Qualcomm Inc. (NASDAQ: QCOM) was given a valuation downgrade to Equal Weight from Overweight with a $90 target price at Morgan Stanley. Qualcomm closed up 4.5% at $94.03 on Friday and was indicated down about 2.2% at $92.00 on Monday. Its prior consensus target price was $88.44.
Skyworks Solutions Inc. (NASDAQ: SWKS) was reiterated as Equal Weight at Morgan Stanley, but the firm raised its target price to $97 from $78 in the call. Shares closed up 1.8% at $100.44 ahead of the call and had a prior consensus target price of $87.52.
Smartsheet Inc. (NYSE: SMAR) was downgraded to Neutral from Outperform and the target price was slashed to $42 from $62 (versus a $39.75 close) at Wedbush Securities. The firm was cautious about intensifying competition, with attendant risk and short tenures in its sales organization.
Splunk Inc. (NASDAQ: SPLK) was reiterated as Outperform with a $153 target price (versus a $125.03 close) at Wedbush. The firm was positive into its report, citing recent product launches, price changes that are viewed as win-win for it and customers, and ongoing market leadership with its data-to-everything platform.
Tesla Inc. (NASDAQ: TSLA) was reiterated as Buy and the target price was raised to $400 from $300 at Jefferies, with the firm saying that its gross margin levels are consistent to generate sustained profitability. Tesla closed at $337.14 on Friday.
United Airlines Holdings Inc. (NYSE: UAL) was reiterated as Overweight and its target was raised to $106 from $103 (versus a $93.44 close) at Morgan Stanley.
Wright Medical Group N.V. (NASDAQ: WMGI) was downgraded to Neutral from Outperform but the target was raised to $31 from $28 (versus a $29.43 close) at Robert W. Baird.
Some top strategists on Wall Street are leaning towards a resurgence of value over growth stocks in 2020. Merrill Lynch has three top US 1 list picks that could be great plays on the value theme.
Stifel has five energy stocks under $10 that could have significant upside to its target prices.
Friday’s top analyst upgrades and downgrades included Beyond Meat, Costco, Disney, Gap, Hecla Mining, Qualcomm, Slack, Teradata, Walmart, Zillow and many more.
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