Top Analyst Upgrades and Downgrades: AMD, Applied Materials, Carnival, Dell, Karuna Therapeutics, Lowe's, Noble Energy, PayPal, Square, Target, Virgin Galactic and More
Lowe’s Companies Inc. (NYSE: LOW) was up 3.9% at $117.83 after beating earnings and doing better than rival Home Depot. Wedbush reiterated it as Outperform with a $135 target price, and Goldman Sachs reiterated its Buy rating and raised its target to $135 from $123. Robert W. Baird reiterated its Outperform rating and raised its target to $145 from $135.
MacroGenics Inc. (NASDAQ: MGNX) was downgraded to Underweight from Equal Weight with a $6 target price (versus an $8.63 close) at Morgan Stanley. Shares were indicated down 5.5% at $8.15 on the news, and the consensus target price had been closer to $25.
Noble Energy Inc. (NYSE: NBL) was started with a Buy rating and a $27 target price (versus a $20.08 close) at MKM Partners.
OneMain Holdings Inc. (NYSE: OMF) was up 5.8% at $43.11 on Wednesday after earnings and guidance. Janney said it had a very bullish tone at its investor day, and the firm reiterated its Buy rating and raised its target to $55 from $48. The consensus target price was $48.65.
PayPal Inc. (NASDAQ: PYPL) announced a $4 billion pending acquisition of Honey Science to boost consumers’ shopping experiences beyond the checkout phase. Wedbush reiterated its Outperform rating and $140 target price. PayPal closed down 0.8% at $104.09 ahead of the call and was indicated down 1.2% at $102.85 on Thursday morning. It has a 52-week range of $76.70 to $121.48 and a consensus target price of $126.00.
Salesforce.com Inc. (NYSE: CRM) was reiterated as Outperform and its target price was raised to $195 from $185 at Cowen, and Wedbush reiterated its Outperform rating and $192 target price, and it was maintained on the firm’s Best Ideas List.
Square Inc. (NYSE: SQ) was reiterated as Neutral with a $75 target price (versus a $67.17 close) at Wedbush, with the firm noting that it was positive on the investment strategy after an advisor luncheon but the firm still sees its leverage being elusive.
Summit Materials Inc. (NYSE: SUM) was started as Buy with a $32 price target (versus a $24.15 close) at Deutsche Bank.
Target Corp. (NYSE: TGT) rose 14% to $126.43 on Wednesday’s post-earnings-beat reaction. Merrill Lynch reiterated its Buy rating and raised its price objective to $150 from $125. KeyBanc Capital Markets reiterated its Overweight rating and raised its target to $140 from $130, while Robert W. Baird reiterated its Outperform and raised its target to $140 from $115.
Tiffany & Co. (NYSE: TIF) was reiterated as Outperform and its target price was raised to $125 from $100 (versus a $123.33 close) at Wells Fargo. Its shares were higher by 3% at $127.10 on Thursday on word that LVMH is getting access to its books after it was reported that the company is raising its buyout offer to $130 per share from $120.
TopBuild Corp. (NYSE: BLD) was started as Buy with a $129 price target (versus a $110.27 close) at Deutsche Bank.
Virgin Galactic Holdings Inc. (NYSE: SPCE) was started with an Outperform rating at Credit Suisse. Its post-SPAC trading range has been $8.56 to $12.09, and it recently closed at $9.10 after a 3% drop.
Warrior Met Coal Inc. (NYSE: HCC) was named as the Zacks Bear of the Day stock. The firm said that this stock has plummeted over 20% in 2019 as part of a larger downturn in the coal industry. Shares last closed at $18.42 and have a consensus price target of $28.63.
Raymond James started coverage on engine and auto parts and industrial components. Navistar International Corp. (NYSE: NAV) and Cummins Inc. (NYSE: CMI) were started as Market Perform. Wabash National Corp. (NYSE: WNC) was started as Strong Buy with a $19 target (versus a $15.01 close), PACCAR Inc. (NASDAQ: PXCAR) was started as Strong Buy with a $90 Target (versus a $78.85 close) and Allison Transmission Holdings Inc. (NYSE: ALSN) was started as Outperform with a $50 target (versus a $45.44 close).
Wednesday’s top analyst upgrades and downgrades include Amarin, Baker Hughes, Canopy Growth, Home Depot, Intelsat, Johnson & Johnson, Replimune, Schlumberger, Transocean and many more.