Top Analyst Upgrades & Downgrades: Deere, Energizer, First Energy, Foot Locker, Lam Research, Lululemon, Netflix, NVIDIA, PG&E, Williams Companies and More
Stocks were indicated to open higher on Monday after the Dow Jones Industrial Average and S&P 500 had pulled back after hitting all-time highs last week. The economic readings keep coming in mixed and earnings were not as slow as analysts and investors had been prepared for, but those talks of imminent recession that had been prevalent for so long now seem to be all but silly. There is still much uncertainty and many ongoing and unresolved developments for investors to considering heading into 2020, and this is a time where investors should be giving strong consideration over how they want to be positioned for the next year.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.
Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These were the top analyst upgrades, downgrades and other ratings changes seen for Monday, November 25, 2019.
Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARRW) was raised to Outperform from Neutral with a $70 target price (versus $49.20 prior close) at Robert W. Baird. Arrowhead had a $45.71 consensus analyst target price.
Canada Goose Holdings Inc. (NYSE: GOOS) was started with an Overweight rating and was assigned a $47 target price (versus $36.93 prior close, after a 5% gain) at Barclays.
Deckers Outdoor Corporation (NYSE: DECK) was raised to Outperform from Market Perform with a $195 target price (versus $159.55 prior close) at Wells Fargo.
Deere & Company (NYSE: DE) was reiterated as Buy and the target price was raised to $200 from $165 (versus $175.38 prior close) at Citigroup. Deere had a $175.16 consensus analyst target price and its 52-week high is $180.48.
Energizer Holdings, Inc. (NYSE: ENR) was raised to Neutral from Underweight and the price target was raised to $51 from $41 at JPMorgan. Energizer closed at $50.21 with a $55.45 consensus analyst target price ahead of the call.
Evergy, Inc. (NYSE: EVRG) was downgraded to In-Line from Outperform at Evercore ISI.
EQM Midstream Partners, LP (NYSE: EQM) was raised to Outperform from Neutral at Credit Suisse, but the firm did cut its target price down to $30 from $39 in the call. EQM closed at $22.95 and had a $42.15 consensus analyst target price ahead of this call.
First Energy Corporation (NYSE: FE) was raised to Buy from Neutral with a $53 target price at Mizuho; and UBS maintained its Buy rating but cut its target price down to $52 from $55. First Energy closed at $47.34 and had a $50.87 consensus analyst target price ahead of the call.
Foot Locker, Inc. (NYSE: FL) was maintained as Outperform and the target price was cut to $65 from $70 at Raymond James; and Citigroup reiterated its Neutral rating and raised its target to $41 from $37. Foot Locker closed down 2.9% at $40.25 and previously had a $47.40 consensus analyst target price.
Lam Research Corporation (NASDAQ: LRCX) was reiterated as Overweight and the target price was raised to $313 from $261 (versus $261.98 prior close) at KeyBanc Capital Markets. Lam Research had a consensus analyst target price of $267.09 ahead of the call.
Lululemon Athletica, Inc. (NASDAQ: LULU) was started with an Overweight rating and was assigned a $257 target price (versus $219.90 prior close) at Barclays. Lululemon has a consensus analyst target price of $215.46.
Magellan Midstream Partners, L.P. (NYSE: MMP) was started with a Buy rating and was assigned a $69 target price (versus $61.19 prior close) at Goldman Sachs. Magellan Midstream had a consensus analyst target price of $70.10 and a yield equivalent distribution rate of almost 7%.
Mantech International Corporation (NYSE: MAN) was downgraded to Hold from Buy with a $80 target price (versus $77.36 prior close) at SunTrust Robinson Humphrey.
The Medicines Company (NASDAQ: MDCO) was downgraded to Perform from Outperform at Oppenheimer and was downgraded to Neutral from Outperform at Robert W. Baird. The cuts are after a 22.7% pop on news that Novartis is acquiring the cholesterol-drug maker for $9.7 billion.
Netflix, Inc. (NASDAQ: NFLX) was downgraded to Underperform from Market Perform and the target price was lowered down to $265 from $308 at Wells Fargo. Netflix closed down 0.4% at $310.48 on Friday and was indicated down less than 1% on Monday. Netflix has price targets all over the place, but the consensus analyst target price was most recently seen as $361.63.
NVIDIA Corporation (NASDAQ: NVDA) was raised to Overweight from Equal Weight with a $259 price target (versus $210.89 prior close) at Morgan Stanley. NVIDIA recently had a $231.60 target price and many other analysts have recently raised target prices aggressively.
PG&E Corporation (NYSE: PCG) was reiterated as Neutral and the target price was cut to $9 from $10 at UBS.
Public Service Enterprise Group Inc. (NYSE: PEG) was downgraded to In-Line from Outperform at Evercore ISI.
Teladoc Health, Inc. (NYSE: TDOC) was started with a Hold rating at Stifel. It closed up 5.1% at $81.48 on Friday with a $83.60 consensus analyst target price.
The Wendy’s Company (NASDAQ: WEN) was raised to Buy from Hold with a $25 target price (versus $20.92 prior close) at Stifel. Wendy’s had a consensus analyst target price of $22.40.
The Williams Companies, Inc. (NYSE: WMB) was maintained as Buy bu the target price was lowered down to $29 from $30 at UBS. Williams closed up 1.3% at $23.10 ahead of the call with a 28.18 consensus analyst target price.
Wingstop Inc. (NASDAQ: WING) was raised to Outperform from Neutral with a $92 target price (versus $74.46 prior close) at Robert W. Baird.
We are starting to see more and more preliminary 2020 price targets for the S&P 500 index being issued by major Wall Street firms. These can of course change, as some did after the big sell-off that was seen late in 2018. Here are some of the top targets that have been seen:
- BofA Merrill Lynch – 3,300
- BMO Capital – 3,400
- Canaccord Genuity – 3,350
- Citigroup – 3,300
- Credit Suisse – 3,425
- Goldman Sachs – 3,400
- Morgan Stanley – 3,000
- UBS – 3,000
Zacks has issued its top analyst calls of the day. Zendesk, Inc. (NYSE: ZEN) was named as the Bull of the Day at Zacks, which said that this company has excellent long-term potential and a proven business model. Shares of Zendesk most recently closed at $78.90 with a consensus analyst price target of $94.06. iHeartMedia, Inc. (NASDAQ: IHRT) was named as the Bear of the Day stock. The firm said that this company is the leader of a dying media channel. Shares of iHeartRadio last closed at $15.15 with a consensus analyst price target of $20.00.
Five special situations and turnarounds have tremendous upside potential if these analyst calls from the prior week prove to be correct.
Friday’s top analyst calls were in shares of Baidu, Cerner, Duke Energy, Hertz, JD.com, Luckin Coffee, Macy’s, Teladoc, Uber, Waste Management and many more.