Investing
Top Analyst Upgrades and Downgrades: CSX, Hess, McDonald's, Netflix, Nike, Oracle, RingCentral, Starbucks, Tesla, VMware and More
December 10, 2019 8:55 am
Last Updated: January 30, 2020 12:23 pm
Oracle Corp. (NYSE: ORCL) was reiterated as Neutral with a $55 target price (versus a $55.31 prior close) at Wedbush, with the firm noting that Oracle needs to pick up the pace and that it remains on the sidelines looking for meaningful and more sustainable progress in rebooting database growth from either cloud/autonomous or BYOL.
Owens-Illinois Inc. (NYSE: OI) was raised to Buy from Neutral with a $13 target price at Goldman Sachs.
Packaging Corp. of America (NYSE: PKG) was downgraded to Sell from Neutral with a $102 target price at Goldman Sachs.
Prologis Inc. (NYSE: PLD) was raised to Outperform from Market Perform with a $100 price target at Wells Fargo.
Redfin Corp. (NASDAQ: RDFN) was raised to Buy from Neutral and the price target was raised to $25 from $18.50 at D.A. Davidson.
Rapid7 Inc. (NASDAQ: RPD) was started as Overweight with a $67 target price at Piper Jaffray.
RingCentral Inc. (NYSE: RNG) was started as Overweight with a $194 target price at Piper Jaffray.
State Street Corp. (NYSE: STT) was raised to Outperform from Market Perform with a $86 target price at Keefe Bruyette & Woods.
Tesla Inc. (NASDAQ: TSLA) was named as the Bull of the Day at Zacks, which said that the world’s leading electric automaker is still way ahead of the competition. Shares most recently closed at $339.53 and have a consensus price target of $283.48.
Thor Industries Inc. (NYSE: THO) was reiterated as Underperform and the price objective was lowered to $45 from $47 at Merrill Lynch.
Ventas Inc. (NYSE: VTR) was downgraded to Underperform from Market Perform at Wells Fargo.
VMware Inc. (NYSE: VMW) was started as Overweight with a $170 target price at Piper Jaffray.
24/7 Wall St.RBC Capital Markets issued new Outperform ratings in the food services and restaurant business. These include Starbucks Corp. (NASDAQ: SBUX), with a $97 target; McDonald’s Corp. (NYSE: MCD), with a $218 target; Domino’s Pizza Inc. (NYSE: DPZ), with a $337 target; and Restaurant Brands International Inc. (NYSE: QSR), with a $77 target. Brinker, Chipotle, Dunkin’, Wendy’s and Yum Brands were all started with Sector Perform ratings in the new RBC coverage.
Wedbush has a cautious view of many homebuilders for 2020, after noting that there will be tougher comps in the second half of the year, while it actually sees the near-term setup looking enticing. The firm would maintain current holdings in the homebuilders and look to initiate new positions in names that have pulled back from recent highs. The firm’s Outperform names that fit that bill include Century Communities Inc. (NYSE: CCS), Lennar Corp. (NYSE: LEN), Beazer Homes USA Inc. (NYSE: BZH) and Taylor Morrison Home Corp. (NYSE: TMHC).
Raymond James is bullish on oil surging in 2020 to 2021, and the firm has six strong buys for the outsized upside that will win if the firm is correct.
Monday’s top analyst upgrades and downgrades included Adobe, Chevron, Dow, JD.com, Lululemon, 3M, Macy’s, Nucor, PNC, RH, RingCentral, WingStop, Zillow and many more.
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