Investing
Top Analyst Upgrades and Downgrades: Adobe, Amgen, BofA, Broadcom, CME, Goldman Sachs, Micron, PepsiCo, UnitedHealth, Urban Outfitters, Vertex and More
December 16, 2019 8:55 am
Last Updated: January 30, 2020 12:08 pm
Micron Technology Inc. (NASDAQ: MU) was raised to Positive from Neutral with an $85 target price (versus a $51.20 close) at Susquehanna.
Nasdaq Inc. (NASDAQ: NDAQ) was started as Outperform at Credit Suisse.
Nice Ltd. (NASDAQ: NICE) was reiterated as Outperform and the target price was raised to $185 from $170 (versus a $155.27 close) at Wedbush Securities.
PepsiCo Inc. (NYSE: PEP) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Regions Financial Corp. (NYSE: RF) was raised to Neutral from Sell with a $17 target price (versus a $17.17 close) at Citigroup.
REV Group Inc. (NYSE: REVG) was downgraded to Underweight from Equal Weight with an $11 target price (versus a $12.92 close) at Morgan Stanley.
Tradeweb Markets Inc. (NASDAQ: TW) was upgraded to Outperform from Neutral and its target price was raised to $54 from $51 (versus a $44.82 close) at Credit Suisse.
Truist Financial Corp. (NYSE: TFC) was started as Neutral with a $55 target price at Credit Suisse.
UnitedHealth Group, Inc. (NYSE: UNH) was reiterated as Buy with a $330 target price (versus a $285.48 close) at Goldman Sachs.
Urban Outfitters Inc. (NASDAQ: URBN) was downgraded to Hold from Buy with a $28 target price (versus a $26.75 close) at Loop Capital.
US Bancorp (NYSE: USB) was raised to Neutral from Sell with a $62 target price (versus a $60.27 close) at Citigroup.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was reiterated as Buy and the target price was raised to $248 (versus a $218.98 close) at Argus.
WPX Energy Inc. (NYSE: WPX) was downgraded to Hold from Buy with a $12 target price (versus a $10.91 close) at SunTrust Robinson Humphrey.
Xenia Hotels & Resorts Inc. (NYSE: XHR) was started with a Neutral rating and a $23.50 target price (versus a $21.19 close) at Janney.
Credit Suisse has issued its 2020 outlook on Utilities & Alternative Energy in a call titled “Getting Meaner and Less Defensive.” For the utilities sector into 2020, the firm sees relative outperformance for integrated utilities, with some non-utility exposure and more reversion to mean among the regulateds. The firm sees funds shifting away from the highest defensive P/E stocks and into less expensive value stocks. Among the Integrated with Outperform ratings are Exelon Corp. (NYSE: EXC), NextEra Energy Inc. (NYSE: NEE) and Vistra Energy Corp. (NYSE: VST). Pinnacle West Capital Corp. (NYSE: PNW) is Outperform among the regulated utilities, and Underperform ratings remain in WEC Energy Group Inc. (NYSE: WEC) and Spire Inc. (NYSE: SR).
Here is a preliminary look at the Dogs of the Dow for 2020, assuming prices and yields remain the same.
Friday’s top analyst upgrades and downgrades included Adobe, Biogen, Bristol-Myers, Broadcom, Charles Schwab, Ciena, Etsy, Gilead Sciences, Oracle, Sarepta Therapeutics, Snap, Wayfair and many more.
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