Top Analyst Upgrades and Downgrades: Applied Materials, Barrick Gold, Best Buy, Blackstone, Boeing, Cisco, J&J, KKR, McDonald's, Micron, Occidental, RealReal, Splunk and More
Johnson & Johnson (NYSE: JNJ) was raised to Overweight from Equal Weight and the target price was raised to $173 from $140 (versus a $143.19 close) at Barclays. It previously had a $152.17 consensus target price.
KKR & Co. Inc. (NYSE: KKR) was reiterated as Overweight and its target was raised to $36 from $33 (versus a $29.34 close) at Wells Fargo.
McDonald’s Corp. (NYSE: MCD) was reiterated as Overweight and its target price was raised to $230 from $214 at Morgan Stanley in an industry review in which most companies were maintained as Neutral. McDonald’s closed at $195.63, and its consensus target price was $222.53. The 52-week trading range is $169.04 to $221.93.
Micron Technology Inc. (NASDAQ: MU) was up less than 0.1% at $53.04 ahead of earnings but was indicated up over 4% at $55.31 after the report. Micron saw two big target price upgrades ahead of the report, but more have been seen afterward. Wells Fargo reiterated it as Overweight and raised its price target to $70 from $60. Mizuho reiterated its Buy rating and raised its target to $61 from $53. Citigroup maintained its Sell rating on Micron, but the firm raised its target from $35 to $38. KeyBanc Capital Markets reiterated it as Overweight and raised its target to $63 from $59.
Occidental Petroleum Corp. (NYSE: OXY) was reiterated as Neutral at UBS, but the firm lowered its target price to $40 from $58. The stock closed at $38.76 ahead of this call, and it has a 52-week range of $37.25 to $68.83. The consensus target price was $50.36.
RealReal Inc. (NASDAQ: REAL) was started with a Buy rating and a $23 price target at Needham. The stock closed up 1.55% at $17.70 ahead of the call, was indicated up another 0.5% at $17.80 ahead of Thursday’s opening bell and had a $27.50 consensus target price.
Splunk Inc. (NASDAQ: SPLK) was reiterated as Outperform with a $180 target price (versus a $148.10 close) at Wedbush. The firm also added Splunk to its Best Ideas List. Wedbush expects imminent announcements of major enhancements to its cloud offering in time to drive year-end deals.
YPF S.A. (NYSE: YPF) was downgraded to Neutral from overweight at JPMorgan, and its target price was lowered to $11.50 from $14.00. Shares closed up almost 4% at $10.70 ahead of the call.
While this is not an equity call, Boeing Co. (NYSE: BA) has seen its woes get bad enough that Moody’s lowered its corporate credit rating by one notch as the 737 Max grounding persists. The credit ratings agency also cited a long-term risk to the company’s reputation as it suspends its 737 Max production.
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Wednesday’s top analyst upgrades and downgrades included Activision Blizzard, Datadog, Delta Air Lines, Eli Lilly, FedEx, Halliburton, Kinder Morgan, Skechers, Teladoc, Waste Management and many more.