Top Analyst Upgrades and Downgrades: Activision, Amazon, Apple, Boeing, Eli Lilly, J&J, Lennar, Nio, Nvidia, Tesla and More
Intuit Inc. (NASDAQ: INTU) was reiterated as Outperform with a $300 target price at Credit Suisse on Tuesday, with the firm outlining the projected impact and road after the IRS published its agreement with Free File being largely within MITRE recommendations published in October. Intuit previously closed at $262.84, and its consensus target price was $280.56.
Johnson & Johnson (NYSE: JNJ) was maintained as Outperform with a $163 target price at Credit Suisse on Tuesday morning. The stock previously closed at $145.75, and its consensus target price was $154.24. The call came with a two-cent expected drop to earnings per share due to a slight negative tracking of overall pharmaceutical sales trailing its estimates.
Lennar Corp. (NYSE: LEN) was reiterated as Outperform with a $70 target price at Wedbush on Monday. The stock closed down 0.5% at $55.74 after the call, but the firm is positive for 2020 and expects order growth and revenues to exceed expectations while it trades at less than nine times expected earnings and is slightly undervalued against peers at current levels. The 52-week range is $38.43 to $62.63, and the consensus target price is $65.93.
Maxar Technologies Inc. (NASDAQ: MAXR) was downgraded to Market Perform from Outperform at Raymond James, but this was after Maxar rallied 15.4% to $16.49 after announcing the sale of its space robotics company MDA for close to $765 million. Maxar is worth roughly $985 million, and its 52-week trading range is $3.83 to $17.59.
New Residential Investment Corp. (NYSE: NRZ) was started with a Buy rating and an $18 target price at Argus on Tuesday morning. The firm sees the mortgage-REIT capturing a larger portion of the mortgage process as it diversifies into other mortgage-related operating businesses. While the $18 target compares with a $16.03 prior close, New Residential has a $2.00 per share dividend that comes with a yield of about 12% for total return investors to consider.
Nio Ltd. (NYSE: NIO) was up 53% at $3.72 on Monday after its operating losses shrank much more than expected for the Chinese electric-car maker. Piper Jaffray has now maintained its Neutral rating but raised its target price to $4.15 from $2.20 in a call on Tuesday. The firm cited general optimism, higher deliveries and aggressive cost cuts all contributing to the prior day’s gains. Shares were indicated up 12% at $4.22 on Tuesday morning.
Nvidia Corp. (NASDAQ: NVDA) was reiterated as Buy and the target price was raised to $275 from $240 (a new street-high call) at Benchmark. The firm is calling for a return to stronger revenue and earnings growth in fiscal year 2021 after a challenging fiscal year 2020, based on reaccelerated data center spending and an improving market for GPUs. The prior analyst target high was $273, and the consensus was effectively just under $235.00, compared with a $232.32 close on Monday.
Rubicon Project Inc. (NYSE: RUBI) was named as the Bull of the Day at Zacks. The firm sees the Rubicon/Telaria merger positioning the combined company at the top of the supply-side advertising platform market as one of the leading advertising exchanges has rekindled its growth after a couple of transitional years.
Tesla Inc. (NASDAQ: TSLA) was down 3.6% at $414.70 on Monday after Cowen warned that 2019 deliveries are likely to miss expectations and that 2020 deliveries could handily disappoint. Cowen has remained quite negative here with its Underweight rating on Tesla, but the firm had raised its target to $210 from $190.
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