Investing

Top Analyst Upgrades and Downgrades: Akamai, Alibaba, Boeing, Goodyear, Lyft, Micron, Nvidia, T-Mobile, Under Armour, Wynn, XPO and More

Micron Technology Inc. (NASDAQ: MU) was raised to Buy from Neutral and the target price was vaulted up to $75 from $47 at UBS. Shares closed down about 0.1% at $57.25 on Tuesday but were indicated up 3% at $58.97 ahead of the open on Wednesday. Micron had a consensus target price of $66.74, and its 52-week trading range is $32.14 to $60.56.

NetGear Inc. (NASDAQ: NTGR) was named as the Zacks Bear of the Day stock. The firm said shares have tumbled over the past six months and the firm’s near-term outlook also appears rough. The shares last closed at $22.58 and have a consensus price target of $28.90.

NMI Holdings Inc. (NASDAQ: NMIH) was downgraded to Neutral from Positive at Susquehanna, and Compass Point downgraded it to Neutral from Buy. After a 4% gain to $35.57, the post-earnings reaction was down just over 7% to $33.00, despite a slight beat on sales and earnings expectations.

Nvidia Corp. (NASDAQ: NVDA) was reiterated as Outperform with a $295 target price (versus a $272.32 close) at Wedbush, with the pre-earnings call raising its prior target from $243 as it incorporates 2022 estimates into the mix.

Switch Inc. (NYSE: SWCH) was reiterated as Outperform and its target price was raised to $21 from $19 at Credit Suisse. The stock closed up 1.7% at $16.45 ahead of that call, and it had a consensus target price of $17.23.

T-Mobile US Inc. (NASDAQ: TMUS) rose almost 12% to $94.49 on eight times normal volume after the Sprint merger was given a green light by one of the last judges to have a say over it. Nomura Instinet reiterated its Buy rating and raised the target price to $102 from $96. Argus reiterated its Buy rating and raised its target price to $105. It previously had a consensus target price of $93.68.

Teladoc Health Inc. (NYSE: TDOC) was downgraded to Equal Weight from Overweight at Wells Fargo, and the valuation downgrade took shares down 1.2% to $109.00 after a 0.6% gain to $110.43 after it hit an all-time high of $112.09. It has a consensus target price of $95.62.

Under Armour Inc. (NYSE: UAA) fell almost 19% to $16.59 after its post-earnings reaction. Stifel maintained it as Buy but cut the target to $20 from $27, and Raymond James maintained its Strong Buy rating while lowering its target to $25 from $30.

WisdomTree Investments Inc. (NASDAQ: WETF) was raised to Overweight from Equal Weight and its target price was raised to $6.00 from $5.25 (versus a $4.42 close) at Morgan Stanley. The consensus target price was $4.96 ahead of the call, and the 52-week high is at $8.04.

Wynn Resorts Ltd. (NASDAQ: WYNN) was raised to Buy from Neutral with a $150 price objective at Merrill Lynch. Shares closed up 3.2% at $131.99 ahead of the call, with a $148.94 consensus target price and a 52-week high of $153.41. The stock was indicated up 3.3% at $136.39 after the call.

XPO Logistics Inc. (NYSE: XPO) was reiterated as Buy and the target price was raised to $107 from $95 (versus a $92.28 close) at SunTrust Robinson Humphrey. The firm noted its sum of the parts yields a multiple expansion with increased confidence with improving top-line trends and with ongoing productivity savings.

As the market continues to print all-time highs seemingly every other day, the reality is that we could be in for a big correction. The “sin stocks” are not for everybody, but Merrill Lynch has five rated Buy that may hold up against a sharp decline.

Tuesday’s top analyst upgrades and downgrades included Barclays, CrowdStrike, Edgewell Personal Care, Facebook, Funko, RingCentral, Rio Tinto, Royal Bank of Scotland, Salesforce.com, World Wrestling Entertainment and many more. Monday’s top analyst calls included AbbVie, Apple, Arch Coal, FedEx, Ford, General Motors, Nvidia, Skyworks Solutions, Stitch Fix, World Wrestling Entertainment and many more.