Investing

Top Analyst Upgrades and Downgrades: Agilent, Antero, Chewy, Domino's, eHealth, First Solar, Kraft Heinz, Newmont, Square, Tilray, Wayfair and More

Jon C. Ogg

Stocks began selling off last week on more widespread coronavirus outbreaks beyond China, but the selling pressure on Monday’s futures levels is far worse, with Dow Jones industrials down over 700 points and the S&P 500 over 80 points lower. Despite the selling, most indexes are still fairly close to all-time highs. Expectations are growing that the election cycle will contribute more volatility for the rest of this year. Many investors still have not made some of their normal portfolio changes this year either.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to try to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while others cover stocks to sell or to avoid.

We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.

These are the top analyst upgrades, downgrades and initiations from Monday, February 24, 2020.

Agilent Technologies Inc. (NYSE: A) was downgraded to Hold from Buy with an $85 target price (versus an $85.07 prior close) at Needham. It had a $90.31 consensus target price.

Antero Midstream Corp. (NYSE: AM) was downgraded to Underweight from Equal Weight with a $5 target price (versus a $4.76 close, after a 5.7% drop) at Wells Fargo. Antero had a consensus target price of $7.27, and its 52-week trading range is $4.26 to $14.50.

Builders FirstSource Inc. (NASDAQ: BLDR) was raised to Buy from Hold with a $32 target price (versus a $26.69 close) at Benchmark. It had a $28.45 prior analyst target.

Carvana Co. (NYSE: CVNA) was started with a Hold rating and a $120 target price (versus a $110.09 close) at Deutsche Bank. The stock was indicated down 2.8% at $107.00, and its prior consensus target price was $82.51.

Chewy Inc. (NYSE: CHWY) was started with an Outperform rating with a $38 target price and at Evercore ISI. The stock closed up almost 4% at $30.40 on Friday but was indicated down over 4% at $29.15 on Monday.

Consolidated Edison Inc. (NYSE: ED) was downgraded to Neutral from Buy and its target price was lowered to $91 from $98 (versus a $90.18 close, after a 4.6% drop) at Mizuho. ConEd was indicated down 1% at $89.25, and its consensus target price was $91.00.

Domino’s Pizza Inc. (NYSE: DPZ) was downgraded to Market Perform from Outperform but its target price was raised to $380 from $325 at Cowen. Shares closed down 0.3% at $371.96 on Friday, but they had been down at $297.10 last week prior to its major post-earnings gains.

eHealth (NASDAQ: EHTH) performed well at the end of last week although it closed up just 1.8% at $131.52 after hitting a high of about $143. Credit Suisse reiterated it as Outperform and raised its target price to $179 from $145, and SunTrust Robinson Humphrey reiterated its Buy rating and raised its target to $250 from $200.

First Solar Inc. (NASDAQ: FSLR) was down 14.7% to $50.59 on Friday, and its shares were down almost 4% at $48.65 ahead of Monday’s opening bell. On top of earnings, a change in its business model also seems to be weighing on it. Merrill Lynch downgraded it by two-notches to Underperform from Buy and lowered its price objective to $54 from $64.

Foot Locker Inc. (NYSE: FL) closed down over 4% at $38.84 on Friday despite strong capital returns coming for shareholders. Deutsche Bank maintained it as Buy but lowered the target price to $55 from $59.

Galapagos N.V. (NASDAQ: GLPG) was up over 5% on Friday to $274.03 and was indicated down over 7% at $254.25 on Monday. Merrill Lynch downgraded it to Underperform from Neutral, while H.C. Wainwright reiterated its Buy rating and raised its target to $302 from $205.

InMode Ltd. (NASDAQ: INMD) was named as the Bull of the Day at Zacks, which said that high demand for minimally invasive aesthetic procedures is driving growth for this medical stock. Shares recently closed at $39.00, with a consensus price target of $49.75.