Investing

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

Kraft Heinz Co. (NASDAQ: KHC) was named as the Zacks Bear of the Day stock. The firm said that the packaged food giant is facing serious near-term headwinds, like losing key market share. Shares last closed at $27.26 and have a consensus price target of $28.74.

Martin Marietta Materials Inc. (NYSE: MLM) was downgraded to Equal Weight from Overweight at Stephens.

Mednax Inc. (NYSE: MD) was hit hard last week on news it was losing its contract with UnitedHealth. Credit Suisse maintained its Outperform rating but cut its target to $29 from $33.

Newmont Corp. (NYSE: NEM) was raised to Outperform from Neutral with a $58 target price at CIBC. The stock was up 2.8% at $49.44 on Friday and was indicated up 4.6% at $51.73 on Monday, as gold is higher on the flight to safety trade.

Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH) was downgraded to Hold from Buy at Argus, with the independent research firm giving strong and longer concerns over the coronavirus impact.

Pioneer Natural Resources Co. (NYSE: PXD) was reiterated as Overweight and its target price was raised to $197 from $183 (versus a $142.25 close) at Morgan Stanley.

Square Inc. (NYSE: SQ) was reiterated as Outperform with an $84 target price (versus an $83.49 close) at Credit Suisse, but this share price is after a 36% gain over the past 100 days or so, and the firm remained positive on its growth.

Thermo Fisher Scientific Inc. (NYSE: TMO) was reiterated as Buy and its target was raised to $370 (versus a $334.94 close) at Argus.

Tilray Inc. (NASDAQ: TLRY) was downgraded to Market Perform from Outperform and its target price was slashed to $20 from $40 at Cowen. Shares closed up 0.7% at $19.37 on Friday but were indicated down 8.3% at $17.76 on Monday. The prior consensus target price was $25.64.

TJX Companies Inc. (NYSE: TJX) was reiterated as Buy and its target was raised to $69 from $66 at Deutsche Bank. It closed down almost 1% at $63.31 a share on Friday, with a $65.85 consensus target price.

United Technologies Corp. (NYSE: UTX) was maintained as Outperform but the target price was lowered to $172 from $177 (versus a $151.51 close) at Credit Suisse. The move is an update to its EV/EBITDA model based on the Otis and Carrier sum-of-parts.

Vulcan Materials Co. (NYSE: VMC) was downgraded to Equal Weight from Overweight and its target price was lowered to $150 from $177 (versus a $133.95 close) at Stephens. The stock closed down 1.3% on Friday, and its prior consensus target price was $158.76.

Wayfair Inc. (NYSE: W) was downgraded to Underweight from Equal Weight and its target price was lowered to $65 from $75 (versus an $80.14 close) at Morgan Stanley. Wayfair closed down 2.6% on Friday and was indicated down over 5% at $76.00 on Monday.

Williams Companies Inc. (NYSE: WMB) was downgraded to Equal Weight from Overweight at Wells Fargo. Shares were down 2.4% at $21.52 on Friday, with a $27.17 consensus target price. They were indicated down 3% at $20.90 on Monday morning.

Credit Suisse maintained its bullish thesis is intact for stocks despite the inverted yield curve. The firm’s forecast of 3,600 for the S&P 500 implies 7.9% upside over the next 10 months. The outlook is based on three views for 2020:

  1. Per-share earnings growth of roughly 6%
  2. Stronger industrial data
  3. A wide gap between the return of capital to shareholders (i.e. dividends and buybacks) versus low bond yields.

The outlook also remains intact along with risks and concerns about the coronavirus and the upcoming election.

Friday’s top analyst upgrades and downgrades included Albermarle, American Electric Power, Autodesk, Chewy, Domino’s Pizza, HollyFrontier, Livent, NextEra Energy, RealReal, Square, T-Mobile and more.

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