Investing

Top Analyst Upgrades and Downgrades: ABB, Apple, Baidu, Casper, GE, Groupon, JPMorgan, Micron, PPD, Verizon, Wayfair and More

Jon C. Ogg

General Electric Co. (NYSE: GE) just lost part of its most bearish analyst out there, with some caution remaining. JPMorgan upgraded GE to Neutral from Underweight and raised its target price to $8 from $5. UBS reiterated its Buy rating and raised its target to $15 from $14. The move comes after GE closed up over 4% at $10.88 on Friday, breaking a 10-day consecutive losing streak.

Groupon Inc. (NASDAQ: GRPN) was named as the Zacks Bear of the Day stock. The firm said that this dying company has been struggling to maintain its competitive edge in a saturating market. Shares last closed at $1.34 and have a consensus price target of $1.94.

Iqiva Holdings Inc. (NYSE: IQV) was started with a Buy rating and a $190 target price (versus a $139.49 close) at Deutsche Bank.

JPMorgan Chase & Co. (NYSE: JPM) was raised to Overweight from Neutral and assigned a $149 target price at Piper Sandler. JPMorgan shares closed down over 4.3% at $116.11 on Friday and were indicated down another 1.5% at $114.34 on Monday. The consensus target price was $138.92, and the 52-week trading range is $98.09 to $141.10.

Micron Technology Inc. (NASDAQ: MU) was raised to Neutral from Underperform and the target price was raised to $55 from $45 at Robert W. Baird.

PPD Inc. (NASDAQ: PPD) has seen its quiet period come to an end and its shares closed down 2.4% at $27.88 on Friday, in a post-IPO range of $26.50 to $33.23. Goldman Sachs started it with a Buy rating and a $34 target price, Robert W. Baird as Outperform with a $35 target, Mizuho as Buy with a $32 target price, Barclays at Overweight with a $33 target and Credit Suisse as Outperform with a $32 target price.

Regions Financial Corp. (NYSE: RF) was raised to Outperform from Neutral with an $18 target price (versus a $13.52 close) at Robert W. Baird.

SmileDirectClub Inc. (NASDAQ: SDC) was downgraded to Neutral from Buy and its target price was slashed to $9 from $18 (versus a $7.48 close) at UBS.

Tilray Inc. (NASDAQ: TLRY) was maintained as Neutral at Cantor Fitzgerald, but the firm lowered the target price to $19.50 from $26.00. Shares closed down 0.7% at $14.43 on Friday, with a $24.00 consensus target price. The stock was indicated up over 2% at $14.75 on Monday.

Verizon Communications Inc. (NYSE: VZ) was raised to Outperform with a $61 target price at Cowen.

Vocera Communications Inc. (NYSE: VCRA) was maintained as Sector Perform at RBC Capital Markets, but the firm raised its target to $26 from $22.

Wayfair Inc. (NYSE: W) was down 10.1% at $63.21 on Friday. Credit Suisse maintained it as Outperform but lowered its target price to $110 from $125, and Stephens maintained its Equal Weight rating but lowered its target price to $65 from $80.

Western Digital Corp. (NASDAQ: WDC) was raised to Buy from Hold and its target price was raised to $73 from $63 at Stifel.

While gold took a massive hit of 3.6% on Friday as investors locked in gains and used it as a source of funds, many investors from retail and institutional sides look at gold as a safe haven during uncertain times. Five key gold-mining winners could be seen on Wall Street’s partial view that gold could run up to all-time records if the coronavirus situation worsens.

If you are worried about the economic decay around the coronavirus fears, there are eight non-traditional economic strategies that the Federal Reserve and the government can take to keep the economy rolling if the situation gets far worse and if the dismal fresh report on economic activity in China becomes the new expectation here.

Friday’s top analyst upgrades and downgrades included Beyond Meat, CBOE, Chesapeake Energy, Dollar General, FLIR Systems, Gilead Sciences, Lyft, Novavax, RBS, Uber, Zoom Video Communications and many more.