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Friday Afternoon Analyst Upgrades and Downgrades: Altria, Apple, Caterpillar, IBM and More

Markets slid on Friday after earnings from Apple and Amazon failed to impress investors. The S&P 500 pulled back from its record levels on Thursday, while U.S. Treasury yields pushed higher with the 10-year note holding near 1.6%. While Friday might be disappointing to some investors, markets are still near record highs, and analysts seem to be fairly positive on the direction of the markets.

24/7 Wall St. is reviewing some big analyst calls seen on Friday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Amazon, eBay, McDonald’s, Starbucks and more.

Altria Group Inc. (NYSE: MO): Morgan Stanley downgraded the stock to an Equal Weight rating from Overweight and cut the price target to $47 from $52. Shares were trading around $44 on Friday, in a 52-week range of $35.83 to $52.59.

Apple Inc. (NASDAQ: AAPL): Credit Suisse resumed coverage with a Neutral rating and a $150 price target. The 52-week range is $107.32 to $157.26, and the share price is roughly $147.

Caterpillar Inc. (NYSE: CAT): UBS upgraded it to a Buy rating from Neutral and raised the price target to $235 from $232. Shares were trading near $205 on Friday, and the consensus price target is $2225.67.

Check Point Software Technologies Ltd. (NASDAQ: CHKP): Deutsche Bank lifted its Hold rating to Buy and raised the $132 price target to $136. Shares were trading near $120, and the consensus target price is $133.53.

International Business Machines Corp. (NYSE: IBM): Credit Suisse resumed coverage with an Outperform rating and a $172 price target. The 52-week trading range is $107.75 to $152.84, and the share price is near $125.

Proto Labs Inc. (NYSE: PRLB): Benchmark has lowered its Buy rating on the 3D printing company to Hold. The consensus price target is $85.33, and shares were changing hands near $59 apiece.

Solar Winds Corp. (NYSE: SWI): The RBC Capital Markets downgrade to Sector Perform from Outperform included a price target cut to $19 from $28. The 52-week trading range is $14.75 to $25.68, and the share price was below $25.

Xcel Energy Inc. (NASDAQ: XEL): BofA Securities upgraded it to Buy from Neutral and raised the price target to $72 from $67. Shares were trading near $65 on Friday, and the consensus price target is $71.21.

Zoom Video Communications Inc. (NASDAQ: ZM): Evercore ISI started coverage with an In-Line rating and a $255 price target. Shares were trading near $275 on Friday, and the consensus target price is $369.43.


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