These are Friday’s top analyst upgrades, downgrades and initiations. And a happy New Years wish from 24/7 Wall St.
Apple Inc. (NASDAQ: AAPL) was reiterated Buy and the price target was raised to $125 from $120 at Argus. The firm increased estimates based on iPhone 6 sales of 67.3 million units in the first quarter, for a 32% gain from a year ago, and iPhone revenue up 24% to $40.4 billion. The firm still sees further double-digit earnings per share growth in 2015 and 2016.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was raised to Buy from Hold and the price target was raised to $91 from $66, due to rising sales momentum, at Canaccord Genuity.
CHC Group Ltd. (NYSE: HELI) was downgraded to Neutral from Buy and the price target was slashed in half to $3.50 (versus a $3.22 close) at UBS.
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Cnova N.V. (NASDAQ: CNV) was started as Outperform with a $13 price target (versus a $7.91 close) at Credit Suisse.
Kite Pharma Inc. (NASDAQ: KITE) was maintained as Outperform but the price target was raised to $71 from $34 (versus a $57.67 close) at Credit Suisse. The firm’s target was way behind already, and the upgrade noted strong showing of CAR-T therapies, the recent successful IPO of competitor Juno Therapeutics, and physician enthusiasm for new immune-based and personalized therapies.
Laboratory Corp. of America Holdings (NYSE: LH) was raised to Outperform from Market Perform with a $130 price target (versus a $107.90 close) at Raymond James.
Quest Diagnostics Inc. (NYSE: DGX) was raised to Market Perform from Underperform at Raymond James.
Tidewater Inc. (NYSE: TDW) was maintained as Buy a Argus, but the price target was cut to $53 from $62 (versus a $32.41 close). The firm cut 2015 and 2016 earnings estimates due to slower offshore exploration and production after the recent decline in oil prices.
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