These are this Thursday’s top analyst upgrades and downgrades.
Garmin Ltd. (NASDAQ: GRMN) was downgraded to Neutral from Buy and the price target was cut to $54 from $63 (versus a $47.07 close) at Goldman Sachs. Garmin’s consensus price target remains above $57, but one analyst still has a street-high price target up at $68, as of last look. Also, Garmin hit a 52-week low on Wednesday, so the trend is not a friend right now.
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IMAX Corp. (NYSE: IMAX) was started as Outperform with a $39 price target (versus a $33.53 close) at Macquarie. The consensus price target is $37.58, but one analyst has IMAX’s target price all the way up at $43.50.
Micron Technology Inc. (NASDAQ: MU) has been up and down after earnings, and it closed at $27.13. The chip-maker was maintained as Hold but the target was cut to $30 from $33 at Topeka Capital Markets. Credit Suisse maintained its Outperform rating and $50 target, but lowered its earnings estimates. Needham maintained its Strong Buy rating but lowered the target to $50 from $60 in the call.
Kimberly-Clark Co. (NYSE: KMB) was downgraded to Market Perform from Outperform and the price target was cut to $112 from $125 (versus a $106.85 close) at BMO Capital Markets. The consensus price target was $115 on last look, but sadly this means that the $125 target is no longer the street-high target.
Procter & Gamble Co. (NYSE: PG) was downgraded to Market Perform from Outperform and the price target was cut all the way down to $84 from $100 (versus a $82.32 close) at BMO Capital Markets. The consensus target is $92.68, and the street-high analyst price target is still up at $105, versus a 52-week high of $93.89.
TrovaGene Inc. (NASDAQ: TROV) was started as Buy with a $11 fair value estimate (versus a $6.75 close) at Janney Capital Markets, based on the company being poised to transform how doctors detect cancer and monitor treatment. The prior high call from the three analysts who cover TroveGene was $10.
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Other Key Analyst Upgrades, Downgrades and Initiations for Thursday
Agile Therapeutics Inc. (NASDAQ: AGRX) was started as Outperform with a $17 price target (versus a $9.40 close) at FBR Capital Markets. The consensus target is also at $17, and the highest analyst target is $20.
Coty Inc. (NYSE: COTY) was downgraded to Market Perform from Outperform with a target price of $24 (versus a $24.21 close) at BMO Capital Markets.
Deckers Outdoor Corp. (NYSE: DECK) was started as Buy with an $85 price objective (versus a $79.80 close) at Bank of America Merrill Lynch.
Dick’s Sporting Goods Inc. (NYSE: DKS) was raised to Positive from Neutral at Susquehanna.
Infinera Corp. (NASDAQ: INFN) was downgraded to Neutral from Buy, but the price target was raised to $22 from $19 (versus a $19.33 close), at Goldman Sachs.
Lion Biotechnologies Inc. (NASDAQ: LBIO) was started as Outperform at FBR Capital Markets.
Macerich Co. (NYSE: MAC) was raised to Neutral from Sell, but the price target was cut to $80 from $84, at UBS. Credit Suisse raised its rating to Neutral from Underperform.
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Mosaic Co. (NYSE: MOS) was raised to Sector Perform from Underperform with a $47 target (versus a $45.47 close) at CIBC.
Mueller Water Products Inc. (NYSE: MWA) was started as Outperform with a $12 price target (versus a $9.86 close) at Oppenheimer.
Steven Madden Ltd. (NASDAQ: SHOO) was raised to Overweight from Neutral with a $43 price target (versus a $37.49 close) at Piper Jaffray.
Stryker Corp. (NYSE: SYK) was downgraded to Underweight from Equal Weight at Barclays.
Targa Resources Corp. (NYSE: TRGP) was reinstated with a Buy rating at Citigroup.
Targa Resources Partners L.P. (NYSE: NGLS) was reinstated with a Neutral rating at Citigroup.
TrueCar Inc. (NASDAQ: TRUE) was started as Sell with a $10 price target (versus a $17.00 close) at B. Riley. Shares are indicated 3% lower on the call, with no other news seen.
Williams Companies Inc. (NYSE: WMB) was maintained as Buy at Argus, but the firm lowered its price target to $58 from $61 (versus a $50.05 close).
World Point Terminals L.P. (NYSE: WPT) was raised to Buy from Neutral at Merrill Lynch. This is just two days after Credit Suisse cut its rating to Underperform from Outperform and cut the price target to $19 from $24, and it is three days after Stifel cut its rating to Hold from Buy.
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In case you missed Wednesday’s top analyst upgrades and downgrades, they included Alibaba, Altera, Dyax, Hewlett-Packard, Kinder Morgan, Michael Kors, Staples, Twitter and a dozen or so more.
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