Investing
Top Analyst Upgrades and Downgrades: Citigroup, Enterprise Products, GoPro, Lululemon, Novavax and More
Published:
Last Updated:
Stocks were lower on Friday, but the Nasdaq has had a great week. Despite a bull market that is seven and a half years old, and despite high valuations, investors are still willing and able to buy market pullbacks. These same investors are looking for new ideas on how to make gains or dividends, and they are also looking for ways to keep from losing money.
24/7 Wall St. reviews dozens of analyst upgrades and downgrades each day. Also in the mix are many new coverage initiations, as well as ratings reiterated with price target changes. Some cover stocks to buy and some cover stocks to sell or avoid.
These are this Friday’s top analyst calls from Wall Street.
Citigroup Inc. (NYSE: C) was downgraded to Neutral from Buy with a $50 price target at Goldman Sachs. Its shares closed at $47.08 on Thursday and were indicated down 1% at $46.40 on Friday. The 52-week trading range is $34.52 to $56.46, and the consensus analyst price target is $54.04.
Enterprise Products Partners L.P. (NYSE: EPD) was started as Buy at Evercore ISI Group. The stock closed at $25.96, in a 52-week range of $19.00 to $30.11. The consensus price target is $32.56.
GoPro Inc. (NASDAQ: GPRO) was started as Buy at Merrill Lynch. Shares closed up 8% at $14.16 on Thursday and were indicated up 3% at $14.59 on Friday. The consensus price target is $12.25, and the 52-week range is $8.62 to $35.89.
Lululemon Athletica Inc. (NASDAQ: LULU) was started as Positive with a $77 price target (versus a $66.05 prior close) at Susquehanna. It has a consensus price target of $72.14 and a 52-week range of $43.14 to $81.81.
Novavax Inc. (NASDAQ: NVAX) was last seen down a sharp 80% or more (at $1.36 a share) after its vaccine missed its primary and secondary endpoints. Downgrades were plentiful and from the likes of Piper Jaffray, Citigroup, JPMorgan, Wedbush Securities and Ladenburg Thalmann. The consensus analyst price target was well above $10, based on belief the trial would do well. The old 52-week range was $4.08 to $10.70, and it was mid-2013 that Novavax was last under $2.
Oracle Corp. (NYSE: ORCL) reported earnings and shares were indicated lower on Friday. Jefferies said that this may seem like a typical first quarter on first glance, but the firm actually sees an inflection point in the momentum of the aggregate business and sees business growth clearly in positive territory. RBC Capital Markets reiterated its Outperform rating and $42 target, and Nomura reiterated its Buy rating and $45 target. Oracle’s 52-week range is $33.13 to $42.00.
Wells Fargo & Co. (NYSE: WFC) continues to face pressure after its fake account scandal. The stock was downgraded to Underweight at Atlantic Equities, but early details of the call had not been seen. Shares closed down 0.8% at $46.15 on Thursday and were indicated down another 0.8% at $45.76 early Friday. The 52-week range is $44.50 to $56.34, and the consensus price target is $44.50 to $56.34.
Other key analyst upgrades, downgrades and initiations were seen in the following:
- Boston Beer Co. (NYSE: SAM) was started with an Underperform rating and a $156 price target (versus a $164.50 close) Credit Suisse.
- Comerica Inc. (NYSE: CMA) was raised to Buy from Neutral at Goldman Sachs.
- DSW Inc. (NYSE: DSW) was started as Negative with a $19 target (versus a $23.61 close) at Susquehanna.
- International Game Technology PLC (NYSE: IGT) was started as Buy with a $30 price target at Argus.
- JetBlue Airways Corp. (NASDAQ: JBLU) was started as Buy with a $21 price target (versus a $17.53 close) at Imperial Capital.
- Martin Midstream Partners L.P. (NYSE: MMLP) was started as Neutral with a $22 fair value estimate at Janney.
- Twenty-First Century Fox Inc. (NASDAQ: FOXA) was downgraded to Market Perform from Outperform at Bernstein.
- Watts Water Technologies Inc. (NYSE: WTS) was started as Neutral with a $64 fair value estimate at Janney.
Thursday’s top analyst upgrades and downgrades included Apple, AT&T, Autodesk, Bluebird Bio, Monsanto, Sarepta Therapeutics and many more.
You can follow @Jonogg on Twitter if you want the daily analyst calls and research updates directly on your Twitter feed.
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.