Investing
Top Analyst Upgrades and Downgrades: CBOE, Comcast, GW Pharma, Hormel, Vonage, Wells Fargo and Many More
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Stocks were indicated higher on Tuesday after Monday’s first presidential debate. 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. They also are 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 being reiterated with price target changes. Some of these analyst calls cover stocks to buy, and some cover stocks to sell or avoid.
These are this Tuesday’s top analyst calls from Wall Street:
CBOE Holdings Inc. (NASDAQ: CBOE) was downgraded to Sector Perform from Outperform at RBC Capital Markets, and the firm lowered its price target to $68 from $78. The firm thinks that CBOE’s move to acquire BATS for $3.2 billion will create a larger financial exchange, but it is not necessarily a better exchange. Credit Suisse raised CBOE to Neutral from Underperform on the move.
Comcast Corp. (NASDAQ: CMCSA) was reiterated as Buy at Argus, and the firm’s target of $81 compares to a $65.81 prior close. The move is due to an ability to boost net subscriber additions and/or to ameliorate subscriber losses, and on word that Comcast plans its own wireless offering.
GW Pharmaceuticals PLC (NASDAQ: GWPH) was reiterated as Buy and the price target was raised to $182 from $165 at Cantor Fitzgerald.
Vonage Holdings Corp. (NYSE: VG) was reiterated as Buy and the price target was raised to $9 from $8 at Needham.
Wells Fargo & Co. (NYSE: WFC) was maintained as Outperform at FBR Capital Markets, but the firm did use the recent weakness and negative public relations from the account openings to lower the price target to $50 from $63.
Hormel Foods Corp. (NYSE: HRL) was reiterated as Outperform at Credit Suisse, but more importantly it was added to its US Focus List after management gave good indications for 2017 guidance.
Other key analyst upgrades, downgrades and initiations were seen in the following:
Array BioPharma Inc. (NASDAQ: ARRY) was reiterated as Overweight but the price target was raised from $7 to $10. Shares were up 81% to $6.61 on Monday, and they were indicated up 10% at $7.28 on Tuesday morning. Leerink also raised its price target to $9 from $6, along with a reiterated Outperform rating.
Oceaneering International Inc. (NYSE: OII) was started with a Neutral rating and was assigned a $27 price target at Citigroup.
Columbia Pipeline Partners L.P. (NYSE: CPPL) was downgraded to Neutral from Overweight at JPMorgan. Credit Suisse also lowered its price target to $18 from $23 but maintained its Outperform rating.
NovaGold Resources Inc. (NYSE: NG) was raised to Overweight from Neutral at JPMorgan.
Sierra Wireless Inc. (NASDAQ: SWIR) was started as Sector Perform at National Bank.
J.M. Smucker Co. (NYSE: SJM) was downgraded to Neutral from Outperform at Credit Suisse. The firm’s target went down to $145 from $158, as there are no easy answers to stabilize pet declines.
Synergy Resources Corp. (NYSEMKT: SYRG) was started as Outperform with a $9 price target at RBC Capital Markets.
Also note that analysts have six biotech stock picks with 50% to 150% in potential upside.
These five sin stocks pay solid dividends and have solid upside.
And one more Fed member is calling for higher bank capital reserves.
Monday’s top analyst calls included AmSurg, Invesco, Monsanto, NetApp, Twitter, Ericsson, Pentair and many more.
You can follow @Jonogg on Twitter if you want the daily analyst calls and research updates directly on your Twitter feed.
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