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Top Analysts Upgrades and Downgrades: Apple, Biogen, FedEx, GE, Las Vegas Sands and More
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After a down day when the Federal Reserve raised interest rates on Wednesday, the market rallied again yesterday, although it closed well off the morning highs. It appears the rally can push into January, as few portfolio managers and investors are inclined to take capital gains this year, especially short term, when it is looking like we could see some meaningful tax reform next year. Futures were trading higher again in the premarket, as the market is poised for another solid Trump rally week.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations.
Apache Corp. (NYSE: APA) was downgraded to Market Perform from Outperform at Wells Fargo. The 52-week trading range for the stock is $32.20 to $69, and the consensus price objective on Wall Street is $63.63. Shares closed above that level Thursday at $66.74.
Apple Inc. (NASDAQ: AAPL) is resumed with an Overweight rating at Piper Jaffray. The 52-week range is $89.47 to $118.69, while the consensus price target is $131.84. The shares closed Thursday at $115.82.
Automatic Data Processing Inc. (NYSE: ADP) is raised to Buy from Neutral at Goldman Sachs. In addition, the stock is added to the firm’s prestigious Conviction Buy list. The 52-week range is $76.65 to $95.25. The consensus price target is $93.40, but shares closed above that level on Thursday at $98.76.
Biogen Inc. (NASDAQ: BIIB) was started with a Neutral rating at Cantor Fitzgerald. The 52-week range is $223.02 to $333.65. The consensus price target is $340.07. The stock closed Thursday at $286.97.
FedEx Inc. (NYSE: FDX) is reiterated at Outperform at Cowen, and the firm raised its price target on the transportation leader to $240. That compares with a consensus price target of $201.86. The 52-week range is $119.71 to $201.57. The shares closed yesterday at $197.92.
First Data Inc. (NYSE: FDC) was started with an Overweight rating at Pacific Crest. The 52-week range is $8.37 to $16.82. The consensus price objective is $17.20. The stock closed Thursday at $14.25.
General Electric Co. (NYSE: GE) was raised to Outperform from Market Perform at Bernstein. The 52-week range for the industrial giant is $27.10 to $33. The consensus price objective is $33.31. The stock closed Thursday at $31.26.
Las Vegas Sands Corp. (NYSE: LVS) was started at Conviction Buy at Goldman Sachs. The 52-week range is $38.88 to $63.38. The consensus price target is $60.63. The stock closed yesterday at $56.19.
Royal Caribbean Cruises Ltd. (NYSE: RCL) was started at Neutral at Goldman Sachs. The 52-week range is $64.21 to $103.40. The consensus price target is posted at $92.72. The shares closed most recently at $85.54.
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Other key analysts upgrades and downgrades were seen in the following:
Diamond Offshore Inc. (NYSE: DO) was downgraded to Underperform from Sector Perform at RBC Capital Markets. The firm oddly raised its price target on the driller to $22 from $19. The 52-week range is $14.18 to $26.72, and the consensus price target is $17. The stock closed yesterday at $19.35.
Darden Restaurants Inc. (NYSE: DRI) was downgraded to Hold from Buy at Deutsche Bank. The 52-week range is $55.77 to $79.43. The consensus price objective is $70.95. The shares closed yesterday at $75.76, so this could be a valuation call.
Duke Energy Corp. (NYSE: DUK) was downgraded to Underweight from Neutral at JPMorgan. The 52-week range for the utility is $68.78 to $87.85, and the consensus price target is $81. The shares closed Thursday at $76.03.
Healthcare Trust of America Inc. (NYSE: HTA) was started at Buy at Jefferies. The 52-week range is $25.90 to $34.64, and the consensus price objective is $33.18. The shares closed on Thursday at $27.64.
Horizon Pharmaceutical Inc. (NASDAQ: HZNP) was raised to Buy from Neutral at Mizuho, and the firm placed a $25 price target on the shares. The 52-week range for the stock is $13.05 to $23.44, and the consensus price target is $27.17. The stock closed yesterday at $14.93.
Newell Brands Inc. (NYSE: NWL) was started with a Market Perform rating at BMO Capital. The 52-week range is $33.25 to $55.45, and the consensus price target is $58.79. The shares closed yesterday at $46.68.
Parsley Energy Inc. (NYSE: PE) was started at a Buy rating at Drexel Hamilton. The 52-week range is $14.51 to $39.82. The consensus price objective is $43.32. The stock closed yesterday at $35.57.
SBA Communications Corp. (NASDAQ: SBAC) was started at Neutral at Guggenheim The 52-week trading range was not available, and the consensus price target is posted at $127.53. The stock closed trading yesterday at $101.96.
Sotheby’s (NYSE: BID) was raised to Outperform from Market Perform at Cowen. The 52-week range for the auction giant is $18.86 to $41.50, and the consensus price target is $36.50. Shares closed above that level Thursday at $38.38.
Square Inc. (NYSE: SQ) was started with a Buy rating at Needham. The company placed a $17 price objective on the company, and the consensus target is posted at $13.63. The 52-week trading range of the company is $8.06 to $15.91. The shares closed yesterday at $14.13.
Werner Enterprises Inc. (NASDAQ: WERN) was downgraded to Sell from Hold at Stifel. The 52-week trading range for the company is $20.91 to $29.05, and the consensus price objective on Wall Street is $25.23. The shares closed yesterday at $27.70.
If you missed Thursday’s top analyst upgrades and downgrades, the included Advanced Micro Devices, Comerica, General Mills, Mastercard, Vertex Pharmaceuticals and more.
Furthermore, see which Merrill Lynch US 1 stocks could be poised for a big 2017.
And Deutsche Bank has five top pick semiconductor stocks to buy for 2017.
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