Investing

Top Analysts Upgrades and Downgrades: Abbott Labs, General Dynamics, Nexstar Media, Owens Corning, Palo Alto Networks, Salesforce and More

Lee Jackson

Published: March 1, 2017 9:15 am

Last Updated: January 12, 2020 2:23 pm

The futures are looking much higher this morning after a very positive speech from President Donald Trump to a joint session of Congress last night. Trump’s big spending plans and massive tax cuts are expected to be positive for the economy with the hope that job creation will follow. While the market remains expensive, shares look to trade higher today.

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 Wednesday’s top analyst upgrades, downgrades and initiations.

Abbott Labs Inc.’s (NYSE: ABT) price target was raised to $50 from $46 at RBC Capital Markets. That compares with a Wall Street consensus target of $47.46. The 52-week trading range for the health care giant is $36.76 to $45.79. The shares closed trading on Tuesday $45.08.

GMS Inc. (NYSE: GMS) was raised to Outperform from Neutral at Robert Baird, and the price target on the shares went to $36 from $32. The consensus price target is $32.50. The 52-week range is $19.28 to $31.61. The stock closed Tuesday at $30.08.

General Dynamics Corp. (NYSE: GD) was downgraded to Neutral from Buy at Citigroup. The 52-week range for the stock is $127.74 to $191.31, and the consensus price target is $203.06. The stock closed Tuesday at $189.81.

Inogen Inc.’s (NASDAQ: INGN) price target was raised to $83 from $78 at Needham. That compares to a consensus price objective of $69. The company beat earnings and raised guidance for 2017. Its 52-week trading range is $32.49 to $70.50. The stock closed Tuesday at $68.62.

Lexicon Pharmaceutical Inc.’s (NASDAQ: LXRX) target price was raised to $38 from $33 at Wedbush, and the stock remains on the Wedbush Best Ideas List. The 52-week range is $10.45 to $19.62. The consensus price objective is $24.67. The stock closed Tuesday at $16.05.

Nexstar Media Group Inc. (NASDAQ: NXST) was reiterated at an Outperform rating at Wedbush, and the firm raised the price target to $80 from $75. That compares with a consensus price target of $74. The 52-week range is $41.91 to $70.35, and the stock closed Tuesday at $68.95.

Northrop Grumman Corp. (NYSE: NOC) was downgraded to Neutral from Buy at Citigroup. The 52-week range for the defense giant is $185.08 to $253.80. The consensus price target is $258.61. The stock closed at $247.09.

Owens Corning Inc. (NYSE: OC) was raised to Buy from Neutral at Merrill Lynch. The 52-week range for the shares is $43.68 to $59.16, while the consensus price target is $58.80. Shares closed right near that level at $58.49.

Palo Alto Networks Inc. (NYSE: PANW) was downgraded to Neutral from Buy at Robert Baird, and the firm lowered its price target to $130 from $175. The current consensus price target is $172.37. The 52-week range is $114.64 to $165.69. The shares closed Tuesday at $151.90 but were trading down almost 20% in the premarket.

Salesforce.com Inc.’s (NYSE: CRM) target price was raised to $102 from $98 at Wedbush, which is advising clients to buy shares on any pullback. The firm reiterated its Outperform rating on the stock. The 52-week range is $66.43 to $84.48, and the consensus price target is $94.18. The stock closed Tuesday at $81.35, and it was down in Wednesday’s premarket.

Other key analysts upgrades and downgrades were seen in the following.

Avigilon Corp. (NASDAQ: AIOCF) was raised to Outperform at Raymond James. The 52-week range is $5.90 to $11.85, and the consensus price objective was not posted. The stock closed most recently at $11.33.

Bank of Montreal Inc. (NYSE: BMO) was raised to Sector Outperform from Sector Perform at Scotia. The 52-week range is $55.52 to $78. The consensus price target is $75.87. The stock closed Tuesday at $75.63.

Dril-Quip Inc. (NYSE: DRQ) was downgraded to Neutral from Buy at Guggenheim. Its 52-week range is $46.90 to $69.40, and the consensus price target is posted at $57.32. The stock closed at $61.35, down 8.5% on the day.

Envision Healthcare Inc.’s (NASDAQ: EVHC) price target was lowered to $80 from $87 at RBC Capital Markets. That compares to a current consensus target of $40.90. The 52-week range is $18.44 to $74.45, and shares closed most recently at $70.

Goodrich Petroleum Corp. (NASDAQ: GDPP) was initiated with a Buy rating at Roth. The 52-week range is $10.05 to $16. The consensus price target is $16, and the shares closed at $14.

Itron Inc.’s (NASDAQ: ITRI) price target was raised to $74 from $70 at Needham. That compares with a consensus target price of $69. The company is the firm’s top pick in Advanced Industrial. The 52-week trading range is $39.01 to $66.45. The shares closed Wednesday at $64.70.

Ross Stores Inc.’s (NASDAQ: ROST) price target was raised to $77 from $70 at Telsey Advisory Group. The stock was reiterated with a Market Perform rating. The 52-week range is $52 to $69.81, while the consensus price target is $71.40. The shares closed Tuesday at $68.58.

Stone Energy Inc. (NYSE: SGY) was raised to Buy at National Securities. The 52-week range is $2.70 to $37, and the consensus price target is $3.00. The shares closed at $6.95.

In case you missed it, here are Tuesday’s top analyst upgrades and downgrades. They included Apple, CVS Health, Priceline, Teva Pharmaceutical, Workday and many more.

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