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Top Analyst Upgrades and Downgrades: Costco, Domino's Pizza, Fortinet, Verizon, Yum Brands and More
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After a huge Thursday in which the markets soared, the futures traded flat to modestly higher Friday morning. With earnings still coming in hot and heavy, many on Wall Street are encouraged by the overall positive numbers that corporate America has presented for the first quarter. With more on the way, we will continue to get a good look at corporate health and the prospects for the second quarter.
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.
Allergan Inc. (NYSE: AGN) was removed from the US Focus List at Citigroup. Its 52-week trading range is $184.50 to $261.27. The Wall Street consensus price target is $268.67. The stock closed trading on Thursday at $237.94.
Costco Wholesale Corp. (NASDAQ: COST) was raised to Overweight from Equal Weight at Barclays. The 52-week range for the retail behemoth is $133.57 to $178.51, and the consensus price objective is posted at $182.87.
Canadian Pacific Railway Ltd. (NYSE: CP) was downgraded to Hold from Buy at a firm called Loop Capital. The 52-week range is $119.50 to $157.34, and the consensus price objective is $161.67. The shares closed at $153.78 on Thursday up over 2.5%, so a possible valuation call.
Domino’s Pizza Inc. (NYSE: DPZ) was started with a Buy rating at Guggenheim. The 52-week range is $116.91 to $192.01, and the consensus price target is $194.33. The shares closed Thursday at $176.91.
Fortinet Inc. (NASDAQ: FTNT) was raised to Outperform from Market Perform at BMO Capital. The 52-week range is $28.51 to $39.03, and the consensus price objective is $41.51. The stock closed trading Thursday at $38.51.
McDonald’s Corp. (NYSE: MCD) was started with an Outperform rating at BMO Capital. The 52-week range for the fast-food giant is $110.33 to $133.34. The consensus price target is $135.70, and shares closed Thursday at $133.27.
Verizon Communications Inc. (NYSE: VZ) was downgraded to Hold from Buy at Argus on the heels of the company’s poor earnings report, in which it reported for the first time in the company’s history losing wireless subscribers and a 20% profit decline. The 52-week range is $46.01 to $56.95. The consensus price target is $51.39, and the stock close Thursday at $48.41.
Yum! Brands Inc. (NYSE: YUM) was started with a rating of Market Perform at BMO Capital. The 52-week range of the shares $56.31 to $68.98, and the consensus price objective is $69.76. The stock closed Thursday at $65.04.
Other key analysts upgrades and downgrades were seen in the following:
Antares Pharma Inc. (NASDAQ: ATRS) was started with a rating of Strong Buy at Raymond James. The 52-week range is $0.79 to $3.10. The consensus price objective is $4.67. The stock closed Thursday at $2.76.
Brandywine Realty Trust (NYSE: BDN) is raised to Buy from Hold at Stifel, and the firm raised the price target to $19 from $17. The 52-week range is $14.04 to $17.11. The consensus price target is $16.86, and the shares closed just below that level Thursday at $16.85.
CSX Inc. (NYSE: CSX) is raised to Outperform from Market Perform at Raymond James. The 52-week range is $24.43 to $51.28. The consensus price target is $52.58, and the shares closed Thursday at $49.58.
Cascadian Therapeutics Inc. (NASDAQ: CASC) was started with a Buy rating at BTIG Research. The 52-week range is $0.62 to $6.72, and the consensus price target is $3.90. The shares closed Thursday at $3.92.
Humana Inc. (NYSE: HUM) was downgraded to Hold from Buy at Jefferies. The 52-week range for the shares is $150 to $220.49, and the consensus price target is $224.48. With shares closing Thursday at $214.24, this also could be a valuation call.
24/7 Wall St.Gigamon Inc. (NYSE: GIMO) was raised to Buy from Hold at Stifel, and the analyst raised the price target on the shares to $40 from $32, citing solid risk reward at current trading levels. The 52-week range is $28.43 to $61.25, and the consensus price target is $38.61. The stock closed Thursday at $35.
Magellan Midstream Partners L.P. (NYSE: MMP) was started with a Neutral rating at Macquarie. The 52-week range is $64.25 to $81.77, and the consensus price target is $82.94. Shares closed Thursday at $75.91.
Maxim Integrated Products Inc. (NASDAQ: MXIM) was downgraded to In Line from Outperform at Evercore ISI. The 52-week range is $33.39 to $46.22, and the consensus price objective is $46.96. Shares closed just below that Thursday at $45.45, so this could be a valuation call.
Six Flags Entertainment Corp. (NYSE: SIX) was started with a Buy rating at Stifel with a $70 price target. That compares with a Wall Street consensus target of $ 65.75. The 52-week range is $47.62 to $62.59. The shares closed Thursday at $61.14.
Syntel Inc. (NASDAQ: SYNT) saw its price target lowered at Needham from $23 to $21, as the analysts cited lower forward guidance from the company. The firm did keep a Buy rating on the shares. The 52-week is $15.82 to $48.41, and the consensus price objective is $21.11. Shares closed Thursday at $16.71.
In case you missed it, here are Thursday’s top analyst upgrades and downgrades. They included Amazon, Gap, Goldman Sachs, Starbucks, Time Warner and many more.
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