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Top Analyst Upgrades and Downgrades: Adobe, Alibaba, Apple, Pandora, Vodafone, Cigna, Lexicon Pharma and Many More
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Stocks were indicated to open slightly lower on Monday after some of the top momentum and crowded technology companies took it on the chin on Friday. Still, a rotation took place into more stable names and into other sectors as the top market darlings slid. This bull market is now over eight years old and investors have shown for years that they will buy every stock market sell-off. Those same investors are also looking for new investing and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy. Others cover stocks to sell or to avoid.
The consensus analyst price target data are the mean of the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of the daily analyst calls.
24/7 Wall St. took a look at the news flow and the trading from Friday about those key tech stocks to see if the market has peaked or if this is healthy and representative of sector rotation.
These were the top analyst upgrades, downgrades and other research calls from Monday, June 12, 2017.
Adobe Systems Inc. (NASDAQ: ADBE) was downgraded to Sell from Hold with a $112 price target (versus a $138.05 prior closing price) at Pivotal Research. It was down 3.2% on Friday and was indicated down another 2.8% at $134.25 on Monday. Adobe has a 52-week trading range of $90.35 to $144.34 and had a consensus analyst target price of $145.27.
Alibaba Group Holding Ltd. (NYSE: BABA) was reiterated as Buy at Jefferies, but the firm raised its target price to $160 from $122 on Monday. Shares were down 2% at $139.44 on Friday and indicated down 0.4% at $138.80 on Monday. Alibaba has a 52-week range of $73.30 to $148.29 and a consensus target price of $144.23.
Apple Inc. (NASDAQ: AAPL) was downgraded to Neutral from Buy and the price target was cut to $150 from $160 at Mizuho. Apple shares were down almost 4% at $148.98 on Friday, and the stock was down other 2.3% at $145.50 on Monday morning. Mizuho noted that the enthusiasm about the upcoming iPhone 8 now appears to be fully reflected in the stock price after such strong gains in 2017. The firm is also worried that the iPhone 8 will not meaningfully expand its user base due to pricing.
Pandora Media Inc. (NYSE: P) was maintained as Outperform with a $15 target price (versus an $8.52 close) at Wedbush Securities. The firm is encouraged by the renewed core focus and profitability, even if it dislikes convertible stock financing. Pandora was downgraded to Perform from Outperform at Oppenheimer but was raised to Outperform from Market Perform at FBR Capital Markets. Credit Suisse kept a Neutral rating on Pandora but cut its target to $11 from $12.
Vodafone Group PLC (NASDAQ: VOD) was raised to Buy from Hold at Argus with a $32 price target (versus a $28.46 close) for its American depositary shares. They were indicated up 1.3% at $28.84 on Monday, versus a consensus target price of $34.11. The Argus view on Vodafone is after it met earnings expectations but gave stronger 2018 guidance, and it noted that the balance sheet is solid and that after a dividend hike it now yields about 5.7%.
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Other top analyst calls were seen in the following:
American Tower Corp. (NYSE: AMT) was downgraded to Outperform from Strong Buy at Raymond James.
arGEN-X N.V. (NASDAQ: ARGX) was reiterated as Outperform and the price target was raised to $24 from $18 (versus a $20.29 close) at Wedbush.
Cigna Corp. (NYSE: CI) was started as Outperform with a $185 price target (versus a $166.74 close) at Credit Suisse.
Digital Realty Trust Inc. (NYSE: DLR) was raised to Outperform from Market Perform at Cowen.
Finisar Corp. (NASDAQ: FNSR) was reiterated as Buy with a $34 price target (versus a $25.04 close) at Jefferies. The firm noted that datacom optics demand is on fire due to hyperscale demand and likely will continue to be for the foreseeable future
G1 Therapeutics Inc. (NASDAQ: GTHX) was started as Outperform with a $31 target price (versus $18.59 close) at Wedbush. The firm called it stopping the cycle of bad drugs with its two lead programs, each having blockbuster drug potential. Other new ratings: started as Outperform with a $31 target at Cowen, started as Buy with a $34 target at Needham and started as Overweight at JPMorgan.
Health Insurance Innovations Inc. (NASDAQ: HIIQ) was started with a Buy rating and given a $28 price target (versus a $20.25 close) at Craig-Hallum. It has a 52-week range of $3.72 to $22.95 and a consensus target price of $27.50.
24/7 Wall St.Henry Schein Inc. (NASDAQ: HSIC) was started as Neutral with a $200 price target (versus a $185.75 close) at Piper Jaffray.
Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) was maintained as Outperform with a $39 target price (versus a $16.40 close) at Wedbush. The firm noted that Sotagliflozin for Type 1 diabetes that its ADA presentations strengthen its clinical profile.
SBA Communications Corp. (NASDAQ: SBAC) was downgraded to Outperform from Strong Buy at Raymond James.
UDR Inc. (NYSE: UDR) was downgraded to Underperform from In-Line at Evercore ISI.
Vical Inc. (NASDAQ: VICL) was started as Buy with a $9 target (versus a $2.33 close) at Rodman & Renshaw.
Credit Suisse has released its top picks, and four of the mid-cap and large-cap picks have 50% to 100% upside to the firm’s own price targets.
Merrill Lynch is remaining positive about some top semiconductor stocks despite the fresh selling pressure.
Friday’s top analyst calls included Advanced Micro Devices, Camping World, Endo International, Nordstrom, NVIDIA, Snap, Starbucks, Zynga and over a dozen more.
Last week’s analyst calls included eight big oil and gas stocks to buy for large upside.
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