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Top Analyst Upgrades and Downgrades: Amex, ADP, Goodyear, McDonald's, National Oilwell Varco, NVIDIA, Vivint Solar and Many More
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Stocks hit all-time highs yet again on Monday and the Dow has now gone above the 24/7 Wall St. 2017 price target issued at the start of this year. The bull market may be well over eight years old now, but investors keep proving that any pullback or any period of economic uncertainty has been a buying opportunity. Those same investors are also looking for new investing and trading ideas for income and gains.
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. Other reports cover stocks to sell or to avoid.
Consensus analyst price target data are from the Thomson Reuters sell-side research service. Additional color and commentary has also been added on most of the daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Tuesday, June 20, 2017.
American Express Co. (NYSE: AXP) was raised to Equal Weight from Underweight with an $82 price target at Stephens. The stock closed up 0.5% at $81.88 on Monday and was indicated up 0.15% at $82.00 on Tuesday. Amex has a 52-week trading range of $57.15 to $82.00.
Automatic Data Processing Inc. (NASDAQ: ADP) was downgraded to Neutral from Buy and was removed from the Conviction Buy list with a price target of $108 (versus a $104.11 prior close) at Goldman Sachs. ADP was indicated to open down 1.5% at $102.51, in a 52-week range of $85.23 to $105.68.
Goodyear Tire & Rubber Co. (NYSE: GT) was raised to Buy from Hold with a $39 price target at Jefferies. Goodyear closed at $33.63 on Monday and was indicated up 1.1% at $34.00 on Tuesday. Its 52-week range is $24.31 to $37.20 and the consensus analyst target price was up at $41.50.
McDonald’s Corp. (NYSE: MCD) was raised to Outperform from Market Perform with a $180 price target at Cowen. It closed up 0.7% at $153.14 on Monday and was indicated up another 0.5% at $154.00 on Tuesday. The 52-week range is $110.33 to $153.90, and the consensus target price is $155.08.
National Oilwell Varco Inc. (NYSE: NOV) was raised to Overweight from Neutral with a $37 price target (versus a $33.58 close) at Piper Jaffray. This is a call that goes against the oil price trend, and the shares were indicated to open down 1.1% at $33.20 on Tuesday along with lower oil prices. The 52-week trading range is $29.79 to $43.63, and the consensus target price is $38.05.
NVIDIA Corp. (NASDAQ: NVDA) was raised to Sector Weight from Underweight at Pacific Crest. It closed up 3.7% at $157.32 on Monday and was indicated up 0.8% more at $158.60 on Tuesday. The shares have a 52-week range of $44.57 to $168.50 and a consensus target price of $131.34.
Vivint Solar Inc. (NASDAQ: VSLR) was raised to Buy from Neutral with a $6 target price at Goldman Sachs. Shares closed up over 8% at $4.35 on Monday and were indicated up another 8% more at $4.70 on Tuesday. Vivint Solar had a consensus target price of $5.17. This will mark a new 52-week high, as the new 52-week range was $2.50 to $4.35 as of the prior trading day.
Credit Suisse said that its proprietary price tracker shows an industry pricing that has been volatile so far in 2017, and it favors Nike Inc. (NYSE: NKE) over Finish Line and Foot Locker.
You can follow @Jonogg on Twitter if you want the daily analyst calls and other research notes directly on your feed.
Other key analyst calls were seen in the following:
Avery Dennison Corp. (NYSE: AVY) was raised to Buy from Neutral with a $96 price target (versus an $86.67 close) at Merrill Lynch.
Boyd Gaming Corp. (NYSE: BYD) Was downgraded to Equal Weight from Overweight with a $26 price target at Morgan Stanley.
Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Hold from Buy at Argus.
Clovis Oncology Inc. (NASDAQ: CLVS) was raised to Buy with a $107 fair value estimate at Janney. Credit Suisse also chimed in with an Outperform rating, and the firm raised its target to $107 from $88 after noting that a major de-risking is behind it.
Cornerstone OnDemand Inc. (NASDAQ: CSOD) was downgraded to Underweight from Equal Weight with a $32 price target (versus a $36.94 close) at Barclays.
CVR Refining L.P. (NYSE: CVRR) was downgraded to Neutral from Outperform at Credit Suisse.
EOG Resources Inc. (NYSE: EOG) was reiterated as Buy with a $119 target price at Argus.
INC Research Holdings Inc. (NASDAQ: INCR) was downgraded to Market Perform from Outperform at William Blair.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was raised to Overweight from Sector Weight at Pacific Crest. Marvell closed up 0.7% at $17.45 on Monday and was indicated up 3% at $17.99 on Tuesday. Marvell has a consensus target price of $19.50 and a 52-week range of $9.05 to $17.93.
New Residential Investment Corp. (NYSE: NRZ) was downgraded to Neutral from Outperform with a $16.50 price target at Wedbush Securities.
ON Semiconductor Corp. (NASDAQ: ON) was downgraded to Sector Weight from Overweight at Pacific Crest.
O’Reilly Automotive Inc. (NASDAQ: ORLY) was downgraded to Neutral from Positive at Susquehanna.
Oracle Corp. (NYSE: ORCL) was reiterated as Buy with a $52 target price (versus a $45.73 close) at Jefferies.
Paychex Inc. (NASDAQ: PAYX) was downgraded to Neutral from Buy with a $64 price target (versus a $61.13 close) at Goldman Sachs. Paychex was indicated down 1.1% at $60.44 on Tuesday.
PBF Energy Inc. (NYSE: PBF) was downgraded to Underperform from Neutral with an $18 price target at Credit Suisse.
Koninklijke Philips N.V. (NYSE: PHG) was downgraded to Hold from Buy at Deutsche Bank. The stock closed up 6.6% at $38.11 on Monday and was indicated down 0.8% at $37.80 on Tuesday. The American depositary shares have a 52-week range of $23.00 to $38.21.
PHH Corp. (NYSE: PHH) was downgraded to Neutral from Outperform with a $14.50 price target at Wedbush.
Roper Technologies Inc. (NYSE: ROP) was reiterated as Buy and the price target was raised to $260 at Argus.
Simon Property Group Inc. (NYSE: SPG) was raised to Buy from Neutral at Goldman Sachs.
Monday’s top analyst calls included Amazon.com, Biogen, Costco Wholesale, Kroger, Travelers, Wayfair and many more.
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