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Top Analyst Upgrades and Downgrades: Cameco, Carvana, Chipotle, Magellan Midstream, Netflix, Puma Bio, SeaWorld and More
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Stocks were indicated marginally lower on Tuesday, but the major equity indexes remain just under all-time highs. The bull market may now be well over eight years old, but investors keep proving that every big sell-off is a buying opportunity. Those same investors also are searching for new investing ideas and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each day in an effort to find new investing and trading ideas for our readers. Some of these analyst reports cover stocks to buy. Other analyst reports cover stocks to sell or stocks to avoid.
Additional color and commentary has also been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Tuesday, July 18, 2017.
Cameco Corporation (NYSE: CCJ) was downgraded to Underperform from Neutral at Credit Suisse, with the firm citing lower long-term uranium prices on reactor outlook. The downgrade was made in Canadian coverage, and the target was cut to C$10.00 from C$13.50 for a reference of what expectations were cut.
Carvana Co. (NYSE: CVNA) was started with a Neutral rating and was assigned a $25 target price (versus $23.02 close) at Wedbush Securities. They like its business model but say shares are near fair value and would wait for a better entry point.
Chipotle Mexican Grill, Inc. (NYSE: CMG) was raised to Buy from Hold with a $470 price target (versus $392.00 close) at Maxim Group. Chipotle shares lost almost 1% on Monday and were indicated up 0.6% at $395.10 on Tuesday. Chipotle’s consensus analyst target price was $449.07 and its 52-week range is $352.96 to $499.00.
Magellan Midstream Partners, L.P. (NYSE: MMP) was raised to Buy from Neutral with a $82 price target (versus $70.90 close) at UBS. Magellan Midstream has a distribution of almost 5% for a yield-equivalent at this time, and it has a 52-week range of $64.25 to $81.77 and a consensus analyst target price of $80.74.
MSCI Inc. (NYSE: MSCI) was started with an Equal Weight rating and was assigned a $110 price target (versus $106.98 close) at Barclays. MSCI has a 52-week range of $76.52 to $109.29 and has a consensus analyst target price of $105.17.
Netflix Inc. (NASDAQ: NFLX) was last seen trading up 9% to $176.40 versus a $161.70 close after earnings, a new high versus a prior 52-week top of $163.54. Wedbush maintained its Underperform rating and $82 target, and while this call has been dead wrong they are sticking with its story of hemorrhaging cash and hoping for content coagulation. Jefferies maintained its Hold rating on valuation, but it did raise its target to $165 from $141. Credit Suisse maintained its Neutral rating, however, it raised its target to $190 from $154.
Puma Biotechnology, Inc. (NASDAQ: PBYI) was reiterated as Outperform, but the price target was raised to $118 from $90 at Credit Suisse, with the firm moving to M&A as the base case now. Puma closed down 3.85% at $86.10 on Monday, but was indicated up 8.7% at $93.60 after its breast cancer treatment was approved by the Food and Drug Administration.
SeaWorld Entertainment, Inc. (NYSE: SEAS) was raised to Neutral from Sell with a $16 price target (versus $14.44 close, after a 3.3% drop) at Goldman Sachs. SeaWorld has a 52-week range of $11.77 to $20.13, and has a consensus analyst target price of $19.75.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) was raised to Outperform from Perform with a $25 price target (versus $21.85 close) at Oppenheimer. SolarEdge has a 52-week range of $11.35 to $22.15, and has a consensus analyst target price of $19.40.
RBC has identified five large-cap oil field giants that now have huge upside potential for longer-term investors.
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Monday’s top analyst upgrades and downgrades were in shares of Ally Financial, Citigroup, Devon, JPMorgan Chase, Restoration Hardware and many more companies.
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