Investing
Top Analyst Upgrades and Downgrades: Chipotle, Dick's, Gentex, HP, Lowe's, Teva and Many More
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Stocks were indicated to open higher on Thursday after Wednesday’s sell-off. The markets remain close to all-time highs, and the one theme that has ruled for over half of the eight-year bull market is that investors keep finding new reasons to buy stocks after every sell-off. Many investors are also on the hunt for new investing and trading ideas to generate gains and income.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy, but some calls cover stocks to sell or to avoid.
Additional color and commentary has 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 Thursday, August 24, 2017.
Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Equal Weight from Underweight with a $325 target price (versus a $297.09 prior close) at Stephens. It has a 52-week trading range of $296.00 to $499.00 and a consensus analyst target price of $390.08. Chipotle shares are now close to a five-year low.
Dick’s Sporting Goods Inc. (NYSE: DKS) was downgraded to Market Perform from Outperform with a $28 price target (versus a $26.53 close) at Cowen. Dick’s has a 52-week range of $25.94 to $62.88 and a consensus target price of $31.56.
Gentex Corp. (NASDAQ: GNTX) was raised to Outperform from Neutral with a $22 price target (versus a $17.36 close) at Robert W. Baird. The 52-week range is $16.06 to $22.12, and the consensus target price is $20.40. Shares closed up 2% on Wednesday and were indicated up another 3% at $17.88 on Thursday.
HP Inc. (NYSE: HPQ) was down 0.8% at $18.86 on Wednesday and was indicated down 1% more at $18.65 on Thursday. HP saw Maxim Group maintain its Buy rating and raise its target to $22 from $21. Jefferies maintained its Hold rating and raised its target to $19.00 from $18.75. Merrill Lynch reiterated its Buy rating with a $22 price objective. HP has a 52-week range of $13.55 to $19.58.
Lowe’s Companies Inc. (NYSE: LOW) was downgraded to Market Perform from Outperform with an $82 price target (versus a $73.01 close) at BMO Capital Markets. Credit Suisse maintained its Outperform rating but lowered its target price to $83 from $94. Lowe’s was reiterated as Buy with a $95 price target at Argus, with the firm indicating that Lowe’s can boost its comparable-sales growth and slightly improve gross margins. The stock has a 52-week range of $64.87 to $86.25.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Underperform from Neutral at Credit Suisse, and while the firm is just another throwing in the towel, it noted multiple challenges facing Teva ahead. The shares were down 3% to $16.49 on Wednesday, and the 52-week range is $16.45 to $52.66. With shares indicated down 1.6% at $16.22 before Thursday’s opening bell, it looks like another multiyear low will be set.
There are currently 12 big financial institutions in banking and insurance trading under book value after the recent financial sell-off.
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Other key analyst calls were seen in the following:
Agile Therapeutics Inc. (NASDAQ: AGRX) recently completed the sale of 5.3 million shares at $3.75 per share to raise just over $18 million. Janney has updated its model and reiterated a Buy rating while lowering its fair value estimate to $13 from $15 (versus a $3.31 close).
Canadian Pacific Railway Ltd. (NYSE: CP) was raised to Buy from Hold at Loop Capital.
Core Laboratories N.V. (NYSE: CLB) was raised to Outperform from Neutral with a $110 price target (versus a $90.15 close) at Credit Suisse.
Corvus Pharmaceuticals Inc. (NASDAQ: CRVS) was raised to Neutral from Underperform and the price target was raised to $14 from $12 at Credit Suisse.
DXC Technology Co. (NYSE: DXC) was reiterated as Buy and the price target was raised to $100 from $85 (versus an $85.51 close) at Jefferies.
Eaton Vance Corp. (NYSE: EV) was raised to Neutral from Underweight with a $48 price target (versus a $46.26 close) at JPMorgan.
Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) was started with a Buy rating and assigned a $12 price target (versus a $4.53 close) at H.C. Wainwright.
Forum Energy Technologies Inc. (NYSE: FET) was downgraded to Neutral from Outperform and the price target was cut to $12 from $23 at Credit Suisse, citing margin uncertainty and lower earnings expectations in 2018.
Intra-Cellular Therapies Inc. (NASDAQ: ITCI) was raised to Outperform from Market Perform with a $24 price target (versus a $14.39 close) at JMP Securities.
Netlist Inc. (NASDAQ: NLST) was started with a Buy rating and assigned a $2 price target (versus a $0.63 close) at Roth Capital.
ONEOK Inc. (NYSE: OKE) was reiterated as Buy and the price target was raised to $59 from $55 at Argus.
Portola Pharmaceuticals Inc. (NASDAQ: PTLA) was raised to Outperform from Neutral with a $70 price target (versus a $56.28 close) at Credit Suisse.
Sociedad Química y Minera de Chile S.A. (NYSE: SQM) was reiterated as Buy and the price objective was raised to $49 (versus a $44.39 close) at Merrill Lynch. SQM was last seen down 2.7% at $43.20 after reporting earnings.
Vornado Realty Trust (NYSE: VNO) was raised to Buy from Hold with an $83 price target (versus a $74.06 close) at Argus.
Also be sure to see four top gold stock picks for the rest of the year, as well as four big oil picks to buy now.
Wednesday’s top analyst upgrades and downgrades included Chevron, Fiat Chrysler, Groupon, GrubHub, HP, IAMGOLD, JD.com, Salesforce.com and many more.
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