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Top Analyst Upgrades and Downgrades: AMD, Biogen, Capital One, Intuit, Jinko Solar, Micron, Albermarle, Alnylam and More
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Stocks were indicated to open marginally lower on Thursday. This is on the heels of Wednesday’s confirmation by Janet Yellen that the Federal Reserve would start selling down its $4.5 trillion balance sheet slowly over many years. Now S&P has downgraded China’s official credit rating, and that may weigh on the minds of emerging markets that are so heavily influenced by China. Investors need to keep in mind that the major stock indexes have all hit fresh all-time highs this week. They also should consider that the winning bull market theme has been that investors keep finding new reasons to buy stocks after every sell-off. Those same investors are looking 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. Others cover stocks to sell or to avoid.
Additional color and commentary has been added on some of the more pertinent and visible daily analyst calls. The 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, September 21, 2017.
Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Buy with a $19 price target (versus a $13.74 prior close) at Jefferies. AMD has had three reports supporting the Jefferies thesis that it can take market share in x86 MPUs and sees a tectonic shift taking place, all keeping AMD as a top pick of the firm. Its shares have a 52-week trading range of $6.22 to $15.65 and a consensus analyst price target of $14.23.
Biogen Inc. (NASDAQ: BIIB) has seen more positive research calls of late, but on Thursday it was downgraded to Market Perform from Strong Buy at Raymond James. Biogen closed at $319.00 and its shares have a 52-week range of $244.28 to $330 and a consensus target price of $333.02.
Capital One Financial Corp. (NYSE: COF) was started with an Underweight rating and assigned an $81 price target (versus an $81.80 close) at Piper Jaffray. Capital One has a 52-week range of $69.49 to $96.92 and a consensus price target of $93.84.
Intuit Inc. (NASDAQ: INTU) was started with an Outperform rating and assigned a $163 price target (versus a $144.97 close) at Wells Fargo. Intuit has a 52-week range of $103.22 to $146.04 and a consensus price target of $135.53.
Jinko Solar Holding Co., Ltd. (NYSE: JKS) was started with a Sell rating and assigned a $26 price target at Axiom Capital. Shares closed down 5.1% at $26.29 on Wednesday and were indicated to open down another 3% at $25.50 on Thursday. The 52-week range is $12.72 to $30.50, and the consensus target price was $18.60.
Micron Technology Inc. (NASDAQ: MU) was reiterated as Buy and the price target was raised to $46 from $40 (versus a $35.97 close) at Loop Capital. Micron has a 52-week range of $16.17 to $36.60 and a consensus price target of $44.46.
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Other key analyst upgrades and downgrades were seen in the following:
Albemarle Corp. (NYSE: ALB) was reiterated as Buy and the price target was raised to $156 from $144 (versus a $136.08 close) at Jefferies. The firm raised its 2018 to 2021 forecast on a higher lithium demand view.
Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) was up big on Wednesday, with its shares rocketing up over 51% to $113.84, and its new 52-week range is $31.38 to $116.93. Leerink maintained a Market Perform rating but raised its target to $112 from $72.
Brighthouse Financial Inc. (NYSE: BHF) was started with a Hold rating at Argus.
Catalent Inc. (NYSE: CTLT) was raised to Overweight from Equal Weight at Morgan Stanley.
Entergy Corp. (NYSE: ETR) was raised to Equal Weight from Underweight at Morgan Stanley.
Eversource Energy (NYSE: ES) was maintained as Buy with a $71 fair value estimate (versus a $61.48 close) at Janney.
EXACT Sciences Corp. (NASDAQ: EXAS) was reiterated as Outperform but the price target was raised to $50 from $45 (versus a $43.40 close) at Leerink.
GeoPark Ltd. (NYSE: GPRK) was started with a Buy rating and was assigned an $11.50 price target (versus an $8.29 close) at Canaccord Genuity. GeoPark is thinly traded and is an oil and gas exploration and production outfit with reserves in Chile, Colombia, Brazil, Peru and Argentina.
24/7 Wall St.Hanesbrands Inc. (NYSE: HBI) was downgraded to Neutral from Buy with a $26 price target (versus a $24.71 close) at Instinet (Nomura).
JAKKS Pacific Inc. (NASDAQ: JAKK) was up 11.5% at $3.15 on Wednesday but the company said it expects a loss in 2017 due to the Toys “R” Us bankruptcy. JAKKS was downgraded to Underperform from Neutral at D.A. Davidson, and it has a 52-week range of $2.68 to $9.15.
Magellan Midstream Partners L.P. (NYSE MMP) was raised to Buy from Neutral with an $82 price target (versus a $70.24 close) at Citigroup. It also has close to a 5% yield-equivalent from its distribution.
OceanFirst Financial Corp. (NASDAQ: OCFC) was started with a Buy rating and assigned a $31 target price (versus a $26.01 close) at D.A. Davidson.
Public Service Enterprise Group Inc. (NYSE: PEG) was raised to Overweight from Equal Weight at Morgan Stanley.
PRA Group Inc. (NASDAQ: PRAA), formerly Portfolio Recovery Associates, was downgraded to Underperform from Market Perform at Raymond James.
Public Service Enterprise Group Inc. (NYSE: PEG) was raised to Overweight from Equal Weight at Morgan Stanley.
Sealed Air Corp. (NYSE: SEE) was raised to Buy from Neutral with a $48 price objective (versus a $41.87 close) at Merrill Lynch.
Terex Corp. (NYSE: TEX) was downgraded to Hold from Buy with a $43 price target (versus a $43.81 close) at Deutsche Bank.
United Rentals Inc. (NYSE: URI) was reiterated as Buy with a $150 price target (versus a $130.74 close) at Jefferies.
USG Corp. (NYSE: USG) was downgraded to In-Line from Outperform with a $32 price target (versus a $31.26 close) at Evercore ISI.
Wednesday’s top analyst calls included Biogen, Electronic Arts, Gap, Intuit, Johnson & Johnson, 3M, AutoZone and many more.
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