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Top Analyst Upgrades and Downgrades: GoPro, KB Home, Rite Aid, Visa, Wynn Resorts and Many More
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Stocks were looking for direction on Friday, with mixed indications in the Dow, S&P and Nasdaq. The major indexes remain very close to their all-time highs and all are up double-digit percentages so far in 2017. Investors know that the one trend that has dominated this more than eight-year bull market is that investors keep finding new reasons to buy stocks after every market sell-off. Those same investors are also looking for new investing ideas and trading to generate gains and income.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing ideas and trading for our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls cover stocks to sell or to avoid.
Additional color and commentary has been added on many of these daily analyst calls. The consensus analyst price target data and valuation metrics are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Friday, September 29, 2017.
GoPro Inc. (NASDAQ: GPRO) was down 1.8% at $11.48 on Thursday and was down over 1% more at $11.35 in early Friday trading indications in reaction to its new devices being released. GoPro was maintained as Neutral with a $10 price target (versus an $11.48 prior close) at Wedbush Securities. The firm noted after the new Hero6 debut that GoPro’s new slate of products look compelling for enthusiasts, but at price points out of range for the average consumer. Oppenheimer maintained its Perform rating but raised some sales expectations based on better software.
KB Home (NYSE: KBH) was up 2.8% at $22.22 on Thursday and was indicated up 4.5% at $23.22 on Friday. KB Home was raised to Neutral from Underperform with a $21 price target at Mizuho. Wedbush maintained its Outperform rating and $26 price target, noting that the impact from hurricanes Irma and Harvey appears to be relatively small short term but may have an inflationary impact on input costs (labor and materials) longer term. Credit Suisse maintained a Neutral rating but raised its target on KB Home to $25 from $24.
Rite Aid Corp. (NYSE: RAD) closed down 11% at $2.03 on Thursday, a day after earnings showed disappointment may continue and that its former recovery highs may be history. Loop Capital maintained a Hold rating but cut its target to $2.00 from $2.50 based on its contracted plans. Rite Aid has a 52-week range of $2.01 to $8.77.
Visa Inc. (NYSE: V) was started with an Overweight rating and assigned a $120 price target (versus a $103.89 close) at Cantor Fitzgerald. Visa has a 52-week range of $75.17 to $106.84 and a consensus target price of $111.85.
Wynn Resorts Ltd. (NASDAQ: WYNN) was reiterated as Buy and the price target was raised to $174 from $149 (versus a $144.38 close) at UBS. Shares were indicated up almost 1% at $145.50, with a consensus target price of $143.38 and in a 52-week range of $82.51 to $147.90.
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Other key analyst calls were seen in the following:
Abiomed Inc. (NASDAQ: ABMD) was started with a Buy rating and assigned a $195 price target at SunTrust Robinson Humphrey. Jefferies reiterated its Buy rating on Abiomed and raised its target to $208 from $175, talking up its opportunities.
Albemarle Corp. (NYSE: ALB) was started with a Buy rating and assigned a $150 price target (versus a $132.32 close) at Loop Capital.
BRT Apartments Corp. (NYSE: BRT) was started with a Neutral rating and assigned a $10.50 fair value target (versus a $10.36 close) at Janney.
Centene Corp. (NYSE: CTC) was reiterated as Outperform and the price target was raised to $105 from $95 at Oppenheimer.
Conn’s Inc. (NASDAQ: CONN) was raised to Outperform from Perform with a $40 price target (versus a $25.65 close) at Oppenheimer. The firm noted that credit fixes are giving way to a substantial earnings recovery. Conn’s was indicated up almost 15% at $29.44 on Friday.
DCT Industrial Trust Inc. (NYSE: DCT) was started as Neutral and assigned a $59 fair value target at Janney.
First Industrial Realty Trust Inc. (NYSE: FR) was started with a Buy rating and assigned a $34 fair value target at Janney.
FMC Corp. (NYSE: FMC) was started with a Buy rating and assigned a $102 price target at Loop Capital.
Goldcorp Inc. (NYSE: GG) was raised to Buy from Hold at Canaccord Genuity.
Government Properties Income Trust (NYSE: GOV) was started with a Neutral rating and was given a $20 price target at D.A. Davidson.
Heartland Express Inc. (NASDAQ: HTLD) was raised to Buy from Hold with a $29 price target (versus a $23.30 close) at Stifel.
IAMGOLD Corp. (NYSE: IAG) was downgraded to Hold from Buy at Canaccord Genuity.
Ingevity Corp. (NYSE: NGVT) was started as Buy and assigned a $73 price target at Loop Capital.
J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) was raised to Buy from Hold with a $125 price target (versus a $108.90 close) at Stifel.
Mastercard Inc. (NYSE: MA) was started as Overweight with a $165 price target (versus $139.67 close) at Cantor Fitzgerald.
Trinity Industries Inc. (NYSE: TRN) was raised to Buy from Neutral with a $36 price target (versus a $31.18 close) at Citigroup. While this has been considered a boring value stock for some time, this upgrade was actually the day after Trinity hit a 52-week high of $31.32 and shares were indicated up 1.4% at $31.63 on Friday.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) was up 52% at $9.44 on Thursday after positive study results in patients with a rare developmental disorder called fragile X syndrome. Zynerba was raised to Overweight from Neutral at Piper Jaffray. Oppenheimer maintained a Perform rating, noting that its FXS study results were informative but also noted that the program is not without risks.
Thursday’s top analyst calls included ADM, BlackRock, DexCom, Mallinckrodt, McDonald’s, Philip Morris, Redfin and about two dozen more.
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