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Top Analyst Upgrades and Downgrades: AbbVie, Baker Hughes, CSX, Micron, Nucor, PepsiCo, Western Digital and More

Stocks were indicated to open higher on Monday after hitting all-time highs the prior week. The one trend that has been proven time after time in this eight-year bull market is that investors keep finding new reasons to buy stocks after every market sell-off. Those same investors are also on the hunt for new investing and trading ideas with their capital.

24/7 Wall St. reviews dozens of analyst research reports each day. Our goal is 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 stocks 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 Monday, October 2, 2017.

AbbVie Inc. (NYSE: ABBV) was raised to Outperform from Market Perform with a $106 price target (versus an $88.86 prior close) at Leerink Swann. AbbVie has a 52-week trading range of $55.06 to $90.95 and a consensus analyst target price of $86.82.

Baker Hughes, a GE Company (NYSE: BHGE) was downgraded to Neutral from Positive with a $38 price target at Susquehanna. Shares were down 1.1% at $36.62 on Friday and were indicated down about 1% more at $36.25 on Monday. Baker Hughes has a 52-week range of $32.43 to $68.59 and a consensus target price of $47.70.

CSX Corp. (NYSE: CSX) was downgraded to Underweight from Equal Weight at Morgan Stanley. CSX closed up 1% at $54.26 on Friday, and it has a 52-week range of $30.01 to $55.48 and a consensus target price of $57.42.

Micron Technology Inc. (NASDAQ: MU) was started with a Market Perform rating and assigned $43 price target (versus a $39.33 close) at BMO Capital Markets. Micron rocked higher last week after earnings and shares were indicated up 0.5% at $39.55 on Monday as well. It has a new 52-week range of $16.17 to $39.36 and a consensus target price of $48.98.

Nucor Corp. (NYSE: NUE) was downgraded to Neutral from Buy at Longbow Research. Nucor was up 1% at $56.04 on Friday but was indicated down 1.8% at $55.01 on Monday. Nucor has a 52-week range of $45.30 to $68.00 and a consensus target price of $64.42.

PepsiCo Inc. (NYSE: PEP) was downgraded to Hold from Buy at Jefferies. It was down 0.2% at $111.43 on Friday and was indicated down another 0.8% at $110.55 on Monday after the downgrade. Its consensus analyst target price is $124.29 and its 52-week range is $98.50 to $119.39.

Western Digital Corp. (NASDAQ: WDC) was downgraded to Neutral from Outperform at Robert W. Baird. The stock fell 0.36% to $86.40, and its shares were indicated to open down about 1.7% at $84.90 on Monday. The consensus target price is $117.84, and the 52-week range is $52.10 to $95.77.

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Other top analyst calls were seen as follows:

Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) was raised to Buy from Neutral at Goldman Sachs.

American International Group Inc. (NYSE: AIG) was maintained as Neutral but the target price was lowered to $63 from $64 at UBS.

Bluebird Bio Inc. (NASDAQ: BLUE) was downgraded to Underweight from Equal Weight at Morgan Stanley.

Citrix Systems Inc. (NASDAQ: CTXS) was raised to Outperform from Market Perform at Wells Fargo.

Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Underperform from Neutral at Robert W. Baird.

Finish Line Inc. (NASDAQ: FINL) was downgraded to Neutral from Positive at Susquehanna.

Generac Holdings Inc. (NYSE: GNRC) was raised to Overweight from Sector Weight with a $55 price target (versus a $45.93 close) at KeyBanc Capital Markets.

Great Plains Energy Inc. (NYSE: GXP) was raised to Outperform from Market Perform at Wells Fargo.

Myriad Genetics Inc. (NASDAQ: MYGN) was started as Market Perform with a $31 price target at Leerink Swann.

Regions Financial Corp. (NYSE: RF) was downgraded to Underperform from Neutral at Robert W. Baird.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was raised to Overweight from Equal Weight at Morgan Stanley.

Seagate Technology PLC (NASDAQ: STX) was raised to Buy from Hold at Craig-Hallum.

Senior Housing Properties Trust (NYSE: SNH) was maintained as Neutral but the price target was cut to $19 from $20 (versus a $19.55 close) at UBS.

Splunk Inc. (NASDAQ: SPLK) was downgraded to Equal Weight from Overweight at Morgan Stanley. Its shares were down almost 1% at $66.43 on Friday, in a 52-week range of $50.64 to $69.61.

Stanley Black & Decker Inc. (NYSE: SWK) was raised to Overweight from Equal Weight at Morgan Stanley.

Steel Dynamics Inc. (NASDAQ: STLD) was downgraded to Neutral from Buy at Longbow Research.

Tiffany & Co. (NYSE: TIF) was raised to Buy from Hold at HSBC.

Tractor Supply Co. (NASDAQ: TSCO) was downgraded to Neutral from Buy at UBS.

TrueCar Inc. (NASDAQ: TRUE) was raised to Equal Weight from Underweight at Morgan Stanley.

Union Pacific Corp. (NYSE: UNP) was downgraded to Equal Weight from Overweight at Morgan Stanley.

U.S. Bancorp (NYSE: USB) was downgraded to Underperform from Neutral at Merrill Lynch.

USG Corp. (NYSE: USG) was downgraded to Hold from Buy at SunTrust Robinson Humphrey.

Western Digital Corp. (NASDAQ: WDC) was downgraded to Neutral from Outperform at Robert W. Baird.

Zions Bancorp (NASDAQ: ZION) was downgraded to Underperform from Neutral at Robert W. Baird.

Friday’s top analyst calls included GoPro, KB Home, Rite Aid, Visa, Wynn Resorts and many more.

 

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