Investing

Top Analyst Upgrades and Downgrades: AMD, Apple, Biogen, Capital One, Chipotle, GM, 3M and More

Jon C. Ogg

Published: October 25, 2017 9:10 am

Last Updated: March 20, 2020 11:23 am

Stocks have hit new high after new high, but Wednesday’s opening indication was looking marginally lower on all three major U.S. stock indexes. The trend that has prevailed for more than five years now is that investors keep finding new reasons to buy stocks after every major sell-off. Those same investors are also hunting for new investing and trading ideas to generate gains and income ahead.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to seek new investing and trading ideas for our readers. Some of these analyst reports cover stocks to buy, while other calls cover stocks to sell or to avoid.

Consensus analyst price target data and valuation metrics are from the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of these daily analyst calls.

These were the top analyst upgrades, downgrades and other research calls from Wednesday, October 25, 2017.

Advanced Micro Devices Inc. (NASDAQ: AMD) was last seen down 10% at $12.81 after earnings. Jefferies maintained its Buy rating and $19 target, noting that investors should buy weakness as the gross margins are improving outside of licensing. Credit Suisse maintained its Neutral rating on AMD due to a lack of quantitative evidence of new products driving significant leverage. The stock has a 52-week trading range of $6.22 to $15.65 and a consensus analyst price target of $14.23.

Apple Inc. (NASDAQ: AAPL) was started with a Buy rating and assigned a $193 price target (versus a $157.10 prior close) at HSBC. Apple is due to report earnings next week, and its shares have a 52-week range of $104.08 to $164.94 and a consensus price target of $174.39.

Biogen Inc. (NASDAQ: BIIB) was down almost 4% at $315.73 on Tuesday and was indicated up 0.5% at $317.25 on Wednesday after earnings. Biogen was raised to Outperform from Market Perform with a $381 price target (versus a $315.73 close) at BMO Capital Markets. Credit Suisse maintained its Neutral rating, noting that the Spinraza overreaction overshadowed stable MS trends and deal potential. RBC maintained its Sector Perform rating and lowered its target to $313 from $315.

Capital One Financial Corp. (NYSE: COF) was last seen up 2.7% at $92.00 after earnings. Capital One was raised to Neutral from Underperform with an $80 price target (versus an $89.52 close) at Wedbush Securities. The firm threw in the towel on its Sell-equivalent rating after earnings, despite credit metrics continuing to be cautious. Capital One has a 52-week range of $71.91 to $96.92 and a consensus price target of $94.33.

Chipotle Mexican Grill Inc. (NYSE: CMG) was maintained as Neutral with a $290 price target (versus a $324.30 close) at Wedbush, with the firm noting same-store sales growth in line with estimates but with lower than expected margins and lower 2018 earnings risks. Telsey Advisory cut its rating to Market Perform from Outperform with a $330 price target. Credit Suisse maintained its Neutral rating on Chipotle, but said that its results and outlook were disappointing for those looking for a more meaningful recovery following multiple food safety events. Stifel has a Hold rating but lowered its target to $310 from $345. Chipotle has a 52-week range of $295.11 to $499.00 and a consensus price target of $350.77.

General Motors C. (NYSE: GM) was downgraded to Equal Weight from Overweight with a $43 price target (versus a $46.48 close) at Morgan Stanley. GM closed up 2.9% at $46.48 on Tuesday and was indicated down 1.5% at $45.80 on Wednesday, and it has a 52-week range of $30.21 to $46.76. The consensus price target is $44.39.

3M Co. (NYSE: MMM) was up 5.9% at $234.65 on Tuesday after earnings. It was raised to Neutral from Sell with a $229 price target (versus a $234.65 close) at Goldman Sachs. Argus reiterated its Buy rating and raised its target to $260. Credit Suisse reiterated its Outperform rating and raised its target to $260 from $238. RBC Capital Markets maintained its Sector Perform rating and raised its 3M target to $209 from $205. Stifel maintained its Hold rating but raised the target to $244 from $220. The stock has a 52-week range of $163.85 to $238.90 and a consensus price target of $215.31.

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Other key analyst calls were seen as follows:

Adobe Systems Inc. (NASDAQ: ADBE) was reiterated as Buy and the price target was raised to $195 at Argus, following last week’s meeting that caused many price targets to be raised.

Commvault Systems Inc. (NASDAQ: CVLT) was maintained as Buy but the price target was cut to $66 from $75 (versus a $52.50 close) at Jefferies. The target was lowered after guidance was lowered. Mitsubishi UJ cut its rating to Neutral from Overweight with a $57 price target.

Eiger BioPharmaceuticals Inc. (NASDAQ: EIGR) was down 8.3% at $11.00 on Wednesday. It was reiterated as Outperform and with a $34 price target (versus an $11.00 close) at Wedbush after recent physicians saw presentation data this week.

Hercules Capital Inc. (NYSE: HTGC) was started as Neutral with a $13.25 price target (versus a $12.70 close) at Wedbush.

KB Home (NYSE: KBH) was started as Sell with a $25 target price (versus a $27.59 close) at UBS.

Las Vegas Sands Corp. (NYSE: LVS) was started with a Buy rating and assigned a $69 price target (versus a $63.15 close) at Roth Capital.

Lennar Corp. (NYSE: LEN) was started as Buy with a $77 target price (versus a $58.02 close) at UBS.

MDC Holdings Inc. (NYSE: MDC) was started as Sell with a $34 target price (versus a $36.65 close) at UBS.

MGM Resorts International (NYSE: MGM) was started with a Buy rating and assigned a $38 price target (versus a $31.22 close) at Roth Capital.

Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH) was started with a Buy rating and assigned a $68 price target (versus a $54.66 close) at Argus.

Public Service Enterprise Group Inc. (NYSE: PEG) was reiterated as Buy and the price target was raised to $56 from $51 (versus a $49.08 close) at Argus.

PulteGroup (NYSE: PHM) was raised to Neutral from Underperform with a $31 price target (versus a $28.68 close) at Mizuho. UBS started it with a Buy rating and gave a $38 price target.

Regal Entertainment Group (NYSE: RGC) was last seen trading up 3.3% at$16.90 after earnings. Regal has a 52-week range of $13.90 to $24.79 and a consensus target price of $19.00. Regal was reiterated as Outperform with a $20 price target (versus a $16.35 close) at Wedbush. Despite weak theater metrics, it beat earnings and is upgrading screens for higher growth and margins according to Wedbush.

Toll Brothers Inc. (NYSE: TOL) was started as Buy with a $50 target price (versus a $44.61 close) at UBS.

YPF S.A. (NYSE: YPF) was raised to Overweight from Neutral with a $29 price target (versus a $24.03 close) at JPMorgan. It has a 52-week range of $15.00 to $26.48 and a consensus target price of $27.78.

Tuesday’s top analyst upgrades and downgrades included Boston Scientific, Cleveland-Cliffs, General Electric, Hasbro, Illumina, T-Mobile, United Continental, Seagate Technology and many more.