Top Analyst Upgrades and Downgrades: Alcoa, Extreme Networks, Gilead, MGIC, Micron, Noble Energy, Twitter, US Steel, Wendy's and More

Investing

Published: December 20, 2017 9:05 am

Last Updated: March 20, 2020 11:30 am

Stocks keep hitting all-time highs, with over 70 trading days of new market highs so far this year alone. Despite a small “sell the news” sell-off on Tuesday, the Senate’s passage of tax reform had stocks indicated up yet again on Wednesday. The bull market is now nearing nine years old and investors have been rewarded for buying every market sell-off. Investors also are looking 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 find new investing and trading ideas for investors and traders alike. Some daily analyst reports and research reports cover stocks to buy. Others cover stocks to sell or to avoid.

Additional color and commentary has been added on most of these daily analyst calls. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Wednesday, December 20, 2017.

Acer Therapeutics Inc. (NASDAQ: ACER) was started with a Buy rating and assigned a $50 price target (versus a $12.00 prior close) at H.C. Wainwright. Acer Therapeutics has a 52-week trading range of $5.73 to $22.62, and its market cap is quite small at roughly $88 million.

Alcoa Corp. (NYSE: AA) was raised to Outperform from Neutral and the price target was raised to $61 from a prior price target of $42 (versus a $46.52 close) at Credit Suisse.

AK Steel Holding Corp. (NYSE: AKS) was raised to Buy from Neutral with a $7 price target (versus a $5.53 close) at Longbow Research.

Aramark (NYSE: ARMK) was started as Buy and assigned a $50 price target (versus a $42.90 close) at Stifel.

Biogen Inc. (NASDAQ: BIIB) was raised to Outperform from Neutral and the price target was raised to $385 from $321 at Credit Suisse.

Century Aluminum Co. (NASDAQ: CENX) was downgraded to Hold from Buy with a $14 price target (versus a $16.93 close) at Deutsche Bank.

Extreme Networks Inc. (NASDAQ: EXTR) was started with an Outperform rating and assigned a $16 price target (versus a $12.45 close) at Cowen.

Gilead Sciences Inc. (NASDAQ: GILD) was downgraded to Neutral from Outperform with an $80 price target (versus a $74.35 close) at Credit Suisse.

Hartford Financial Services (NYSE: HIG) was started as Neutral with a $59 price target (versus a $56.73 close) at Citigroup.

IBERIABANK Corp. (NASDAQ: IBKC) was downgraded to Outperform from Strong Buy at Raymond James.

Intercontinental Exchange Inc. (NYSE: ICE) was reiterated as Buy and the price target was raised to $80 from $72 (versus a $71.07 close) at Argus. The call is based on expectations for continued margin improvement.

Jack in the Box Inc. (NASDAQ: JACK) was maintained as Hold but the price target was cut to $100 from $120 (versus a $103.45 close) at Jefferies.

Lamar Advertising Co. (NASDAQ: LAMR) was downgraded to Sell from Neutral at Citigroup.

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MGIC Investment Corp. (NYSE: MTG) was started as Outperform with an $18 price target (versus a $14.71 close) at RBC Capital Markets.

MercadoLibre Inc. (NASDAQ: MELI) was downgraded to Sell from Neutral at Citigroup.

Micron Technology Inc. (NASDAQ: MU) was among the big premarket movers and up over 7% at $47.07 after beating earnings and raising guidance. Micron was reiterated as Buy and the price target was raised to $50 from $45 at Mizuho. Cowen reiterated its Outperform rating and raised its target to $53 from $50. Credit Suisse raised its target price to $60 from $50 with a reiterated Outperform rating.

Moleculin Biotech Inc. (NASDAQ: MBRX) was started with a Buy rating and assigned an $8 price target (more than 300% higher than the $1.69 prior closing price) at Roth Capital. The 52-week range is $0.71 to $3.60, and the market cap was just $35 million. Shares were indicated up 7% at $1.81 on Wednesday morning after the big upside call.

Moody’s Corp. (NYSE: MCO) was started as Hold at Stifel.

Noble Energy Inc. (NYSE: NBL) was raised to Buy from Hold with a $32 price target at Jefferies. Shares closed up 3.6% at $27.23 on Tuesday, in a 52-week range of $22.99 to $40.89. This call is actually almost $4 lower than the pre-call consensus analyst price target.

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Nucor Corp. (NYSE: NUE) was raised to Buy from Neutral with a $72 price target (versus a $62.43 close) at Longbow Research.

ProPetro Holding Corp. (NYSE: PUMP) was started with a Buy rating and assigned a $27 price target (versus a $19.36 close) at SunTrust Robinson Humphrey.

Radian Group Inc. (NYSE: RDN) was started with an Outperform rating and assigned a $26 price target (versus a $21.51 close) at RBC Capital Markets.

S&P Global Inc. (NYSE: SPGI) was started as Hold at Stifel.

Steel Dynamics Inc. (NASDAQ: STLD) was raised to Buy from Neutral with a $47 price target (versus a $41.40 close) at Longbow Research.

Trade Desk Inc. NASDAQ: TTD) was started as Outperform with a $60 price target (versus a $48.94 close) at Wells Fargo.

Twitter Inc. (NYSE: TWTR) was reiterated as Buy and the price target was raised to $30 from $25 (versus a $25.08 close) at Argus. The firm’s move to refine and clarify its policy on toxic content is expected to help return it to the beginnings and may even help in a stall in user engagement and advertising dollars.

United Continental Holdings Inc. (NYSE: UAL) was raised to Buy from Neutral at Buckingham Research.

United States Steel Corp, (NYSE: X) was raised to Buy from Neutral with a $43 price target (versus a $33.84 close) at Longbow Research.

Voyager Therapeutics Inc. (NASDAQ: VYGR) was started as Buy with a $32 price target (versus a $14.16 close) at BTIG.

Wendy’s Co. (NASDAQ: WEN) was up almost 4% at $16.40 on Tuesday and its shares were indicated up 2.4% at $16.80 on Wednesday morning. Wedbush Securities raised its rating to Outperform from Neutral and gave a $20 price target.

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Tuesday’s top analyst upgrades and downgrades included Altria, Apple, General Motors, Procter & Gamble, Walmart and many more.

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