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Top Analyst Upgrades and Downgrades: Allegiant Travel, Align Technology, Chipotle, Hess, Las Vegas Sands, Nasdaq, Superior Energy and More
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The futures traded modestly higher this morning as investors are hoping the market can make a move up after a rough week. Despite very solid earnings from most of the companies that have reported, higher interest rates have spooked many as the 10-year Treasury yield climbed over the 3% level for the first time since January of 2014.
Some investors have reconsidered what the nine-year bull market may bring in 2018 and beyond. It has become clear that the multiyear trend of buying pullbacks is now more vulnerable to sellers, volatility and each major news headline. Many investors are finding it harder to decide how they want their assets positioned for the longer term.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
Additional color and commentary has also been added on some of these 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, April 26, 2018.
Allegiant Travel Co. (NASDAQ: ALGT) was raised to Buy from Neutral at Buckingham Research. The Wall Street consensus price target for the stock is $172.92, and the 52-week trading range is $111.54 to $181.45. The stock closed trading on Wednesday at $143.30.
Align Technology Inc. (NASDAQ: ALGN) saw its target price raised to $320 from $295 at Stifel after the company posted strong quarterly results. The consensus price objective is $290.77, and the 52-week range is a stunning $119.16 to $287.32. The shares closed trading on Wednesday at $245.63 and traded up almost 7% in Thursday’s premarket.
Chipotle Mexican Grill Inc. (NASDAQ: CMG) was raised to Buy from Hold at Canaccord Genuity. The company posted solid first-quarter results this Thursday morning. The 52-week trading range of the stock is a wide $247.52 to $499. The Wall Street consensus price target is posted at $311.68. The shares closed Wednesday at $339.52 and traded up a massive 13% in the premarket on the earnings beat.
Hess Corp. (NYSE: HES) was downgraded to Hold from Buy at KLR Group. The 52-week trading range for the oil giant is $37.25 to $59.56. The consensus price target is posted at $55.86. With the shares closing Wednesday at $59.34, up almost 3%, this could be a valuation call.
Las Vegas Sands Inc. (NYSE: LVS) saw its target price raised to $78 from $76 at Telsey Advisory Group. That compares with the consensus price objective of $81.36. The analysts cited the strong quarter, which was led by solid results in Macau, as the Cotai properties had a good showing. The company also saw growth again at Marina Bay Sands, which continues to put up strong numbers, even in the face of difficult comparisons. The 52-week trading range is $56.33 to $79.84. The stock closed Wednesday at $81.36.
Nasdaq Inc. (NASDAQ: NDAQ) was raised to Neutral from Underperform at Merrill Lynch. The 52-week trading range is $65.98 to $87.97. The consensus price target is $89.71, and the stock closed Wednesday at $87.79.
Owens-Illinois Inc. (NYSE: OI) was raised to Buy from Hold at Deutsche Bank. The 52-week trading range is $19.45 to $25.90, and the consensus price target is set at $26.04. The shares closed trading on Wednesday at $20.80.
Superior Energy Inc. (NYSE: SPN) saw its price target raised at Cowen from $12 to $13. The company reiterated its goal to maximize free cash flow primarily from improved performance in the pressure pumping business to pay down debt. The 52-week trading range for the shares is $7.66 to $12.84. The consensus price target is set at $11.96. The stock closed trading on Wednesday at $10.30, up over 4% on the day.
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Other key analysts upgrades and downgrades were seen in the following.
CONMED Corp. (NASDAQ: CNMD) saw its price target raised to $73 from $71 at Needham. The Wall Street consensus price target is $62.50. The 52-week trading range for the shares is $43.88 to $64.99. The stock closed Wednesday at $63.11.
Covenant Transportation Group Inc. (NASDAQ: CVTI) was raised to Buy from Hold at Stifel, which also raised its price target to $35. That compares with the Wall Street consensus target of $35.75. The 52-week trading range is $15.86 to $33.36. The shares closed Wednesday at $28.46.
Dova Pharmaceuticals Inc. (NASDAQ: DOVA) was started with a Buy rating at Ladenburg Thalmann with a massive $65 price target, which compares to the Wall Street consensus target of $36. The 52-week trading range is $16.98 to $37. The stock closed Wednesday at $24.51 but traded up almost 5% in the premarket.
Echo Global Logistics Inc. (NASDAQ: ECHO) saw its price target raised to $35 from $34 at Cowen after the company posted strong quarterly results. The price target compares with the consensus target of $33. The 52-week trading range is $13 to $32.95. The stock closed trading on Wednesday at $27.90.
Federated Investors Inc. (NYSE: FII) was resumed with a Sell rating at Citigroup. The 52-week trading range for the investment giant is $25.24 to $36.76. The consensus price target is $33.13. The stock closed trading Wednesday at $31.
Flushing Financial Corp. (NASDAQ: FFIC) was raised to Buy for Hold at Gabelli. The 52-week trading range for the stock is $24.59 to $31.45, and the consensus price target is $31.00. The shares closed Wednesday at $26, down over 6% on the day.
Forward Air Corp. (NASDAQ: FWRD) was raised to Buy from Hold at Stifel. The 52-week trading range is $49.23 to $64.80. The consensus price target is set at $63. The shares closed trading on Wednesday at $52.71.
Merit Medical Systems Inc. (NASDAQ: MMSI) saw its target price raised to $54 from $53 at Needham. That compares with the consensus target of $53. The 52-week trading range is $31.10 to $49.50. The shares closed Wednesday at $45.05.
Pegasystems Inc. (NASDAQ: PEGA) was started with a Buy rating at D.A. Davison. The 52-week trading range is $45.25 to $64.85. The consensus price objective is set at $66.60. The shares closed Wednesday at $60.60.
RPC Inc. (NYSE: RES) saw its price target lowered to $17 from $19 at Cowen. The 52-week trading range is $16.60 to $27.07. The consensus price target is posted at $22.48. The shares ended trading on Wednesday at $17.93, down almost 5% on the day.
In case you missed it, here are Wednesday’s top analyst upgrades and downgrades. They included Biogen, Broadcom, Caterpillar, Cree, GrubHub, Intel, 3M, Metlife, Verizon and more.
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