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Top Analyst Upgrades and Downgrades: Amazon, Fortinet, Live Nation, Pandora, Sally Beauty, World Wrestling and More
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The futures traded lower this Friday morning as the markets digested the nonfarm payroll numbers for April. Despite a very strong first-quarter earnings season, and an economy that appears to be growing handily, the sellers continue to have the upper hand, as at one point Thursday the 200-day moving average was broken on the S&P 500. 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 day of the week to find new investing ideas and trading ideas 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 also has 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 Friday, May 4, 2018.
Amazon.com Inc. (NASDAQ: AMZN) was started with a Buy rating and a price target of $1,800 at Cascend Securities. The firm notes that developer demand for AWS products has run roughly two times that of Microsoft’s Azure and Google. The Wall Street consensus price target for the tech giant is posted at $1,820.20. The shares have traded in a 52-week range of $927 to $1,638. The stock closed Thursday at $1,572.07.
Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) was raised to Buy from Hold at SunTrust. The 52-week trading range is $10.78 to $16.13. The consensus price target is $16.26. The stock closed trading Thursday at $11.52, but shares were up almost 9% in premarket action after posting strong results after the close Thursday.
Fluor Corp. (NYSE: FLR) was downgraded to Neutral from Outperform at Baird. The 52-week trading range for the shares is $37.04 to $62.09. The consensus price target is set at $61.43. The shares closed Thursday at $58.99, so it’s a possible valuation call.
Fortinet Inc. (NASDAQ: FTNT) saw its price target raise to $60 from $46 at Stifel after the company posted results that beat Wall Street expectations. The Stifel target compares with the consensus price target of $53.70. The shares have traded in a 52-week range of $35.44 to $57.98. The stock closed Thursday at $56.11.
Live Nation Entertainment Inc. (NYSE: LYV) was raised to Outperform from In-line at Evercore ISI. The 52-week trading range for the live concert giant is $32.80 to $49.11. The consensus price target is posted at $48.89. The shares closed Thursday at $40.43 but were up sharply in premarket action on the back of better-than-expected earnings.
Pandora Media Inc. (NYSE: P) was raised to Buy from Neutral at B. Riley FBR, which also raised its price target to $8 from $6. That compares with the consensus price target of $6.37. The shares were raised to Buy from Hold at SunTrust as well. The 52-week trading range for the music streaming company is $4.09 to $10.83. The stock closed Thursday at $5.75, but traded up sharply in the premarket.
Sally Beauty Holdings Inc. (NYSE: SBH) was downgraded to Neutral from Outperform at Baird. The 52-week trading range is $14.05 to $21.36. The consensus price objective is $17.85, and the stock closed Thursday at $15.12, down almost 11% on the cay.
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Stamps.com Inc. (NASDAQ: STMP) saw its price target raised to $300 from $275 at B. Riley FBR after the company reported solid results on Thursday. The consensus target is posted at $249.83. The 52-week trading range is a whopping $100.55 to $237.00. The shares ended trading Thursday at $228.35 but traded up almost 5% in Friday’s premarket.
World Wrestling Inc. (NYSE: WWE) was downgraded to Hold from Buy at Benchmark. The 52-week trading range is $19.12 to $241.60, and the consensus price target is $39.82. The shares closed Thursday at $41.39, so this may be a valuation call.
Other key analysts upgrades and downgrades were seen in the following.
AerCap Holdings N.V. (NYSE: AER) saw it price target raised to $60 from $58 at Cowen. The company is the largest publicly traded lessor, and it continues to sell midlife aircraft, lowering the average age of the fleet. The consensus price target is $65.13. The 52-week trading range is $42.35 to $55.67, and the stock closed Thursday at $53.63.
BHP Billiton PLC (NYSE: BBL) was raised to Overweight from Equal Weight at Barclays. The 52-week range for the shares is $28.73 to $45.43, and the consensus price objective is $42.94. Shares closed right at that level Thursday at $42.71.
Blue Apron Holdings Inc. (NASDAQ: APRN) saw its price target lowered to $3.50 from $4.00 at Stifel. That compares with the consensus target of $4.92. The 52-week trading range is $1.72 to $11.00. The stock closed trading on Thursday at $2.30.
Century Aluminum Co. (NASDAQ: CENX) was downgraded to Neutral from Overweight at JPMorgan. The 52-week trading range for the shares is $12.53 to $24.77. The consensus price target is $24.40, and shares closed Thursday at $16.40.
Fairmount Santrol Inc. (NYSE: FMSA) saw its price target raised to $6.50 from $6.00 at Cowen. That compares with the Wall Street consensus target of $5.97. The 52-week trading range is $2.46 to $6.21. The stock closed Thursday at $5.55.
Hawaiian Holdings Inc. (NYSE: HA) was downgraded to Neutral from Buy at Buckingham Research. The 52-week trading range is $32.40 to $59.45, and the consensus price objective is $52.45. The stock closed Thursday at $38.25.
Newmark Group Inc. (NASDAQ: NMRK) was downgraded to Hold from Buy at Sandler O’Neill. The 52-week trading range is $13.72 to $16.98. The consensus price target is set at $19.36. The stock closed Thursday at $14.80
PennyMac Financial Services Inc. (NASDAQ: PFSI) was downgraded to Market Perform from Outperform at Wells Fargo. The 52-week trading range is $15.65 to $25.20. The consensus price target is $26.21. The shares ended trading Thursday at $20.85.
Terex Corp. (NYSE: TEX) was raised to Buy from Hold at Vertical Research. The stock has traded in a 52-week range of $31.25 to $50.17. The consensus price target is $45.12, and shares closed trading on Thursday at $38.07.
In case you missed it, also see Thursday’s top analyst upgrades and downgrades. They included Andeavor, Discovery, Estee Lauder, Esperion Therapeutics, Hologic, Nvidia, Yum Brands and more.
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