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Top Analyst Upgrades and Downgrades: Andeavor, Cimarex Energy, Groupon, Macy's, Marathon Petroleum, Match Group, Republic Services and More
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The futures traded slightly higher Thursday morning as investors looked to digest a big move in the markets over the past five days. While the Iran situation has been somewhat tempered by the beginnings of new relations in North Korea, an element of tension still exists and the volatility index (VIX) is rising.
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 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 calls cover stocks to sell or to avoid.
Additional color and commentary have 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, May 10, 2018.
Altice USA Inc. (NYSE: ATUS) was added to the Focus List at JPMorgan. The 52-week trading range for shares of the broadband communications and video services company is $16.25 to $35.29. The Wall Street consensus price target is posted at $27.23. The stock closed Wednesday at $16.79.
Andeavor (NYSE: ANDV) was downgraded to Neutral from Buy at Citigroup. The 52-week trading range is $80.46 to $144.08. The consensus price target is $138.61. The company is being bought by Marathon Petroleum and is trading within striking distance of the purchase price. The shares closed Wednesday at $140.28
Cimarex Energy Co. (NYSE: XEC) was downgraded to Neutral from Buy at Merrill Lynch. The 52-week trading range for the oil exploration and production company is $87.98 to $130.13. The consensus price target across Wall Street is $134.42. The stock closed trading on Wednesday at $97.73.
Coherent Inc. (NASDAQ: COHR) had coverage resumed at Stifel, which has a $248 price objective. That is in comparison to the consensus target of $256.38. The Stifel analysts feel that the long-term, secular story of increasing mobile adoption of flexible OLED displays remains firmly intact and it is more a question of the timing versus any structural breakdown in the story. The 52-week trading range is $157.47 to $329. Shares closed Wednesday at $175.45.
Groupon Inc. (NASDAQ: GRPN) was raised to Neutral from Sell at UBS. The 52-week trading range is $2.90 to $5.99, and the consensus price target is $5.32. The stock closed Wednesday at $4.88.
IPG Photonics Corp. (NASDAQ: IPGP) had coverage resumed at Stifel with a Buy rating and a price target of $282. The analysts feel the company will maintain a leadership position and continue to expand into other markets, as well as accelerating long-term growth prospects. The Stifel target compares with the consensus estimate of $262.86. The 52-week range is $133.86 to $264.11, and the stock ended trading on Wednesday at $244.50.
Macy’s Inc. (NYSE: M) was downgraded to Underweight from Equal Weight with a $25 price target at Morgan Stanley. The consensus price target is $29.71 for the venerable retailer. The 52-week trading range is $17.41 to $32.45, and shares closed on Wednesday at $30.14.
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Match Group Inc. (NASDAQ: MTCH) was raised to Buy from Neutral at UBS. The 52-week trading range for the highly successful dating sites company is $16.57 to $48.75. The consensus price objective is $42. The stock closed Wednesday at $36.85.
Marathon Petroleum Corp. (NYSE: MPC) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range for the refining giant is $49.40 to $83.27, and the consensus price target is $86.56. The company is in the process of acquiring Andeavor, which will make it the largest U.S. refiner. The consensus price target is $86.56. Shares closed Wednesday at $77.11.
Republic Services Inc. (NYSE: RSG) was raised to Buy from Hold at Argus. The 52-week range for the giant waste management company is $64.13 to $69.03. The consensus price target is set at $71.13, and the stock closed Wednesday at $67.63.
Other key analysts upgrades and downgrades were seen in the following.
CVR Refining L.P. (NYSE: CVRR) was raised to Buy from Neutral at Citigroup. The 52-week trading range is $6.60 to $19.45. The consensus price objective is set at $16.75, and shares closed Wednesday at $18.95.
Cott Corp. (NYSE: COT) was raised to Buy from Hold at Jefferies. The 52-week range for the shares is $12.31 to $17.77, and the consensus price target is $17.95. The stock closed Wednesday at $15.78 a share.
Dynavax Technologies Corp. (NASDAQ: DVAX) was raised to Overweight from Neutral at JPMorgan. The 52-week trading range is $5.35 to $24.45. The consensus price objective is $28.83. The stock closed Wednesday at $16.05 but was up over 7% in Thursday’s premarket action.
nVent Electric PLC (NYSE: NVT) was started with an Outperform rating with a $29 price target at RBC Capital Markets. The consensus price target was not available as this was a recent IPO. The stock has traded in a range from $21.00 to $27.00 since the deal priced. The shares closed Wednesday at $24.48.
New Gold Inc. (NYSE: NGD) was raised to Sector Outperform from Sector Perform at Scotia. The 52-week trading range is $2.22 to $4.25, and the consensus price target is posted at $4.01. The shares closed Wednesday at $2.46.
REV Group Inc. (NYSE: REVG) was started with a Neutral rating at Longbow. The 52-week trading range is $16.79 to $33.15. The consensus price target is $29.78. The stock ended the trading day Wednesday at $17.85.
Tapestry Inc. (NYSE: TPR) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range is $38.70 to $55.50. The consensus price target is $56.20, and the stock ended trading on Wednesday at $45.40.
Middleby Corp. (NASDAQ: MIDD) was downgraded to Neutral from Outperform at Baird. The 52-week trading range is $100.32 to $138.89, and the consensus price target is $139.25. The stock traded down a massive 17.5% on Wednesday to close at $108.56, after posting earnings results that missed Wall Street estimates.
In case you missed it, Wednesday’s top analyst upgrades and downgrades included Broadcom, Check Point Software, Cleveland Cliffs, Crocs, Papa Johns, Trimble, Twilio and more.
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