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Top Analyst Upgrades and Downgrades: Dolby Labs, Facebook, Freeport-McMoRan, Gilead, GrubHub, Skechers and More

Lee Jackson

Published: July 26, 2018 9:00 am

Last Updated: January 11, 2020 8:23 pm

The futures were trading higher Thursday morning on some positive trade news. However, most on Wall Street remain focused on the stream of second-quarter earnings results that continue to pour in. Of the over 100 companies in the S&P 500 that have already released results, 90% have reported earnings beats, which has most investors very positive. The trend of buying the dips has not worked as well as it has in prior years, and many investors have considered how they want their investments positioned for the longer term.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing 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, July 26, 2018.

Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) was raised to Buy from Hold at Maxim Group, which has a $187 price target on the shares. That compares with a consensus price target of $157.80. The stock closed trading on Wednesday at $145.30.

Dolby Laboratories Inc. (NYSE: DLB) saw its target price raised at B. Riley FBR to $69 from $61, though the firm maintains its Neutral rating on the shares. While the firm is increasingly optimistic of the company’s license revenue trends stemming from the mobile segment and Dolby Cinema expansion, it is looking for increasing evidence around Dolby Vision and the ability to dominate a space with a new entrant also looking to set the standard. The consensus price target is posted at $71, and the stock ended trading Wednesday at $64.55.

Euronet Worldwide Inc. (NASDAQ: EEFT) was resumed in coverage with an Outperform rating at Well Fargo. The 52-week trading range is $70.60 to $101.07. The consensus price target is set at $109.71, and the shares closed Wednesday at $94.40, up almost 13% on the day.

Facebook Inc. (NASDAQ: FB) saw its price target lowered to $205 from $242 at JPMorgan, and while the stock was removed from the firm’s Focus List, the analyst maintains its Overweight rating. The social media giant missed earnings badly on Wednesday and also suffered some big losses in user metrics. The shares closed trading on Wednesday at $217.50, but were crushed in premarket trading and may open down over 20%.

Freeport-McMoRan Inc. (NYSE: FCX) was raised to Hold from Sell at Deutsche Bank. The 52-week trading range for the commodities giant is $13.22 to $20.25, and the consensus price target is $19.46. The stock closed trading Wednesday at $15.86.

Gilead Sciences Inc. (NASDAQ: GILD) was downgraded to Neutral from Outperform at Baird. The 52-week trading range for the biotech giant is $64.27 to $89.54, and the consensus price target is $86.17. The stock closed Wednesday at $78.92.

GlaxoSmithKline PLC (NYSE: GSK) was raised to Buy from Hold at Shore Capital. Its 52-week trading range is $34.52 to $2.36. The consensus price target for the European pharmaceutical giant is $41.74, and the stock closed Wednesday at $40.52.

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GrubHub Inc. (NASDAQ: GRUB) saw its price target raised to $140 from $110 at Stifel. The analyst maintains its Hold rating for the time being while assessing whether the company’s growth trajectory and/or LevelUp deal support a meaningful 12-month return for investors after the stock’s 20% or so move on big earnings. The consensus price target is set at $119.68. The shares closed Wednesday at $134.72, up almost 24% on the day.

Skechers USA Inc. (NYSE: SKX) was downgraded to Hold from Buy at Argus. The stock has traded in a 52-week range of $23.80 to $43.08, and the consensus price target is set at $33. The stock closed Wednesday at $27.64.

Other key analysts upgrades and downgrades were seen in the following:

Cameco Corp. (NYSE: CCJ) was downgraded to Market Perform from Outperform at BMO Capital Markets. The 52-week trading range is $7.68 to $12.19, and the consensus price target is$10.86. The shares ended Wednesday at $10.92.

Cidara Therapeutics Inc. (NASDAQ: CDTX) was started with a Buy rating and an $8 price target at Citigroup. That compares with a stunning consensus price target of $13.06. The shares ended trading on Wednesday at $4.35.

e.l.f. Beauty Inc. (NYSE: ELF) was downgraded to Perform from Outperform at Oppenheimer. The 52-week trading range is $13.69 to $27.27, and the consensus price target for the cosmetics company is $19.73. The shares ended Wednesday at $14.08.

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First Financial Bancorp (NASDAQ: FFBC) was raised to Buy from Neutral at D.A. Davidson. The shares have traded between $22.80 and $33.70 over the past year. The consensus price target for the bank is $33.63, and the shares ended trading on Wednesday at $30.25.

Gladstone Commercial Corp. (NASDAQ: GOOD) was started with an Outperform rating and a $21.50 price target at Wedbush. That compares to a consensus target of $20.90. The shares ended trading on Wednesday at $19.65.

New Gold Inc. (NYSE: NGD) was downgraded to Sell from Buy at Canaccord Genuity. The 52-week trading range is $1.73 to $4.25, and the consensus price target is $4.01. The stock closed Wednesday at $1.81, but shares were trading down over 17% in Thursday’s premarket.

QEP Resources Inc. (NYSE: QEP) was downgraded to Hold from Buy at Tudor Pickering. The 52-week trading range is $7.07 to $13.77, and the consensus price target is $15.91. The stock ended trading on Wednesday at $11.92.

Watsco Inc. (NYSE: WSO) was downgraded to Neutral from Buy at Seaport Global Securities. The 52-week trading range for the shares is $141.61 to $192.95. The consensus price target is $184.40, and the stock ended trading on Wednesday at $170.01.

In case you missed it, Wednesday’s top analyst upgrades and downgrades included Broadcom, China Life, Crocs, Eli Lilly, Lockheed Martin, Philip Morris, Rio Tinto, Spotify and more.