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Top Analyst Upgrades and Downgrades: AMD, Apache, Gold Fields, Marvell, Micron, Oracle, Starbucks, Transocean, United Rentals, Walmart and More
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Stocks were indicated to open higher on Tuesday. U.S. equity indexes remain very close to their all-time highs, while most international markets are not close to their highs. One issue that has to be considered is that investors have seen less upside from buying on market pullbacks than in prior years. Investors also need to consider how they want to have their investments positioned for the rest of 2018.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy, but some of the analyst reports cover stocks to sell or stocks to avoid.
Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, September 18, 2018.
Advanced Micro Devices Inc. (NASDAQ: AMD) saw its price target raised to $36 from $20 at Mizuho. AMD closed Monday at $32.43 and it has a 52-week trading range of $9.04 to $34.14 and a consensus price target of $19.64.
Akcea Therapeutics Inc. (NASDAQ: AKCA) was started as Buy and assigned a $45 price target at Needham. It closed up almost 3% at $24.85 on Monday and was indicated up another 4% at $25.85 on Tuesday. Its 52-week range is $15.20 to $40.75.
Apache Corp. (NYSE: APA) was started as Overweight and assigned a $52 price target at Stephens. Apache closed Monday at $45.78, and it has a 52-week range of $33.60 to $49.59 and a consensus price target of $49.02.
BankUnited Inc. (NYSE: BKU) was downgraded by Morgan Stanley to Equal Weight from Overweight. BankUnited closed Monday at $37.23, and it has a 52-week range of $32.34 to $44.97 and a consensus price target of $45.96.
Colgate-Palmolive Co. (NYSE: CL) was reiterated as Buy and the price target was raised to $75 from $72 at Argus. The stock closed Monday at $68.81, and it has a 52-week range of $61.28 to $77.91 and a consensus price target of $69.11.
Discovery Inc. (NASDAQ: ISCA) was downgraded to Sell from Hold and the price target was maintained at $26 at Pivotal Research. Shares closed Monday at $32.02, and they have a 52-week range of $15.99 to $32.65. The consensus price target is $29.00.
Express Scripts Holding Co. (NASDAQ: ESRX) was downgraded to Neutral from Outperform but the price target was raised to $96 from $90 at Credit Suisse. Express Scripts closed Monday at $95.23, and it has a 52-week range of $55.80 to $96.45 and a consensus price target of $86.35.
FedEx Corp. (NYSE: FDX) was up only 0.1% at $255.73 ahead of earnings and was last seen trading down 2.4% at $249.50 after the report. Morgan Stanley maintained it as Equal Weight and cut the target price to $242 from $245. The 52-week trading range is $214.17 to $274.66.
Gold Fields Ltd. (NYSE: GFI) was raised to Outperform from Sector Perform at RBC Capital Markets, and its implied upside in South African rand went from 25% to 45% after converting from Monday’s closing prices. Gold Fields closed up 0.4% at $2.37 on Monday, in a 52-week range of $2.20 to $4.54 and with a consensus target price of $4.05.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was started with a Buy rating and assigned a price target of $23 at Goldman Sachs. The stock closed Monday down 2.8% at $18.44, and it has a 52-week range of $17.49 to $25.18 and a consensus analyst price target of $27.45. Marvell was indicated up 1.4% at $18.70 on Tuesday.
Micron Technology Inc. (NASDAQ: MU) was reiterated as Overweight and with an $84 price target at JPMorgan, with the firm noting that recent concerns about pricing, supply and demand pressures in late 2018 into 2019 are overblown. On the other side of the coin, Cowen called its earnings sentiment dreadful and lowered its target price to $62 from $72, even though it thinks lower guidance should already be priced into the shares. The stock closed Monday at $43.58, and it has a 52-week range of $34.09 to $64.66 and a consensus price target of $83.60.
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Mimecast Ltd. (NASDAQ: MIME) was started as Buy and assigned a $54 price target (versus a $40.13 prior close) at SunTrust Robinson Humphrey.
Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Buy and the target price was raised to $66 from $65 at Stifel. Shares closed Monday at $59.72. The 52-week range is $47.61 to $70.22, and the consensus price target is $65.25.
Nvidia Corp. (NASDAQ: NVDA) saw its price target hiked to $295 from $280 at Mizuho. Shares closed Monday at $273.93, and the 52-week range is $170.16 to $285.22. The consensus analyst target is $297.03.
Oracle Corp. (NYSE: ORCL) was down seven cents at $49.18 ahead of earnings and was indicated down 4% at $47.20 afterward despite a larger stock buyback. Citigroup maintained a Neutral rating and lowered its target to $49 from $51, and Wedbush maintained its Neutral rating and $49 price target. Nomura/Instinet maintained it as Buy but cut the target to $58 from $59. Wells Fargo maintained its Outperform rating and cut its target to $60.00 from $62.50, and Stifel maintained its Hold rating but cut its target to $49 from $50.
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) was downgraded to Neutral from Buy and the target price was cut to $11 from $14 at Nomura/Instinet. Citigroup maintained it as Neutral but cut its target to $10.50 from $11.50. The stock closed Monday at $9.58, in a 52-week range of $9.41 to $11.69, and it has a consensus price target of $13.54.
Smartsheet Inc. (NYSE: SMAR) was reiterated as Overweight and the target price was raised to $36 from $34 (versus a $29.05 close, after almost a 2.8% drop) at Morgan Stanley.
Starbucks Corp. (NASDAQ: SBUX) was reiterated as Neutral with a $53 price target (versus a $54.57 close) at Wedbush. The firm noted that its checks are pointing to same-store sales growth in the fourth quarter in the 2% to 3% range and that 3% growth in the United States is possible but that consistent execution is needed. Starbucks closed down 0.3% on Monday at $54.57. It has a 52-week range of $47.37 to $61.94 and a consensus price target of $57.88.
Supernus Pharmaceuticals Inc. (NASDAQ: SUPN) was started with a Buy rating and assigned a $61 price target (versus a $46.00 close) at Mizuho.
Tableau Software Inc. (NYSE: DATA) was reiterated as Buy and the price target was raised to $140 from $125 at Citigroup. The stock closed Monday at $110.86, in a 52-week range of $68.37 to $118.08. The consensus price target is $112.37.
Targa Resources (NYSE: TRGP) was raised to Outperform from Market Perform and its price target was raised to $63 from $55 (versus a $54.66 close) at Wells Fargo.
Transocean Ltd. (NYSE: RIG) was started with a Buy rating and assigned an $18 price target at BTIG. It closed Monday at $11.59, and it has a 52-week range of $8.70 to $14.34. The consensus price target is $12.61.
Union Pacific Corp. (NYSE: UNP) was raised to Buy from Hold at Loop Capital. Shares were indicated up 4% at $163.22, and the consensus target price is $155.80.
United Continental Holdings Inc. (NYSE: UAL) was downgraded to Neutral from Outperform at Macquarie. It closed Monday at $90.16 and has a 52-week range of $56.51 to $91.39 and a consensus price target of $92.46.
United Rentals Inc. (NYSE: URI) was reiterated as Buy and the target price was raised to $190 from $180 at Buckingham. The stock closed down 2.37% on Monday at $164.94. The 52-week range is $128.12 to $190.74 and the consensus price target is $186.08.
Walmart Inc. (NYSE: WMT) was started as Outperform and assigned a $110 price target at BMO Capital Markets. Walmart closed Monday at $94.82. It has a 52-week range of $77.50 to $109.98 and a consensus price target of $104.00.
Monday’s top analyst upgrades and downgrades were in American Express, Bed Bath & Beyond, Costco, Kraft Heinz, Micron, Twitter, UnitedHealth, Vale, Visa and many more.
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