Top Analyst Upgrades and Downgrades: Alibaba, Amazon, Facebook, GE, 3M, Microsoft, Netflix, Snap, Square, Twitter and More

Investing

Published: October 12, 2018 8:56 am

Last Updated: January 11, 2020 4:30 pm

Stocks were indicated higher on Friday as overseas markets stabilized, but this is following sharp selling pressure this week in the major U.S. equity indexes. While the all-time highs are still within striking distance, investors have seen lower upside from buying immediately after the big market pullbacks in 2018 than in prior years. Now those investors also have to consider how to position their investments for the rest of the year and into 2019.

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 them cover stocks to sell or 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 Friday, October 12, 2018.

Alibaba Group Holding Ltd. (NYSE: BABA) was maintained as Buy but the price target was lowered to $200 from $220 at Stifel. The stock closed up 2.6% at $141.90 ahead of the call, and it has a 52-week trading range of $135.14 to $211.70 and has a consensus price target of $225.78.

Amazon.com Inc. (NASDAQ: AMZN) replaced Alibaba on the Stifel Select List. Shares of Amazon closed down 2% at $1,719.36 ahead of the call, and it has a 52-week range of $962.50 to $2,050.50 and a consensus price target of $2,164.21.

Anthem Inc. (NYSE: ANTM) was reiterated as Buy with a $316 price target at Jefferies, which also raised the price target to $295 from $265. Evercore ISI raised its price target $295 from $265.

Carbonite Inc. (NASDAQ: CARB) was started as Buy at Jefferies, and the firm assigned a $45 target price. Shares closed up 1% at $32.69 ahead of the call, in a 52-week range of $20.50 to $43.63. The consensus price target is $42.50.

Facebook Inc. (NASDAQ: FB) has seen more calls ahead of earnings season with some lowered expectations. Morgan Stanley lowered its price target to $175 from $185, and a firm called Pivotal Research lowered its price target to $131 from $140. Facebook closed up 1.3% at $153.35 a share ahead of the call. It has a 52-week range of $149.02 to $218.62 and a consensus price target of $208.86.

Fitbit Inc. (NYSE: FIT) was raised Outperform from Neutral with a$6.50 price target (versus $4.50 close) at Wedbush Securities. The move is as Fitbit expands into health care and med-tech verticals with a large share of both markets. The stock closed down 4.8% at $8.08 on Thursday, in a 52-week range of $4.93 to $9.75 and with a consensus target price of $7.28.

General Electric Co. (NYSE: GE) was started with a Neutral rating and assigned a $14 target price at Credit Suisse. GE closed down 4.2% at $12.72 ahead of the call. It has a 52-week range of $11.21 to $23.84 and a consensus price target of $16.45.

3M Co. (NYSE: MMM) was started as Outperform and assigned a $228 price target at Credit Suisse. It closed down 2.7% at $196.73 ahead of the call. The 52-week trading range is $190.57 to $259.77, and the consensus price target is $211.50.

ALSO READ: 10 Crucial Issues for Value Stock Investors in a Down Market

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Microsoft Corp. (NASDAQ: MSFT) was raised to Outperform and its price target was lifted up to $121 from $106 at Macquarie. Microsoft closed flat at $105.91 ahead of the call, in a 52-week range of $77.25 to $116.18 and with a consensus analyst target of $123.55.

Netflix Inc. (NASDAQ: NFLX) has seen several analyst calls ahead of next Tuesday’s earnings report. Citigroup raised its rating to Buy from Neutral, but Stifel lowered its price target to $395 from $405. Wedbush is still maintaining its Underperform rating and its rather low $125 price target despite expecting a modest subscriber and cash flow gains. Netflix closed down 1.5% at $321.10 ahead of the call. It has a consensus price target of $382.07 and 52-week trading range of $178.38 to $423.21.

ONEOK Inc. (NYSE: OKE) was downgraded to Equal Weight from Overweight and the price target was lowered to $70 from $73 at Barclays.

Rockwell Automation Inc. (NYSE: ROK) was started with an Underperform rating and assigned a $171 price target at Credit Suisse. It closed down 3.1% at $170.60 ahead of the call, in a 52-week range of $155.81 to $210.72. The consensus price target is $180.80.

Rowan Companies PLC (NYSE: RDC) was downgraded to Neutral from Overweight at JPMorgan, but the firm raised its price target to $19 from $16. The stock closed down 1% at $18.60, and shares were indicated down 2.8% at $18.07 on Friday.

Snap Inc. (NYSE: SNAP) was raised to Buy from Hold at Pivotal Research, but the firm lowered its target price to $8 from $9. Shares closed up 3.3% at $6.81 ahead of the call, in a 52-week range of $6.46 to $21.22 and with a consensus price target of $10.92.

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Despite Huge Sell-Off, New Communications Services Sector Is Hot: 5 Stocks to Grab Now

Square Inc. (NYSE: SQ) was upgraded to Buy from Hold and the price target was raised to $90 from $60 at Canaccord Genuity. The stock closed down 10.9% at $69.03 ahead of the call. The 52-week range is $31.44 to $101.15. The consensus price target is $81.33.

Twitter Inc. (NYSE: TWTR) was raised to Hold from Sell but the price target was lowered to $24 from $26 at Pivotal Research. Twitter closed up 0.8% at $27.00 on Thursday. The 52-week range is $17.03 to $47.79 and the consensus price target is $33.41.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) saw several target prices changed after earnings. Barclays raised its target to $80 from $77, Jefferies raised its target to $73 from $65 and SunTrust Robinson Humphrey raised its target to $75 from $66. Ahead of the call, Walgreens closed down 2.0% at $70.90, in a 52-week range of $59.07 to $80.68. The consensus price target is $74.26.

Despite a recent sell-off, five stocks that moved over into the communications services sector still are considered to have hot upside.

Five stocks with upside worth a look for investors who fear a market meltdown.

Also, check out the 10 crucial lessons for value investors picking shares in a down market.

Thursday’s top analyst calls were in Abercrombie & Fitch, CME, Costco, DowDuPont, Gap, HCA, Herbalife, Merck, PayPal, Urban Outfitters and many more.

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