Top Analyst Upgrades and Downgrades: Centene, Comcast, Concho Resources, PACCAR, STMicro, Tesla, United Natural Foods, VF and More

Investing

Published: October 24, 2018 9:10 am

Last Updated: January 11, 2020 3:56 pm

Dow Jones industrials futures rebounded Wednesday morning after investors suffered another big day of selling on Tuesday. Wall Street pundits cited everything from issues in Italy, to rising rates, to earnings, as many companies in the S&P 500 have slipped into bear market territory. The trend of buying the dips has not worked as well in 2018 as it has in prior years, and many investors have been considering 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 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 has also 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 Wednesday, October 24, 2018.

Centene Corp. (NYSE: CNC) was raised to Outperform from Market Perform at Leerink Partners. The 52-week trading range for the stock is $89.08 to $148.24. The Wall Street consensus price target is set at $159.68. The stock closed Tuesday at $134.37, down almost 5% on the day.

Comcast Corp. (NASDAQ: CMCSA) was resumed in coverage at Citigroup with a Buy rating and a $48 price target. That compares with the consensus price objective of $42.94. The communications and programming giant closed Tuesday at $35.65.

Concho Resources Inc. (NYSE: CXO) was resumed in coverage at Wells Fargo. The firm’s price target of $209 compares with the consensus target of $187. The stock ended trading Tuesday at $141.78.

PACCAR Inc. (NASDAQ: PCAR) was downgraded to Hold from Buy at Argus. The 52-week trading range is $54.76 to $79.69. The consensus price target is $790.21. The shares closed Tuesday at $57.40.

Parsley Energy Inc. (NYSE: PE) was resumed in coverage with an Outperform rating at Wells Fargo. The 52-week trading range is $21.12 to $33.43. The consensus price objective is $42.45. The stock closed trading on Tuesday at $26.27.

STMicroelectronics N.V. (NYSE: STM) saw its price target lowered to $20 from $28 at Craig Hallum. That compares with a consensus target of $26.53. The stock closed trading Tuesday at $15.88. Shares were trading down over 10% in premarket action.

Tesla In. (NASDAQ: TSLA) was started with a Market Outperform rating at JMP Securities. The electric car giant has traded in a wild 52-week range of $244.509 to $387.46. The consensus price target is $314.52. The stock ended trading Tuesday at $294.14, up almost 13% on the day.

Tilly’s Inc. (NYSE: TLYS) was started with a Buy rating and a $20 price target at Merrill Lynch. The consensus target is $23.33. The stock closed Tuesday at $16.99.

United Natural Foods Inc. (NASDAQ: UNFI) was downgraded to Neutral from Buy at Buckingham Research. The 52-week trading range is $24 to $52.69, and the consensus price objective is $35.36. Shares ended Tuesday at $24.18.

V.F. Corp. (NYSE: VF) was added to the Focus List at JPMorgan. The 52-week trading range is $68.35 to $97. The consensus price target is $98.52, and shares ended trading Tuesday at $77.71.

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

Arbor Realty Trust Inc. (NYSE: ABR) was downgraded to Underweight from Neutral at JPMorgan. The 52-week trading range is $7.89 to $12.35, and the consensus price objective is $11.55. The stock closed Tuesday at $11.76.

EOG Resources Inc. (NYSE: EOG) was resumed in coverage at Wells Fargo with a $154 price target. That compares with the consensus target of $144.86. The shares closed Tuesday at $144.86.

I3 Verticals Inc. (NASDAQ: IIIV) was started with a Buy rating and a $26 price target at D.A. Davidson. That compares with a consensus target of $22. The stock ended trading on Tuesday at $21.19.

Kite Realty Group Trust (NYSE: KRG) was downgraded to Neutral from Outperform at Baird. The 52-week trading range is $13.87 to $20.24, and the consensus price target is $18.70. The stock closed Tuesday at $15.46.

Ladder Capital Corp. (NYSE: LADR) was downgraded to Neutral from Overweight at JPMorgan. Its 52-week trading range is $13.23 to $17.71, and the consensus price target is $17.71. With shares closing Tuesday at $17.10, this could be a valuation call.

Pentair Inc. (NYSE: PNR) was raised to Buy from Hold at Stifel. The stock has traded between $36.06 and $50.26 over the past year. The consensus price target is set at $45.09. The stock ended Tuesday at $38.76.

Sally Beauty Inc. (NYSE: SBH) was downgraded to Underperform from Hold at Jefferies. The 52-week trading range for the company is $13.72 to $19.17. The consensus price target is posted at $15. The stock had a solid day on Tuesday, closing at $18.05, up over 3%.

Tuesday’s top analyst upgrades and downgrades included AMD, Amazon, Ciena, Dexcom, eBay, Home Depot, Lowe’s, Micron Technology, NXP Semiconductors, Seagate Technology and more.

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