Investing

Top Analyst Upgrades and Downgrades: ArcelorMittal, Barclays, Cree, Ctrip.com, Michael Kors, PVH, Skyworks, TripAdvisor, YRC Worldwide, Yelp and More

Jon C. Ogg

Published: November 9, 2018 9:15 am

Last Updated: January 11, 2020 3:09 pm

Stocks were indicated to open lower on Friday. While there has been a big bounce off last week’s lows, investors have seen lower upside after buying immediately after the big market pullbacks than in prior years. The investing community needs to consider how they want 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. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy, while some cover stocks to sell or 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 Friday, November 9, 2018.

Achaogen Inc. (NASDAQ: AKAO) was down 14% at $2.65 on Thursday and was indicated down another 4% on Friday. Mizuho downgraded it to Neutral from Buy, and Stifel downgraded it to Hold from Buy as well.

ArcelorMittal (NYSE: MT) was raised to Neutral from Sell at UBS. The stock was down almost 2.6% at $25.39 on Thursday and was indicated down another 0.5% on Friday. It has a consensus target price of $42.22.

Arris International Inc. (NASDAQ: ARRS) is being acquired, and so Goldman Sachs raised it to Neutral from Sell.

Copa Holdings S.A. (NYSE: CPA) was downgraded to In-Line from Outperform at Evercore ISI. Shares closed down 0.4% at $79.90 on Thursday, in a 52-week range of $67.38 to $141.34. The consensus target price is $107.01.

Barclays PLC (NYSE: BCS) was downgraded to Neutral from Outperform at Credit Suisse. The American depositary shares were indicated down 1.4% at $9.16 on Friday morning, in a 52-week range of $8.47 to $12.55 and with a consensus target price of $11.39.

Cree Inc. (NASDAQ: CREE) was raised to Buy from Neutral with a $58 price target (versus a $40.33 prior close) at Goldman Sachs. Shares were indicated up 5% at $42.35 after the call, and the consensus target price was $46.50.

Ctrip.com International, Ltd. (NASDAQ: CTRP) was downgraded to Neutral from Buy and the target price was cut to $36 from $49 at Nomura/Instinet. Shares were down 19% at $27.89 on Thursday, and they were indicated down almost 3% more Friday morning.

Himax Technologies Inc. (NASDAQ: HIMX) was downgraded to Neutral from Outperform at Credit Suisse. The stock was down 11% at $4.82 on Thursday, and its consensus target price was $7.00.

Keurig Dr Pepper Inc. (NYSE: KDP) was downgraded to Hold from Buy at Gabelli. Shares closed up 3% at $28.48 on Thursday, and the consensus target price is $27.31.

MasTec Inc. (NYSE: MTZ) was downgraded to Neutral from Outperform at Robert W. Baird. Shares closed up 3.5% at $50.67 on Thursday but were indicated down 2.5% on Friday. It has a 52-week range of $39.83 to $55.53, and the consensus target price is $61.92.

Michael Kors Holdings Ltd. (NYSE: KORS) was downgraded to Neutral from Outperform at Credit Suisse. Its shares were up 2.1% at $50.09 on Thursday, but the stock was indicated down about 2% Friday morning. Its consensus target price was $68.48.

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Party City Holdco Inc. (NYSE: PRTY) was raised to Overweight from Equal Weight and the target price was set at $16 (versus a $10.00 close) at Barclays. Its consensus target price was $16.17.

PVH Corp. (NYSE: PVH) was raised to Neutral from Sell but the price target was cut to $130 from $142 (versus a $126.28 close) at Goldman Sachs. The consensus target price is $168.47, and the 52-week range is $116.52 to $169.22.

Redfin Corp. (NASDAQ: RDFN) was downgraded to Market Perform from Outperform at William Blair. The stock was down 3.76% at $14.85 on Thursday and indicated down another 8.3% at $13.62 on Friday.

Sangamo Therapeutics Inc. (NASDAQ: SGMO) was downgraded to Neutral from Buy at Guggenheim. The stock closed down 4.7% at $13.72 on Thursday, and it has a 52-week range of $12.26 to $27.50 and a consensus target price of $26.43. Its shares were indicated down another 7.4% on Friday, after reporting a loss and lower-than-expected revenues.

Skyworks Solutions Inc. (NASDAQ: SWKS) was downgraded to Neutral from Buy at Merrill Lynch, and B. Riley FBR downgraded it to Neutral from Buy. Skyworks was up 0.9% at $83.40 on Thursday and was indicated down about 6.5% at $78.00 on Friday in reaction to its earnings.

Synaptics Inc. (NASDAQ: SYNA) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets. Shares were indicated higher on thin volume after beating earnings expectations.

TCF Financial Corp. (NYSE: TCF) was raised to Outperform from Market Perform with a $26 price target (versus a $22.06 close) at Keefe Bruyette & Woods.

TripAdvisor Inc. (NASDAQ: TRIP) was downgraded to Sell from Neutral but the price target was raised to $50 from $47 (versus a $66.93 close, after a 15.2% gain) at UBS. Wedbush maintained a Neutral rating with a $66 target. Shares were indicated down almost 3% on Friday.

YRC Worldwide Inc. (NASDAQ: YRCW) was downgraded to Hold from Buy with a $7 price target (versus a $6.92 close, after a 3.4% gain) at Stifel.

Yelp Inc. (NASDAQ: YELP) was down 3% at $43.50 on Thursday, but its shares were indicated down 30% on Friday morning after a revenue miss. JPMorgan downgraded Yelp to Neutral from Overweight with a $36 price target, Raymond James downgraded it to Market Perform from Outperform and Deutsche Bank cut its rating to Hold from Buy.

Thursday’s top analyst calls included ADM, Broadcom, CDK, Comcast, Ctrip, DaVita, Lowe’s, Monster Beverage, Nordstrom, Roku, Square and many more.