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Top Analyst Upgrades and Downgrades: Arena Pharma, Autodesk, Coca-Cola, GE, Marvell, Monster Beverages, Nabors, Procter & Gamble and More

Lee Jackson

Published: December 13, 2018 9:15 am

Last Updated: January 11, 2020 1:46 pm

The futures traded slightly higher Thursday morning as the markets digested yesterday’s upside move. Positive talk on trade and some more benign inflation data were seen as the key reasons for the rally. Unfortunately, investors have to keep in mind that there has been less upside from buying immediately after the big market sell-offs than in prior years. Now investors have to consider how they want their investments and assets positioned for 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 of these analyst reports cover stocks to buy, while others 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 Thursday, December 13, 2018.

Arena Pharmaceutical Inc. (NASDAQ: ARNA) was started with Buy rating at Berenberg with a $55 price target, and that compares with a Wall Street consensus target of $62.78. The shares closed Wednesday at $42.67.

Autodesk Inc. (NASDAQ: ADSK) was downgraded to Neutral from Overweight at JPMorgan. The shares have traded between $101.55 and $159.54. The consensus price target is $166.36. The stock closed Wednesday at $137.79.

General Electric Co. (NYSE: GE) was raised to Neutral from Underweight at JPMorgan with a $6 price target. The venerable industrial has been pounded this year, and the change is a boost for the company as the analyst has been a long-time bear on the shares. The stock has traded between $6.66 and $19.39 over the past year. The consensus price target is $12.83. The stock closed Wednesday at $6.71, but shares are up almost 12% premarket on the upgrade.

Intuit Inc. (NASDAQ: INTU) was downgraded to Underweight from Neutral at JPMorgan. The 52-week trading range is $150.43 to $231.84, and the consensus price target is leveled at $226.33. The stock closed Wednesday at $209.18, but shares are down 2% premarket.

Marvell Ltd. (NASDAQ: MRVL) was raised to Buy from Neutral at Citigroup. The 52-week trading range for the stock is $14.69 to $25.18, and the consensus price target is $23.72. The stock closed Wednesday at $145.35, but shares are up almost 3.5% premarket.

Monster Beverage Corp. (NASDAQ: MNST) was started with a Sell rating at UBS, which has a $48 price target. That figure compares with a consensus price target of $62.71. The shares closed trading on Wednesday at $57.44.

Nabors Industries Ltd. (NYSE: NBR) was downgraded to Market Perform from Outperform at Raymond James. The 52-week trading range is $2.75 to $8.87. The consensus price target is still a massive $8.24. Shares closed Wednesday at $2.85 and were down slightly in the premarket.

Nektar Therapeutics Inc. (NASDAQ: NKTR) was started with a Buy rating at Goldman Sachs, which has a price target of $62. That is in comparison to a massive consensus target of $81. The stock closed up smartly on Wednesday at $36.97, and shares were up over 4% in premarket action.

Procter & Gamble Co. (NYSE: PG) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range for the consumer good giant is $70.73 to $94.86. The consensus price target is $89.47. The shares closed Wednesday at $94.03.

Coca-Cola Co. NYSE: KO) was resumed in coverage with a Neutral rating at UBS, which has a $51 price target. The consensus target for the beverage giant is $51.72. The stock closed Wednesday at $49.22.

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

Cognex Corp. (NASDAQ: CGNX) saw its target price raised to $47 from $45 at Needham after the firm met with analysts yesterday. The firm kept its Buy rating on the stock, which has traded between $36.16 and $70 over the past year, and the consensus price objective is $49.38. The shares ended trading on Wednesday at $41.85.

DocuSign Inc. (NASDAQ: DOCU) was started with a Neutral rating and a $45 price objective at Goldman Sachs. The consensus price target is $59. The stock closed trading on Wednesday at $42.40, and despite the tepid initiation, shares were higher in premarket trading.

Five Below Inc. (NASDAQ: FIVE) was raised to Buy from Neutral at Goldman Sachs. The stock has traded between $60 and $136.16 over the past year. The consensus price target is $127.65. The shares ended trading on Wednesday at $101.40 but were up on the news in the premarket.

GCP Applied Technologies Inc. (NYSE: GCP) was resumed in coverage with a Neutral rating at C.L. King. The 52-week trading range is $23.85 to $34.79. The consensus price target is $29.50. The stock closed Wednesday at $25.43.

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Molson Coors Brewing Co. (NYSE: TAP) was started with a Buy rating at UBS, which has an $80 price target on the beer giant. That compares with a consensus price target of $72.88. The stock ended trading on Wednesday at $63.07.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) was started with a Buy rating at Goldman Sachs, which has a $103 price objective. That compares with a consensus target of $113.93. The stock ended up on Wednesday at $73.83, down a whopping 14% after posting some disappointing clinical data.

Sabre Corp. (NASDAQ: SABR) was downgraded to Hold from Buy at Deutsche Bank. Shares have traded in a 52-week range of $17.91 to $26.78, and the consensus price objective is $28.00. The stock ended trading on Wednesday at $24.99.

Medicines Co. Inc. (NASDAQ: MDCO) was started with a Neutral rating and a $25 price target at Goldman Sachs. The consensus target is $48.60, and shares closed Wednesday at $28.21.

In case you missed it, Wednesday’s top analyst upgrades and downgrades included American Tower, American Waterworks, Bank of America, eBay, FedEx, Lululemon Athletica, Morgan Stanley, Vale, Verizon and more.