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Top Analyst Upgrades and Downgrades: Adobe, Amazon, AT&T, BWX Technologies, Lam Research, Oracle, Schlumberger, Ulta Beauty and More
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The futures traded higher on this Friday morning as a busy week on Wall Street came to a close. The biggest news of the week was President Trump grounding the 737 MAX aircraft, which could put a crimp in travel plans across the nation for spring break.
While investors have seen the market recover massively, only to sell-off and recover, they have to be continually considering how they want their investments and assets positioned for the rest of 2019 and for the long haul.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new trading and investing ideas for investors and traders alike. Some analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.
Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters (Refinitiv) sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Friday, March 15, 2019.
Adobe Systems Inc. (NASDAQ: ADBE) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets. The red-hot tech stock has traded in a 52-week range of $204.995 to $277.61. The consensus price target is $289.89. The shares closed Thursday at $267.69 but were down almost 4% on less than stellar earnings.
Amazon.com Inc. (NASDAQ: AMZN) was raised to Overweight from Sector Weight at KeyBanc Capital Markets. The e-commerce giant has traded in a 52-week range of $1,307 to $2,050.50. Wall Street has a $2,079.58 consensus price objective, and shares closed Thursday at $1,686.22. The stock was up over 1% in premarket action.
AT&T Inc. (NYSE: T) was raised to Outperform from Market Perform at Raymond James. The consensus price target across Wall Street for the telecommunications goliath is set at $33.84, and that compares to a Thursday close of $30.28.
BayCom Corp. (NASDAQ: BCML) was started with a Buy rating and a target price of $28 at B. Riley FBR. That compares to a consensus target of $27.50. The stock was last seen on Thursday at $22.40.
BWX Technologies Inc. (NYSE: BWXT) saw its target price raised at Maxim Group to $68 from $65, which compares to a consensus target of $57. The analysts cited the Navy budget and nuclear growth opportunities. Shares ended Thursday trading at $49.09.
Cision Ltd. (NYSE: CISN) was added to the Fresh Picks list at Baird. The 52-week trading range is $10.86 to $18.28, and the consensus price target is $16.80. That compares with a Thursday close of $13.26.
Colfax Corp. (NYSE: CFX) was raised to Equal Weight from Underweight at Barclays. Shares have traded in a 52-week range of $18.95 to $37.05 and have a consensus price target of $31.25. The stock ended Thursday at $28.23, and shares were higher in Friday’s premarket.
Keane Group Inc. (NYSE: FRAC) was raised to Buy from Hold at Jefferies with a $12 price target. The consensus target is set at $13.88. The shares closed most recently at $10.00.
Lam Research Inc. (NASDAQ: LRCX) saw its price target raised to $215 at Citigroup, with the analyst citing positive channel checks for the quarter. That compares with a consensus target of $192.58. The 52-week trading range for the semiconductor capital equipment giant is $122.64 to $227.82, and the stock closed Thursday $176.53, up almost 4% on the day.
Newell Brands Inc. (NYSE: NWL) saw its target price raised to $22 and it was reiterated at Outperform at Wells Fargo. The analyst feels the possible departure of the chief executive officer is a positive. The consensus target is posted at $19.20. The shares ended trading on Thursday at $19.20.
Oracle Corp. (NASDAQ: ORCL) was downgraded to Market Perform from Outperform at BMO Capital Markets, with the price target set at $53. That compares to a consensus target of $52.10. The stock closed Thursday at $53.05, but shares were down almost 4% on so-so forward guidance following earnings.
Rent-A-Center Inc. (NASDAQ: RIII) was raised to Outperform from Market Perform at Raymond James. The consensus price target is $17.42. The stock ended Thursday at $21.30.
RumbleOn Inc. (NASDAQ: RMBL) was started with a Buy rating and a $9 price objective at B. Riley FBR. The consensus target is $10.67, and the stock ended Thursday at $5.38.
Schlumberger Ltd. (NYSE: SLB) was downgraded to Hold from Buy at Jefferies and the price target was lowered to $45. The consensus target price is $53.86, and the stock closed Thursday at $43.09.
Turtle Beach Corp. (NASDAQ: HEAR) saw its target price lowered to $26 from $28 at Maxim Group. While first-quarter earnings guidance was solid, the analysts cite the Roccat acquisition for the target cut. The consensus price target is $29.60. The shares were last seen trading at $16.25 on Thursday.
Ulta Beauty Inc. (NASDAQ: ULTA) saw its target price raised to $375 from $360 at Telsey Advisory Group. The consensus target is $329.10. Fourth-quarter results show an encouraging acceleration in the business at a time when other retailers have experienced traffic headwinds. The stock closed Thursday at $312.51 but was up over 5% in premarket trading.
Thursdays top analysts calls included Apple, Atlassian, Hilton, Microsoft, MongoDB, Salesforce.com, Snap, Visa and many more.
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