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Top Analyst Upgrades and Downgrades: Amazon, Dover, Facebook, Lam Research, Newmont Mining, Occidental, Six Flags, Tesla, 3D Systems and More
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Stocks were indicated to open lower on Monday after the Easter three-day weekend. With the major market indexes all still up well into the double-digit percentages year to date, both the S&P 500 and Nasdaq are still very close to hitting all-time highs again. Investors ought to be considering how they want their portfolios positioned for the rest of the year and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new trading and investing ideas for our readers. Some of the daily analyst reports cover stocks to buy, but other reports 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 and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Monday, April 22, 2019.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Outperform with a $2,000 price target (versus a $1,861.69 prior close) at Wedbush Securities, with firm calling for upside to earnings with gross margins remaining the top story ahead of this Thursday’s earnings call.
Autoliv Inc. (NYSE: ALV) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Dover Corp. (NYSE: DOV) was downgraded to Neutral from Outperform at Robert W. Baird.
D.R. Horton Inc. (NYSE: DHI) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods.
Facebook Inc. (NASDAQ: FB) was reiterated as Outperform with a $200 price target (versus a $178.28 close) at Wedbush ahead of earnings. The firm is calling for revenue upside with strength in its ad product momentum and engagement growth.
IPG Photonics Corp. (NASDAQ: IPGP) was raised to Buy from Neutral with a $200 price objective (versus a $174.84 close) at Merrill Lynch.
Lam Research Corp. (NASDAQ: LRCX) was raised to Buy from Neutral and the target price was raised to $235 from $170 (versus a $194.77 close) at B. Riley FBR. The 52-week range is $122.64 to $209.92, and the consensus target price is $100.47.
Neurocrine Biosciences Inc. (NASDAQ: NBIX) was raised to Overweight from Neutral and the target price was raised to $106 from $100 (versus a $78.43 close, after a 3.3% drop) at JPMorgan.
Newmont Mining Corp. (NYSE: NEM) was raised to Buy from Hold with a $46 price target (versus a $33.04 close, after a 3.3% drop) at TD Securities. The stock has a 52-week range of $29.06 to $41.49 and a consensus target price of $40.91.
Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Neutral from Buy at Mizuho Securities and the price target was cut to $70 from $83 (versus a $61.82 close) in the call. The consensus target price is $78.07. The 52-week trading range is $56.83 to $87.67.
ONEOK Inc. (NYSE: OKE) was downgraded to Neutral from Buy at Seaport Global.
Rent-A-Center Inc. (NASDAQ: RCII) was raised to Strong Buy from Outperform and the price target was raised to $27 from $25 (versus a $21.37 close) at Raymond James. The stock was indicated up 3.4% at $22.10, and it has a consensus target price of $20.67.
Rogers Communications Inc. (NYSE: RCI) was downgraded to Sector Perform from Sector Outperform at Scotiabank.
Santander Consumer USA Holdings Inc. (NYSE: SC) was downgraded to Neutral from Overweight at Piper Jaffray.
Sensata Technologies Holding PLC (NYSE: ST) was downgraded to Neutral from Overweight at JPMorgan.
Six Flags Entertainment Corp. (NYSE: SIX) was started with a Hold rating at Jefferies. After closing at $50.65, the consensus target price is $58.30 and the 52-week trading range is $46.68 to $73.38.
Tesla Inc. (NASDAQ: TSLA) was downgraded to Underperform from In-Line at Evercore ISI Group. Shares closed up 0.75% at $273.26 ahead of this call and were indicated down 1.7% at $268.60 on Monday after a reported explosion of a parked car in Shanghai.
3D Systems Corp. (NYSE: DDD) was started with a Hold rating at Craig-Hallum. The stock closed down 1% at $10.89 ahead of the call, with a consensus target price is $12.67. The 52-week trading range is $9.00 to $21.78.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) was started with a Buy rating and assigned an $18 price target (versus an $8.09 close) at Canaccord Genuity.
SunTrust Robinson Humphrey has three semiconductor stocks it likes heading into earnings, despite a massive run-up seen in the key semiconductor stocks and sector ETFs so far in 2019.
Wedbush has taken a cautious view of the cruise line industry ahead of earnings, with the firm noting that fuels costs, currency effects, Cuba and lawsuits may weigh on the companies. That said, Royal Caribbean Cruises Ltd. (NYSE: RCL) remains as the firm’s favorite cruise name on a relative basis, with the firm believing that Royal Caribbean avoids the biggest headwind of 2019 from European weakness, even if fuel costs and currency volatility represent a combined headwind that may be difficult to overcome.
Here are five stocks under $10 with massive upside potential if the analysts are right in their calls.
As the markets were closed for Good Friday, the top analyst calls seen last Thursday included American Electric Power, CVS Health, Ecolab, Entergy, Microsoft, Morgan Stanley, PepsiCo, Snap, Yelp and many more.
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