Investing
Top Analyst Upgrades and Downgrades: 3D Systems, Allergan, Alcon, Booking, GoPro, IAC/Interactive, Lowe's, Yelp and More
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The futures were trading lower this morning as nervous investors across Wall Street await details on the success or lack thereof in regards to the trade negotiations going on between the United States and China. Given the recent volatility, perhaps it’s time for investors to consider how they want their portfolios positioned for the rest of 2019.
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 Friday, May 10, 2019.
3D Systems Inc. (NYSE: DDD) was raised to Neutral from Sell at JPMorgan, and the company noted the massive 25% sell-off in the shares. The price target remains $8, and that compares with a consensus target of $9.50. The stock was last seen trading at $8.40.
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Acceleron Pharma Inc. (NASDAQ: XLRN) saw its price target raised to $74 from $71 at Piper Jaffray, which also reiterated the firm’s Overweight rating. That compares to a much lower consensus price target of $58.83. The stock was last seen on Thursday at $41.51.
Allergan Inc. (NYSE: AGN) saw its price target lowered to $170 from $178 at SunTrust. The analyst also kept his Buy rating on the stock, stating that while he “shares” investors’ frustration with its underperformance, he sees the valuation on the stock as reflective of its competitive threats and uninspiring pipeline. The Wall Street consensus target is $178.84, and the stock ended Thursday trading at $140.26.
Alcon Inc. (NYSE: ALC) was started with an Outperform rating at Baird with a price target of $69. The consensus target is $60.57. The stock closed Thursday at $60.69.
At Home Group Inc. (NYSE: HOME) was started with a Buy rating at Berenberg with a $30 price target. That compares to the consensus target of $26.09. The shares ended Thursday at $23.38.
Becton Dickinson Inc. (NYSE: BDX) saw its price target lowered to $262 from $273 at KeyBanc. The analyst does keep the firm’s Overweight rating in place. The consensus price target is $266.28, and the shares ended Thursday at $229.80.
Booking Holdings Inc. (NASDAQ: BKNG) saw its price target raised to $2,250 from $2,235 at Credit Suisse. The analyst also reiterated the firm’s Overweight rating on the online travel giant. The consensus price target is $2016.43. The stock closed Thursday at $1,736.03. Shares were up almost 4% in the premarket.
GoPro Inc. (NASDAQ: GPRO) saw its target price raised to $8.00 from $7.50 at JPMorgan. The analyst noted that GoPro’s execution is improving, with the company now a year into consistently meeting expectations, expanding gross margins and returning to sustainable profitability on a narrower product lineup. The consensus price target is set at $6.25. The shares closed Thursday at $6.67, up over 5% and were marginally higher in the premarket.
Guardant Health Inc. (NASDAQ: GH) saw its price target lifted to $90 from $85 at JPMorgan, where the analysts cited strong first-quarter results for the increase. The consensus target is $81.75, and the shares ended Thursday at $64.07. In the premarket, the stock was up a whopping 14.3%.
Huntsman Inc. (NYSE: HUN) was raised to Buy from Neutral at Goldman Sachs. The 52-week trading range for the chemical giant is $17.58 to $33.55. The consensus price target is posted at $28.94, and the stock closed Thursday at $19.95.
IAC/Interactive Corp. (NASDAQ: IAC) saw its price target raised to $270 from $265 at JPMorgan. That compares to a consensus price target of $263.35. The shares closed Thursday at $231.41.
Lowe’s Inc. (NYSE: LOW) is reiterated at an Outperform rating at Wells Fargo, and the analyst says investors should buy shares following the recent sell-off. The 52-week trading range for the home improvement giant is $84.75 to $118.23, and the consensus price target is $117.59. The stock was last seen at $106.29
Pinterest Inc. (NYSE: PINS) was started with a Buy rating and a $34 price target at Nomura. Analyst Mark Kelley noted that this is the fastest growing stock in his research coverage universe. The consensus price target for the recent IPO is much lower at $23.70. The stock closed way above that level on Thursday at $28.75.
Switch Inc. (NASDAQ: SWCH) saw its price target raised to $12 from $10 at JPMorgan. The consensus price objective is $12.36. The stock closed Thursday at $11.20.
Symantec Corp. (NYSE: SYMC) saw its price target lowered to $19 from $22 at Jefferies, which kept a Hold rating on the shares. The consensus target is $23.43, and the shares closed Thursday at $22.17.
Yelp Inc. (NASDAQ: YELP) was downgraded to Neutral from Buy at B. Riley FBR. The shares have traded between $29.33 and $52.50 over the past year, and the consensus price objective is $39.57. Shares closed just above that level Thursday at $39.73 but were down almost 9% in the premarket.
Thursday’s top analyst upgrades and downgrades included American Eagle Outfitters, Atlassian, Match, NextEra Energy, Nordstrom, Office Depot, Roku, Stamps.com, Tanger Factory Outlet Centers.
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