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Top Analyst Upgrades and Downgrades: AbbVie, Apple, Arch Coal, FedEx, Ford, GM, Nvidia, Skyworks, Stitch Fix, WWE and More
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Stocks started out the week looking for direction. Despite last Friday’s selling pressure, the major indexes remain close to all-time highs, even as the coronavirus numbers grow. Many investors have yet to make any major changes to their holdings after the incredible gains from 2019. This is an election year with much at stake, and strategists are largely calling for single-digit percentage gains in 2020.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. our goal is to try to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some calls cover stocks to sell or to avoid.
We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.
These are the top analyst upgrades, downgrades and initiations from Monday, February 10, 2020.
AbbVie Inc. (NYSE: ABBV) was reiterated as Buy and the target price was raised to $104 from $96 at Mizuho. Shares closed up almost 6% at $92.29 on Friday, with a $95.42 prior consensus target price.
Air Products & Chemicals (NYSE: APD) was raised to Overweight from Equal Weight at Morgan Stanley.
Akero Therapeutics Inc. (NASDAQ: AKRO) was started as Buy with a $36 target price (versus a $26.009 prior close) at Canaccord Genuity.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy with a $400 price target by Wedbush Securities, but the firm noted that a delay in production resumption at Foxconn due to the coronavirus would act as a shock to the system and result in supply chain disruption further for iPhone and AirPods production.
Aramark Corp. (NYSE: ARMK) was started with a Sell rating and a $39 target price (versus a $40.77 close) at Citigroup. It had a $48.31 consensus target price and a 52-week trading range of $25.49 to $47.22.
Arch Coal Inc. (NYSE: ARCH) was started with a Buy rating at Benchmark. After closing down 3.1% at $55.69 on Friday, its shares were down almost 4% more at $53.50 in early trading indications on Monday. The prior consensus target price was $93.67.
Canada Goose Holdings Inc. (NYSE: GOOS) was downgraded to Market Perform from Outperform at Cowen, and Goldman Sachs also downgraded it, to Neutral from Buy. The stock closed down almost 4.4% at $31.84 on Friday, with a $32.90 consensus target price.
Deckers Outdoor Corp. (NYSE: DECK) was named as the Bull of the Day at Zacks, which said that the parent company of shoe brands UGG and Hoka One One is seeing soaring sales. Its shares most recently closed at $191.38 and have a consensus price target of $209.82.
Domtar Corp. (NYSE: UFS) was raised to Market Perform with a $36 target price (versus a $33.83 close) at BMO Capital Markets.
FedEx Corp. (NYSE: FDX) was raised to Buy from Neutral with a $187 target price (versus a $155.66 close) at UBS. FedEx has a $170.72 consensus target price.
F5 Networks Inc. (NASDAQ: FFIV) was raised to Buy from Hold with a $160 target price (versus a $123.58 close) at Needham. Its consensus target price was $149.77.
Ford Motor Co. (NYSE: F) was maintained as Overweight but the target price was lowered to $11 from $12 (versus an $8.11 close) at Morgan Stanley.
General Motors Co. (NYSE: GM) was reiterated as Overweight and the target price was raised to $46 from $45 (versus a $33.63 close) at Morgan Stanley.
Grubhub Inc. (NYSE: GRUB) was reiterated as Neutral with a $45 target price (versus a $50.56 close) at Wedbush, which noted that the company is seeing some stabilization but that it is also still very competitive with a lot of work ahead.
Intercontinental Exchange Inc. (NYSE: ICE) was raised to Overweight from Equal Weight at Wells Fargo. Its shares closed up 2.8% at $92.63 on Friday, with a $103.29 consensus target price.
Kohl’s Corp. (NYSE: KSS) was named as the Zacks Bear of the Day stock. The firm said comps continue to fall at this department store chain. Shares last closed at $43.80, with a consensus price target of $47.19.
MPLX L.P. (NYSE: MPLX) was downgraded to Neutral from Outperform at Credit Suisse. It closed down 1.5% at $23.00 a share on Friday, with a $32.06 consensus target price.
New York Community Bancorp Inc. (NYSE: NYCB) was raised to Overweight from Neutral with a $13 target price (versus an $11.13 close) at Sandler Piper.
Nvidia Corp. (NASDAQ: NVDA) was reiterated as Outperform and the target price was raised to $300 from $250 at RBC Capital Markets. Shares closed down 1% at $251.59 on Friday, with a $249.78 consensus target price.
Royal Caribbean Cruises Ltd. (NYSE: RCL) was reiterated as Buy with a $164 target price (versus a $116.67 close) at SunTrust Robinson Humphrey, with the firm noting that the purchase of Hapag-Lloyd Cruises increases Royal Caribbean’s exposure to luxury and expedition segments.
Skyworks Solutions Inc. (NASDAQ: SWKS) was started with an Outperform rating and a $142 target price at Wells Fargo. It closed down 3.25 at $113.94 on Friday, with a $129.38 consensus target price.
Stitch Fix Inc. (NASDAQ: SFIX) was reiterated as Buy with a $38 target price (versus a $23.43 close) at SunTrust, with the firm seeing a faster rollout of “Shop Your Looks” and that it could accelerate revenue in the second half of 2020. The shares have a consensus target price of $30.54 and a 52-week trading range of $16.999 to $37.72.
24/7 Wall St.World Wrestling Entertainment Inc. (NYSE: WWE) was downgraded to Underweight from Overweight at Wells Fargo. Shares closed down 4.4% at $42.53 on Friday and were indicated down 3.3% at $41.11 on Monday morning.
Zions Bancorp. (NASDAQ: ZION) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
Friday’s top analyst upgrades and downgrades included Cardinal Health, Domino’s, FedEx, Ford, General Electric, Grubhub, HSBC, Marvell Technology, Twitter, Uber and many more.
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