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Top Analyst Upgrades and Downgrades: Accenture, AB InBev, Cerner, CNOOC, Delta, Ford, GoDaddy, Kinder Morgan, Newmont, NuStar, United, Visa and More
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Stocks had bounced heavily on Tuesday, with a 1,167-point Dow Jones industrials pop and a 135-point S&P 500 gain, but about half of those gains were being given back in early futures indications on Wednesday. Despite the volatility, the election news and the spreading of the coronavirus, some investors are not positioned how they would like to be for a volatile year.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new trading ideas for investors and traders. Some of the daily analyst calls cover stocks to buy, while some calls cover stocks to sell or to avoid. Analysts have been ticking down many price targets or earnings targets during this volatility, even if they have remained positive. In many cases, there has not been outright panic in the stronger companies. As with all analyst reports, these should be individually verified and only used as one tool in an investment decision process.
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 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 Wednesday, March 11, 2020.
Abercrombie & Fitch Co. (NYSE: ANF) was raised to Outperform from Neutral with a $16 target price (versus an $11.49 prior close) at Wedbush Securities. Its 52-week range is $10.01 to $30.63, and its consensus target price was $16.36.
Accenture Ltd. (NYSE: ACN) was maintained as Buy but its target price was lowered to $200 from $230 at Citigroup.
American Eagle Outfitters Inc. (NYSE: AEO) was raised to Outperform from Neutral with a $14 target price (versus a $10.57 close) at Wedbush. Its 52-week range is $10.47 to $24.30, and its consensus target price was $15.27.
Anheuser-Busch InBev S.A./N.V. (NYSE: BUD) was reiterated as Buy at Argus, with the independent research firm noting that the 37% drop over the past quarter offers a buying opportunity.
Apellis Pharmaceuticals Inc. (NASDAQ: APLS) was raised to Neutral from Underperform with a $29 target price (versus a $30.95 close) at Wedbush.
AutoNation Inc. (NYSE: AN) was raised to Neutral from Underweight but its target price was lowered to $47 from $54 (versus a $40.86 close) at JPMorgan.
BWX Technologies Inc. (NYSE: BWXT) was raised to Buy from Hold at SunTrust Robinson Humphrey.
Cerner Corp. (NASDAQ: CERN) was maintained as Buy but the target price was cut to $84 from $85 at UBS.
CNOOC Ltd. (NYSE: CEO) was downgraded to Neutral from Buy at Citigroup.
Delta Air Lines Inc. (NYSE: DAL) was downgraded to Hold from Buy at Argus, with the firm throwing in the towel based on the lowered business from the coronavirus pressure.
Dick’s Sporting Goods Inc. (NYSE: DKS) was maintained as Neutral but the target price was lowered to $38 from $50 at UBS.
Domo Inc. (NASDAQ: DOMO) fell 4.8% to $14.25 on Tuesday. Credit Suisse and UBS each reiterated it as Neutral.
Ferrari N.V. (NYSE: RACE) was raised to Buy from Hold at HSBC.
Ford Motor Co. (NYSE: F) was maintained as Overweight but its target price was cut to $10 from $11 (versus a $6.26 close) at Morgan Stanley.
GoDaddy Inc. (NYSE: GDDY) was started as Buy with an $88 target price (versus a $62.19 close) at Rosenblatt. It previously had an $87.73 consensus target price, and its 52-week high is $82.30.
Hamilton Beach Brands Holding Co. (NYSE: HBB) was named as the Zacks Bear of the Day stock. The firm said that this stock has been cut in half and also has reported poor earnings. Shares last closed at $11.50, with a consensus price target of $15.00.
Kinder Morgan Inc. (NYSE: KMI) was raised to Buy from Neutral with a $19 price objective (versus a $16.04 close) at Merrill Lynch.
Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) was raised to Buy from Hold at SunTrust Robinson Humphrey.
Mastercard Inc. (NYSE: MA) was maintained as Buy but the target price was lowered to $345 from $375 (versus a $280.57 close) at Citigroup.
Newmont Corp. (NYSE: NEM) was reiterated as Buy and the target price was raised to $55 from $54 (versus a $48.38 close) at B. Riley FBR.
NuStar Energy L.P. (NYSE: NS) closed up 29.5% at $13.50, after hitting a 52-week low of $10.40 the prior day. Citigroup upgraded it to Buy from Neutral but slashed its target price to $16 from $29.
PetroChina Co. Ltd. (NYSE: PTR) was downgraded to Neutral from Buy at Citigroup.
Progressive Corp. (NYSE: PGR) was downgraded to Neutral from Buy at B. Riley FBR.
Republic Services Inc. (NYSE: RSG) was raised to Buy from Neutral with a $103 price objective (versus a $93.34 close) at Merrill Lynch.
Sanofi (NYSE: SNY) was raised to Buy from Neutral at Goldman Sachs.
Shake Shack Inc. (NYSE: SHAK) was maintained as Neutral but its target price was lowered to $50 from $75 at Wedbush.
Tetra Technologies Inc. (NYSE: TTI) was downgraded to Neutral from Buy at B. Riley FBR.
Texas Roadhouse Inc. (NASDAQ: TXRH) was named as the Bull of the Day at Zacks, which said that there is plenty of meat on this bone and a solid earnings reports has analysts revising estimates upward. Shares most recently closed at $49.59 and have a consensus price target of $67.85.
United Airlines Holdings Inc. (NYSE: UAL) was downgraded to Hold from Buy at Argus, with the firm throwing in the towel based on the lowered business from the coronavirus pressure.
Unum Group (NYSE: UNM) was raised to Neutral from Underperform at Credit Suisse, with the firm noting that its valuation reflects the risks now even if LTC downside remains.
Vail Resorts Inc. (NYSE: MTN) recently withdrew guidance due to fallout from the coronavirus on travel, and its shares previously closed down 2.2% at $177.90. KeyBanc Capital Markets maintained its Overweight rating but lowered its target price to $225 from $260. Wells Fargo maintained its Equal Weight rating but cut its target price from $220 to $190.
Valaris PLC (NYSE: VAL) was downgraded to Sell from Neutral at B. Riley FBR.
Visa Inc. (NYSE: V) was maintained as Buy but the target price was lowered to $225 from $236 (versus a $182.60 close) at Citigroup.
Vivint Smart Home Inc. (NYSE: VVNT) was downgraded to Underweight from Neutral at JPMorgan.
WideOpenWest Inc. (NYSE: WOW) was downgraded to Market Perform from Outperform at Raymond James.
Waste Management Inc. (NYSE: WM) was maintained as Buy but the target price was cut to $131 from $132 at UBS.
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Tuesday’s top analyst upgrades and downgrades included American Electric Power, Apple, Baker Hughes, Bank of America, Carnival, Cree, Exxon Mobil, JPMorgan, Microsoft, Qualcomm, Under Armour, UPS and many more.
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