247WallSt.com
0
All posts from 247WallSt.com
247WallSt.com in 247WallSt.com,

Top Analyst Upgrades and Downgrades: BankUnited, Barrick Gold, ConocoPhillips, Michael Kors, Mylan, Viacom, Disney and Many More

Stocks were indicated only marginally lower going into the unemployment report. Shares have sold off from highs as well, but the trend that has held up for almost four years is that investors have bought every stock market dip. 24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some of these analyst reports cover stocks to buy, and others cover stocks to sell or avoid.

These are this Friday’s top analyst upgrades, downgrades and initiations.

BankUnited Inc. (NYSE: BKU) was started as Buy with a price target of $43.00 (versus a $36.49 close) at Goldman Sachs. BankUnited has a consensus price target of $39.33 and a 52-week trading range of $26.69 to $37.32. It also has a 2.3% dividend yield.

Barrick Gold Corp. (NYSE: ABX) was raised to Equal Weight from Underweight at Barclays, but the price target was cut to $10 from $11 in the call. Shares were up almost 6% at $6.88 a day ahead of this call, with a consensus price target at almost $12.00 and with a 52-week range of $6.52 to $19.36.

ConocoPhillips (NYSE: COP) was started as Outperform with a $59 price target (versus a $50.28 close) at Bernstein. ConocoPhillips has a consensus price target just north of $70 and a 52-week range of $48.33 to $81.88. One additional thing to consider with the price drop is that its dividend yield is now approaching 6%.

Michael Kors Holdings Ltd. (NYSE: KORS) was downgraded to Underweight from Neutral with a $38.00 price target (versus a $43.77 close) at Piper Jaffray. BB&T Capital Markets raised its rating to Buy from Hold and gave it a $58 price target. This was after a gain of almost 11% the prior day. It has a 52-week range of $38.16 to $83.38.

Mylan N.V. (NASDAQ: MYL) was maintained as Buy at Argus as a value stock, but the firm lowered its price target to $65 from $85. This is after a 23% pullback, and the firm believes that Mylan can more than carry on independently with smaller acquisitions.

Viacom Inc. (NASDAQ: VIAB) was down 14% to $44.10 on 10 times normal volume. Viacom was downgraded to Market Perform from Outperform at Wells Fargo, but it was raised to Overweight from Underweight with a $56 price target at Barclays. Prior to the drop, Viacom’s consensus price target was $75, and its 52-week range is $39.28 to $82.25.

Walt Disney Co. (NYSE: DIS) was reiterated as Buy with a $123 target price at Argus, as the firm said that the recent post-earnings sell-off is overdone. Disney closed down at $10.55 the prior day, down from over $12 prior to earnings this week.

ALSO READ: 5 Analyst Picks from July That Could Double

Other key analyst upgrades, downgrades and initiations this Friday were seen in the following:


Box Inc. (NYSE: BOX) was raised to Outperform from Perform and was given a $21 price target (versus a $14.01 close) at Oppenheimer.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was maintained as Outperform but the price target was trimmed to $54 from $58 at RBC Capital Markets.

Chemours Co. (NYSE: CC) was raised to Neutral from Underweight and with an $11 price target (versus an $11.10 close) at JPMorgan.

Coach Inc. (NYSE: COH) was raised to Buy from Neutral at UBS. Argus maintained its Hold rating but gave some positive comments and said that its dividend yield of 4.2% remains incentive for patient investors.

Cornerstone OnDemand Inc. (NASDAQ: CSOD) was raised to Outperform from Neutral and the price target was raised to $48 from $33 (after a 6% drop to $35.74) at Credit Suisse.

Endologix Inc. (NASDAQ: ELGX) was raised to Outperform from Perform and it was given a $17 price target (versus a $12.36 close) at Oppenheimer.

ALSO READ: 4 Oppenheimer August Best Idea Stocks to Buy

Energizer Holdings Inc. (NYSE: ENR) was reiterated as Outperform but the price target was raised to $52 from $40 (versus a $41.14 close) at RBC Capital Markets.

Hi-Crush Partners L.P. (NYSE: HCLP) was downgraded to Sector Perform from Outperform and the price target was more than cut in half, down to $24 from $50 (versus a $17.23 close), at RBC Capital Markets.

Hercules Technology Growth Capital Inc. (NYSE: HTGC) was raised to Outperform from Market Perform at Keefe Bruyette & Woods.

Iconix Brand Group Inc. (NASDAQ: ICON) was downgraded to Hold from Buy with a price target slashed all the way to $16 from $36 (versus a $19.60 close and $17.25 early Friday indications) at Wunderlich. This is after news that its CEO is stepping down ahead of next week’s earnings.

MarkWest Energy Partners L.P. (NYSE: MWE) was downgraded to Neutral from Outperform and the price target was cut to $72 from $81 (versus a $55.07 close) at Credit Suisse.

PHH Corp. (NYSE: PHH) was slaughtered with a 32% loss to $16.28 on Thursday. It was downgraded to Market Perform from Outperform and the price target was cut to $20 from $28 at FBR Capital Markets.

Penn Virginia Corp. (NYSE: PVA) was downgraded to Neutral from Outperform and the target price was slashed to $1.00 from $4.00 (versus a $0.95 close) at Credit Suisse.

Planar Systems Inc. (NASDAQ: PLNR) was raised to Buy from Neutral with a target price of $5.50 (versus a $3.75 close) at Roth Capital.

ALSO READ: The 5 Nations Still Buying Gold for Their Central Banks

Sally Beauty Holdings Inc. (NYSE: SBH) was downgraded to Neutral from Buy and the price target was cut to $30 from $37 (versus a $26.81 close) at B. Riley.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was downgraded to Neutral from Buy with a $33.00 price target (versus a $34.63 close) at SunTrust Robinson Humphrey.

Shutterstock Inc. (NYSE: SSTK) shares tanked, falling 32% after weak guidance. It was downgraded to Hold from Buy at Jefferies. William Blair also downgraded Shutterstock to Market Perform from Outperform.

Springleaf Holdings Inc. (NYSE: LEAF) was raised to Buy from Neutral with a price target of $58.00 (versus a $45.94 close) at Sterne Agee CRT.

If you missed Thursday’s top analyst upgrades and downgrades, they were in shares of EMC, FitBit, Keurig Green Mountain, Stratasys, Tesla Motors, Wendy’s and over a dozen more.

By Jon C. Ogg


More