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Top Analyst Upgrades and Downgrades: Amazon, CarMax, Celgene, Chevron, Exxon, Lyft, FedEx, Peabody Energy, UPS, Wells Fargo and More
By: 24/7 Wall St. | April 1, 2019

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new trading and investing ideas for our readers. Some of the daily analyst reports cover stocks to buy, while 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 1, 2019.

Activision Blizzard Inc. (NASDAQ: ATVI) was reiterated as Outperform at Wedbush Securities, but the firm added the video game publisher to its Best Ideas List on word that it looks to be positioned to deliver significant outperformance over the next two years even as muted performance of some top games could still allow it to beat earnings expectations in 2019. It sees Activision Blizzard being worth $60 at a 20-times earnings in 2020 plus its net cash.

Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Outperform and the price target was raised up to $2,085 from $1,975 (versus a $1,780.75 prior close) at Oppenheimer. Amazon has a consensus target price of $2,080.05.

Anadarko Petroleum Corp. (NYSE: APC) was raised to Buy from Neutral and but price target was lowered to $65 from $74 (versus a $45.48 close) at Citigroup.

AstraZeneca PLC (NYSE: AZN) was raised to Outperform from Market Perform at Cowen.

CarMax Inc. (NYSE: KMX) closed up 9.6% at $69.80 on Friday, and on Monday its rating was raised to Overweight from Equal Weight at Stephens. CarMax has a consensus target price of $79.15 and a 52-week range of $55.24 to $81.67.

Celgene Corp. (NASDAQ: CELG) closed up almost 8% higher at $94.34 on Friday after two proxy firms recommended that investors support its acquisition by Bristol-Myers. As a result, it was downgraded to Neutral from Buy at UBS and was also downgraded to Neutral from Overweight at Atlantic Equities.

Chevron Corp. (NYSE: CVX) was started with an Overweight rating Morgan Stanley. After closing at $123.18 it was indicated up 1% at $124.40. Chevron’s consensus target price is $137.54.

Exxon Mobil Corp. (NYSE: XOM) was started as Equal Weight at Morgan Stanley.

FedEx Corp. (NYSE: FDX) was downgraded to Hold from Buy at Berenberg.

F5 Networks Inc. (NASDAQL: FFIV) was raised to Buy from Neutral and the target price was raised to $180 from $155 at Nomura/Instinet.

Hain Celestial Group Inc. (NASDAQ: HAIN) was downgraded to Neutral from Overweight at JPMorgan.

Jabil Inc. (NYSE: JBL) was raised to Strong Buy from Market Perform at Raymond James.

Kinder Morgan Inc. (NYSE: KMI) was downgraded to Hold from Buy at Jefferies, but the firm raised its price target to $20 from $19 in the Call. Kinder Morgan closed at $20.01 on Friday, and its 52-week range if $14.62 to $20.44, Its consensus target price was $21.47.

Lennar Corp. (NYSE: LEN) was downgraded to Outperform from Strong Buy at Raymond James.

Lyft Inc. (NASDAQ: LYFT) was started only with a Neutral rating at Guggenheim, with the firm noting that its outlook may be too difficult to digest after having to look too far out with too many assumptions.

Magnolia Oil & Gas (NYSE: MGY) was started as Outperform and assigned a $15 target price at Credit SUisse.

Monster Beverage Corp. (NASDAQ: MNST) was downgraded to Neutral from Outperform at Macquarie.

Mosaic Co. (NYSE: MOS) was downgraded to Neutral from Buy at Citigroup

NextEra Energy Partners L.P. (NYSE: NEP) was raised to Buy from Neutral and the price target was raised to $49 from $45 at Goldman Sachs.

ONEOK Inc. (NYSE: OKE) was downgraded to Hold from Buy at Jefferies.

Peabody Energy Corp. (NYSE: BTU) was started with a Buy rating and assigned a $33 target price at Deutsche Bank.

Redfin Corp. (NASDAQ: RDFN) was raised to Overweight from Neutral and the price target was raised to $26 from $17 at Piper Jaffray.

Roku Inc. (NASDAQ: ROKU) was reiterated as Overweight and the target price was raised to $76 from $63 at KeyBanc Capital Markets.

Shockwave Medical Inc. (NASDAQ: SWAV) was started with a Neutral rating and was a $37 price objective (versus a $33.47 close) at Merrill Lynch.

Textron Inc. (NYSE: TXT) was started as Neutral at Credit Suisse.

United Parcel Service Inc. (NYSE: UPS) was raised to Buy from Hold at Berenberg.

Wells Fargo & Co. (NYSE: WFC) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods and the firm, lowered its price target to $50 from $58 based on the belief that the bank will not likely save as much on its operating expenses as previously expected..

Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) was started with a Buy rating and assigned a $36 target price (versus a $26.21 close) at H.C. Wainwright. This company has an $896 million market cap, and the stock has a 52-week range of $15.17 to $31.00.

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