Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$AAPL, $HPE, $LULU, $NKE, $RIO
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Friday, as follows:
Apple Inc. (NASDAQ:AAPL) Wells Fargo downgraded the stock to Market Perform from Outperform. Merrill Lynch reiterated its Buy rating and 120 price objective, noting that the new iPhones and Apple Watch were mostly as expected. Apple has a 52-wk trading range of 89.47 – 123.82 and a consensus analyst price target at 123.66.
Hewlett Packard Enterprise Co. (NYSE:HPE) Jefferies raised its price target to 27.00 from 24.25. The stock was reiterated as Buy at Needham, and the price target was raised to 24 from 22. Wells Fargo downgraded it to Market Perform from Outperform. Shares closed at 22.09 and have a consensus price target of 21.56.
Lululemon Athletica Inc. (NASDAQ:LULU) was downgraded to Hold at Jefferies, and the price target was cut to 76 from 80. The firm noted that Lululemon still has ample opportunities to grow sales and margins, but it believes this is now largely factored into the stock and thinks the athleisure trend is starting to peak. Lululemon has a 52-wk trading range of 43.14 – 81.81 and a consensus price target of 72.11.
Nike Inc. (NYSE:NKE) analysts downgraded to Neutral from Overweight with a 58 price target at Piper Jaffray. The 52-wk trading range is 51.48 – 68.19, and the consensus price target at 65.79.
Rio Tinto PLC (NYSE:RIO) analysts raised to Outperform from Sector Perform at RBC Capital Markets. The stock has a 52-wk trading range of 21.89 – 40.05 with a consensus price target at 35.60.
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