Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$ABBV, $FTR, $H, $WFT
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Wednesday, as follows:
AbbVie (NYSE:ABBV) analysts reiterated as Buy with a 90 price target, plus was reiterated as a Top Pick at Jefferies. The firm sees the Rova-T deep dive keeping up with a multi-blockbuster potential with peak sales estimates of $4.3 billion and with peak risk-adjusted revenues of $2.8-B by Y 2025.
Frontier Communications Corp. (NASDAQ:FTR) was downgraded to Neutral from Buy at Merrill Lynch. The firm noted that its post-deal free cash flow is shrinking not growing, so its Bullish case that should have emerged now no longer remains worthy of a Buy rating.
Hyatt Hotels Corp. (NYSE:H) raised to Equal Weight from Underweight with a 53 price target at Morgan Stanley. Hyatt has a 52-wk trading range of 44.30 – 58.05, and it has a consensus analyst price target at 56.47.
Weatherford International PLC (NYSE:WFT) analysts maintained as Outperform at Credit Suisse, with the call coming after Weatherford named Mark McCollum, a former Halliburton CFO, as president and CEO. This was viewed as a good thing of the restructuring efforts undertaken over the past several years.