Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$ABBV, $FTR, $H, $WFT
Daily HeffX-LTN reviews Wall Street analysts research reports to find new investing and trading ideas for our readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid.
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.
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