Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$FDX, $IBM, $MU, $NKE
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Thursday, as follows:
FedEx Corp. (NYSE:FDX) Credit Suisse reiterated its Outperform rating and raised its target to 229 from 219, noting that the market should shrug off an initial earnings miss as the stage is set for significant growth at FedEx Express. Merrill Lynch reiterated its Buy rating and raised its price objective to 230 from 220. FedEx’s 52-wk trading range is 145.00 – 201.57.
International Business Machines Corp. (NYSE:IBM) used annual investor day to talk up the progress on its strategic initiatives: cloud, Watson, analytics and cognitive computing. Argus reiterated its Buy rating and raised its price target to $192 from $185. Argus noted that IBM has two ways to grow its cloud space because it is a cloud equipment infrastructure provider and a cloud host.
Micron Technology Inc. (NASDAQ:MU) analysts reiterated as Outperform and the price target was raised to 35 from 30 at Credit Suisse. The firm sees a sustained memory market momentum helping to boost Micron. Its 52-wk trading range is 9.35 – 26.61. The consensus analyst target price is shown at 32.79.
Nike Inc. (NYSE:NKE) was last seen trading lower on earnings, as futures orders disappoint and headwinds persist. Wedbush maintained its Neutral rating and 52 target. Jefferies maintained its Buy rating and 74 target, calling the gains by Adidas at a peak, and the firm is positive on Nike’s current product cycle. Merrill Lynch maintained its Underperform rating on Nike, noting that Vapormax could miss high expectations and with revenues expected to remain pressured.
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