Wall Street’s Top Analysts Upgrades, Downgrades & Initiations

Wall Street’s Top Analysts Upgrades, Downgrades & Initiations


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 Friday, as follows:

Caterpillar Inc. (NYSE:CAT) raised to Buy from Neutral at Merrill Lynch, the price objective was raised to 120 from 105 in that call. The firm noted that Caterpillar’s monthly retail sales continue to accelerate, that it may raise its dividend over the summer and that it may have another big earnings beat in July.

Chesapeake Energy Corp. (NYSE:CHK) analysts downgraded to Underperform from Neutral and the price objective was cut to 8 from at Merrill Lynch. Chesapeake has a 52-week trading range of 3.56 – 8.20. The downgrade was simply on the unfavorable impact of a slower Crude Oil recovery and with the firm having little upside at current strip prices.

Exxon Mobil Corp. (NYSE:XOM) was raised to Buy from Neutral with a 100 price objective at Merrill Lynch. The firm called Exxon an absolute and relative value, noting that its dividend is fully covered with Capex and dividend cash coverage trending toward a 40 bbl break-even by the end of the decade.

Snap Inc. (NYSE:SNAP) was down 1.5% at 22.98 ahead of earnings Wednesday and finished at 18.05 Thursday after its earnings report. Snap was maintained as Neutral and the price target was cut to 20 from 24 at JPMorgan. It was raised to Neutral from Underweight and the price target cut to 17 from 18 at Cantor Fitzgerald. Oppenheimer raised Snap’s rating to Outperform from Perform with a 23 price target. Jefferies maintained a Buy rating and kept its high 30 price target in place.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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