Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$MCD, $BTU, $SNAP, $ULTA, $VALE
Below is a list of Wall Street’s Top analysts outlook for Key issues for Wednesday, as follows:
McDonald’s Corp. (NYSE:MCD) was raised to Buy from Hold and the price target was raised to 200 from 150 at Jefferies. The firm feels that the transformation of McDonald’s ownership to re-franchising and use of data and technology should attract a higher multiple over time.
Peabody Energy Corp. (NYSE:BTU) was reiterated as Buy and the price target was raised to 43 from 38 at Jefferies.
Snap Inc. (NYSE:SNAP) was raised to Overweight from Equal Weight with an 18 price target at Barclays. Snap shares have a post-IPO range of 11.28 – 29.44.
Ulta Beauty Inc. (NASDAQ:ULTA) was maintained as Buy with a 300 price target at Jefferies. Ulta closed at 221.64 the prior day, and Jefferies had management meetings that left it positive. The firm admitted that Ulta’s stock price is likely to remain volatile, but it also has a greater degree of conviction in its model leverage in the next 1 to 2 years.
Vale S.A. (NYSE:VALE) was raised to Outperform from Neutral with a 15 price target at Credit Suisse.