Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$CAT, $COP, $PNC, $TNXP
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Thursday, as follows:
Caterpillar Inc. (NYSE:CAT) analysts started with a Buy rating at Deutsche Bank. The stock has a 52-week range of 56.36 – 84.73 and a consensus target price of 72.56. Investors are betting strongly on the turnaround for Y 2017 and beyond. Caterpillar is the top performing Dow Jones Industrial Average stock so far in Y 2016.
ConocoPhillips Corp. (NYSE:COP) raised to Hold from Sell at Jefferies, and the price target was raised to 40 from 37. This valuation call is because ConocoPhillips has been one of the most aggressive cost cutters in the energy sector, and the firm thinks it can maintain its cash cycle at 49 bbl in Crude Oil.
PNC Financial Services Group Inc. (NYSE:PNC) analysts reiterated as Buy and the price target was raised to 100 from 90 at Merrill Lynch. The firm said that PNC has 3 reasons to buy, and it was named as its Top Pick for 2-H of Y 2016. The consensus price target is 92.89, and the 52-wk trading range is 77.40 – 97.50.
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) downgraded to Hold from Buy and the price target was cut to 1 from 5 at Cantor Fitz. The stock lost over 60% and closed at 0.87 on 20X normal volume after a drug failure.
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