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Benzinga's Top Upgrades, Downgrades For October 8, 2020

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Benzinga Insights
·14 min read
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Upgrades

  • Citigroup upgraded the previous rating for Paychex Inc (NASDAQ: PAYX) from Neutral to Buy. In the first quarter, Paychex showed an EPS of $0.63, compared to $0.71 from the year-ago quarter. At the moment, the stock has a 52-week-high of 90.535 and a 52-week-low of 47.8727. Paychex closed at $80.52 at the end of the last trading period.

  • JP Morgan upgraded the previous rating for M.D.C. Holdings Inc (NYSE: MDC) from Neutral to Overweight. For the second quarter, M.D.C. Holdings had an EPS of $1.31, compared to year-ago quarter EPS of $0.86. At the moment, the stock has a 52-week-high of 49.93 and a 52-week-low of 15.75. M.D.C. Holdings closed at $48.21 at the end of the last trading period.

  • RBC Capital upgraded the previous rating for Dana Inc (NYSE: DAN) from Sector Perform to Outperform. Dana earned $0.69 in the second quarter, compared to $0.87 in the year-ago quarter. The stock has a 52-week-high of 19.21 and a 52-week-low of 4.22. At the end of the last trading period, Dana closed at $14.52.

  • For Ball Corp (NYSE: BLL), BMO Capital upgraded the previous rating of Market Perform to the current rating Outperform. Ball earned $0.65 in the second quarter, compared to $0.64 in the year-ago quarter. The current stock performance of Ball shows a 52-week-high of 86.87 and a 52-week-low of 51.26. Moreover, at the end of the last trading period, the closing price was at $86.57.

  • According to Stifel, the prior rating for Medtronic PLC (NYSE: MDT) was changed from Hold to Buy. In the first quarter, Medtronic showed an EPS of $0.62, compared to $1.26 from the year-ago quarter. The current stock performance of Medtronic shows a 52-week-high of 122.1477 and a 52-week-low of 72.13. Moreover, at the end of the last trading period, the closing price was at $105.68.

  • For Martin Marietta Materials Inc (NYSE: MLM), Deutsche Bank upgraded the previous rating of Hold to the current rating Buy. For the second quarter, Martin Marietta Materials had an EPS of $3.49, compared to year-ago quarter EPS of $3.20. The current stock performance of Martin Marietta Materials shows a 52-week-high of 281.82 and a 52-week-low of 135.08. Moreover, at the end of the last trading period, the closing price was at $264.87.

  • According to New Street, the prior rating for Tesla Inc (NASDAQ: TSLA) was changed from Neutral to Buy. For the second quarter, Tesla had an EPS of $2.18, compared to year-ago quarter EPS of $1.12. The current stock performance of Tesla shows a 52-week-high of 502.49 and a 52-week-low of 45.71. Moreover, at the end of the last trading period, the closing price was at $425.30.

  • According to Deutsche Bank, the prior rating for Vulcan Materials Co (NYSE: VMC) was changed from Hold to Buy. For the second quarter, Vulcan Materials had an EPS of $1.60, compared to year-ago quarter EPS of $1.48. The current stock performance of Vulcan Materials shows a 52-week-high of 150.22 and a 52-week-low of 65.56. Moreover, at the end of the last trading period, the closing price was at $146.56.

  • JP Morgan upgraded the previous rating for Arista Networks Inc (NYSE: ANET) from Neutral to Overweight. For the second quarter, Arista Networks had an EPS of $2.11, compared to year-ago quarter EPS of $2.44. The stock has a 52-week-high of 267.3 and a 52-week-low of 156.63. At the end of the last trading period, Arista Networks closed at $212.03.

 

Downgrades

  • For Meritage Homes Corp (NYSE: MTH), JP Morgan downgraded the previous rating of Overweight to the current rating Neutral. Meritage Homes earned $2.38 in the second quarter, compared to $1.31 in the year-ago quarter. The stock has a 52-week-high of 117.06 and a 52-week-low of 25.24. At the end of the last trading period, Meritage Homes closed at $109.24.

  • JP Morgan downgraded the previous rating for Glaukos Corp (NYSE: GKOS) from Neutral to Underweight. In the second quarter, Glaukos showed an EPS of $0.61, compared to $0.17 from the year-ago quarter. The stock has a 52-week-high of 70.96 and a 52-week-low of 23.31. At the end of the last trading period, Glaukos closed at $52.57.

  • According to JP Morgan, the prior rating for Integra Lifesciences Holdings Corp (NASDAQ: IART) was changed from Neutral to Underweight. For the second quarter, Integra Lifesciences had an EPS of $0.33, compared to year-ago quarter EPS of $0.73. At the moment, the stock has a 52-week-high of 63.23 and a 52-week-low of 34.21. Integra Lifesciences closed at $51.88 at the end of the last trading period.

  • For NeoPhotonics Corp (NYSE: NPTN), JP Morgan downgraded the previous rating of Overweight to the current rating Neutral. NeoPhotonics earned $0.16 in the second quarter, compared to $0.03 in the year-ago quarter. The stock has a 52-week-high of 10.34 and a 52-week-low of 4.6546. At the end of the last trading period, NeoPhotonics closed at $6.62.

  • For TransMedics Group Inc (NASDAQ: TMDX), JP Morgan downgraded the previous rating of Overweight to the current rating Neutral. For the second quarter, TransMedics Group had an EPS of $0.36, compared to year-ago quarter EPS of $0.44. The stock has a 52-week-high of 20.99 and a 52-week-low of 10.1. At the end of the last trading period, TransMedics Group closed at $14.16.

  • Itau BBA downgraded the previous rating for Vale SA (NYSE: VALE) from Outperform to Market Perform. For the second quarter, Vale had an EPS of $0.19, compared to year-ago quarter EPS of $0.34. The current stock performance of Vale shows a 52-week-high of 13.67 and a 52-week-low of 6.49. Moreover, at the end of the last trading period, the closing price was at $10.75.

  • JP Morgan downgraded the previous rating for Intersect ENT Inc (NASDAQ: XENT) from Overweight to Neutral. For the second quarter, Intersect ENT had an EPS of $0.65, compared to year-ago quarter EPS of $0.36. At the moment, the stock has a 52-week-high of 31.46 and a 52-week-low of 5.97. Intersect ENT closed at $18.01 at the end of the last trading period.

  • JP Morgan downgraded the previous rating for National Instruments Corp (NASDAQ: NATI) from Neutral to Underweight. In the second quarter, National Instruments showed an EPS of $0.26, compared to $0.22 from the year-ago quarter. At the moment, the stock has a 52-week-high of 47.89 and a 52-week-low of 20.42. National Instruments closed at $36.42 at the end of the last trading period.

  • According to Keefe, Bruyette & Woods, the prior rating for Jones Lang LaSalle Inc (NYSE: JLL) was changed from Outperform to Market Perform. Jones Lang LaSalle earned $0.71 in the second quarter, compared to $2.94 in the year-ago quarter. The stock has a 52-week-high of 178.55 and a 52-week-low of 78.29. At the end of the last trading period, Jones Lang LaSalle closed at $105.58.

  • For Citigroup Inc (NYSE: C), JP Morgan downgraded the previous rating of Overweight to the current rating Neutral. Citigroup earned $0.50 in the second quarter, compared to $1.95 in the year-ago quarter. At the moment, the stock has a 52-week-high of 83.11 and a 52-week-low of 32.0. Citigroup closed at $44.84 at the end of the last trading period.

 

Initiations

  • Truist Securities initiated coverage on Arcutis Biotherapeutics Inc (NASDAQ: ARQT) with a Buy rating. The price target for Arcutis Biotherapeutics is set to $38.00. For the second quarter, Arcutis Biotherapeutics had an EPS of $0.94, compared to year-ago quarter EPS of $4.69. The stock has a 52-week-high of 40.88 and a 52-week-low of 17.1. At the end of the last trading period, Arcutis Biotherapeutics closed at $24.38.

  • Berenberg initiated coverage on Unity Software Inc (NYSE: U) with a Buy rating. The price target for Unity Software is set to $105.00. The current stock performance of Unity Software shows a 52-week-high of 102.63 and a 52-week-low of 65.11. Moreover, at the end of the last trading period, the closing price was at $88.57.

  • Stifel initiated coverage on Immunovant Inc (NASDAQ: IMVT) with a Buy rating. The price target for Immunovant is set to $46.00. Interestingly, in the first quarter, Immunovant's EPS was $0.38. At the moment, the stock has a 52-week-high of 41.0 and a 52-week-low of 8.34. Immunovant closed at $38.80 at the end of the last trading period.

  • Cowen & Co. initiated coverage on DraftKings Inc (NASDAQ: DKNG) with a Market Perform rating. The price target for DraftKings is set to $55.00. In the second quarter, DraftKings showed an EPS of $0.55, compared to $0.15 from the year-ago quarter. The current stock performance of DraftKings shows a 52-week-high of 64.19 and a 52-week-low of 18.0. Moreover, at the end of the last trading period, the closing price was at $53.33.

  • With a current rating of Underperform, B of A Securities initiated coverage on Cross Country Healthcare Inc (NASDAQ: CCRN). The price target seems to have been set at $7.50 for Cross Country Healthcare. Cross Country Healthcare earned $0.16 in the second quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of 13.42 and a 52-week-low of 4.5. Cross Country Healthcare closed at $6.70 at the end of the last trading period.

  • With a current rating of Buy, B of A Securities initiated coverage on AMN Healthcare Services Inc (NYSE: AMN). The price target seems to have been set at $70.00 for AMN Healthcare Services. AMN Healthcare Services earned $0.83 in the second quarter, compared to $0.77 in the year-ago quarter. The stock has a 52-week-high of 89.22 and a 52-week-low of 36.65. At the end of the last trading period, AMN Healthcare Services closed at $60.41.

  • With a current rating of Buy, DA Davidson initiated coverage on Franchise Group Inc (NASDAQ: FRG). The price target seems to have been set at $35.00 for Franchise Group. Interestingly, in the second quarter, Franchise Group's EPS was $0.53. At the moment, the stock has a 52-week-high of 28.61 and a 52-week-low of 5.75. Franchise Group closed at $27.45 at the end of the last trading period.

  • With a current rating of Outperform, Baird initiated coverage on ITeos Therapeutics Inc (NASDAQ: ITOS). The price target seems to have been set at $45.00 for ITeos Therapeutics. In the second quarter, ITeos Therapeutics showed an EPS of $29.49, compared to $36.49 from the year-ago quarter. The current stock performance of ITeos Therapeutics shows a 52-week-high of 34.33 and a 52-week-low of 17.5. Moreover, at the end of the last trading period, the closing price was at $21.96.

  • For Pinnacle West Capital Corp (NYSE: PNW), Mizuho initiated coverage, by setting the current rating at Neutral. For the second quarter, Pinnacle West Capital had an EPS of $1.71, compared to year-ago quarter EPS of $1.28. At the moment, the stock has a 52-week-high of 105.51 and a 52-week-low of 60.05. Pinnacle West Capital closed at $82.97 at the end of the last trading period.

  • Atlantic Equities initiated coverage on Snowflake Inc (NYSE: SNOW) with an Underweight rating. The price target for Snowflake is set to $214.00. At the moment, the stock has a 52-week-high of 278.26 and a 52-week-low of 208.55. Snowflake closed at $245.99 at the end of the last trading period.

  • With a current rating of Overweight, Barclays initiated coverage on Sprout Social Inc (NASDAQ: SPT). The price target seems to have been set at $56.00 for Sprout Social. Sprout Social earned $0.11 in the second quarter. At the moment, the stock has a 52-week-high of 44.89 and a 52-week-low of 10.54. Sprout Social closed at $44.42 at the end of the last trading period.

  • Oppenheimer initiated coverage on Utz Brands Inc (NYSE: UTZ) with an Outperform rating. The price target for Utz Brands is set to $21.00. The current stock performance of Utz Brands shows a 52-week-high of 19.16 and a 52-week-low of 15.98. Moreover, at the end of the last trading period, the closing price was at $18.09.

  • With a current rating of Buy, BTIG initiated coverage on Personalis Inc (NASDAQ: PSNL). The price target seems to have been set at $35.00 for Personalis. In the second quarter, Personalis showed an EPS of $0.29, compared to $0.89 from the year-ago quarter. The current stock performance of Personalis shows a 52-week-high of 29.15 and a 52-week-low of 4.27. Moreover, at the end of the last trading period, the closing price was at $28.90.

  • With a current rating of Buy, BTIG initiated coverage on Natera Inc (NASDAQ: NTRA). The price target seems to have been set at $90.00 for Natera. In the second quarter, Natera showed an EPS of $0.75, compared to $0.48 from the year-ago quarter. At the moment, the stock has a 52-week-high of 74.47 and a 52-week-low of 16.87. Natera closed at $72.56 at the end of the last trading period.

  • BTIG initiated coverage on T2 Biosystems Inc (NASDAQ: TTOO) with a Buy rating. The price target for T2 Biosystems is set to $2.50. In the second quarter, T2 Biosystems showed an EPS of $0.09, compared to $0.35 from the year-ago quarter. The stock has a 52-week-high of 3.15 and a 52-week-low of 0.235. At the end of the last trading period, T2 Biosystems closed at $1.30.

  • BTIG initiated coverage on Accelerate Diagnostics Inc (NASDAQ: AXDX) with a Neutral rating. For the second quarter, Accelerate Diagnostics had an EPS of $0.35, compared to year-ago quarter EPS of $0.38. The stock has a 52-week-high of 19.11 and a 52-week-low of 4.53. At the end of the last trading period, Accelerate Diagnostics closed at $11.19.

  • Piper Sandler initiated coverage on Signature Bank (NASDAQ: SBNY) with an Overweight rating. The price target for Signature Bank is set to $120.00. Signature Bank earned $2.21 in the second quarter, compared to $2.72 in the year-ago quarter. At the moment, the stock has a 52-week-high of 148.64 and a 52-week-low of 68.98. Signature Bank closed at $86.05 at the end of the last trading period.

  • With a current rating of Overweight, Piper Sandler initiated coverage on Cardiff Oncology Inc (NASDAQ: CRDF). The price target seems to have been set at $25.00 for Cardiff Oncology. Cardiff Oncology earned $0.51 in the second quarter, compared to $0.76 in the year-ago quarter. At the moment, the stock has a 52-week-high of 16.0 and a 52-week-low of 0.825. Cardiff Oncology closed at $13.51 at the end of the last trading period.

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