Check out today's top analyst calls from around Wall Street, compiled by The Fly.
GOLDMAN DOWNGRADED ON 1MDB PROBE RISKS: Morgan Stanley analyst Betsy Graseck downgraded Goldman Sachs (GS) to Equal Weight from Overweight, citing the risks and uncertainties related to the bank being investigated for its role in raising funds for 1MDB. It is currently unclear how long the issue will take to resolve, what the fines and penalties could be and what costs Goldman will incur, said Graseck, who doesn't see the stock's multiple expanding significantly until the 1MDB issue is resolved. She lowered her price target on Goldman Sachs shares to $226 from $291.
STIFEL CUTS LOWE'S TO HOLD: Stifel analyst John Baugh downgraded Lowe's (LOW) to Hold from Buy and lowered his price target for the shares to $92 from $125. The company's "poor" Q3 results indicate near term execution risks are higher and the macro backdrop is unlikely to improve in the near term either, Baugh stated in a post-earnings research note. Home Depot (HD) has "widened the gap on performance and it will take some heavy lifting to reverse course," Baugh contends.
WEDBUSH SAYS BEST BUY NO LONGER A SELL: Wedbush analyst Michael Pachter upgraded Best Buy (BBY) to Neutral from Underperform, with a $65 price target, saying it has consistently defied his expectations and the company appears to have settled on the right formula for long-term growth. The analyst applauds Best Buy for its many accomplishments, not least of which is achieving the difficult financial targets it has set for itself year after year. While Pachter still harbors some concerns, including competition from Amazon (AMZN), he thinks Best Buy is poised to deliver on its promises in the coming years.