Check out today's top analyst calls from around Wall Street, compiled by The Fly.
RENAULT UPGRADED, NISSAN DOWNGRADED: Jefferies analyst Philippe Jean Houchois upgraded Renault (RNLSY) to Buy with a price target of EUR 78. The analyst sees the most likely outcome after Carlos Ghosn's arrest as being a re-balancing of the alliance between Renault and Nissan (NSANY) with Renault reducing its stake to possibly as low as 15%. Lowering its Nissan would help reduce the valuation discount and enable Renault to redeploy capital organically or in acquisitions, Houchois tells investors in a research note. Meanwhile, Macquarie analyst Janet Lewis downgraded Nissan to Neutral and lowered her price target for the shares to 990 yen from 1,350 yen.
ARGUS UPGRADES AUTODESK: Argus analyst Joseph Bonner upgraded Autodesk (ADSK) to Buy from Hold with a price target of $160, saying the company has turned a corner in its business transition after 3 consecutive quarters of profitability and raised FY19 guidance. Bonner warns that construction and manufacturing are "volatile sectors" and that exposure to those industries raises risks for the company, but he also believes that the 22% pullback in Autodesk's stock price from the August highs provides a favorable entry point for investors.
RBC DOWNGRADES CREDIT SUISSE: RBC Capital analyst Anke Reingen downgraded Credit Suisse (CS) to Sector Perform and lowered her price target for the shares to 15 francs from 17.50 francs. A re-rating higher of shares in the near-term will be difficult amid pressure on revenue and limited scope to cut more costs, Reingen tells investors in a research note. The analyst reduced her fiscal 2019 estimates for Credit Suisse by 10% to reflect current market trends.
Renault
+ (+0.00%)
Nissan
+ (+0.00%)
Autodesk
-2.35 (-1.74%)
Acquired by UBS
-0.16 (-1.34%)