Check out today's top analyst calls from around Wall Street, compiled by The Fly.
MOVING TO SIDELINES: RBC Capital analyst Deane Dray downgraded Honeywell (HON) to Sector Perform from Outperform with a price target of $158, down from $166. The analyst believes that the company is likely to lag in a cyclical rebound as it remains "in the throes" of an extended downturn in commercial aero and oil/gas. Dray added that combined, those sectors imply challenges in 40% of Honeywell's end markets, even though he sees more patient investors being potentially rewarded.
LIMIT NEAR-TERM UPSIDE: Oppenheimer analyst Leland Gershell downgraded Alnylam (ALNY) to Perform from Outperform with a price target of $156, down from $162. While the analyst believes the broad potential of the company's RNAi platform justifies high EV/revenue multiples relative to peers, he expects limited near-term upside pending catalysts that lie sometime away.
JULY TRENDS ACCELERATE: Susquehanna analyst James Friedman upgraded MercadoLibre (MELI) to Positive from Neutral with a price target of $1300, up from $630. The analyst noted its recent rally and said that while he is concerned about near-term risks, Friedman thinks it is a good opportunity to participate as the company expands its lead in e-commerce and productizes its solutions in Fintech.
ADDITIONAL CAPITAL: Credit Suisse analyst Martin Auster downgraded Esperion (ESPR) to Neutral from Outperform with a price target of $45, down from $83. The analyst contended that the company requires a "stronger capital position" to support the achievement of profitability. While Esperion management has alluded to an ex-U.S. partnership later this year, Auster noted that he does not see that as being sufficient to support the U.S. business to profitability without additional capital.
STOCK TO 'ROUGHLY MATCH THE MARKET': Argus analyst Jim Kelleher downgraded Motorola Solutions (MSI) to Hold from Buy. The analyst warned that given the economic fallout of COVID-19, state and local government tax receipts will be under pressure over the "intermediate term," which should restrict spending on new or upgraded civil agency networks. As a "market-leading" provider of vital first-responder network components and services, the company's stock should "roughly match the market" over the intermediate term, Kelleher told investors in a research note.
Honeywell
+2.825 (+1.77%)
Alnylam
-1.73 (-1.25%)
MercadoLibre
+34.02 (+3.07%)
Esperion
-3.55 (-9.60%)
Motorola Solutions
-0.85 (-0.60%)