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Benzinga's Top Analyst Calls From March 29, 2018

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These headlines first appeared on Benzinga Pro.

  • Wedbush lowers GameStop Corp (NYSE: GME)’s price target from $22.50 to $19, despite thinking shares are undervalued; Believes the company will continue to trade at a lower EPS multiple until it's able to slow the decline in its core video game business.
  • BMO increased DexCom Inc (NASDAQ: DXCM)’s price target from $68 to $78 and reiterates Outperform rating as company received G6 CGM FDA approval ahead of schedule; Believes approval gives company momentum and awaits an update on product pricing, guidance on Q1 earnings call.
  • Deutsche Bank raises Nasdaq Inc (NASDAQ: NDAQ)’s price target from $90 to $95 as they believe the company is poised to accelerate growth in tangent markets due to various tech capabilities; Believes company has an underappreciated growth story and is now attractively valued.
  • Bank Of America believes the government doesn't have an existing plan to target Amazon.Com, Inc. (NASDAQ: AMZN), which makes Thursday's sell-off an attractive buying opportunity assuming the sector stabilizes; Concludes it's hard to see a scenario that reduces the company's long-term value.
  • Jefferies would sell shares of L Brands Inc (NYSE: LB) as many key product franchises are experiencing heavy promotion; firm says data indicates store traffic is weakening and that the Victoria Secret core business is eroding.
  • BMO raises Fortinet Inc (NASDAQ: FTNT)’s price target from $50 to $58 based on improving operating margins, lower capex, and steady cash cycle days; Believes company can generate products growth in the low-single digits.
  • KeyBanc out defending Tesla Inc (NASDAQ: TSLA), says ongoing checks across the U.S. and conversations with Tesla lead the firm to believe the stock is likely oversold near term; Believes Model 3 volume is ramping and backlog is continuing to grow.
  • Credit Suisse downgrades Edge Therapeutics, Inc. (NASDAQ: EDGE) from Outperform to Underperform and lowers price target from $7 to $1 as firm lowers EG-1962 probability of success from 55 percent to 0 percent after trial was discontinued; Firm notes company has no other products in development.

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Benzinga's Top Upgrades, Downgrades For March 29, 2018

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