Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JPMORGAN UPGRADES LUMENTUM AFTER SELLOFF: JPMorgan analyst Samik Chatterjee upgraded Lumentum (LITE) to Overweight from Neutral with an unchanged price target of $80. The 19% stock decline from the highs in late August, driven by concerns relative to U.S.-China trade, over-appreciates the "modest risks" for Lumentum, Chatterjee said. He believes this creates an "attractive buying opportunity" to capitalize on the near-term improvement in the earnings outlook. GOLDMAN CUTS HUNTINGTON TO SELL: Goldman Sachs analyst Noah Poponak downgraded Huntington Ingalls Industries (HII) to Sell from Neutral and lowered his price target for the shares to $208 from $220. Poponak said Huntington is now the most expensive stock in his Defense coverage on economic, price-to-earnings and free cash flow yield. The analyst believes the stock could underperform Defense peers in the medium-term given the valuation. JEFFRIES STARTS HERBALIFE WITH A BUY: Jefferies analyst Akshay Jagdale started Herbalife Nutrition (HLF) with a Buy rating and $65 price target. After a period of "muted growth," Herbalife's sales looked poised to accelerate to a more normalized range of 5%-9%, Jagdale believes. He thinks the company should be able to grow at least in line with its total addressable market growth rate of 6%. This, coupled with margin expansion and accretive free cash flow usage, should drive "significant" earnings upside and support a "growth company valuation," Jagdale said. JPMORGAN RAISES PRICE TARGET ON NY TIMES: JPMorgan analyst Alexia Quadrani raised her price target for New York Times (NYT) to $32 and reiterated an Overweight rating on the shares ahead of the company's Q3 results. The analyst said that while quarterly subscriber growth may continue to be volatile, the company's longer-term trends are positive. She expects New York Times' growth to "remain at elevated levels for the foreseeable future." SNAP PRICE TARGET CUT AT GOLDMAN SACHS: Goldman Sachs analyst Heath Terry lowered his price target for Snap (SNAP) to $11 from $17, while reiterating a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Terry continues to believe that a Twitter-like (TWTR) turnaround is possible, particularly as the new Android app comes out of Alpha later this quarter. However, it is unlikely that Q3 results will show any signs of that as reported DAUs decline and engagement is negatively impacted by the redesign/competition, he said.