Stocks were indicated higher again on Monday after a solid week took the Dow to about 20,300 and over 2,315 on the S&P 500. Even though the bull market in nearly eight years old, investors have managed to find new reasons to buy every sell-off, and they are looking for new and overlooked opportunities. There is still a path for DJIA 21,422 later in 2017 or in early 2018.
24/7 Wall St. reviews dozens of analyst reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or to avoid.
Most of these analyst calls with expanded coverage include some color on prices, and the consensus analyst price targets are from Thomson Reuters. These are the top analyst upgrades, downgrades and initiations seen on Monday, February 13, 2017:
AK Steel Holding Corp. (NYSE: AKS) was downgraded to Equal Weight from Overweight at Morgan Stanley. It has an $11 price target but closed at $8.39, and it has a 52-week trading range of $2.27 to $11.39 and consensus analyst price target of $9.66.
J.C. Penney Co. Inc. (NYSE: JCP) was raised to Equal Weight from Underweight with a $7 price target at Morgan Stanley. Shares closed up 1% at $7.14 on Friday and were indicated up another 2.3% at $7.31 on Monday morning. J.C. Penney has a 52-week range of $6.35 to $11.99.
Hasbro Inc. (NASDAQ: HAS) was started with a Buy rating and assigned a $110 price target (versus a $97.63 prior close) at Goldman Sachs. Hasbro has a 52-week range of $70.49 to $98.26 and a consensus price target of $93.11. What should stand out here was that the highest analyst target for Hasbro shares prior to this upgrade was $100.
Petróleo Brasileiro S.A. (NYSE: PBR) was raised to Overweight from Neutral at JPMorgan. Petrobras American depositary shares closed up 2.7% at $10.42 on Friday and they were indicated up 2% at $10.63 on Monday. They have a 52-week range of $3.04 to $12.56, and the consensus price target is $11.02.
Travelers Companies Inc. (NYSE: TRV) was downgraded to Market Perform from Outperform and it has a $119 price target (versus a $119.73 close) at FBR Capital Markets. Travelers has a 52-week range of $103.45 to $123.09 and a consensus price target of $121.73.
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Other key analyst calls were seen in the following:
Agilent Technologies Inc. (NYSE: A) was reiterated as Buy and the price target was raised to $60 from $55 (versus a $50.36 close) at Janney.
Brookfield Infrastructure Partners L.P. (NYSE: BIP) was downgraded to Neutral from Outperform at Credit Suisse.
Buckeye Partners L.P. (NYSE: BPL) was downgraded to Hold from Buy with a $74 price objective (versus a $72.11 close) at Merrill Lynch.
Evercore Partners Inc. (NYSE: EVR) was downgraded to Neutral from Buy at Instinet.
Gannett Co. Inc. (NYSE: GCI) was downgraded to Hold from Buy at Argus, with the downgrade based on a deteriorating outlook despite the company taking up revenue guidance after last week’s earnings.
MDU Resources Group Inc. (NYSE: MDU) was downgraded to Hold from Buy at Argus, and the valuation stock fully valued.
Mattel Inc. (NASDAQ: MAT) was started with a Neutral rating and assigned a $27 price target (versus a $25.73 close) at Goldman Sachs. Mattel has a 52-week range of $25.17 to $34.76.
Pioneer Natural Resources Co. (NYSE: PXD) was reiterated as Buy and the price target was raised to $245 from $224 (versus a $194.46 close) at Jefferies. The firm believes that Pioneer’s 10-year plan to reach 1 MMboe/d by 2026 and generating free cash flow is unique but may take some time for investors to fully buy into.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was raised to Overweight from Neutral with a $446 price target (versus a $359.87 close) at Piper Jaffray.
Reynolds American Inc. (NYSE: RAI) was downgraded to Sector Perform from Outperform with a $60 price target (versus a $60.57 close) at RBC Capital Markets.