Stocks were indicated lower on Tuesday, but this follows big gains on Monday. With this bull market more than eight years old, investors have shown for more than the past five years that they will buy all market pullbacks. Those same investors are also still looking for new trading and investing ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for our readers. Some analyst reports cover stocks to buy, and some reports cover stocks to sell or to avoid.
Color has been added on many of the following calls, and the consensus analyst price targets referenced are from Thomson Reuters. These are the top analyst upgrades, downgrades and initiations seen on Tuesday, April 18, 2017:
Alibaba Group Holding Ltd. (NYSE: BABA) was started with a Buy rating and assigned a $140 price target (versus a $111.76 prior close) at Benchmark. Alibaba was indicated down 0.4% at $111.28 on Tuesday, in a 52-week trading range of $73.30 to $111.88 and with a consensus analyst price target of $128.07.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform at Credit Suisse, but the firm raised its target to $170 from $160 after shares closed up 0.5% to $141.80. Apple has a 52-week range of $89.47 to $145.46 and a consensus target price of $147.61.
Match Group Inc. (NASDAQ: MTCH) was started with a Buy rating and assigned a $21 price target at Jefferies, after it closed at $17.35. Match’s Tinder was the asset to watch as it accelerated monetization efforts. Industry tailwinds are also noted as a positive for Match. The 52-week range is $10.72 to $19.74.
McDonald’s Corp. (NYSE: MCD) was raised to Outperform from Market Perform at Bernstein, and the price target was raised to $160 from $129 (versus a $131.35 prior close). Wells Fargo raised its rating to Outperform just a day earlier, but what stands out in the Bernstein call is that its $160 target is $13 higher than the highest analyst target on all of Wall Street. McDonald’s has a 52-week range of $110.33 to $131.96 and a consensus target price of $134.35.
Netflix Inc. (NASDAQ: NFLX) closed up 3% at $147.25 ahead of earnings and was indicated up 1% at $148.64 afterward. Cantor Fitzgerald maintained an Overweight rating and raised its price target to $165 from $160. Wedbush reiterated its Underperform rating, but it raised its dismal target of $68 up to $73 based on cash burn concerns.
Synacor Inc. (NASDAQ: SYNC) was started as Buy with an $8 price target at Canaccord Genuity. This represents more than 100% in implied upside from a $3.55 close, but Synacor recently raised cash and this firm was a book-runner of the deal. Synacor has a 52-week range of $1.35 to $4.25, and the consensus analyst price is $5.83 from a small group of analysts.
Other key analyst calls were seen in the following: