Stocks were indicated to open higher on Wednesday, even after the Dow hit new all-time highs on Tuesday. The S&P is expected to open within a couple points of its all-time highs and the Nasdaq top market darlings are indicated to open firm after a two-day sell-off on Friday and Monday. With a bull market that is over eight years old and a more than five year trend of investors finding different reasons to buy every sell-off, many investors are looking for new ideas for investing and for trading.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy. Others cover stocks to sell or to avoid.
The consensus analyst price target data are the mean of the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of the daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Wednesday, June 14, 2017.
Anadarko Petroleum Corp. (NYSE: APC) was downgraded to Underweight from Equal Weight with a $42 price target (versus a $49.22 prior closing price) at Barclays. Anadarko Petroleum has a 52-week trading range of $46.54 to $73.33 and a consensus analyst target price of $76.67.
Callaway Golf Co. (NYSE: ELY) was started with a Market Perform rating and assigned a $14 price target (versus a $12.70 closing price) at Cowen. The consensus target price is $14.88 and the 52-week range is $9.50 to $13.35.
Infinera Corp. (NASDAQ: INFN) was raised to Buy from Neutral with a $14 price target (versus a $10.96 close) at MKM Partners. It has a 52-week range of $7.23 to $13.24 and a consensus target price of $10.86.
ONEOK Inc. (NYSE: OKE) was raised to Buy from Neutral with a $59 price target (versus a $50.21 close) at UBS. The 52-week range is $42.79 to $59.47 and the consensus target price is $56.33.
Starbucks Corp. (NASDAQ: SBUX) was downgraded to Neutral from Outperform with a $65 target price (versus a $60.92 close) at Wedbush. The firm’s own store checks point to in-line trends at best, and the firm now views current 2017/2018 expectations as realistic and sees the Starbucks valuation as fair. Starbucks has a 52-week range of $50.84 to $64.87 and a consensus target price of $66.52.
Other key analyst calls were seen in the following:
Carlisle Companies Inc. (NYSE: CSL) was downgraded to Perform from Outperform at Oppenheimer.
Five Below Inc. (NASDAQ: FIVE) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
1-800-FLOWERS.COM Inc. (NASDAQ: FLWS) was started as Neutral with an $11 price target (versus a $10.25 close) at D.A. Davidson.
FTD Companies, Inc. (NYSE: FTD) was started with a Buy rating and assigned a $23 price target (versus a $19.24 close) at D.A. Davidson.
Floor & Decor Holdings Inc. (NYSE: FND) was started as Neutral at Wedbush.
Gladstone Investment Corp. (NASDAQ: GAIN) was started as Outperform with a $10 target (versus a $9.22 close) at Wedbush, noting that the high dividend income and attractive total return potential are worth the rating. Gladstone has a 52-week range of $6.99 to $9.84.
Hawaiian Holdings Inc. (NYSE: HA) was downgraded to Sell from Hold and the price target was cut to $40 from $60 at Stifel.
Microsemi Corp. (NASDAQ: MSCC) was removed from the Top Pick list and was maintained as Outperform at RBC Capital Markets. The firm also cut its price target to $58 from $64 in the call.
NeuroDerm Ltd. (NASDAQ: NDRM) was raised to Outperform from Perform with a $42 price target at Oppenheimer.
Recro Pharma Inc. (NASDAQ: REPH) was reiterated as Buy with a $21 fair value estimate (up 200% from the $6.47 prior closing price) at Janney. The firm sees IV-Meloxicam leading to more opioid-free recovery after surgery after new Phase 3 data. The shares have a 52-week range of $5.89 to $12.50.
Waddell & Reed Financial Inc. (NYSE: WDR) was raised to Market Perform from Underperform with a $17 price target (versus an $18.60 close) at Keefe Bruyette & Woods.
Zix Corp. (NASDAQ: ZIXI) was downgraded to In-Line from Outperform with a $6.50 price target (versus a $5.89 close) at Imperial Capital.
Tuesday’s top analyst upgrades and downgrades included Cheniere Energy, Consolidated Edison, Foot Locker, Shopify, Tesla, Veeco Instruments and Zoetis.
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