Stocks were mixed on Monday after hitting new highs last week. Investors have set the trend in stone by buying stocks after every single pullback. They see each pullback as a chance to buy stocks they wanted to own or that are overlooked or offer value.
24/7 Wall St. reviews dozens of analyst research reports each morning. The aim is to find new investment and trading ideas for its readers. Some analyst reports cover stocks to buy, while others cover stocks to sell or avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations.
Arch Coal Inc. (NYSE: ACI) was downgraded to Sell from Buy at Argus, and the firm said it will remove it from the coverage universe in three months. Argus said that it just does not see prospects for improved results or stronger industry fundamentals.
Boeing Co. (NYSE: BA) was downgraded to Sell from Neutral at Goldman Sachs, with the note that Boeing is the most exposed to aircraft demand risks. Stifel reiterated its Buy rating and raised its target to $175 from $160. Just last week we had a call showing Boeing may rise to as much as $200.
Canadian Pacific Railway Ltd. (NYSE: CP) was started as Overweight at J.P. Morgan.
Colgate-Palmolive Co. (NYSE: CL) was raised to Buy from Neutral at Citigroup.
CSX Corp. (NYSE: CSX) was started as Overweight at J.P. Morgan.
CyberArk Software Ltd. (NASDAQ: CYBR) was downgraded to Underweight from Neutral at J.P. Morgan. This stock has nearly doubled in recent weeks.
DirecTV (NASDAQ: DTV) was downgraded to Hold from Buy at Brean Capital.
Interactive Brokers Group Inc. (NASDAQ: IBKR) was downgraded to Market Perform at Keefe Bruyette & Woods.
Laboratory Corp. of America Holdings (NYSE: LH) was raised to Outperform from Neutral and the price target was raised to $140 from $113 (versus a $121.08 close) at Credit Suisse. It also was raised to Overweight from Neutral at Piper Jaffray.
Norfolk Southern Corp. (NYSE: NSC) was started as Underweight at J.P. Morgan.
Penn National Gaming Inc. (NASDAQ: PENN) was raised to Buy from Neutral at Bank of America Merrill Lynch.
Quest Diagnostics Inc. (NYSE: DGX) was downgraded to Underperform from Neutral at Merrill Lynch.
Rio Tinto PLC (NYSE: RIO) was downgraded to Neutral from Buy at UBS, but the overseas price target was raised marginally in the call.
Superior Energy Services Inc. (NYSE: SPN) was downgraded to Neutral from Outperform and the price target was cut to $23 from $27 by Credit Suisse.
In case you missed Friday’s top analyst upgrades and downgrades, they were in shares of Wal-Mart, Garmin, DSW, Kinder Morgan, Hasbro and more.