Stocks were indicated lower on Tuesday ahead of the FOMC meeting. Still, the market is within striking distance of all-time highs again, and investors have so far bought every single pullback for close to four years now. 24/7 Wall St. reviews dozens of research reports from analysts each day in order to get new trading and investment ideas for its readers. Some analyst reports cover stocks to buy, while others cover stocks to sell or avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations.
Apple Inc. (NASDAQ: AAPL) beat earnings and delivered on a buyback and dividend boost. We have seen many analyst calls as follows:
- Oppenheimer reiterated its Outperform rating and $155 price target.
- Baird has an Outperform rating and raised its target to $155.
- RBC has an Outperform rating and raised its target to $150.
- Canaccord Genuity has a Buy rating and raised its target to $155.
- Credit Suisse reiterated its Outperform rating and $145 target.
- Bank of America Merrill Lynch maintained a Buy rating and moved its price objective to $145.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was downgraded to Underweight from Equal Weight at Morgan Stanley.
Sirius XM Radio Inc. (NASDAQ: SIRI) has released earnings. The first call seen was from Merrill Lynch, reiterating its Buy rating and $5 price objective (versus a $3.95 close). The firm talked up Sirius XM’s fast growth, its more than 70% contribution margin, a sizable capital return capacity, roughly 80% EBITDA/Free Cash Flow conversion, rising new car penetration, large used car market potential and the connected car and Telematics opportunities.
Time Warner Inc. (NYSE: TWX) was started as Buy with a $103 price target (versus a $84.76 close) at CLSA.
Whiting Petroleum Corp. (NYSE: WLL) was raised to Buy from Neutral and the price target was raised to $44 from $34 (versus a $35.13 close) at SunTrust Robinson Humphrey.
The Merrill Lynch strategy team said the following:
Clients were buyers of US stocks as the S&P 500 climbed last week, led by institutional clients and corporate buybacks. ETFs saw the biggest inflows, while single stocks in the Consumer sectors saw the largest outflows. Clients have exhibited a renewed confidence in Financial stocks, with consistent inflows since the stress test results in March.
24/7 Wall St. has also covered more than a dozen other key analyst upgrades, downgrades and initiations, as follows: