Stocks were indicated lower on Friday morning ahead of a GDP revision. While this week has been a pullback, the reality is that investors have lined up for close to four years and have found myriad different reasons to buy stocks on each and every single pullback. 24/7 Wall St. reviews dozens of analyst research reports each day to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations.
Abercrombie & Fitch Co. (NYSE: ANF) was downgraded to Sell from Neutral at Janney Capital Markets. The firm’s fair value estimate is now $15 (versus a $22.30 close), based on negative comparable sales expectations, risks that the turnaround will take longer and on an uncertainty of attracting new customers. Credit Suisse maintained its Underperform rating but raised the target price to $15 from $14.
Broadcom Corp. (NASDAQ: BRCM) was downgraded to Neutral from Positive at Susquehanna. Cowen downgraded it to Neutral from Outperform. These calls are after the merger announcement rather than based on poor fundamentals.
Keurig Green Mountain Inc. (NASDAQ: GMCR) was started as Neutral with a $100 price target (versus a $88.22 close) at Wedbush. The consensus price target is closer to $123 here, but Keurig shares have been pressured since the telegraph of its pricing and timing of the KOLD release.
National Oilwell Varco Inc. (NYSE: NOV) was started with an Underweight rating and was given a $40 price target (versus a $49.89 close) at JPMorgan. Its consensus analyst price target is $51.00.
Transocean Ltd. (NYSE: RIG) was started as Underweight with a $16.00 price target (versus a $19.01 close) at JPMorgan. The consensus price target is even lower at $14.00, and the 52-week range is $13.28 to $46.12.
Weatherford International PLC (NYSE: WFT) was started with an Overweight rating and the price target is $19.00 (versus a $13.60 close) at JPMorgan. Weatherford’s consensus analyst price target is $16.00.
Other key analyst upgrades, downgrades and initiations seen this Friday were as follows: