Top Analyst Upgrades and Downgrades: Ambev, CTI Bio, Duke, Humana, Occidental, Yelp and More
Stocks were indicated higher on Monday after last week’s selling. The culprit is a market rumor that Greece may reach a debt pact today, which maybe everyone should only believe it when they see it signed.
If one trend has held true it is that investors have lined up in droves for close to four years to buy their favorite stocks on each and every pullback. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, and others cover stocks to sell or avoid. These are this Monday’s top analyst upgrades, downgrades and initiations.
Ambev S.A. (NYSE: ABEV) was raised to Overweight from Neutral at JPMorgan. Ambev’s American depositary shares (ADSs) closed at $5.75 on Friday, in a 52-week range of $5.51 to $7.56.
CTI BioPharma Corp. (NASDAQ: CTIC) was reiterated as Buy with a fair value estimate of $3.50 (versus a $1.94 close) at Janney Capital Markets. Shares were up 6% at $2.07 in early bird trading indications on Monday after a positive ASCO cancer data presentation.
Duke Energy Corp. (NYSE: DUK) was raised to Outperform from Market Perform and the price target was set at $86.00 (versus a $75.73 close) at Bernstein. Duke’s consensus analyst target is $81.70, and it has a 52-week range of $68.81 to $89.97.
Humana Inc. (NYSE: HUM) was moved to Not Rated at Bank of America Merrill Lynch after the merger rumors broke. The firm said that Anthem would be the most strategic fit (with Aetna and Cigna also mentioned) and that the deal would still be accretive at $250.00 per share.
Occidental Petroleum Corp. (NYSE: OXY) was reiterated as Buy with a $101.00 price objective (versus a $78.19 close) at Merrill Lynch and was said again to be the firm’s top pick in the sector.
Yelp Inc. (NYSE: YELP) was reiterated as Outperform and with a $55.00 price target (versus a $47.91 close) at Cowen. The call is after a tech and media conference and was based on strong guidance. Yelp’s consensus price target is $53.31 and its 52-week range is $37.91 to $86.88.
Other key analyst upgrades, downgrades and initiations seen this Monday were as follows: