Stocks were marginally lower on Monday to kick off the week, after the prior week was in the red. The one trend that is nearly four years old is that investors have found a very broad group of reasons to buy stocks literally on every single pullback. 24/7 Wall St. reviews dozens of research reports each morning of the week to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while other calls cover stocks to sell or to avoid.
These are Monday’s top analyst upgrades, downgrades and initiations.
Exxon Mobil Corp. (NYSE: XOM) was maintained as Buy at Bank of America Merrill Lynch and the firm nudged its price objective to $106 from $103. The firm believes Exxon is better off than Chevron because its bulk of capital spending needs has already peaked. Exxon was also recently included as one of our 10 stocks to own for the next decade.
Home Depot Inc. (NYSE: HD) was started as Overweight at Atlantic Equities, with a $128 price target (versus a $110.37 close and a consensus target price of $123.26).
Lululemon Athletica Inc. (NASDAQ: LULU) was maintained as Neutral with a fair value estimate of $68.00 (versus a $63.80 close) at Janney Capital Markets ahead of this week’s earnings report. Oppenheimer kept Lululemon as a top pick ahead of earnings.
3M Co. (NYSE: MMM) was reinstated as Neutral with a target price of $169 (versus its prior $178 target and a $157.08 close) at Credit Suisse.
Vodafone Group PLC (NASDAQ: VOD) was raised to Neutral from Underperform at Merrill Lynch. The call was in London, so the overseas translated price objective is $38.41, versus a $37.05 close.
Mondelez International Inc. (NASDAQ: MDLZ) was reiterated as Outperform and the price target was raised to $48 from $42 (versus a $40.02 close) at Credit Suisse. Despite us saying that Warren Buffett needs to unload this stake, Credit Suisse said that all is on track and the best is still yet to come.
These are the additional top analyst upgrades, downgrades and initiations seen from Wall Street research calls this Monday: