Stocks were looking for direction on Monday, with little news pulling the market one way or the other. A trend that is nearing four years old now is that investors have literally bought every stock market dip for whatever reason is popular at the time. 24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some analyst reports cover stocks to buy, and 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 Market Perform from Outperform at Cowen, with a $0.25 price target, versus a $0.18 previous close. This stock is down so low that the share volume remains active, but its prospects seem more than just discouraging due to coal these days.
Autodesk Inc. (NASDAQ: ADSK) was reiterated as Outperform with an $80 price target at Credit Suisse. What stands out here was that Credit Suisse added Autodesk to the firm’s US Focus and Global Focus Lists. Despite medium-term downside risk to fiscal 2017 and 2018 numbers, the firm sees its business model changes driving post-transition earnings of $8.00 per share in fiscal 2023, versus a $4.00 consensus.
CarMax Inc. (NYSE: KMX) was maintained as Buy but was added to the Conviction Buy List at Goldman Sachs. The firm’s $78.00 price target compares to a $64.51 previous close and a consensus price target of $77.14.
Coach Inc. (NYSE: COH) was downgraded to Neutral from Overweight and the price target was cut to $30 from $47 (versus a $31.20 close) at JPMorgan. Coach shares have a consensus price target closer to $40 and a 52-week range of $30.13 to $43.87.
Exxon Mobil Corp. (NYSE: XOM) was reiterated as Underperform and the price target was cut to $83 from $86 at Credit Suisse. The firm noted that earnings were not so bad but the shale exploration and production winning face a productivity battle.
Walt Disney Co. (NYSE: DIS) was reiterated as Outperform and the price target was raised to $130 from $120 at RBC Capital Markets. Disney’s consensus price target is $122.70 and its 52-week range is $78.54 to $120.72.
Whiting Petroleum Corp. (NYSE: WLL) was raised to Buy from Hold with a $38 price target (versus a $20.49 close) at Canaccord Genuity. Whiting closed down 8.5% at $20.49 on Friday, and it has a consensus price target close to $39 and a 52-week range of $20.17 to $92.92.
Other key analyst upgrades, downgrades and initiations were seen in the following on Monday: