Top Analyst Upgrades and Downgrades: Alcoa, Allstate, Autodesk, ConocoPhillips, Frontier, Stratasys, T-Mobile and Many More
Stocks were slightly lower on Tuesday after China put in additional rules that limit certain short-selling activities and on day two of Greece’s stock market reopening. A trend that is nearing four years old now is that investors have literally bought every stock market dip, even if the reason behind each time differs. 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, while others cover stocks to sell or to avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations.
Alcoa Inc. (NYSE: AA) was raised to Buy from Neutral with a $14.00 price target (versus a $9.64 close) at UBS. Alcoa shares have a consensus price target of $14.37 and a 52-week trading range of $9.58 to $17.75.
Allstate Corp. (NYSE: ALL) was downgraded to Neutral after having been on the prized Conviction Buy List at Goldman Sachs. Allstate was also downgraded to Sector Perform from Outperform at RBC Capital Markets.
Autodesk Inc. (NASDAQ: ADSK) was started as Outperform at William Blair. This is just a day after Credit Suisse added it to both focus lists and shares rose over 5% to $53.30.
ConocoPhillips (NYSE: COP) was downgraded to Perform from Outperform at Oppenheimer. While this removes Oppenheimer’s price target, the consensus price target of $71.15 is still well above the $49.71 current price. ConocoPhillips has a 52-week range of $49.33 to $81.88.
Frontier Communications Corp. (NASDAQ: FTR) was started as Overweight with a $6.00 price target after a post-earnings run up of 9% to $5.15. Frontier has a consensus price target of $6.58 and a 52-week range of $4.19 to $8.46. Just on Monday, Merrill Lynch showed why the more than 9% dividend yield was safe and may even be raised.
Stratasys Ltd. (NASDAQ: SSYS) was raised to Overweight from Neutral at JPMorgan and the firm has a $42 price target (versus a $28.95 close). Stratasys has a consensus analyst price target of $35.76 and a 52-week range of $28.06 to $130.83.
T-Mobile US Inc. (NYSE: TMUS) was reiterated as Buy and the price target was raised to $49 from $40 (versus a $41.49 close) at Argus. Its shares have a $42.95 consensus price target and a 52-week range of $24.26 to $41.80.
Other key analyst upgrades, downgrades and initiations this Tuesday were seen the following: