Stocks were indicated only marginally lower going into the unemployment report. Shares have sold off from highs as well, but the trend that has held up for almost four years is that investors have bought every stock market dip. 24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some of these analyst reports cover stocks to buy, and others cover stocks to sell or avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations.
BankUnited Inc. (NYSE: BKU) was started as Buy with a price target of $43.00 (versus a $36.49 close) at Goldman Sachs. BankUnited has a consensus price target of $39.33 and a 52-week trading range of $26.69 to $37.32. It also has a 2.3% dividend yield.
Barrick Gold Corp. (NYSE: ABX) was raised to Equal Weight from Underweight at Barclays, but the price target was cut to $10 from $11 in the call. Shares were up almost 6% at $6.88 a day ahead of this call, with a consensus price target at almost $12.00 and with a 52-week range of $6.52 to $19.36.
ConocoPhillips (NYSE: COP) was started as Outperform with a $59 price target (versus a $50.28 close) at Bernstein. ConocoPhillips has a consensus price target just north of $70 and a 52-week range of $48.33 to $81.88. One additional thing to consider with the price drop is that its dividend yield is now approaching 6%.
Michael Kors Holdings Ltd. (NYSE: KORS) was downgraded to Underweight from Neutral with a $38.00 price target (versus a $43.77 close) at Piper Jaffray. BB&T Capital Markets raised its rating to Buy from Hold and gave it a $58 price target. This was after a gain of almost 11% the prior day. It has a 52-week range of $38.16 to $83.38.
Mylan N.V. (NASDAQ: MYL) was maintained as Buy at Argus as a value stock, but the firm lowered its price target to $65 from $85. This is after a 23% pullback, and the firm believes that Mylan can more than carry on independently with smaller acquisitions.
Viacom Inc. (NASDAQ: VIAB) was down 14% to $44.10 on 10 times normal volume. Viacom was downgraded to Market Perform from Outperform at Wells Fargo, but it was raised to Overweight from Underweight with a $56 price target at Barclays. Prior to the drop, Viacom’s consensus price target was $75, and its 52-week range is $39.28 to $82.25.
Walt Disney Co. (NYSE: DIS) was reiterated as Buy with a $123 target price at Argus, as the firm said that the recent post-earnings sell-off is overdone. Disney closed down at $10.55 the prior day, down from over $12 prior to earnings this week.
Other key analyst upgrades, downgrades and initiations this Friday were seen in the following: