Stocks were indicated lower on Tuesday due to weak retail earnings and due to Chinese stock market weakness persisting. While the bull market is over six years old now, the one trend that is nearly four years old is that investors have bought every stock market sell-off. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading ideas and investing ideas for its readers. Some analyst calls cover stocks to buy, and other analyst calls cover stocks to sell or stocks to avoid.
These are this Tuesday’s top analyst upgrades, downgrades, and initiations.
Agilent Technologies Inc. (NYSE: A) was reiterated as Buy with a fair value estimate of $46.00 at Janney Capital Markets. BofA Merrill Lynch reiterated a Buy rating and a $46 price objective after a solid quarterly report despite China weakness.
SanDisk Corp. (NASDAQ: SNDK) was downgraded to Underperform from Buy with a price objective of $40.00 at BofA Merrill Lynch. SanDisk had a consensus price target closer to $66 and closed at $58.20, and it has a 52-week range of $53.18 to $106.64.
SunEdison, Inc. (NYSE: SUNE) was reiterated as Outperform with a $35 target price at Credit Suisse. This is after a $14.68 and after a new warehouse and capital raise address liquidity concerns based upon a proposed offering of $500 million in perpetual convertible preferred stock.
Urban Outfitters Inc. (NASDAQ: URBN) was maintained as Neutral and the target price was cut to $38 from $40 at Credit Suisse. Mizuho maintained its Neutral rating but cut its target price down to $34 from $36. Shares were down 1% at $31.90 after earnings, against a 52-week range of $27.89 to $47.25.
The Walt Disney Company (NYSE: DIS) was downgraded to Market Perform from Outperform at Wells Fargo. Disney shares rose almost 2% at $109.05 the prior day, and it has a consensus price target of $121.30 and a 52-week range of $78.54 to $122.08. This was just noted over the weekend as having one of three bad charts trying to show signs of life.
Other top analyst upgrades, downgrades and initiations from this Monday were seen in other companies as follows:
Activision Blizzard Inc. (NASDAQ: ATVI) was reiterated as Buy and the price target was raised to $34 from $30 (versus $29.30 close) at Argus.