Stocks held their gains on Thursday and futures were indicated higher overnight, but they have since softened and gone in the red. Investors keep buying many aspects of the dips, a trend that is now four years in the making, despite this sell-off having been worse than the formal 10% correction.
24/7 Wall St. reviews dozens of analyst research reports each day 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 avoid. These are this Friday’s top analyst upgrades, downgrades and initiations.
BankUnited Inc. (NYSE: BKU) was raised to Buy from Neutral at Bank of America Merrill Lynch, and the price objective was set at $42.00. BankUnited closed at $35.95 Thursday, has a consensus target price of $39.62 and has a 52-week trading range of $26.69 to $37.92. The firm says that BankUnited has a compelling risk/reward story, is a high-growth bank, has no energy exposure and has limited risk from lower rates.
BP PLC (NYSE: BP) has an analyst horse race taking place. BP was raised to Neutral from Sell at Goldman Sachs, while it was also downgraded to Hold from Buy at Jefferies. Its American depositary shares (ADSs) closed at $31.21 on Thursday, and it has a 52-week range of $30.53 to $46.91.
Chevron Corp. (NYSE: CVX) was raised to Overweight from Neutral with a price target of $86.00 (versus a $75.66 prior close) at JPMorgan. Chevron has a consensus price target that is still somehow all the way up at $99.00 or so, and it has a 52-week trading range of $69.58 to $125.70.
Diageo PLC (NYSE: DEO) was raised to Outperform from Neutral at BNP Paribas. The firm believes the worst is over, so to speak. Diageo closed at $107.16 on Thursday in New York trading, and it has a 52-week trading range of $100.59 to $124.32.
D.R. Horton Inc. (NYSE: DHI) was reinstated as Buy at Merrill Lynch, with a $36.00 price objective. It closed at $30.78, has a consensus price target of $31.00 and has a 52-week range of $19.29 to $32.37.