Stocks were handily lower on Tuesday after overseas weakness. There is still a trend for investors to seek value by buying the pullbacks and dips. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas. Some of these analyst calls are on stocks to buy, while others cover stocks to sell or avoid. These are this Tuesday’s top analyst upgrades, downgrades and initiations.
Apple Inc. (NASDAQ: AAPL) was started as Buy with a $163 price target (versus a $115.21 prior close) at Goldman Sachs. Apple has a $145.77 consensus analyst price target and a 52-week trading range of $92.00 to $134.54.
E.I. du Pont de Nemours and Co. (NYSE: DD), or DuPont, was raised to Buy from Neutral, but the $63 price target was maintained, at Citigroup. DuPont has a $61.06 consensus price target from analysts and a $47.37 to $76.59 range over the past 52 weeks.
Frontier Communications Corp. (NASDAQ: FTR) was started as Sector Perform with a $6.00 price target (versus a $4.94 close) at RBC Capital Markets. Frontier has a consensus price target of $6.58 and a 52-week range of $4.19 to $8.46.
Hewlett-Packard Co. (NYSE: HPQ) was started as Neutral with a $30.00 price target (versus a $26.44 close) at Goldman Sachs. It has a 52-week range of $24.85 to $41.10 and a consensus price target of $36.88.
HSBC Holdings PLC (NYSE: HSBC) was already rated as Buy at Goldman Sachs, but now the bank has been added to the prized Conviction Buy List. HSBC’s American depositary shares (ADSs) closed at $38.46 on Monday, and it has a 52-week range of $37.47 to $53.44.
3M Co. (NYSE: MMM) was reiterated as Buy with a $180 price target (versus a $140.04 close) at Argus. The call is after the weakness creating a buying opportunity. 3M has a consensus price target of $161.36 and a 52-week range of $130.60 to $170.50.
Red Hat Inc. (NYSE: RHT) was reiterated as Outperform with an $84 price target at Credit Suisse. Mizuho Securities reiterated its Buy rating and $88 price target. Red Hat has a consensus analyst price target of $83.30 and a 52-week range of $52.53 to $81.49.
Other key analyst upgrades, downgrades and initiations on Monday were also seen in the following:
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