Stocks were indicated higher yet again on Thursday, even after the Federal Reserve finally raised interest rates. The trend that has been in place for more than four years now is for investors and traders to buy every pullback. The reason is different each time, but the outcome has been the same.
24/7 Wall St. reviews dozens of analyst reports each day of the week to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, and some calls cover stocks to sell or avoid. These are this Thursday’s top analyst upgrades, downgrades and initiations.
AK Steel Holding Corp. (NYSE: AKS) was downgraded to Sell from Hold and the price target was cut to $1.00 from $3.00 (versus a $2.19 prior close) at Deutsche Bank. AK Steel has a consensus analyst price target of $2.86 and a 52-week trading range of $1.99 to $6.37.
CVS Health Corp. (NYSE: CVS) was downgraded to Neutral from Buy and the price target was lowered to $106.00 from $113.00 (versus a $97.50 close) at Goldman Sachs. CVS has a consensus analyst price target of $116.19 and a 52-week range of $81.37 to $113.65.
Micron Technology Inc. (NASDAQ: MU) was raised to Overweight from Equal Weight with an $18.00 price target (raised from $16.00 and versus a $14.07 close) at Morgan Stanley. The consensus price target is $20.72, and the 52-week range is $13.50 to $35.74.
Nike Inc. (NYSE: NKE) was reiterated as Buy at Jefferies, and the price target was raised to $150 from $145 (versus a $128.61 close). Nike has a consensus price target of $142.36 and a 52-week range of $90.69 to $135.30.
Oracle Corp. (NYSE: ORCL) was reiterated as Buy with a $50 price target after earnings. Despite comments and guidance being muted, Jefferies sees 2016 being a breakout year for Oracle. Canaccord Genuity reiterated its Buy rating and its $44 price target.
Pandora Media Inc. (NYSE: P) was reiterated as Buy with a $24.00 price target (versus a $13.44 close) at Canaccord Genuity. Pandora was last seen up 19% at $16.00 or so after the music copyright deal, with a prior consensus target of $18.76 and a 52-week range of $11.38 to $22.60.
Sunrun Inc. (NASDAQ: RUN) was raised to Overweight from Equal Weight and the price target is $16.00 (versus an $11.63 close, after a 22% gain on Wednesday) at KeyBanc Capital Markets. Sunrun was indicated up another 4% at $12.15, and it has a consensus price target of $17.80 and a 52-week range of $6.36 to $13.31.
United States Steel Corp. (NYSE: X) was downgraded to Sell from Hold and the price target was slashed to $5.00 from $13.00 (versus an $8.31 close) at Deutsche Bank. It has a consensus analyst price target of $12.88 and a 52-week range of $6.80 to $29.62.
Other key analyst upgrades, downgrades and initiations were seen in shares of the following on Thursday: