Stocks were indicated lower again on Tuesday after a major sell-off on the first trading day of the year. While a drop Monday of up to 400 points in the Dow at one point is being followed up with nearly a 100-point drop on Tuesday, the reality is that the trend that has prevailed for over four years now is that investors have bought up the pullbacks.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new investing and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or avoid.
These are the top analyst calls for Tuesday, January 5, 2016.
Anadarko Petroleum Corp. (NYSE: APC) was raised to Buy from Neutral at Citigroup. Shares closed Monday at $49.13. The consensus analyst price target is close to $78.00, and the 52-week trading range is $44.50 to $95.94.
Computer Sciences Corp. (NYSE: CSC) was downgraded to Equal Weight from Overweight at Barclays, and the firm cut its price target to $35. The stock was last seen close to $31.39, with a consensus price target of $38.63 and a 52-week range of $24.77 to $33.66.
E.I. du Pont de Nemours & Co. (NYSE: DD) was downgraded to Neutral from Buy at Citigroup. DuPont closed most recently at $63.07, and it has a consensus price target of $72.07 and a 52-week range of $47.11 to $76.59.
First Solar Inc. (NASDAQ: FSLR) was raised to Buy from Neutral at Goldman Sachs, with a $100 price target (versus a $66.72 prior close). First Solar was indicated up 4% at $69.60 early Tuesday. Its consensus target was about $67.50 and its 52-week range is $39.18 to $67.80.
Halliburton Co. (NYSE: HAL) was raised to Overweight from Sector Weight with a $40 price target at KeyBanc Capital Markets. Halliburton closed at $34.48, has a consensus target of $46.26 and has a 52-week range of $30.93 to $50.20.
Mattel Inc. (NASDAQ: MAT) was reiterated as Buy at Jefferies, and the firm’s price target was raised to $30 from $27 (versus a $27.43 close). Jefferies sees the downside priced into Mattel after conducting its dividend analysis showing that the payout is now twice its target.
Priceline Group Inc. (NASDAQ: PCLN) was downgraded to Outperform from Strong Buy at Raymond James, and the firm lowered its price target to $1,350 from $1,550 (versus a $1,245.36 close). The consensus target is almost $1,500, and the 52-week range is $990.69 to $1476.52.
Starbucks Corp. (NASDAQ: SBUX) was reiterated as Buy at Jefferies, but the firm’s price target was raised to $70 from $66. It was also listed as a Goldman Sachs top stock for 2016 in recent analyst coverage. Starbucks closed down 2.9% at $58.26 on Monday, with a $68.09 consensus price target and a 52-week range of $39.28 to $64.00.
Of the many analyst calls seen on Tuesday, some of the other key analyst upgrades, downgrades and initiations were in the following: