Stocks were indicated higher on Monday after last week’s 1% drop in the Dow, but the market is still barely hanging positive so far for the year. Now that the market recovery has negated the selling pressure of the first six weeks of 2016, investors have to decide whether they should be buying the dips or selling into the rallies.
24/7 Wall St. reviews dozens of analyst research reports each morning of the week. Our aim is to find new investing and trading ideas for our readers. Some of these daily analyst reports cover stocks to buy, and other reports cover stocks to sell or to avoid.
These are the top analyst upgrades, downgrades and initiations seen on this Monday morning:
Alphabet Inc. (NASDAQ: GOOGL) was raised to Buy from Hold and the price target was raised to $970 from $800 (versus a $759.47 prior close) at Pivotal Research. The consensus analyst price target is $926.80, and the 52-week trading range is $529.00 to $810.35.
Exelon Corp. (NYSE: EXC) was started as Neutral with a price target of $37 (versus a $34.70 close) at Goldman Sachs. Exelon has a consensus price target of $35.68 and a 52-week range of $25.09 to $35.95.
Kinross Gold Corp. (NYSE: KGC) was raised to Outperform from Sector Perform with a $4.75 price target (versus a $3.91 close) at RBC Capital Markets. The consensus price target is $3.71. The 52-week range is $1.31 to $3.96.
Noble Corp. PLC (NYSE: NE) was downgraded to Hold from Buy with an $11 price target (versus a $9.56 close) at Societe Generale. It has a consensus price target of $9.58 and a 52-week range of $6.66 to $18.58.
Potash Corp. of Saskatchewan Inc. (NYSE: POT) was downgraded to Hold from Buy at HSBC. The consensus price target is $17.81, and shares trade in a 52-week range of $14.64 to $33.80.
Seagate Technology PLC (NASDAQ: STX) was started as Market Perform with a $36 price target (versus a $33.23 close) at Cowen. The consensus price target is $36.22, and the 52-week range is $26.25 to $60.09. Seagate was indicated 3% higher on Monday after Barron’s touted it as having an enticing 7.5% dividend yield.
Western Digital Corp. (NYSE: WDC) was started as Market Perform with a $46 price target (versus a $43.10 close) at Cowen. The stock has a consensus price target of $70.90 and a 52-week trading range of $38.64 to $102.07.
You can follow @Jonogg to get the daily analyst calls and market reports directly on your Twitter feed.
Other key analyst upgrades and downgrades were seen on Monday in shares of the following: