Top Analyst Upgrades and Downgrades: CenturyLink, International Paper, Kroger, On Deck Capital, Phillips 66, United Tech and More

Investing

Published: May 3, 2016 8:50 am

Last Updated: January 13, 2020 9:57 am

Stocks were selling off on Tuesday despite a slightly weaker dollar. Regardless of how a day or week goes, the trend that has prevailed of late is that investors keep buying the dips and sell-offs. That is even with a market that is trading at a premium valuation and with poor earnings growth.

24/7 Wall St. reviews dozens of analyst research reports each morning to find new investing and trading ideas. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or to avoid.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:

CenturyLink Inc. (NYSE: CTL) was downgraded to Market Perform from Outperform at Wells Fargo, and the firm cut the valuation range to $30 to $33 from $43 to $45 (versus a $31.48 prior close), noting that it was a fun run but long-term structural concerns exist. CenturyLink has a consensus analyst target price of $30.14 and a 52-week trading range of $21.94 to $36.20.

International Paper Co. (NYSE: IP) was downgraded to Hold from Buy and the price target was cut to $47 from $51 (versus a $43.46 close) at Jefferies. The firm thinks the fluff pulp area is oversupplied and that the acquisition likely will increase volatility. The consensus price target is $46.47, and the 52-week range is $32.50 to $54.00.