Top Analyst Upgrades and Downgrades: AIG, AT&T, Freeport-McMoRan, Halliburton, LendingClub, Range Resources, Salesforce, SecureWorks and More
Stocks were indicated lower on Tuesday after two solid days of gains. The trend that has remained is that investors keep proving that they are looking for opportunities and hidden gems. So far, they are more than willing to buy the big market dips.
24/7 Wall St. reviews dozens of analyst research reports each morning of the week. Our goal is to find new investing and trading ideas. Some of these analyst reports cover stocks to buy, and other reports feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:
American International Group Inc. (NYSE: AIG) was raised to Outperform from Market Perform at Wells Fargo. AIG has a consensus analyst price target of $63.67 and has a 52-week trading range of $50.20 to $64.93.
AT&T Inc. (NYSE: T) was reiterated as Buy and the price target was raised to $44 from $42 (versus a $39.28 prior close) at D.A. Davidson. Its consensus price target is $39.62, and the 52-week range is $30.97 to $39.72.
Freeport-McMoRan Inc. (NYSE: FCX) was raised to Buy from Hold and the price target was raised to $15.00 from $12.50 (versus an $11.04 close) at Jefferies, Accretive asset sales and entering a period of strong cash flows were cited. The consensus price target is $10.70. The 52-week range is $3.52 to $21.85.
Halliburton Co. (NYSE: HAL) was raised to Outperform from Market Perform and the price target was raised to $49 from $44 (versus a $40.18 close) at FBR Capital Markets. The consensus price target is $45.33. Shares have a 52-week range of $27.64 to $46.69.
LendingClub Corp. (NYSE: LC) is now being investigated, sending shares down 9% to $3.56 after Monday’s 12% gain. It was maintained as Sell but the price target was cut to $3 from $4 at Compass Point. The consensus analyst target is $8.77, and the 52-week range is $3.50 to $19.48.
Range Resources Corp. (NYSE: RRC) was raised to Outperform from Market Perform at Raymond James. Shares closed down 10% at $37.69, with a consensus price target of $43.32 and a 52-week range of $19.21 to $59.88.
Salesforce.com Inc. (NYSE: CRM) was reiterated as Hold but the price target was raised to $74 from $60 (versus a $77.31 close) at Jefferies, This is ahead of earnings, and the firm noted that it expects earnings to at least meet, but likely exceed, expectations this week. Still, Jefferies called the stock fairly valued. It has a consensus price target of $90.05 and a 52-week range of $52.60 to $82.90.
SecureWorks Corp. (NASDAQ: SCWX) saw its quiet period come to an end, shares rising 10.9% at $13.81, on Monday. The stock was started as Buy with a $17.50 target at Goldman Sachs. RBC started it as Outperform with a $16 target. Barclays started it as Overweight with a $16 target, and Citigroup and Credit Suisse both started it as Neutral. Pac-Crest and JPMorgan both started it as Overweight but with an $18 target, and Stifel gave it a Buy rating and $18 target.
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Other key analyst upgrades and downgraded were seen in the following companies on Tuesday: