Despite a pre-Brexit vote rally on Monday, stocks were again higher on Tuesday with the expectation that Britain will remain in the European Union. The reasons seem to differ each and every time, but investors have bought every single market sell-off for years now. Even high stock market valuations are not driving investors away.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, while others feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:
Coeur Mining Inc. (NYSE: CDE) was started with a Sector Perform rating and was given a $9 price target (versus a $9.64 prior close) at RBC Capital Markets. It has a consensus analyst price target of $8.28 and a 52-week trading range of $1.62 to $9.78 (and that high was yesterday).
Laredo Petroleum Inc. (NYSE: LPI) was started with an Overweight rating and given a $14 price target (versus an $11.38 close) at Barclays. It has a consensus target price of $12.09 and a 52-week range of $3.90 to $14.39.
Marathon Oil Corp. (NYSE: MRO) was raised to Overweight from Equal Weight with a $21 price target (versus a $14.48 close) at Morgan Stanley. Credit Suisse already had an Outperform rating, but the firm raised its target to $18.50 from $18.00. The consensus price target is $16.04, and the 52-week range is $6.52 to $27.77.
Nike Inc. (NYSE: NKE) was maintained as Buy at Jefferies, but the price target was cut to $67 from $74. The firm said that it expects in-line results when Nike reports earnings next week, but the focus should be on the comments and an update to the 2017 outlook. The consensus price target is $70.46, and the 52-week range is $47.25 to $68.19.
Statoil ASA (NYSE: STO) was downgraded to Sell from Hold at Deutsche Bank. Shares closed at $16.64, and the consensus price target is $16.43. The 52-week range is $10.89 to $18.61.
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Other top analyst upgrades and downgrades were seen in the following: