Stocks were indicated higher on Friday morning, but the market finally took a much needed breather on Thursday after about two weeks of straight gains. Brexit, high valuations, a low VIX and political concerns just aren’t holding back the market. Investors keep proving that they want to buy their favorite stocks on pullbacks.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for its readers. Some of these 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 Friday morning:
Advanced Micro Devices Inc. (NASDAQ: AMD) was last seen trading up about 10% at $5.76 in Friday’s early post-earnings indications. Its prior 52-week high was $5.57. AMD was reiterated as Buy at Jefferies, and the target price was raised to $6.75 from $5.50. Credit Suisse has an Underperform rating but raised its price target to $5.50 from $3.50.
Alibaba Group Holding Ltd. (NYSE: BABA) was reiterated as Buy and the price target was raised to $101 from $86 (versus an $84.18 prior close) at Jefferies. The stock has a 52-week trading range of $57.20 to $86.42 and a consensus analyst price target of $96.56.
Boeing Co. (NYSE: BA) was reiterated as Buy with a $165 price target (versus a $133.53 close) at Jefferies. This is after Boeing recognized costs on the two remaining 787 test aircraft and took charges on the 747 and KC-46 tanker programs, for a total of $3.23 per share.
Pandora Media Inc. (NYSE: P) was downgraded to Underperform from Sector Weight at Pacific Crest. The stock closed at $12.00, down 2.8%, despite word that Liberty had once floated a potential buyout interest. The 52-week range is $7.10 to $22.60, and the consensus price target is $14.50.
Starbucks Corp. (NASDAQ: SBUX) was indicated down 1.4% at $56.81 after revenues were soft, but the stock was down over 3% shortly after the earnings report. It was maintained as Buy at Jefferies, but the price target was cut to $65 from $70. Credit Suisse maintained a Neutral rating but cut its target price to $58 from $61. Merrill Lynch maintained it at Buy, but the price target was cut to $67 from $68. Its 52-week range is $42.05 to $64.00.
Twitter Inc. (NYSE: TWTR) was downgraded to Market Perform from Outperform at Raymond James. Twitter closed at $18.39, and it has a consensus target price of $18.40 and a 52-week range of $13.73 to $36.67.
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Other top analyst upgrades and downgrades were seen as follows: