Top Analyst Upgrades and Downgrades: AK Steel, Allergan, ArcelorMittal, Symantec, Teck Resources, US Steel, Emerson, Hormel and More
Stocks may be at all-time highs, but a lack of catalysts has shares soft on Friday. Low interest rates and a lack of other asset classes offering a return keep pushing investors toward stocks. The bull market is now seven and a half years old. Regardless of the issues, investors keep proving that they will buy any market sell-off. It is also the case that investors are looking for new ideas to generate income or gains.
24/7 Wall St. reviews dozens of analyst research reports each morning of the week. The goal is to find new investing and trading ideas. Some of these analyst reports cover stocks to buy. Others feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Friday morning:
AK Steel Holding Corp. (NYSE: AKS) was downgraded to Underweight from Sector Weight with a $4 price target by KeyBanc Capital Markets. Shares closed most recently at $5.15, in 52-week trading range of $1.64 to $7.09. The consensus analyst price target is $5.75.
Allergan PLC (NYSE: AGN) was raised to Buy from Hold and the price target was raised to $318 from $246 (versus a $252.93 prior close) at Mizuho. It has a 52-week range of $195.50 to $322.68 and a consensus price target of $295.38.
ArcelorMittal (NYSE: MT) was raised to Neutral from Underweight at JPMorgan. The stock closed at $6.55, has a 52-week range of $2.93 to $8.44 and has a consensus price target of $7.86.
Symantec Corp. (NASDAQ: SYMC) was raised to Buy from Neutral with a $26.50 price target (versus a $23.11 close) at Citigroup. Jefferies reiterated a Hold rating and $20 target. Symantec has a 52-week range of $16.14 to $23.17 and a consensus price target of $23.60.
Teck Resources Ltd. (NYSE: TCK) was started with a Sell rating and given a lower price target of $10 (versus a $16.50 close) at Berenberg. The consensus price target is $14.69, and the 52-week range is $2.56 to $16.94.
United States Steel Corp. (NYSE: X) was downgraded to Underweight from Sector Weight with a $18 price target at KeyBanc Capital Markets. Shares closed at $21.81. The stock has a consensus target price of $21.73 and a 52-week range of $6.15 to $27.64.
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Other key analyst upgrades and downgrades were seen as follows: