Stocks were marginally lower, but that is tracking Europe lower after U.S. markets were slammed lower on Friday. It is important to realize that it had been almost two months without a 1% daily change, and we need to consider that investors have found a reason to buy every sell-off and pullback. Still, valuations are high and the Federal Reserve keeps jawboning about more rate hikes. Investors remain opportunistic and are looking for new ideas to generate income or gains ahead.
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 analyst research reports cover stocks to buy, and some reports feature stocks to sell or to avoid.
These are the top analyst upgrades, downgrades and initiations seen on Monday morning:
Colgate-Palmolive Co. (NYSE: CL) was raised to Buy from Neutral with an $80 price target (versus a $70.86 prior close) at Merrill Lynch. It has a 52-week trading range of $61.37 to $75.38.
Gilead Sciences Inc. (NASDAQ: GILD) was started with a Buy rating and was given a $112 price target (versus a $78.05 close) at Berenberg. It was maintained as Buy with a $91 target at Jefferies, but that was just after an upgrade last week. The stock has a 52-week range of $76.67 to $113.31 and a consensus analyst price target of $105.24.
Navistar International Corp. (NYSE: NAV) was reiterated as Sector Perform but the price target was raised to $18 from $13 at RBC Capital Markets. The 52-week range is $5.78 to $23.45.
Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Underweight from Neutral with a $78 price target (versus a $76.11 close) at JPMorgan. It has a 52-week range of $58.24 to $78.48 and a consensus price target of $79.05.
Pandora Media Inc. (NYSE: P) was raised to Buy from Neutral with an $18 price target (versus a $13.62 close) at SunTrust Robinson Humphrey. The 52-week range is $7.10 to $22.60, and the consensus price target of $14.56.
Wal-Mart Stores Inc. (NYSE: WMT) was raised to Outperform from Market Perform and the price target was raised to $83 from $76 (versus a $70.30 close) at Cowen. Jefferies reiterated its Buy rating and $86 price target. Shares have traded in a 52-week range of $56.30 to $75.19 and have a consensus price target of $73.16.
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Other key analyst upgrades and downgrades were seen as follows: