After a down day when the Federal Reserve raised interest rates on Wednesday, the market rallied again yesterday, although it closed well off the morning highs. It appears the rally can push into January, as few portfolio managers and investors are inclined to take capital gains this year, especially short term, when it is looking like we could see some meaningful tax reform next year. Futures were trading higher again in the premarket, as the market is poised for another solid Trump rally week.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations.
Apache Corp. (NYSE: APA) was downgraded to Market Perform from Outperform at Wells Fargo. The 52-week trading range for the stock is $32.20 to $69, and the consensus price objective on Wall Street is $63.63. Shares closed above that level Thursday at $66.74.
Apple Inc. (NASDAQ: AAPL) is resumed with an Overweight rating at Piper Jaffray. The 52-week range is $89.47 to $118.69, while the consensus price target is $131.84. The shares closed Thursday at $115.82.
Automatic Data Processing Inc. (NYSE: ADP) is raised to Buy from Neutral at Goldman Sachs. In addition, the stock is added to the firm’s prestigious Conviction Buy list. The 52-week range is $76.65 to $95.25. The consensus price target is $93.40, but shares closed above that level on Thursday at $98.76.
Biogen Inc. (NASDAQ: BIIB) was started with a Neutral rating at Cantor Fitzgerald. The 52-week range is $223.02 to $333.65. The consensus price target is $340.07. The stock closed Thursday at $286.97.
FedEx Inc. (NYSE: FDX) is reiterated at Outperform at Cowen, and the firm raised its price target on the transportation leader to $240. That compares with a consensus price target of $201.86. The 52-week range is $119.71 to $201.57. The shares closed yesterday at $197.92.
First Data Inc. (NYSE: FDC) was started with an Overweight rating at Pacific Crest. The 52-week range is $8.37 to $16.82. The consensus price objective is $17.20. The stock closed Thursday at $14.25.
General Electric Co. (NYSE: GE) was raised to Outperform from Market Perform at Bernstein. The 52-week range for the industrial giant is $27.10 to $33. The consensus price objective is $33.31. The stock closed Thursday at $31.26.
Las Vegas Sands Corp. (NYSE: LVS) was started at Conviction Buy at Goldman Sachs. The 52-week range is $38.88 to $63.38. The consensus price target is $60.63. The stock closed yesterday at $56.19.
Royal Caribbean Cruises Ltd. (NYSE: RCL) was started at Neutral at Goldman Sachs. The 52-week range is $64.21 to $103.40. The consensus price target is posted at $92.72. The shares closed most recently at $85.54.
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Other key analysts upgrades and downgrades were seen in the following: