Stocks were indicated higher on Tuesday, and the Dow is now up over 20,000 again. Even though the bull market is nearing eight years old, investors keep finding new reasons to buy each and every sell-off. Investors also are looking for new and overlooked opportunities. The Dow has hit 20,000, and there is a path for DJIA 21,422 later in 2017 or in early 2018.
24/7 Wall St. reviews dozens of analyst 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 other reports cover stocks to sell or avoid.
Most of the following featured analyst calls include some color, and Thomson Reuters was used for consensus analyst price target data. These are the top analyst upgrades, downgrades and initiations seen on Tuesday, February 7, 2017:
Best Buy Co. Inc. (NYSE: BBY) was started as Underperform and assigned a $34 price target (versus a $43.96 prior closing price) at Bernstein. Best Buy has a 52-week trading range of $26.10 to $49.40 and a consensus analyst price target of $45.45.
Caterpillar Inc. (NYSE: CAT) was raised to Overweight from Equal Weight with a $110 price target (versus a $92.87 close) at Barclays. Caterpillar has a 52-week range of $60.51 to $99.46, with a consensus price target of $92.91.
Nokia Corp. (NYSE: NOK) was raised to Overweight from Equal Weight at Morgan Stanley. The target was in euros but indicated 25% upside when converting to dollars for the American depositary shares. Nokia closed down 1.7% at $4.75 on Monday and was indicated up almost 3% at $4.87 on Tuesday. Nokia has a 52-week range of $4.04 to $6.31 and a $5.58 consensus price target.
UnitedHealth Group Inc. (NYSE: UNH) was started as Overweight and assigned a $200 price target (versus a $160.51 prior close) at Cantor Fitzgerald. UnitedHealth has a 52-week range of $109.14 to $164.00 and a consensus price target of $184.14.
Wal-Mart Stores Inc. (NYSE: WMT) was started as Market Perform and assigned a $75 price target (versus a $66.40 prior close) at Bernstein. Wal-Mart Stores has a 52-week range of $62.35 to $75.19, and it has a $74.04 consensus analyst target.
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Other key analyst calls were seen in the following:
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