Stocks were indicated lower on Wednesday after hitting higher highs. Maybe eight days of rallying is too much at one time and the Dow is now close enough to 21,000 that investors have been unable to ignore how much interest there has been in stocks. Even the notion that the bull market is almost eight years old has not deterred investors from wanting to buy every sell-off. Investors are also continuing to look for new and overlooked opportunities.
24/7 Wall St. reviews dozens of analyst reports each day of the week 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 to avoid. Many of the following analyst calls have been given some added color, and the consensus analyst price targets are from Thomson Reuters.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday, February 22, 2017:
Broadcom Ltd. (NASDAQ: AVGO) was started with a Buy rating and assigned a $240 price target (versus a $212.75 prior close) at MKM Partners. Broadcom has a 52-week trading range of $125.41 to $213.62 and a consensus analyst price target of $216.40.
Canadian Solar Inc. (NASDAQ: CSIQ) was downgraded to Neutral from Overweight with a $16 price target at JPMorgan. Shares closed up 8.8% at $15.36 on Tuesday but were indicated down 2.5% at $14.98 on Wednesday. Canadian Solar also has a 52-week range of $10.25 to $23.56 and a consensus target price of $15.21.
Goldman Sachs Group Inc. (NYSE: GS) was started with a Neutral rating and assigned a $250 price target (versus a $251.76 close) at Compass Point. Goldman Sachs has a 52-week range of 138.20 to $252.65 and a consensus analyst target price of $247.80.
TripAdvisor Inc. (NASDAQ: TRIP) was downgraded to Underperform from Market Perform and the price target was cut to $35 from $45 (versus a $46.84 close) at Cowen.
Wal-Mart Stores Inc. (NYSE: WMT) was raised to Buy from Neutral and the price objective was raised to $88 from $76 at Merrill Lynch. Its shares closed up 3% at $71.45 after earnings on Tuesday and were indicated up another 0.5% at $71.85 on Wednesday. The 52-week range is $62.72 to $75.19, and the consensus analyst target is $74.25.
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Other key analyst calls were seen in the following:
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