Stocks, bonds, oil and gold all rose on Wednesday after the Federal Reserved delivered on the first of likely three rate hikes in 2017. Now stocks are indicated to open higher again on Thursday, with the Dow close to challenging 21,000 again. Investors know that the unrelenting bull market is eight years old. Despite it sometimes feeling long in the tooth, investors have bought up stocks on every single pullback. Those same investors also are looking for new trading and investing ideas.
24/7 Wall St. reviews dozens of analyst research 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 others cover stocks to sell or to avoid.
Some color has been added on many of the following calls, and the consensus analyst price targets referenced are from Thomson Reuters. These are the top analyst upgrades, downgrades and initiations seen on Thursday, March 16, 2017:
Biogen Inc. (NASDAQ: BIIB) was downgraded to Market Perform from Outperform at Leerink. Morgan Stanley downgraded it to Equal Weight from Overweight.
Goldcorp Inc. (NYSE: GG) was raised to Sector Perform from Underperform and the target price was raised to $17 from $15 (versus a $15.45 prior close) at RBC Capital Markets. Goldcorp has a 52-week trading range of $11.91 to $20.38 and a consensus analyst target price of $18.01.
GoPro Inc. (NASDAQ: GPRO) gave revenue guidance toward the upper end of its range for the first quarter, but in some ways the period is a throwaway quarter. Still, shares were indicated up 11% at $8.17 on Thursday. Wedbush maintained its Neutral rating and said that the second half of the year will be the true indicator of demand. Citigroup raised its rating to Neutral from Sell.
Oracle Corp. (NYSE: ORCL) was reiterated as Neutral but the price target was raised to $43 from $42 at Wedbush. JMP Securities raised Oracle to Market Perform from Underperform. Jefferies reiterated its Buy rating but raised its price target to $52 from $51. JPMorgan raised Oracle to Overweight from Neutral.
Sirius XM Holdings Inc. (NASDAQ: SIRI) was downgraded to Hold from Buy with a $5.50 price target (versus a $5.30 close) at Wunderlich. The 52-week range is $3.74 to $5.53, and the consensus target price is $5.18.
Tyson Foods Inc. (NYSE: TSN) was downgraded to Hold from Buy at Argus, with the call based on mounting legal issues from the SEC investigation of Tyson and other poultry producers for alleged manipulation of a chicken pricing index.
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Other key analyst calls were seen in the following:
Alarm.com Holdings Inc. (NASDAQ: ALRM) was reiterated at Buy and the price objective was raised to $39 from $37 (versus a $30.63 close) at Merrill Lynch. The firm noted that Alarm.com’s fourth-quarter results were solid, as subscription revenues grew 21% and EBITDA margins were up 350 basis points. Credit Suisse reiterated its Outperform rating and raised its 2017 estimates. Alarm.com shares were indicated up more than 9% at $33.60 on Thursday.
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