Stocks were indicated marginally lower on Thursday morning but shares were off of their lows. Three major banks reported earnings that were generally deemed positive, but this is likely a lower-volume trading day as the markets are gearing up for a three-day weekend ahead of Good Friday. The bull market may be more than eight years old, but investors have shown for more than five years now that they will buy all market pullbacks. Those same investors are also still looking for new trading and investing ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for our readers. Some analyst reports cover stocks to buy, and some reports cover stocks to sell or stocks to avoid.
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, April 13, 2017:
Adobe Systems Inc. (NASDAQ: ADBE) was just started with a Buy rating at Stifel a day earlier, but now Guggenheim is also issuing a Buy rating, noting that the company could have an easier time beating expectations ahead. S&P even raised its corporate credit rating to A from A− on the same metrics. Adobe’s prior close was down 0.4% at $129.38, and shares were indicated up 0.6% at $130.20. Adobe has a 52-week trading range of $90.35 to $131.33, and the consensus analyst target price is $143.13.
ClubCorp Holdings Inc. (NYSE: MYCC) was down just over 10% at $13.85 after the company said it would no longer be trying to sell itself and with its CEO “retiring” as the strategic alternatives review failed to generate a buyer. Imperial Capital maintained an Outperform rating but cut its target to $17 from $21.
Oracle Corp. (NYSE: ORCL) was reiterated as Neutral with a $43 target price (versus a $44.18 prior close) at Wedbush, but it almost felt like a hint of an upgrade. Wedbush said that it is more inclined to be positive on Oracle than in recent years, based on a better IT demand environment and potential accretion from Oracle’s transition to cloud applications. Still, the firm has concerns that consensus expectations for 2018 revenues look too high, with a caveat that acquisitions could fill that gap.
Silver Wheaton Corp. (NYSE: SLW) was assumed with an Outperform rating at Credit Suisse, and the price target conversion from Canadian dollars implied upside of almost 21% to the firm’s target price. Credit Suisse is above-consensus but not the highest analyst target. Silver Wheaton’s U.S.-traded shares closed up 0.5% at $21.87 on Wednesday and were indicated up 0.6% at $22.00 on Thursday, in a 52-week range of $16.52 to $31.35. The consensus target price is $28.07.
Weatherford International PLC (NYSE: WFT) was downgraded to Neutral from Buy with a $7.25 price target (versus a $6.33 close) at Goldman Sachs. Weatherford has a 52-week range of $3.73 to $8.49 and a consensus price target of $7.63.
Yahoo! Inc. (NASDAQ: YHOO) was reiterated as Hold but the price target was raised to $46 from $41 (versus a $46.83 closing price) at Pivotal Research.
Other key analyst calls were seen in the following:
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