Top Analyst Upgrades and Downgrades: AMD, ConocoPhillips, Etsy, Marathon Oil, Square, Disney, Windstream and More
Stocks were indicated to open lower on Wednesday, but this is after many days of gains and with equity indexes close to their highs. The bull market is now more than eight years old, and investors have proven over and over that they will buy every single pullback. Those same investors are also 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 of these analyst reports cover stocks to buy and others cover stocks to sell or to avoid.
Some additional color and commentary has been added on most of the following analyst calls, and the consensus sell-side analyst price targets are taken from Thomson Reuters.
These were the top analyst upgrades, downgrades and other research calls on Wednesday, May 17, 2017.
Advanced Micro Devices Inc. (NASDAQ: AMD) was downgraded to Hold from Buy at Loop Capital. Shares closed up 11.6% at $12.75 on Tuesday but were indicated down over 6% at $11.90 on Wednesday. AMD has a 52-week trading range of $3.69 to $15.55 and a consensus analyst price target of $12.62.
ConocoPhillips (NYSE: COP) was raised to Buy from Hold and the price target was raised to $59 from $55 (versus a prior closing price of $47.13) at Jefferies. ConocoPhillips has a 52-week range of $38.80 to $53.17 and a consensus target price of $59.84.
Etsy Inc. (NASDAQ: ETSY) was maintained as Neutral with a $9 price target (versus a $13.73 close) at Wedbush Securities. This was even as the report noted that a buyout is the most likely scenario. Etsy also was downgraded to Hold from Buy at Loop Capital. Maxim Group has a Buy rating but raised its target to $17 from $13. This is as the company is likely seeking a buyer amid strategic alternatives.
Marathon Oil Corp. (NYSE: MRO) was downgraded to Hold from Buy at Jefferies. Marathon closed down 0.76% at $14.43 on Tuesday and was indicated down another 0.5% at $14.35 on Wednesday. The 52-week range is $12.11 to $19.28, and the consensus price target is $19.93.
Square Inc. (NYSE: SQ) was downgraded to Neutral from Buy at BTIG. Stifel has a Buy rating and raised its rating to $23 from $21. Square closed up 0.4% at $20.34 on Tuesday and was indicated down almost 2% at $20.00 on Wednesday. The 52-week range is $8.42 to $20.69, and the consensus analyst price is $20.10.
Walt Disney Co. (NYSE: DIS) was downgraded to Neutral from Outperform with a $105 price target at Macquarie. Disney has a 52-week range of $90.32 to $116.10 and a consensus price target of $118.79. Shares closed down 1% at $107.98 on Tuesday and were indicated down almost 2% at $105.90 on Wednesday.
Windstream Holdings Inc. (NASDAQ: WIN) was down 2.5% at $4.34 on Tuesday but was indicated marginally higher on Wednesday and is likely held back by negative futures trading in the broader markets. The stock was raised to Outperform from Underperform with a $5.25 price target at Raymond James. Windstream has a 52-week range of $4.28 to $10.46 and a consensus target price of $6.41.
Warren Buffett’s top stock holdings contained massive changes as his portfolio for Berkshire Hathaway has now risen to some $161 billion.
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Other key analyst calls were seen in the following: