Top Analyst Upgrades and Downgrades: Amazon, Biogen, Costco, Kroger, Travelers, Wayfair and Many More
Stocks were indicated to open higher on Monday, with the Dow closing on our original 2017 price target. The bull market is now over eight years old. Every instance of concern, panic and market selling has managed to be bought up by investors for more than five years, and that has only proven even more true in 2017. Investors are also hunting for new investing and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy. Other reports cover stocks to sell or to avoid.
The consensus analyst price targets are from the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of the daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Monday, June 19, 2017.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Outperform with a $1250 price target at Wedbush Securities, with he firm noting that Whole Foods is a healthy option to accelerate growth. Amazon closed up 2.4% at $987.71 on Friday and was indicated up 0.8% at $996.00 on Monday. It has a 52-week trading range of $682.12 to $1016.50 and a consensus analyst price target of $1110.84.
Biogen Inc. (NASDAQ: BIIB) was raised to Neutral from Sell with a $270 price target (versus a $251.74 close) at UBS. Biogen has a 52-week range of $223.02 to $333.65 and a consensus price target of $318.59.
Costco Wholesale Corp. (NASDAQ: COST) was downgraded to Hold from Buy at Deutsche Bank. Shares closed down 7.2% at $167.11 on Friday, in a 52-week range of $142.11 to $183.18. The consensus target price is $186.49.
Kroger Co. (NYSE: KR) was downgraded to Equal Weight from Overweight at Morgan Stanley. Argus decided to maintain its Buy rating, with the stock being oversold after guidance, but the firm lowered its target price to $30 from $40.
Travelers Companies Inc. (NYSE: TRV) was downgraded to Neutral from Buy at Merrill Lynch. It closed at $129.44, and it has a consensus analyst target of $120.62. The 52-week range is $103.45 to $129.60.
MercadoLibre Inc. (NASDAQ: MELI) was raised to Buy from Hold at Citigroup. After closing at $263.45, MercadoLibre has a 52-week range of $126.10 to $297.95, and its consensus price target is $264.84.
Wayfair Inc. (NYSE: W) was downgraded to Hold from Buy (versus a $76.17 prior close) at Maxim Group. Wayfair has a 52-week range of $27.60 to $76.54 and a consensus target price of $68.81.
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Other key analyst calls were seen in the following: