Stocks hit all-time highs yet again on Monday and the Dow has now gone above the 24/7 Wall St. 2017 price target issued at the start of this year. The bull market may be well over eight years old now, but investors keep proving that any pullback or any period of economic uncertainty has been a buying opportunity. Those same investors are also looking for new investing and trading ideas for income and gains.
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.
Consensus analyst price target data are from the Thomson Reuters sell-side research service. Additional color and commentary has also been added on most of the daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Tuesday, June 20, 2017.
American Express Co. (NYSE: AXP) was raised to Equal Weight from Underweight with an $82 price target at Stephens. The stock closed up 0.5% at $81.88 on Monday and was indicated up 0.15% at $82.00 on Tuesday. Amex has a 52-week trading range of $57.15 to $82.00.
Automatic Data Processing Inc. (NASDAQ: ADP) was downgraded to Neutral from Buy and was removed from the Conviction Buy list with a price target of $108 (versus a $104.11 prior close) at Goldman Sachs. ADP was indicated to open down 1.5% at $102.51, in a 52-week range of $85.23 to $105.68.
Goodyear Tire & Rubber Co. (NYSE: GT) was raised to Buy from Hold with a $39 price target at Jefferies. Goodyear closed at $33.63 on Monday and was indicated up 1.1% at $34.00 on Tuesday. Its 52-week range is $24.31 to $37.20 and the consensus analyst target price was up at $41.50.
McDonald’s Corp. (NYSE: MCD) was raised to Outperform from Market Perform with a $180 price target at Cowen. It closed up 0.7% at $153.14 on Monday and was indicated up another 0.5% at $154.00 on Tuesday. The 52-week range is $110.33 to $153.90, and the consensus target price is $155.08.
National Oilwell Varco Inc. (NYSE: NOV) was raised to Overweight from Neutral with a $37 price target (versus a $33.58 close) at Piper Jaffray. This is a call that goes against the oil price trend, and the shares were indicated to open down 1.1% at $33.20 on Tuesday along with lower oil prices. The 52-week trading range is $29.79 to $43.63, and the consensus target price is $38.05.
NVIDIA Corp. (NASDAQ: NVDA) was raised to Sector Weight from Underweight at Pacific Crest. It closed up 3.7% at $157.32 on Monday and was indicated up 0.8% more at $158.60 on Tuesday. The shares have a 52-week range of $44.57 to $168.50 and a consensus target price of $131.34.
Vivint Solar Inc. (NASDAQ: VSLR) was raised to Buy from Neutral with a $6 target price at Goldman Sachs. Shares closed up over 8% at $4.35 on Monday and were indicated up another 8% more at $4.70 on Tuesday. Vivint Solar had a consensus target price of $5.17. This will mark a new 52-week high, as the new 52-week range was $2.50 to $4.35 as of the prior trading day.
Credit Suisse said that its proprietary price tracker shows an industry pricing that has been volatile so far in 2017, and it favors Nike Inc. (NYSE: NKE) over Finish Line and Foot Locker.
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Other key analyst calls were seen in the following:
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