Top Analyst Upgrades and Downgrades: AK Steel, Altice USA, Biogen, Caterpillar, Gilead, Oracle and Many More
Stocks have recently hit all-time highs again, but the stock indexes seem to have gone sideways in recent days and they were looking for direction on a slow news Friday. The bull market is more than eight years old now, but equity investors keep proving that they will buy into any major pullback or sell-off. 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 of the week. Our goal is to find new investing and trading ideas for our readers. Some of these 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 Friday, June 23, 2017.
AK Steel Corp. (NYSE: AKS) was raised to Buy from Hold at Deutsche Bank. It closed up 1.8% at $6.30 on Thursday and was indicated to open up another 3% higher at $6.50 on Friday morning. The stock has a 52-week trading range of $3.87 to $11.39 and a consensus analyst price target of $8.47.
Altice USA Inc. (NYSE: ATUS) was started with a Buy rating and assigned a $38 target price at Pivotal Research. The firm was not an underwriter in the IPO held just one day ahead of the call, so it is not subject to quiet period analyst coverage blackouts. Altice USA priced at $30 per share and closed up 9% at $32.71 on its debut, with 31 million shares trading hands.
Biogen Inc. (NASDAQ: BIIB) was started with a Buy rating and assigned a $315 price target at Deutsche Bank. Biogen closed up 0.7% at $280.57 on Thursday and was indicated up another 1.1% at $283.70 on Friday morning. It has a 52-week range of $223.02 to $333.65 and a consensus price target of $318.60.
Caterpillar Inc. (NYSE: CAT) was downgraded to Hold from Buy at Deutsche Bank. The firm’s own earnings estimates are already above Wall Street consensus estimates, and it believes that all forward recovery and turnaround value is already fully reflected in the share price. Shares closed up 0.36% at $103.84 on Thursday and were indicated down 1% at $102.78 on Friday morning. Caterpillar has a 52-week range of $70.53 to $108.18 and a consensus price target of $107.07.
Gilead Sciences Inc. (NASDAQ: GILD) was started with a Buy rating and was given a $79 price target at Deutsche Bank. The stock has bounced over the past two days and closed up 4.4% at $70.48 on Thursday. It was indicated up almost 1% more early Friday. The 52-week range is $63.76 to $88.85, and the consensus price target is $77.66.
Oracle Corp. (NYSE: ORCL) posted a Thursday breakout to the upside with an 8.6% gain to $50.30 after great earnings and guidance. Many analysts upgraded ratings and targets on Thursday. Now Argus has raised its rating to Buy from Hold and has assigned a $61 target price on Oracle shares. The 52-week range is $37.62 to $51.85.
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Other key analyst calls were seen in the following: