Top Analyst Upgrades and Downgrades: Ally Financial, Citigroup, Devon, JPMorgan Chase, Restoration Hardware and More
Stocks were indicated to open marginally higher on Monday and the indexes stand close to challenging all-time highs. The bull market is more than eight years old, and investors keep showing that every big sell-off has been met with serious buying. Those same investors are also searching for new investing ideas and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing ideas and trading ideas for our readers. Some of these analyst reports cover stocks to buy. Other analyst reports cover stocks to sell or stocks 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 Monday, July 17, 2017.
Ally Financial Inc. (NYSE: ALLY) was downgraded to Underweight from Equal Weight with a $20 price target (versus $21.46 close) at Stephens. Ally Financial has a 52-week range of $16.68 to $23.62 and has a consensus analyst target price of $24.82.
Altice-USA, Inc. (NYSE: ATUS) has seen its quiet period come to an end and its last close of $31.79 is within a post-IPO range of $30.66 to $35.29. Barclays started Altice-USA with an Equal Weight rating and $32 target, and Morgan Stanley started it with a Equal Weight rating and $31 target. JPMorgan started it with an Overweight rating and $39 target. Citigroup started Altice-USA with a Buy rating and a $44 target price.
CACI International Inc. (NYSE: CACI) was started with a Buy rating and was given a $154 target price (versus $128.30 close) at Jefferies.
Citigroup, Inc. (NYSE: C) was reiterated as Outperform and the price target was raised to $72 from $64 at Credit Suisse. The firm liked its better than expected earnings and better than expected capital return approval. Argus maintained its Hold rating.
Devon Energy Corporation (NYSE: DVN) was started with a Neutral rating and was assigned a $48 price target at Piper Jaffray. Devon was up 1.4% to $31.65 on Friday and was indicated up 2% at $32.27 on Monday. Devon has a 52-week range of $28.79 to $50.69 and has a consensus analyst target price of $46.08.
First Cash Financial Services, Inc. (NYSE: FCFS) was downgraded to Neutral from Buy at Janney, noting that its fair value estimate of $58 has been reached. At $58.55, its 52-week range is $39.80 to $59.35.
JPMorgan Chase & Co. (NYSE: JPM) was reiterated as Outperform and the price target was raised to $103 from $102 at Credit Suisse. The firm noted that strong execution was seen across the banking franchise with earnings.
Restoration Hardware (NYSE: RH) was started with an Underperform rating and was assigned a downside price objective of $54 (versus $66.00 close after a 6% drop on Friday) at BofA Merrill Lynch. Restoration Hardware was indicated down 2.2% more at $64.51 and it has a 52-week range of $24.41 to $71.40.
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Friday’s top analyst calls were in shares of Alphabet, Boeing, CyberArk, Eiger BioPharma, Hewlett Packard Enterprise, Snap, Ulta, Walmart and a dozen more companies.