Stocks were looking for direction on Monday. Despite the Dow having crossed 22,000 for the first time, we are now more than a week with days of gains, and this is happening during what is supposed to be a bad month for the markets historically. Even with the bull market eight years old now, the common theme that has ruled is that investors keep finding new reasons to buy stocks after every sell-off. Those same investors are also searching for new investing and trading ideas.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy and some cover stocks to sell or to avoid.
Additional color and commentary has been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Monday, August 7, 2017.
BlackBerry Ltd. (NASDAQ: BBRY) was started with a Sell rating and assigned an $8.50 price target (versus a $9.44 prior close) at Goldman Sachs. It has a 52-week trading range of $6.65 to $11.74 and a consensus analyst price target of $9.60.
BP PLC (NYSE: BP) was raised to Overweight from Neutral with a $42 price target (versus a $36.33 close) at Piper Jaffray. The American depositary shares have a 52-week range of $32.53 to $38.68 and a consensus price target of $38.29.
Camping World Holdings Inc. (NYSE: CWH) was started with a Buy rating and the price target was set at $40 (versus a $31.98 close) at Monness Crespi & Hardt. Camping World has a 52-week range of $20.45 to $36.60 and has a consensus price target of $36.00.
Deere & Co. (NYSE: DE) was already rated as Buy at Goldman Sachs, but the firm added the stock to the prized Conviction Buy list with a $165 price target (versus a $129.75 close). Deere has a 52-week range of $76.73 to $129.95 and a consensus price target of $132.17. Its shares were indicated up 0.65% at $130.60, which would be a new all-time high for the stock.
GrubHub Inc. (NYSE: GRUB) was raised to Overweight from Equal Weight and the price target was raised to $59 from $43 (versus a $52.62 close) at Morgan Stanley. It has a 52-week range of $32.43 to $53.36 and a consensus analyst target of $49.95. Shares were up 9% on Friday and were indicated up another 2.4% at $53.89 on Monday morning.
KLA-Tencor Corp. (NASDAQ: KLAC) was raised to Buy from Hold with a $106 price target (versus an $88.83 close) at Stifel. KLA-Tencor has a 52-week range of $66.88 to $109.59 and a consensus price target of $104.77.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Underweight from Equal Weight with a $16 price target at Morgan Stanley. Shares closed down 13% at $20.60 on Friday and hit a multiyear low of $20.51. To show how bad things are here, the 52-week high is $55.39.
Zions Bancorp. (NASDAQ: ZION) was downgraded to Underperform from Neutral with a $43 price target (versus a $46.12 close) at Robert W. Baird.
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Other key analyst calls were seen in the following: