Top Analyst Upgrades and Downgrades: Alcoa, ADM, Citigroup, Gap, Kroger, Nike, Nucor, Rite Aid, Teva, Under Armour and More
Stocks were indicated to open higher again on Tuesday after strong gains on Monday. Investors should keep in mind that the major stock indexes still remain close to all-time highs. Another issue that cannot be ignored is that investors have kept finding new reasons to buy stocks after every sell-off, a trend that is over five years old in this eight-and-a-half year-old bull market. Many of those same investors are also looking for new investing and trading ideas to generate gains and income.
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 of the top analyst reports cover stocks to buy, while some calls 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 Tuesday, September 12, 2017.
Alcoa Corp. (NYSE: AA) was raised to Buy from Hold at Deutsche Bank. Shares closed up 2.3% at $43.60 on Monday and were indicated up 2.4% at $44.70 on Tuesday. Alcoa’s 52-week trading range is $20.53 to $45.22, and its consensus analyst target price is $44.33.
Archer Daniels Midland Co. (NYSE: ADM) was started with an Outperform rating and assigned a $50 target price (versus a $42.79 prior close) at Robert W. Baird. Its shares were indicated up about 1% at $43.20 in Tuesday’s early trading, in a 52-week range of $40.22 to $47.88 and with a consensus target price of $42.17.
Citigroup Inc. (NYSE: C) was raised to Hold from Sell at Soc-Gen. Citigroup closed up 2.3% at $67.71 on Monday but was flat on Tuesday. Citigroup’s consensus target price is $72.92 and its 52-week range is $45.16 to $69.86.
Gap Inc. (NYSE: GPS) was reiterated as Buy and the price target was raised to $39 from $35 (versus a $25.94 close) at Jefferies. The call is focusing on allocating capital toward growth and away from specialty and the market under-appreciating some positive pieces of the company. Gap shares have 52-week range of $21.02 to $30.74 and a consensus target price of $25.50.
Kroger Co. (NYSE: KR) was raised to Buy from Hold with a $25 price target (versus a $21.34 close) at Pivotal Research. Kroger has a consensus analyst target of $23.59, and it has a 52-week range of $20.41 to $36.44.
Nike Inc. (NYSE: NKE) was started as Outperform with a $69 price target (versus a $53.03 close) at Sanford Bernstein. It was indicated up 0.8% at $53.45 on Tuesday, and it has a 52-week range of $49.01 to $60.53 and a consensus target price of $61.32.
Nucor Corp. (NYSE: NUE) was downgraded to Equal Weight from Overweight at Morgan Stanley. Nucor closed down 1% at $53.97 on Monday and was indicated down another 0.9% at $53.46 on Tuesday.
Rite Aid Corp. (NYSE: RAD) was started with a Hold rating and assigned a $2.50 price target (versus a $2.49 close) at Loop Capital. The stock was indicated up 0.8% at $2.51 on Tuesday, but its 52-week range is $2.21 to $8.77, if you include its old buyout offer from before it shrunk itself after the merger failed. Rite Aid’s consensus target price is just $2.55.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was up 19% to $18.50 on Monday after announcing a new CEO. Jefferies maintained its Hold rating but lowered its price target to $21 from $26. Teva was indicated up another 7% at $19.88 on Tuesday, perhaps on a continued short squeeze. Its 52-week range is $15.22 to $52.66.
Under Armour Inc. (NYSE: UAA) was started with an Underperform rating and assigned a $14 price target (versus a $17.42 close) at Sanford Bernstein. It was indicated up about 0.5% at $17.50 on Tuesday, with a 52-week range of $15.92 to $40.14 and with a consensus target price of $20.02.
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Other key analyst calls were seen in the following: