Investing

Top Analyst Upgrades and Downgrades: ADM, BlackRock, DexCom, Mallinckrodt, McDonald's, Philip Morris, Redfin and More

Stocks were indicated to open lower on Thursday, but the indexes remains very close to all-time highs. The trend that has prevailed during this eight-year bull market is that investors keep finding new reasons to buy stocks after every market sell-off. Those same investors also are 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 ideas and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other calls cover stocks to sell or to avoid.

Additional color and commentary has been added on some of these daily analyst calls. The 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 Thursday, September 28, 2017.

Archer Daniels Midland Co. (NYSE: ADM) was downgraded to Neutral from Buy at Citigroup. Shares closed down 1% at $43.05 on Wednesday and were indicated down almost 2% at $42.25 on Thursday. ADM has a 52-week trading range of $40.22 to $47.88 and has a consensus analyst target price of $42.77.

BlackRock Inc. (NYSE: BLK) was raised to the Conviction Buy list from Neutral at Goldman Sachs. The asset management giant was given a $500 price target, versus a $438.40 closing price, and its market cap is $71 billion. BlackRock has a consensus target price of $470.50 and a 52-week range of $336.84 to $442.84.

DexCom Inc. (NASDAQ: DXCM) saw its shares down over 25% around $49.50 on Thursday morning, after the FDA approved Abbott Laboratories’ rival glucose monitoring device for adults with diabetes to test blood sugar levels without the finger-prick. DexCom was downgraded to Market Perform from Outperform at Raymond James, but Wedbush Securities maintained its Outperform rating and $76 price target. JPMorgan cut its rating to Neutral from Overweight with a $71 price target.

Mallinckrodt PLC (NYSE: MNK) was started with a Buy rating and assigned a $55 price target (versus a $35.39 prior close) at Goldman Sachs. It was indicated up 3.5% at $36.64 after the news and has a consensus analyst target of closer to $59 and a 52-week range of $33.61 to $72.49.

McDonald’s Corp. (NYSE: MCD) was raised to Buy from Neutral with a $183 price target (versus a $154.05 close) at Longbow Research. The consensus target price is $171.21, and the 52-week range is $110.33 to $161.72.

Philip Morris International Inc. (NYSE: PM) was already rated as Buy but was added to the prized Conviction Buy list with a $135 price target (versus a $111.61 close) at Goldman Sachs. Its 52-week range is $86.78 to $123.55 and its consensus target price is $126.00.

Redfin Corp. (NASDAQ: RDFN) was started as Neutral with a $26 price target (versus a $25.24 close) at Piper Jaffray. Redfin has a post-IPO range of $15.82 to $33.49 and a consensus target price of $26.60.

24/7 Wall St. has identified 15 stocks with 10% dividend yields that may even have upside too.

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Other key analyst upgrades and downgrades were seen in the following:

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