Top Analyst Upgrades and Downgrades: Adobe, Apple, Bristol-Myers, Citigroup, Ford, Groupon, Phillips 66, United Rentals and More
Stocks were indicated to open higher on Monday, and investors understand that the Dow, S&P and Nasdaq are all fighting for all-time highs again. The trend that has ruled without fail for more than five years of this eight-and-a-half-year-old bull market is that investors keep finding new reasons to buy stocks after every market sell-off. Investors are also hunting for new investing and trading ideas with their capital.
24/7 Wall St. reviews dozens of analyst research reports each day. Our goal is to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy, while other calls cover stocks to sell or to avoid.
The consensus analyst price target data and valuation metrics are from the Thomson Reuters sell-side research service. Additional color and commentary has also been added on most of these daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Monday, October 16, 2017.
Adobe Systems Inc. (NASDAQ: ADBE) was downgraded to Hold from Buy with a $160 price target (versus a $153.93 prior close) at Deutsche Bank. Adobe has a 52-week trading range of $98.00 to $157.89 and a consensus analyst price target of $164.30.
Apple Inc. (NASDAQ: AAPL) was raised to Overweight from Sector Weight with a $187 price target (versus a $173.75 close) at KeyBanc Capital Markets. Apple has a 52-week range of $104.08 to $164.94 and a consensus price target of $173.75.
Bristol-Myers Squibb Co. (NYSE: BMY) was downgraded to Hold from Buy and the price target was cut to $71 from $72 (versus a $65.29 close) at Jefferies. Bristol-Myers has a 52-week range of $46.01 to $66.10 and a consensus price target of $59.86.
Citigroup Inc. (NYSE: C) was downgraded to Sell at Hold with a $65 price target (versus a $72.11 close) at Societe Generale. Citigroup has a 52-week range of $47.70 to $76.14 and a consensus price target of $76.23.
Ford Motor Co. (NYSE: F) was downgraded to Sector Perform from Outperform with a $13 price target (versus a $12.05 close) at RBC Capital Markets. Ford has a 52-week range of $10.47 to $13.27 and a consensus price target of $11.91.
Groupon Inc. (NASDAQ: GRPN) was raised to Market Perform from Underperform at Cowen. It has a 52-week range of $2.90 to $5.38 and a consensus price target of $4.46.
Phillips 66 (NYSE: PSX) was downgraded to Underperform from Hold at Jefferies. Phillips 66 has a 52-week range of $75.14 to $95.00 and a consensus price target of $92.81.
United Rentals Inc. (NYSE: URI) was reiterated as Buy and the price target was raised to $165 from $150 (versus a $144.21 close) at Jefferies. The 52-week range is $70.58 to $145.56, and the consensus price target is $136.46.
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Other top analyst calls were seen as follows: