Stocks were indicated to open lower on Monday after hitting all-time highs last week. With the bull market now nearing nine years old, the one trend that has prevailed for more than five years now without fail is that investors keep finding new reasons to buy stocks after every market sell-off. Those same investors are also hunting for new investing and trading ideas to generate gains and income ahead.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for our readers. Some of these daily analyst reports and research notes cover stocks to buy, and others cover stocks to sell or to avoid.
Consensus analyst price target data and valuation metrics are from the Thomson Reuters sell-side research service. Additional color and commentary has been added on most of these daily analyst calls.
These were the top analyst upgrades, downgrades and other research calls from Monday, October 30, 2017.
Advanced Micro Devices Inc. (NASDAQ: AMD) was down 1.4% at $11.84 on Friday and was indicated down 4% at $11.35 on Monday, and AMD was up at $14.25 last week before earnings. The stock was downgraded to Underweight from Equal Weight with an $8 price target at Morgan Stanley. The shares have a 52-week trading range of $6.22 to $15.65, and the prior consensus analyst target price was $14.28.
Chevron Corp. (NYSE: CVX) closed down 4.1% at $113.54 on Friday after earnings. Chevron was reiterated as Buy with a $137 target price at Jefferies. The firm said that Friday’s 4% drop following its earnings release represents a buying opportunity in an oil giant poised for both significant production growth and a major inflection in its cash cycle. Chevron has a 52-week range of $102.55 to $120.89 and a consensus price target of $122.57.
General Motors Co. (NYSE: GM) was down 1.3% at $44.64 on Friday and was indicated down 3.3% at $43.16 on Monday. Goldman Sachs downgraded GM shares to Sell from Neutral with a $32 price target. The 52-week range is $30.21 to $46.76, and the consensus price target is $46.35.
Intel Corp. (NASDAQ: INTC) was raised to Outperform from Market Perform with a $58 price target (versus a $44.40 prior close) at BMO Capital Markets. This is after Intel saw numerous target hikes after beating and earnings and as shares broke out to new 17-year highs. Intel now has a 52-week range of $33.23 to $45.00 and a consensus price target of $44.74.
Merck & Co. Inc. (NYSE: MRK) was down 6% to $58.24 on Friday, and shares were indicated down another 3.6% at $56.12 on Keytruda weakness and downgrades. Merck was downgraded to Equal Weight from Overweight at Barclays, noting a lack of meaningful upside after Keytruda. SunTrust Robinson Humphrey downgraded Merck to Hold from Buy, and Morgan Stanley downgraded its rating to Equal Weight from Overweight. Merck had a prior 52-week range of $57.82 to $66.80, and it had a consensus price target of $69.35.
Nokia Corp. (NYSE: NOK) was up 3% at $4.91 on Friday, but that was after a 21% post-earnings drop to $4.76 on Thursday. Nokia was downgraded to Hold from Buy at Argus on Monday, with the firm noting worsening challenges ahead for Nokia. It has a 52-week range of $4.04 to $6.65 and had a consensus price target of $6.15.
Under Armour Inc. (NYSE: UAA) was downgraded to Underperform from Neutral and the price objective was slashed to $12 from $21 at Merrill Lynch. Shares were down 2% at $16.04 on Friday and were indicated down 4% more at $15.55 on Monday, in a 52-week range of $15.75 to $33.45 and with a consensus price target of $18.40.
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Other key analyst calls were seen as follows:
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