Stocks set yet another record on the Dow and S&P on Thursday as tax reform looked closer, but some last-minute changes and forecasts have set uncertainty in on Friday morning. Stocks were swinging around the tax “yes/no” headlines on Friday. It is important to understand that the primary trend that has continued to prevail for more than five years is for investors to buy all the big market sell-offs. Many investors are also on the hunt 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 at least some of those new investing and trading ideas for investors and traders alike. Some of these analyst reports and research notes cover stocks to buy. Other reports cover stocks to sell or to avoid.
Additional color and commentary has been added on most of these daily analyst calls. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Friday, December 1, 2017.
AT&T Inc. (NYSE: T) was maintained as Buy at Jefferies with a $48 price target, almost 33% higher than the last closing price of $36.38. The call is on the heels of hosting meetings with AT&T management over video transition, wireless competition and strategy, 5G, FirstNet and tax reform. AT&T has a 52-week trading range of $32.55 to $43.03 and a consensus analyst price target of $39.40.
E*Trade Financial Corp. (NASDAQ: ETFC) was started with an Outperform rating and assigned a $56 price target (versus a $48.14 prior close) at Credit Suisse. The firm forecast significant upside potential to 2019 sell-side earnings, and the firm thinks it has an implied option because if numbers are weak it would become an M&A target. E*Trade shares have a 52-week range of $32.25 to $48.72 and a consensus price target of $48.94.
PG&E Corp. (NYSE: PCG) was downgraded to Neutral from Buy with a $55 price target (versus a $54.24 close) at Mizuho. It has a 52-week range of $49.83 to $71.57 and a consensus price target of $65.08.
Plug Power Inc. (NASDAQ: PLUG) was started with a Buy rating and assigned a $5 target price at Canaccord Genuity, which implies more than 100% upside from the $2.37 prior close. The shares were indicated up over 8% at $2.57 on Friday morning, and the 52-week range is $0.83 to $3.21. The consensus target price was last seen at $3.09 prior to this call.
Priceline Group Inc. (NASDAQ: PCLN) was downgraded to Hold from Buy at Argus. Shares closed at $1,739.71 on Thursday but were down 0.3% on Friday. The 52-week range is $1,459.49 to $2,067.99, and the consensus price target was $1,996.38.
Tiffany & Co. (NYSE: TIF) was raised to Overweight from Sector Weight and given a $115 price target (versus a $94.50 close) at KeyBanc Capital Markets. Tiffany shares have a 52-week range of $76.08 to $97.29. The consensus price target is $97.89.
VMWare Inc. (NYSE: VMW) was raised to Outperform from Market Perform with a $142 price target (versus a $120.11 close) at BMO Capital Markets. Maxim raised its target to $123 from $113, while Stifel raised its target to $152 from $150. VMware shares were indicated up 1.8% at $122.30 after beating earnings estimates, in a 52-week range of $76.81 to $127.60 and with a consensus price target of $121.35.
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Other key analyst calls were seen as follows: