10 True Stock Winners Rising in a Down Market, Seeing Multiple Upgrades and Price Hikes After Earnings

Jon C. Ogg
Amazon: Up 2% for the week, up 22% YTD — long live the Death Star! Inc. (NASDAQ: AMZN) is everyone’s favorite stock at the moment. It beat earnings handily and is taking over America. Its shares were even up 2.87% at $1,429.95 on Friday despite the major equity sell-off. Its stock also hit an all-time high on Friday. Amazon was reiterated as Outperform and the price target was raised to $1,650 from $1,450 at Oppenheimer.

Other price target hikes came from Merrill Lynch ($1,650 from $1,460), Citigroup ($1,700 from $1,600), Cowen ($1,700 from $1,500), Deutsche Bank ($1,650 from $1,525) and Jefferies ($1,750 from $1,450). In more expanded coverage it seems there were more than a dozen calls, and some were outlined in detail about why their upside is so strong, and Wall Street is looking for Amazon to become an $800 billion powerhouse.

AT&T: Up 0.66% this week, still down 2.1% YTD — and dividends galore!

AT&T Inc. (NYSE: T) has been out of favor for so long that it almost feels weird when it receives multiple target hikes. The 10-year Treasury yield may be 2.85% now, but AT&T’s dividend yields over 5%. Numerous target hikes were seen this week, and AT&T’s strong week was even after its shares closed down 2.8% at $38.07 on Friday.

SunTrust Robinson Humphrey has a Hold rating, but it raised its price target to $40 from $36. Cowen also raised its target to $41 from $39. More positive calls were made as well, with Instinet (Buy) raising its target to $43 from $42 and Raymond James (Outperform) hiked its target to $44 from $40. AT&T’s 52-week trading range is $32.55 to $42.70.

Autoliv: Up 5% for the week, up 13.8% YTD

Autoliv Inc. (NYSE: ALV) may be overlooked by many momentum and growth investors due to its being in the field of automotive safety systems. It beat earnings expectation sand experienced multiple days of solid views into and after its report. Still, it gave back some big gains during Friday’s sell-off to close out the week at $144.61, after having been a $137 stock earlier in the week.

Mizuho has a Buy rating and raised its Autoliv target to $160 from $140, and Robert W. Baird raised its rating to Outperform and its target price to $192 from $137. JPMorgan has a Neutral rating, but it lifted its target to $147 from $138, and RBC Capital Markets has a Sector Perform rating and its target was raised to $142 from $126. Autoliv’s 52-week range is $96.08 to $152.57.

Boeing: Up 1.66% this week, up 18% YTD — dominating the friendly skies!

Boeing Co. (NYSE: BA) was the best Dow stock of 2017 and its strength has continued into 2018. Its stock was unable to escape the undertow of the Dow and S&P selloff on Friday, with a 2.2% drop to $348.81. Still, it was up for the week, and analysts are stepping all over themselves as Boeing is expected to increase jet production this year.

Some of the price target changes seen were Bernstein raising its target to $422 from $402, Credit Suisse raising its target to $443 from $375, and Merrill Lynch raising its target to $470 from $395. There were about 10 calls, and most have been featured in detail. Boeing’s 52-week range is $162.38 to $361.45.

Crane: Up 3.2% this week, up 8.9% YTD

Crane Co. (NYSE: CR) rose to over $102 after beating earnings and revising 2018 guidance, but a 2.3% slide on Friday had its shares close at $97.16. Even after selling down more than $5 from its peak, the stock was still up from the $94.09 prior week’s close.

Canaccord Genuity (Buy) raised its target price to $110 from $95. Oppenheimer (Outperform) raised its price target to $105 from $92, noting that earnings visibility into 2020 should trump any decelerating trends. Stifel was more aggressive as it raised its rating to Buy from Hold and the price target was raised all the way up to $113 from $99. Crane’s 52-week trading range is $70.56 to $102.65.

eBay: Up 8.3% this week, up over 17% YTD

eBay Inc. (NASDAQ: EBAY) had a much better week than its former partner PayPal. After beating earnings and outlining its 2018 outlook, eBay is not going to keep its future tied up to PayPal now that they are independent. Even a 4% drop to $44.30 on Friday did not kill eBay’s weekly gains.

RBC Capital Markets raised its rating to Outperform from Sector Perform and assigned a $51 price target. eBay was maintained as Neutral with a $46 price target at Wedbush Securities, and it was maintained as Hold at Stifel, though the firm raised its target to $41 from $37. 24/7 Wall St. outlined in detail how more than a half-dozen analysts now greatly favor eBay over PayPal. eBay shares have a 52-week range of $31.80 to $46.99.

Edwards Lifesciences: Up 2.8% this week, up 17% YTD

Edwards Lifesciences Corp. (NYSE: EW) was up 0.3% at $126.98 ahead of earnings and was indicated up about 1.5% at $129.00 after beating expectations, and Friday’s stock gain ended up 3.8% at $131.83 despite a massive stock market selling session. Edwards Lifesciences saw multiple positive ratings along with higher price targets: Jefferies (Buy, to $150 from $135), Stifel (Buy, to $155 from $130), Wells Fargo (Outperform, to $150 from $141) and Canaccord Genuity (Buy, to $174 from $140). Edwards Lifesciences now has a 52-week trading range of $86.55 to $128.61.