Investing

Top Analyst Upgrades and Downgrades: Chevron, Exxon, Micron, Microsoft, Weatherford and Many More

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Investors got a harsh reminder on Monday that market volatility and panic selling can resume. There was forced selling into Tuesday’s opening bell, and the markets have now lost all of January’s sharp gains. This bull market is almost nine years old, and it had been about two years since there was even a 5% sell-off. Now it hit a 10% sell-off at the worst point on Monday.

What investors cannot forget is that the one trend that has proven itself was for investors to buy the dips and sell-offs. One day that won’t work out well, but that is what has worked for over five years. Investors are also still looking at how they should position their portfolios for this year and beyond into rising interest rates, tax reform, accelerated earnings and stronger GDP growth. The sell-off did not change expectations for those fundamentals.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new ideas for investors and traders alike. Some of these analyst reports and research reports cover stocks to buy. Other reports cover stocks to sell or to avoid.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, February 6, 2018.

Activision Blizzard Inc. (NASDAQ: ATVI) closed down 4.8% at $67.98 on Monday and was indicated down another 3% at $65.95 on Tuesday. Merrill Lynch reiterated its Buy rating and raised its price objective to $77.

Chevron Corp. (NYSE: CVX) was raised to Overweight from Equal Weight and the price target was raised to $135 from $130 at Barclays.

Exxon Mobil Corp. (NYSE: XOM) was downgraded to Underweight from Overweight and the price target was cut to $84 from $91 at Barclays.

Industrial Logistics Property Trust (NASDAQ: ILPT) was started with a Buy rating and assigned a $25 price objective at Merrill Lynch.

Ingersoll-Rand PLC (NYSE: IR) was reiterated as Buy and the price target was raised to $105 at Argus.

Liberty Oilfield Services Inc. (NYSE: LBRT) has seen its quiet period end and coverage is launched after a 2% drop to $20.47 on Monday. Goldman Sachs issued a Buy rating and $34 target. Wells Fargo and Evercore ISI both started it as Outperform. Morgan Stanley started Liberty Oilfield Services as Overweight and assigned a $27 target.

Lockheed Martin Corp. (NYSE: LMT) was reiterated as Buy and the target price was raised to $385 at Argus.

Micron Technology Inc. (NASDAQ: MU) was raised to Strong Buy from Buy at Needham. KeyBanc raised Micron to Overweight from Sector Weight with a $53 price target.

Microsoft Corp. (NASDAQ: MSFT) was reiterated as Buy and the price target was raised to $107 (versus an $88.00 prior close) at Argus.

Mobile Mini Inc. (NASDAQ: MINI) was reiterated as Outperform and its price target was raised to $45 from $36 at Oppenheimer.

SM Energy Co. (NYSE: SM) was started as Buy with a $36 price target (versus a $22.27 close) at B. Riley.

Sprouts Farmers Market Inc. (NASDAQ: SFM) was reiterated as Outperform and the price target was raised to $31 from $28 at Oppenheimer.

Weatherford International Inc. (NYSE: WFT) was maintained as Outperform at Credit Suisse, but the price target was cut to $4.50 from $5.50 due to a recovery taking longer than expected.

WPX Energy Inc. (NYSE: WPX) was started as Buy with a $20 price target (versus a $14.14 close) at B. Riley.

Monday’s top analyst calls were numerous and included Amgen, Boeing, Chevron, Exxon Mobil, Foot Locker, Lowe’s Nokia, PayPal, Sprint, Wells Fargo and over a dozen more.

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