Top Analyst Upgrades and Downgrades: Andeavor, Cimarex Energy, Groupon, Macy's, Marathon Petroleum, Match Group, Republic Services and More
The futures traded slightly higher Thursday morning as investors looked to digest a big move in the markets over the past five days. While the Iran situation has been somewhat tempered by the beginnings of new relations in North Korea, an element of tension still exists and the volatility index (VIX) is rising.
Some investors have reconsidered what the nine-year bull market may bring in 2018 and beyond. It has become clear that the multiyear trend of buying pullbacks is now more vulnerable to sellers, volatility and each major news headline. Many investors are finding it harder to decide how they want their assets positioned for the longer term.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing ideas and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other calls cover stocks to sell or to avoid.
Additional color and commentary have been added on some of these daily analyst calls. The consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Thursday, May 10, 2018.
Altice USA Inc. (NYSE: ATUS) was added to the Focus List at JPMorgan. The 52-week trading range for shares of the broadband communications and video services company is $16.25 to $35.29. The Wall Street consensus price target is posted at $27.23. The stock closed Wednesday at $16.79.
Andeavor (NYSE: ANDV) was downgraded to Neutral from Buy at Citigroup. The 52-week trading range is $80.46 to $144.08. The consensus price target is $138.61. The company is being bought by Marathon Petroleum and is trading within striking distance of the purchase price. The shares closed Wednesday at $140.28
Cimarex Energy Co. (NYSE: XEC) was downgraded to Neutral from Buy at Merrill Lynch. The 52-week trading range for the oil exploration and production company is $87.98 to $130.13. The consensus price target across Wall Street is $134.42. The stock closed trading on Wednesday at $97.73.
Coherent Inc. (NASDAQ: COHR) had coverage resumed at Stifel, which has a $248 price objective. That is in comparison to the consensus target of $256.38. The Stifel analysts feel that the long-term, secular story of increasing mobile adoption of flexible OLED displays remains firmly intact and it is more a question of the timing versus any structural breakdown in the story. The 52-week trading range is $157.47 to $329. Shares closed Wednesday at $175.45.
Groupon Inc. (NASDAQ: GRPN) was raised to Neutral from Sell at UBS. The 52-week trading range is $2.90 to $5.99, and the consensus price target is $5.32. The stock closed Wednesday at $4.88.
IPG Photonics Corp. (NASDAQ: IPGP) had coverage resumed at Stifel with a Buy rating and a price target of $282. The analysts feel the company will maintain a leadership position and continue to expand into other markets, as well as accelerating long-term growth prospects. The Stifel target compares with the consensus estimate of $262.86. The 52-week range is $133.86 to $264.11, and the stock ended trading on Wednesday at $244.50.
Macy’s Inc. (NYSE: M) was downgraded to Underweight from Equal Weight with a $25 price target at Morgan Stanley. The consensus price target is $29.71 for the venerable retailer. The 52-week trading range is $17.41 to $32.45, and shares closed on Wednesday at $30.14.
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