Top Analyst Upgrades and Downgrades: Andeavor, CSX, Lam Research, Owens Corning, UPS, Xerox and More
The futures traded higher again on Monday morning as the new trading week started on the back of one of the best weeks for the markets since March. The venerable Dow Jones industrial average index posted a seventh straight day of gains last Friday, and traders will be looking to extend the gains.
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 and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Others 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 Monday, May 14, 2018.
Andeavor (NYSE: ANDV) was downgraded to Neutral from Overweight at JPMorgan. The 52-week trading range for the refining giant is $80.44 to $144.06. Marathon Petroleum is buying Andeavor in a massive $23.3 billion deal. The Wall Street consensus price target is $138.61, and the stock closed Friday at $140.16.
CSX Corp. (NYSE: CSX) was raised to Buy from Neutral at Goldman Sachs. The 52-week trading range for the railroad is $47.99 to $63.88. The consensus price target is $65.57, and the stock closed Friday at $63.09.
FMC Corp. (NYSE: FMC) was raised to Buy from Neutral at Goldman Sachs. The 52-week trading range is $69.94 to $98.70, and the consensus price objective is $97.85. The shares closed Friday at $88.90 but traded up smartly in Monday’s premarket action on the upgrade.
L Brands Inc. (NYSE: L) was raised to Buy from Neutral at Citigroup. The 52-week trading range for the lingerie retailer is $30.70 to $63.10. The consensus price objective is $44.83, and the stock closed Friday at $32.33.
Lam Research Corp. (NASDAQ: LRCX) was raised to Buy from Neutral at Citigroup. The 52-week trading range for the semiconductor capital equipment leader is $139.24 to $234.88. The consensus price objective is $266.55. The shares closed Friday at $201.55.
Owens Corning Inc. (NYSE: OC) was downgraded to Market Perform from Outperform at Wells Fargo. The stock has traded in a 52-week range of $59.96 to $96.52. The consensus price target is $86.68, and the shares closed trading Friday at $66.92.
Masco Inc. (NYSE: MAS) was downgraded to Neutral from Buy at Merrill Lynch. The 52-week trading range is $35.79 to $46.45. The consensus price target is set at $45.83. The shares closed last Friday at $38.07.
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