Top Analyst Upgrades and Downgrades: Agnico Eagle Mines, Ford, Marathon Petroleum, Roku, Spotify, Quest Diagnostics and More
The futures traded lower this Tuesday morning as investors start the holiday-shortened trading week with continued concerns over trade and additional overseas issues, including growing political instability in Italy. While the geopolitical issues have continued to dominate the headlines, all eyes this week will be focused on Friday, when the nonfarm payroll numbers for May are due to be released.
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 analyst calls cover stocks to sell or stocks 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 Tuesday, May 29, 2018.
Agnico Eagle Mines Ltd. (NYSE: AEM) was raised to Outperform from Market Perform at BMO Capital. The 52-week trading range for the gold mining giant is $37.35 to $51.86. The Wall Street consensus price target is $52.58. The stock closed trading last Friday at $43.92.
Ford Motor Co. (NYSE: F) was raised to Buy from Hold at Jefferies. The 52-week trading range for the iconic U.S. automaker is $10.14 to $13.48, and the consensus price target is $12.28. The shares closed Friday at $11.51.
Infinera Corp. (NASDAQ: INFN) was downgraded to Underperform from Hold at Jefferies. The 52-week trading range is $6.10 to $12.39 and the consensus price objective is set at $11.82. The stock closed Friday at $10.07, but shares were off over 4% in premarket action.
Marathon Petroleum Inc. (NYSE: MPC) was raised to Outperform from Market Perform at Wells Fargo. The 52-week trading range for the refining giant is $49.30 to $83.27. The consensus price objective is set at $90.38, and shares closed Friday at $77.
Nanometrics Inc. (NASDAQ: NANO) was downgraded to Hold from Buy at Stifel, but the firm raised its price objective to $40 from $35. The analysts noted that the call is primarily a valuation one, and not reflective of any company-specific or industry fundamentals change. The consensus price objective is $35.33. The stock closed Friday at $38.67.
PetroChina Co. Ltd. (NYSE: PTR) is raised to Outperform from Market Perform at Bernstein. The 52-week trading range is $60.69 to $82.69. The consensus price target is $82.88, and the stock closed Friday at $79.96.
Roku Inc. (NASDAQ: ROKU) is raised to Equal Weight from Underweight at Morgan Stanley. The 52-week trading range is $15.75 to $58.80, and the consensus price target is $38.25. The stock closed trading last Friday at $38.54.