Top Analyst Upgrades and Downgrades: AbbVie, Apple, Broadcom, Exxon, Fabrinet, HP, Match, Target and More
The futures looked solidly higher Wednesday morning as some of the nervousness over the political and banking situation in Italy appeared to have died down. While concern remains, an imminent crisis seems unlikely now.
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.
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 Wednesday, May 30, 2018.
AbbVie Inc. (NYSE: ABBV) was downgraded to Underperform from Neutral at Deutsche Bank. Its 52-week trading range is $65.61 to $125.86. The Wall Street consensus price target is $116.14, and the stock closed trading on Tuesday at $99.47.
Apple Inc. (NASDAQ: AAPL) was downgraded to Buy from Hold at Maxim Group. The 52-week trading range for the technology giant is $142.20 to $190.37. The consensus price target is set at $197.02. The stock closed Tuesday at $187.90.
Broadcom Inc. (NASDAQ: AVGO) was resumed with a Buy rating and a $295 price target at Longbow. That compares with the consensus target of $310.34. The 52-week trading range is $21.98 to $285.68, and the stock closed trading Tuesday at $249.69.
IAC/InterActive Corp. (NASDAQ: IAC) was started with a Buy rating and a $183 price objective at Deutsche Bank. That compares with a consensus target of $189.35 ad a 52-week trading range of $98.27 to $166.64. The stock closed trading on Tuesday at $150.98.
Exxon Mobil Corp. (NYSE: XOM) was raised to Outperform from Sector Perform at RBC Capital Markets. The 52-week trading range for the energy behemoth is $72.16 to $89.30. The consensus price target is set at $87.26, and the stock closed Tuesday’s trading at $78.42 per share.
HP Inc. (NYSE: HPQ) was raised to Buy from Hold at Maxim Group after posting solid quarterly results. The 52-week trading range is $17.10 to $24.75, and the posted consensus price objective is $25.76. Shares closed trading on Tuesday at $21.30.
Noble Energy Inc. (NYSE: NBL) was downgraded to Neutral from Outperform at Credit Suisse. The 52-week range for the oilfield service company is $22.99 to $37.67. The consensus price target is $42.26, and the shares ended trading on Tuesday at $35.32.
Target Corp. (NYSE: TGT) was added to the Merrill Lynch US 1 stock list. The firm has an $86 price target on the retail leader, while the consensus target was last seen at $76.91. Target shares closed Tuesday at $71.70.