The futures traded down big Tuesday morning as investors absorbed another day of losses on Monday. While the major indices came way off the lows that were printed early in trading Monday morning, and small cap stocks as represented by the Russell 2000 actually hit an all-time high, concerns over the potential fallout from the trade tariffs are the major issue on investors’ minds.
Some investors are reconsidering what the nine-year bull market may bring for the rest of 2018 and beyond. It has become very 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. Other analyst 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 Tuesday, June 19, 2018.
Commercial Metals Co. (NYSE: CMC) was downgraded to Underperform from Neutral at Merrill Lynch. The 52-week trading range for the stock is $17.05 to $26.72. The consensus price objective is $26.10. The stock closed Monday at $24.08 a share.
Diamondback Energy Inc. (NASDAQ: FANG) saw its price target raised at Jefferies to $177 from $170, and the analysts reiterated the firm’s Buy rating. The consensus price target for the Permian Basin exploration and production company is $159.38. The shares closed Monday at $122.58, up over 6% on the day.
Dr Pepper Snapple Group Inc. (NYSE: DPS) was downgraded to Hold from Buy with a $122 price target at Stifel. That compares with a consensus price target of $125.29. The analysts basically cite the stock’s outperformance as the reason. The shares closed Monday at $121.80.
Fortinet Inc. (NASDAQ: FTNT) was downgraded to Market Perform from Outperform at Cowen. The 52-week trading range is $35.44 to $66.32, and the consensus price objective is $58.85. The shares closed Monday at $66.17, so this looks like a valuation call.
Helmerich and Payne Inc. (NYSE: HP) was raised to Buy from Hold and saw its price target raised to $80 from $72 at Jefferies. The consensus price target is $68. The analysts cite the 13% price drop over the past month as unwarranted. The stock closed Monday at $63.87.
KB Home (NYSE: KBH) was raised to Neutral from Sell at Citigroup. The stock has traded between $20.68 and $28.80 in the past year. The consensus price target is $32.03, and shares closed Monday at $25.67.
Meritage Homes Corp. (NYSE: MTH) had coverage resumed at Citigroup with a Buy rating and a $55 price target. The consensus price target is set at $55.73. The stock ended trading on Monday at $44.40.
Netflix Inc. (NASDAQ: NFLX) saw its price target raised to $460 from $375 at Monness Crespi & Hardt. The analysts cited engaging content, strong growth and improved margins. The consensus price target for the entertainment streaming behemoth is $334.95. The shares ended trading on Monday at $390.40.
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