Top Analyst Upgrades and Downgrades: AMC Networks, Kinder Morgan, Lam Research, MGM Resorts, Spotify and More

Print Email

The futures looked slightly higher Tuesday morning as investors tried to digest a massive Monday sell-off that briefly put some indices again in correction mode for the year. While the trade and tariff issues remain the number one concern on investors’ minds, it should be noted this is the final trading week for the second quarter. Many portfolio managers may be taking profits in an effort to secure a positive quarter for their investors.

Many investors are now 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 every pullback 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 26, 2018.

AMC Networks Inc. (NASDAQ: AMCX) was downgraded to Neutral from Buy at Goldman Sachs. The 52-week trading range for the shares is $46.89 to $69.02, and the Wall Street consensus price target is $61.63. The stock closed Monday’s trading at $64.72, so this may be a straight valuation call.

Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Hold rating at Benchmark. The 52-week trading range is $9.04 to $17.34, and the consensus price target is posted at $14.87. The shares closed Monday at $15.11.

Ascendis Pharmaceutical A/S (NASDAQ: ASND) was started with a Buy rating and an $85 price objective at Stifel. That compares to the consensus target of $81.69. The Stifel team views company’s proprietary TransCon technology as game-changing in its potential to fix the pharmacokinetic and related clinical shortcomings of both currently approved blockbuster drugs as well as others in development. The stock closed Monday at $65.89.

At Home Group Inc. (NASDAQ: HOME) was raised to Overweight from Equal Weight at Morgan Stanley. The stock had traded in a range of $20.07 to $39.31 over the past year. The consensus price target is $41.56, and the stock ended trading on Monday at $36.37.

Avis Budget Inc. (NYSE: CAR) was resumed in coverage at Morgan Stanley with an Underweight rating and a $30 price target. That compares with the Wall Street target of $51. The shares closed Monday at $38.66, down almost 8% on the day.

Kinder Morgan Inc. (NYSE: KMI) was raised to Outperform from Market Perform at Bernstein. The 52-week trading range is $14.69 to $21.25, and the consensus price target is $20.55. The stock closed Monday at $17.17.

Lam Research Corp. (NASDAQ: LRCX) was raised to Buy from Hold at UBS. The stock has traded in a 52-week range of $139.24 to $234.88. The consensus price target for the semiconductor capital equipment company is $266. The stock closed Monday at $171.01.

MGM Resorts International (NYSE: MGM) was downgraded to Neutral from Buy at Goldman Sachs and was removed from the Conviction Buy List. The stock has traded in a 52-week range of $28.94 to $38.41, and the consensus price target is $38.47. The shares closed Monday at $29.27.