Stocks were indicated to open higher on Monday. Despite the S&P 500 hitting all-time highs a week ago, trading has been very mixed during a very strong earnings season. Investors have seen less reward in 2018 after buying every market dip than had been seen in the past few years. Now investors are deciding how they want their investments positioned ahead of the midterm elections and during international trade concerns.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some of the daily analyst reports cover stocks to buy, and some reports cover stocks to sell or to avoid.
Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen from Monday, August 27, 2018.
AK Steel Holding Corp. (NYSE: AKS) was raised to Overweight from Equal Weight but the price target was cut to $5.50 from $6.00 (versus a $4.29 prior close) at Morgan Stanley. The shares were indicated up over 2% at $4.38 on Monday.
American Eagle Outfitters Inc. (NYSE: AEO) was downgraded to Neutral from Outperform with a $29 price target (versus a $28.42 close) at Wedbush Securities.
Bloom Energy Corp. (NYSE: BE) was downgraded to Underperform from Neutral with a $24 price target (versus a $30.35 close) at Credit Suisse. The shares had closed up 5.5% on Friday, but they were indicated to open down about 4% at $29.60 on Monday.
Chipotle Mexican Grill Inc. (NYSE: CMG) was downgraded to Underperform from Neutral and the price target was cut to $445 from $450 (versus a $520.71 close) at Wedbush. The firm noted that its quarter-to-date checks suggest risk to the current third-quarter consensus same-store sales growth and margin expectations.
CIT Group Inc. (NYSE: CIT) was downgraded to Equal Weight from Overweight with a $60 target price (versus a $54.76 close) at Stephens. The stock has a 52-week range of $43.25 to $56.14 and a consensus target price of $56.77.
Cushman & Wakefield PLC (NYSE: CWK) has seen its quiet period come to an end. Shares closed up 0.6% at $17.65 on Friday, and the indications were up about 1% on Monday. Barclays started it as Overweight with a $21 target, and Morgan Stanley also started it as Overweight, with a $21 target. JMP Securities started it as Outperform with a $20.50 target, and Credit Suisse started coverage as Outperform with a $21 target. Citigroup started Cushman & Wakefield as Neutral with a $19.50 target.
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