Stocks took a breather on Thursday on a slower news day after gains seen this week. The market indexes have hit all-time highs as trade fears ease and as earnings season was very strong. Investors have by and large seen lower rewards for buying the dips in 2018 than in prior years. Investors also are trying to decide how they want their investments positioned for the rest of 2018.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to uncover 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 on Thursday, August 30, 2018.
Adverum Biotechnologies Inc. (NASDAQ: ADVM) was started as Buy and assigned an $11 price target (versus a $6.13 prior close) at SunTrust Robinson Humphrey.
Akoustis Technologies Inc. (NASDAQ: AKTS) was started as Outperform and assigned a $10 price target (versus a $7.70 close) at Oppenheimer.
Altra Industrial Motion Corp. (NASDAQ: AIMC) was raised to Overweight from Equal Weight and the price target was raised to $49 (versus a $38.00 close) at KeyBanc Capital Markets. The stock was last seen up 3% at $39.15, and the consensus target price was $53.00.
Genesco Inc. (NYSE: GCO) was raised to Buy from Hold with a $54 price target (versus a $46.35 close) at Pivotal Research.
Glaukos Corp. (NYSE: GKOS) saw its shares surge by 40% to $62.86 on Wednesday. Berenberg initiated coverage with a Hold rating and with a $57 price target. BMO Capital Markets maintained its Market Perform rating but raised its target price to $59 from $44.
GlaxoSmithKline PLC (NYSE: GSK) was downgraded by a European firm called Liberium, with its rating dropping to Hold from Buy.
Honeywell International Inc. (NYSE: HON) was maintained as Buy but the price target was raised to $190 from $180 (versus a $160.30 close) at UBS.
Itau CorpBanca (NYSE: ITCB), a Chilean bank that also operates in Colombia and Panama, was raised to Buy from Neutral at Citigroup. Its American depositary shares closed at $14.70 on Wednesday, in a 52-week range of $10.28 to $16.34.
ITT Inc. (NYSE: ITT) was maintained as Sell but the target price was raised to $60 from $57 at UBS.
Johnson Controls International PLC (NYSE: JCI) was maintained as Buy but the price target was lowered to $44 from $46 (versus a $38.42 close) at UBS.
3M Co. (NYSE: MMM) was maintained as Neutral but the price target was raised to $220 from $215 (versus a $210.46 close) at UBS. 3M has a consensus target price of $210 and a 52-week range of $190.57 to $259.77.
MongoDB Inc. (NASDAQ: MDB) was maintained as Equal Weight but the price target was raised all the way to $66 from $41 (versus a $71.91 close) at Morgan Stanley.
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