Stocks were indicated lower on Tuesday after the three-day weekend, but the major market equity indexes may have recently hit all-time highs after a strong earnings season. Investors have seen less upside from the “buy the dips” trends that had worked for several years. Those same 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. The goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, but some of them 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 Tuesday, September 4, 2018.
Analog Devices Inc. (NASDAQ: ADI) was downgraded to In Line from Outperform with a $105 price target (versus a $98.85 prior close) at Evercore ISI.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy and the price target was raised to $250 from $220 (versus a $227.63 close) at Canaccord Genuity. The call is ahead of an expected iPhone refresh, and Apple’s consensus target price was $218.90. The 52-week trading range is $149.16 to $228.87.
Arista Networks Inc. (NYSE: ANET) was downgraded to Equal Weight from Overweight with a $310 target price (versus a $298.98 close) at Morgan Stanley.
AT&T Inc. (NYSE: T) was maintained as Equal Weight but the price target was slashed to $31 from $40 (versus a $31.94 close) at Barclays. AT&T had a consensus target price of $35.72 and a 52-week range of $30.13 to $39.80.
Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA), or just BBVA, was downgraded to Neutral from Overweight at JPMorgan.
Cisco Systems Inc. (NASDAQ: CSCO) was reiterated as Overweight and the price target was raised to $51 from $48 (versus a $47.77 close) at Morgan Stanley. Cisco had a consensus target price of $50.96, and its 52-week range is $31.46 to $47.83.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was downgraded to Underperform from Buy and the price objective was cut to $81 from $91 (versus a $78.43 close) at Merrill Lynch. Its shares were indicated down 2.2% at $76.70 on Tuesday.
Dollar Tree Inc. (NASDAQ: DLTR) was maintained as Outperform but lost its Top Pick status at RBC Capital Markets.
Evercore Inc. (NYSE: EVR) was downgraded to Neutral from Buy with a $117 price target (versus a $106.15 close) at UBS.
Eversource Energy (NYSE: ES) was started as Sector Perform with a $60 price target (versus a $62.43 close) at Scotia.
Facebook Inc. (NASDAQ: FB) was downgraded to Neutral from Buy at MoffettNathanson. The stock previously closed at $175.73 a share, and it had a consensus target price of $211.03.
Gensis Energy L.P. (NYSE: GEL) was downgraded to Neutral from Outperform with a $26 price target (versus a $23.93 close) at Robert W. Baird.
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