Stocks were indicated higher on Wednesday after a strong preliminary jobs report from ADP. While the U.S. indexes are effectively at all-time highs, many investors have seen lower upside from buying on market pullbacks than in prior years. Now the investing community has to consider how to position their investments for the rest of 2018 and 2019.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy, but some 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 Wednesday, October 3, 2018.
Analog Devices Inc. (NASDAQ: ADI) was maintained as Overweight at Barclays, but the firm cut its price target to $108 from $110. The 52-week range is $80.95 to $103.59 and the consensus price target is $108.70.
BankUnited Inc. (NYSE: BKU) was maintained as Overweight at Barclays, but the firm lowered its price target to $45 from $49. The 52-week range is $32.34 to $44.97 and the consensus price target is $44.68.
Brookdale Senior Living Inc. (NYSE: BKD) was reiterated as Outperform and the price target was raised to $11 from $9 (versus a $9.35 prior close) at JMP Securities. The 52-week range is $6.28 to $11.09 and the consensus price target is $10.50.
Diamondback Energy Inc. (NASDAQ: FANG) was started with an Outperform rating and assigned a $166 price target (versus a $137.05 close) at Oppenheimer. The 52-week range is $97.81 to $138.49 and the consensus price target is $168.93.
Halliburton Co. (NYSE: HAL) was reiterated as Outperform and the price target was lowered to $55 from $58 (versus a $41.71 close) at Wells Fargo. Halliburton was indicated up 0.6% at $41.97 on Wednesday, and it had a consensus target price of $51.67.
Maxim Integrated Products Inc. (NASDAQ: MXIM) was maintained as Equal Weight and the price target was lowered to $59 from $60 at Morgan Stanley. The 52-week range is $47.94 to $74.94 and the consensus price target is $74.94.
Microchip Technology Inc. (NASDAQ: MCHP) was maintained as Equal Weight and the price target was lowered to $95 from $98 at Morgan Stanley. The 52-week range is $77.14 to $104.20 and the consensus price target is $113.73.
Neovasc Inc. (NASDAQ: NVCN) was reiterated as Outperform and the price target was raised to $3 from $2 at Leerink. Shares closed down 10.7% at $2.25 on Tuesday, but its shares were up 22% at $2.75 on Wednesday on news of positive follow-up data on patients implanted with a Neovasc Reducer.
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