Top Analyst Upgrades and Downgrades: Best Buy, Chesapeake Energy, Comcast, Cree, EverQuote, KeyCorp, Lumentum, Nvidia, Vodafone, Xilinx and More
Stocks were indicated to open marginally higher on Tuesday, just a day after Monday’s big stock market sell-off knocked off 602 DJIA points and about 55 S&P 500 points. Still, the worst major index performer was the 3% drop of 210 points on the Nasdaq 100 while the bond market was closed. Investors have faced numerous waves of selling in 2018, and they also have seen lower upside after buying immediately after the big market sell-offs than in prior years. It is time for investors to start considering how they want their investments and assets positioned for 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 of these reports cover stocks to buy, while 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 Tuesday, November 13, 2018.
Best Buy Co. Inc. (NYSE: BBY) was downgraded to Neutral from Buy at Merrill Lynch. The stock was down 0.9% at $67.15 on Monday, and it has a 52-week range of $52.92 to $84.37 and a consensus price target of $79.44.
Chesapeake Energy Corp. (NYSE: CHK) was raised to Neutral from Sell and the target price was raised to $4.50 from $3.50 (versus a $3.46 prior close, after a 4.7% drop) at Citigroup. Chesapeake Energy has a 52-week range of $2.53 to $5.60, and its consensus target price was last seen at $4.50.
Comcast Corp. (NASDAQ: CMCSA) was down only 0.9% at $38.00 after President Trump tweeted about antitrust issues. Barclays just reinstated Comcast as Overweight and assigned a $44 price target. The 52-week trading range is $30.43 to $44.00, and the consensus price target is $43.83.
Cree Inc. (NASDAQ: CREE) was started as Outperform and assigned a $55 price target (versus a $41.52 close, after a 4.5% drop) at BMO Capital Markets. Cree has a consensus target price of $46.50 and a 52-week trading range of $30.78 to $51.78.
EverQuote Inc. (NASDAQ: EVER) was downgraded to Neutral from Buy and the price objective was lowered to $15 from $21 (versus an $11.91 close, after a 5.7% drop) at Merrill Lynch. Canaccord Genuity maintained a Buy rating but still lowered its target to $18 from $23. The 52-week trading range is $11.53 to $22.09, and the consensus price target was $22.40 ahead of this move. The post-earnings drop on Tuesday was down almost 16% at $10.03, for a new low.
KeyCorp (NYSE: KEY) was downgraded to Neutral from Buy at Nomura/Instinet with an $18 price target. It has a 52-week range of $16.48 to $22.40, and it had a consensus price target of $22.36.
Lumentum Holdings Inc. (NASDAQ: LITE) was downgraded to Neutral from Overweight at JPMorgan after its shares fell almost 33% to $37.50 on lowered guidance. The firm also slashed its price target to $50 from $80. The 52-week trading range is $37.00 to $74.40, and the consensus price target is $74.69.
Nvidia Corp. (NASDAQ: NVDA) was raised to Positive from Neutral at Susquehanna, which noted that it will win from the benefits of artificial intelligence ahead. The stock has a 52-week range of $176.01 to $292.76 and a consensus price target of $288.79. Shares fell 7.8% to $189.54 on Monday but were indicated up over 1% on Tuesday morning.
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