Marathon Oil Corp. (NYSE: MRO) was downgraded to In-Line from Outperform with a $26 price target (versus a $16.05 close) at Evercore ISI.
Micron Technology Inc. (NASDAQ: MU) was maintained as Overweight but the price target was lowered to $61 from $73 (versus a $35.31 close, after a 6.26% drop) at KeyBanc Capital Markets. The stock was indicated down 1.1% at $34.90 on Monday, and it had a consensus target price of $60.00 and a 52-week trading range of $33.82 to $64.66.
Navistar International Corp. (NYSE: NAV) was downgraded to Sell from Neutral and the target price was slashed to $23 from $43 (versus a $28.69 close) at Goldman Sachs. It was indicated down almost 4% at $27.60 on Monday, and its prior consensus target price was $44.61.
Noble Energy Inc. (NYSE: NBL) was downgraded to In-Line from Outperform at Evercore ISI.
Oshkosh Corp. (NYSE: OSK) was downgraded to Sell from Neutral with a $58 price target at Goldman Sachs.
Parsley Energy Inc. (NYSE: PE) was downgraded to In-Line from Outperform with a $39 price target at Evercore ISI.
Polaris Industries Inc. (NYSE: PII) was downgraded to Neutral from Buy and the price target was lowered to $99 from $126 at B. Riley FBR.
Qorvo Inc. (NASDAQ: QRVO) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Regions Financial Corp. (NYSE: RF) was downgraded to Reduce from Neutral at Nomura/Instinet.
RenaissanceRe Holdings Ltd. (NYSE: RNR) was raised to Outperform from Market Perform and the target was raised to $168 from $143 at Keefe Bruyette & Woods. The stock closed up 4% at $139.20 on Friday, and its prior consensus target price was $140.
SecureWorks Corp. (NASDAQ: SCWX) was downgraded to Equal Weight from Overweight with a $17 target price (versus a $15.64 close, after an 8.5% drop) at Morgan Stanley.
Skyworks Solutions Inc. (NASDAQ: SWKS) was downgraded to Sector Weight From Overweight by KeyBanc Capital Markets.
Visteon Corp. (NYSE: VC) was downgraded to Sell from Neutral and the target price was lowered to $63 from $83 at Goldman Sachs.
Wageworks Inc. (NYSE: WAGE) was raised to Outperform from Market Perform at JMP Securities.
Yamana Gold Inc. (NYSE: AUY) was downgraded to Market Perform from Outperform at BMO Capital Markets.
While this trading has been reminiscent of bear market trading action, it is important to heed some dire warnings about when to trust analyst calls during bear markets.
Credit Suisse has listed its nine newest top picks to outperform into 2019.
Friday’s top analyst calls included Apple, Broadcom, Chesapeake Energy, Devon Energy, Lululemon Athletica, SecureWorks, Tesla, Zendesk and many more.
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