The futures traded higher Friday morning as investors tried to wrap their heads around what has been one of the most volatile weeks in market history. Following Wednesday’s record gain for the Dow Jones industrial average came Thursday’s big retreat giving back more than half of the gains by early afternoon. Then in the final 90 minutes of trading, the biggest rally back in 10 years.
One trend that has been impossible to ignore as 2018 comes to a close and during weeks of selling is that investors also have seen less upside from buying immediately after the big market sell-offs than in prior years. Now investors have to consider how they want to have their investments and assets positioned for 2019.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while some cover stocks to sell or to avoid.
Additional color and commentary also has been added on some of these daily analyst calls. The consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Friday, December 28, 2018.
Adobe Inc. (NASDAQ: ADBE) was raised to Buy from Hold at DZ Bank. The 52-week trading range for the stock is $175.10 to $277.61. The Wall Street consensus price target for the diversified software giant is $290.04. The stock closed Thursday at $225.14.
Dell Technologies Inc. (NYSE: DELL) was started with an Overweight rating and a $60 price target at JPMorgan. Dell Technologies (NYSE: DVMT) had received shareholder approval for its earlier announced deal to buy back shares tied to its interest in software maker VMware, paving the way for it to return to the market. The shares will begin trading today and the price looks to be $44.60.
Diamondback Energy Inc. (NASDAQ: FANG) was reiterated with a Buy rating and a $127 price target at Goldman Sachs. The analyst cites 2019 guidance that highlights greater capital productivity and return of capital priorities. The consensus price target is higher at $153.31. The stock closed Thursday at $92.88.
Lending Tree Inc. (NASDAQ: TREE) was raised to Outperform from Market Perform at Northland Capital. The shares have traded between $183.25 and $404.40 over the past year, and the consensus price target is posted at $287.75. The stock ended trading on Thursday at $219.95.
Oxford Industries Inc. (NYSE: OXM) was started with a Buy rating at C.L. King, which set an $80 price target. The consensus price objective is $83.50, and the stock ended trading on Thursday at $69.59.
Philip Morris Inc. (NYSE: PM) was reiterated with an Overweight rating at Piper Jaffray, as the analysts there feel the tobacco giant has the potential to rise 65% from current levels. The shares have traded in a 52-week range of $64.67 to $111.25, and the consensus price target is $93.25. That compares to Thursday’s close at $66.68.
Pinnacle West Capital Corp. (NYSE: PNW) was reiterated with a Buy rating at Goldman Sachs. The firm remains very positive on the company’s growth opportunity. The 52-week trading range is $73.41 to $92.64, and the consensus price target is $89.95. The shares closed trading on Thursday at $85.85.
Wingstop Inc. (NASDAQ: WING) was raised to Outperform from Perform at Wedbush, and the $69 price target is just below the previous target of $71. That compares with the consensus target that is also set at$69. The shares closed Thursday at $60.59.
Other key analysts upgrades and downgrades were seen in the following:
Casella Waste Systems Inc. (NASDAQ: CWST) was raised to Buy from Hold at Stifel. The 52-week range for the shares is $22.15 to $34.48, and the consensus price target is $33.25. The stock closed on Thursday at $26.39.
Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI) is reiterated with a Buy rating and a $26 target at B. Riley FBR. That compares to the consensus target of $24.75. The shares ended the trading session Thursday at $19.40.
Newtek Business Services Inc. (NASDAQ: NEWT) is raised to Buy from Neutral at Ladenburg Thalmann. The 52-week trading range is $15.59 to $24.24. The consensus price target is $20.25, and the shares ended Thursday at $17.36.
Parsley Energy Inc. (NYSE: PE) is reiterated with a Buy rating and a $28 price target at Goldman Sachs. That compares to the consensus target of $32.45. The shares ended Thursday at $16.03.
Thursday’s top analyst upgrades and downgrades included Altbaba, Autodesk, AutoZone, CBS, Eli Lilly, Lululemon Athletica, Michaels, Target and more.