Stocks were indicated slightly lower on Friday, but investors also should consider that the Dow Jones industrials are now more than 2,000 points higher than the lows seen at the start of January. After seeing so much volatility in late 2018, and a big pop so far in 2019, investors have to keep giving strong consideration to how they want their assets positioned the rest of this year and beyond.
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 analyst reports cover stocks to buy, while others 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 were the top analyst upgrades, downgrades and initiations seen on Friday, February 1, 2019.
Alibaba Group Holding Ltd. (NYSE: BABA) was reiterated as Buy at Argus with a $190 price target (versus a $168.49 prior close) after its earnings topped estimates. The firm noted that while some trade-related discount is warranted, Alibaba’s China and Asian focus means it has been sharply oversold.
Amazon.com Inc. (NASDAQ: AMZN) closed up almost 3% at $1,718.73 ahead of earnings, but the higher business investment and costs had shares indicated down almost 5% at $1,640 or so despite beating expectations. Wedbush Securities maintained its Outperform rating but lowered its target to $2,000 from $2,100. Credit Suisse reiterated its Outperform rating but also warned that new business investment and initiatives, along with tough comps from before, likely means that strong growth will resume at the earliest in the second quarter of 2019. Merrill Lynch reiterated its Buy rating with a $2,100 price objective, noting a mixed quarter a deceleration of the AWS strength and higher investment costs.
AMC Entertainment Holdings Inc. (NYSE: AMC) was started with a Hold rating at Loop Capital.
Arrow Electronics Inc. (NYSE: ARW) was downgraded to Hold from Buy with an $80 price target (versus a $75.95 close) at Stifel.
AVEO Pharmaceuticals Inc. (NASDAQ: AVEO) was downgraded to Neutral from Buy and the target price was slashed to $1 from $9 at H.C. Wainwright. That is after shares fell by 60% to $0.70 after an FDA delay in approving its submission for its kidney cancer drug.
Baker Hughes, a GE Company (NYSE: BHGE) was down 1.5% at $23.57 on Thursday, but Credit Suisse reiterated its Outperform rating and raised its price target to $28 from $25, noting that it was standing apart after earnings.
Baxter International Inc. (NYSE: BAX) was raised to Equal Weight from Underweight with a $72 price target (versus a $72.49 close) at Barclays. Credit Suisse reiterated its Outperform rating on Baxter and raised its target to $79 from $77 after pointing to growth in its outlook.
Celestica Inc. (NYSE: CLS) was downgraded to Neutral from Outperform with a $10 price target (versus a $9.93 close) at Macquarie. The shares were indicated down over 12% at $8.70 after an earnings miss.
Celgene Corp. (NASDAQ: CELG) was downgraded to Hold from Buy with a $95 price target (versus an $88.46 close) at Jefferies. Celgene has a 52-week range of $58.59 to $100.72 and a consensus target price of $102.78.
Cinemark Holdings Inc. (NYSE: CNK) was started with a Hold rating at Loop Capital.
Corcept Therapeutics Inc. (NASDAQ: CORT) was downgraded to Neutral from Overweight with a $14 price target (versus an $11.18 close) at Cantor Fitzgerald. Its shares were down 8% at $10.25 after guidance and issuing results.
Credit Acceptance Corp. (NASDAQ: CACC) was downgraded to Perform from Outperform at Oppenheimer, with the firm noting valuation risk ahead. Its shares closed down almost 4% at $398.02 on Thursday, and the prior consensus target price was $367.09.
Darden Restaurants Inc. (NYSE: DRI) was started as Neutral at Wedbush.
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