Stocks were indicated lower, and the stock market may be looking at five straight down days now. Still, the recent selling has been around less news flow after earnings season, and the Dow Jones industrial average had rallied some 3,500 points from its lows at the start of the year. Investors have to be considering how they want their investments and assets positioned for the rest of 2019.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing ideas and trading ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while some of the analyst reports cover stocks to sell or stocks to avoid.
Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters (Refinitiv) sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Friday, March 8, 2019.
Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Buy and the price target was raised to $28 (versus a $25.76 prior close) at Argus. Abercrombie had a consensus target price of $23.58.
Alaska Air Group Inc. (NYSE: ALK) was downgraded to In-Line from Outperform at Imperial Capital. The stock closed at $55.95 a share and has a consensus target price of $78.73.
BP Midstream Partners L.P. (NYSE: BPMP) was reiterated as Underperform and the price target was lowered to $15 from $17 (versus a $15.50 close) at Credit Suisse. Its yield-equivalent is currently 7.8%, and it has a consensus target price of $19.57.
BCE Inc. (NYSE: BCE) was raised to Buy from Hold and the price target was set at $48 at Argus. Shares closed at $43.81 on Thursday, and the call is with a 5.5% yield and the dividend continuing to grow. The firm also noted that its chart has reversed a long-term bearish trend wherein shares have risen in a bullish pattern of higher highs and higher lows.
Buckeye Partners L.P. (NYSE: BPL) was raised to Buy from Neutral and the target price was raised to $36 from $33 (versus a $33.09 close) at UBS.
DRDGOLD Ltd. (NYSE: DRD) was started with an Outperform rating at Macquarie. The stock closed at $2.10 and has a consensus target price of $3.85.
Ensco PLC (NYSE: ESV) was raised to Buy from Hold at HSBC. It closed down 1.2% at $4.17 on Thursday, in a 52-week range of $3.19 to $9.51.
Etsy Inc. (NASDAQ: ETSY) was downgraded to Neutral from Buy at BTIG. The stock closed down 4% at $67.24 on Thursday, and it has a consensus price target of $68.46.
Exxon Mobil Corp. (NYSE: XOM) was downgraded to Market Perform from Outperform at Cowen. It closed up 1.1% at $80.16 on Thursday, and it previously had a consensus target price of $85.17.
GameStop Corp. (NYSE: GME) was downgraded to Underperform from Neutral and the price objective was lowered to $9 from $12 (versus an $11.59 close) at Merrill Lynch. GameStop has a consensus target price of $12.27 and a 52-week range of $11.17 to $17.27.
Glaukos Corp. (NASDAQ: GKOS) was started as Neutral at BTIG.