Top Analyst Upgrades and Downgrades: BP, Cognizant, Cisco, Dow, Ensco, Hess, Micron, Netflix, Sunoco and More
Stocks were indicated to open positive on Tuesday, on earnings and on more hopes for a China trade deal. The major market indexes are still up in the double-digit percentages year to date, and the S&P 500 and Nasdaq are both within striking distance of all-time highs. Investors should be considering how they want their portfolios positioned for the rest of the year and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new trading and investing ideas for our readers. Some of the daily analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.
Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, April 16, 2019.
Alamos Gold Inc. (NYSE: AGI) was started with an Outperform rating and assigned a $7 price target (versus a $4.92 prior close) at Credit Suisse. It has a consensus target price of $9.01 and a 52-week trading range of $2.90 to $6.13.
BP PLC (NYSE: BP) was maintained as Outperform at RBC Capital Markets, but the firm removed BP from the Top Pick list, noting that the valuation is still compelling but that the discount to peers has narrowed. Shares closed most recently at $44.67, in a 52-week range of $36.28 to $47.83. The consensus price target is $48.75.
Cisco Systems Inc. (NASDAQ: CSCO) was reiterated as Buy and the price target was raised to $62 from $58 at Goldman Sachs. Shares closed at $56.56, in a 52-week range of $40.25 to $56.61. The consensus price target is $55.46.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was downgraded to Market Perform from Outperform at Wells Fargo. Shares closed at $74.32, in a 52-week range of $59.47 to $83.35. The consensus price target is $82.53.
Coty Inc. (NYSE: COTY) was maintained as Market Perform but the price target was raised to $11 from $9 at Wells Fargo.
Cummins Inc. (NYSE: CMI) was raised to Buy from Neutral at Citigroup. Shares closed at $164.97, in a 52-week range of $124.40 to $172.08. The consensus price target is $159.95.
Dow Inc. (NYSE: DOW) was started as Outperform and named as a Top Pick with a $68 target price at RBC Capital Markets. Shares closed at $57.78, in a 52-week range of $48.00 to $60.52. The consensus price target is $62.63.
e.l.f. Beauty Inc. (NYSE: ELF) was raised to Buy from Neutral at D.A. Davidson.
Ensco PLC (NYSE: ESV) was started with an Overweight rating and assigned a $25 target price at Morgan Stanley. Shares closed at $14.85, in a 52-week range of $12.76 to $38.04. The consensus price target is $26.21.
EOG Resources Inc. (NYSE: EOG) was downgraded to Neutral from Buy at MKM Partners. Shares closed at $102.12, in a 52-week range of $82.04 to $133.53. The consensus price target is $119.11.