Stocks were indicated to open lower on Monday after the Easter three-day weekend. With the major market indexes all still up well into the double-digit percentages year to date, both the S&P 500 and Nasdaq are still very close to hitting all-time highs again. Investors ought to 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. Our goal is to find new trading and investing ideas for our readers. Some of the daily analyst reports cover stocks to buy, but other reports 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 Monday, April 22, 2019.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Outperform with a $2,000 price target (versus a $1,861.69 prior close) at Wedbush Securities, with firm calling for upside to earnings with gross margins remaining the top story ahead of this Thursday’s earnings call.
Autoliv Inc. (NYSE: ALV) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Dover Corp. (NYSE: DOV) was downgraded to Neutral from Outperform at Robert W. Baird.
D.R. Horton Inc. (NYSE: DHI) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods.
Facebook Inc. (NASDAQ: FB) was reiterated as Outperform with a $200 price target (versus a $178.28 close) at Wedbush ahead of earnings. The firm is calling for revenue upside with strength in its ad product momentum and engagement growth.
IPG Photonics Corp. (NASDAQ: IPGP) was raised to Buy from Neutral with a $200 price objective (versus a $174.84 close) at Merrill Lynch.
Lam Research Corp. (NASDAQ: LRCX) was raised to Buy from Neutral and the target price was raised to $235 from $170 (versus a $194.77 close) at B. Riley FBR. The 52-week range is $122.64 to $209.92, and the consensus target price is $100.47.
Neurocrine Biosciences Inc. (NASDAQ: NBIX) was raised to Overweight from Neutral and the target price was raised to $106 from $100 (versus a $78.43 close, after a 3.3% drop) at JPMorgan.
Newmont Mining Corp. (NYSE: NEM) was raised to Buy from Hold with a $46 price target (versus a $33.04 close, after a 3.3% drop) at TD Securities. The stock has a 52-week range of $29.06 to $41.49 and a consensus target price of $40.91.
Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Neutral from Buy at Mizuho Securities and the price target was cut to $70 from $83 (versus a $61.82 close) in the call. The consensus target price is $78.07. The 52-week trading range is $56.83 to $87.67.
ONEOK Inc. (NYSE: OKE) was downgraded to Neutral from Buy at Seaport Global.