Stocks traded lower again on Wednesday morning with the looming threat of higher tariffs on China becoming more of a reality now that China has backpedaled on the core aspects of the trade negotiations. And also Iran is partially withdrawing from its multination 2015 nuclear agreement as well. Investors have been given all the recipes for “sell in May and go away” playbook, and with the markets still so close to all-time highs it’s time for investors to consider how they want their portfolios positioned for the rest of 2019.
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 Wednesday, May 8, 2019.
AvalonBay Communities Inc. (NYSE: AVB) was downgraded to Neutral from Buy at Mizuho. Its shares closed down almost 2% at $196.97 on Tuesday, with a consensus target price of $207.10 and in a 52-week trading range of $156.93 to $204.53.
Chipotle Mexican Grill Inc. (NYSE: CMG) was reiterated as Buy and the price target was raised to $797 from $695 (versus a $706.52 prior close) at Citigroup. The consensus target price is $624.17, and the 52-week trading range of $383.20 to $721.21.
Globant S.A. (NYSE: GLOB) was reiterated as Outperform and the price target was raised to $90 (versus an $81.07 close) at Wedbush Securities. The firm sees this as one the fastest-growing digital/SMAC IT Services vendors with delivery capabilities in Latin America, and the firm sees 2019 results being stronger due to the ongoing expansion of digital-related project sizes and currency tailwinds.
GreenSky Inc. (NASDAQ: GSKY) was downgraded to Neutral from Buy at Guggenheim. Its shares closed down 4.8% at $14.17 on Tuesday with earnings, and its shares were indicated down about 3% more at $13.75 on Wednesday morning.
Hasbro Inc. (NASDAQ: HAS) was reiterated as Buy and the target price raised to $118 from $103 (versus a $101.19 close) at Citigroup. Hasbro has a 52-week range of $76.84 to $109.60, and it had a consensus target price of $106.79.
Inogen Inc. (NASDAQ: INGN) was last seen trading down 28.5% at $65.20 after a 4.2% pre-earnings drop to $91.14. JPMorgan downgraded it to Neutral from Overweight and slashed the target price to $72 from $175. The previous 52-week range was $77.14 to $287.79, and the market cap was $2 billion as of Tuesday’s close.
LendingClub Corp. (NYSE: LC) was raised to Outperform from Neutral and the price target was raised to $5.00 from $3.75 (versus a $3.22 close, after a 4.1% drop) at Wedbush. The firm noted numerous positives after earnings: significant gains on all fronts over the past three years, operating with a more complex and diversified source of loan buying and funding, a tighter focus on its niche of “at-prime to super-prime” and using operating efficiencies to move toward adjusted EBITDA margins of 20% by the end of 2019.