Stocks were pounded on Monday after China retaliated with tariffs of its own to kick off a trade war. Tuesday was looking at a recovery in early indications, but only about 30% of the prior day’s losses were recouped. Investors have seen multiple reasons that might magnify the “sell in May and go away” mindset. The markets are also still quite 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 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, May 14, 2019.
AeroVironment Inc. (NASDAQ: AVAV) was upgraded to Buy from Hold and the target price was raised to $86 from $84 (versus a $63.47 prior close) at Canaccord Genuity.
Amber Road Inc. (NYSE: AMBR) was downgraded to Hold from Buy at Needham.
Broadcom Inc. (NASDAQ: AVGO) was reiterated as Buy and the target price was raised to $325 from $300 (versus a $293.38 close) at UBS. Shares were down 3.5% on Monday, and the prior consensus target price was $315.89.
Burlington Stores Inc. (NYSE: BURL) was started with an Outperform rating at Robert W. Baird, after closing down over 5% at $155.94 on Monday.
Coca-Cola Co. (NYSE: KO) was raised to Overweight from Equal Weight and the target price was raised to $55 from $52 at Morgan Stanley.
Conagra Brands Inc. (NYSE: CAG) was started with a Buy rating and assigned a $35 target price (versus a $28.11 close) at SunTrust Robinson Humphrey.
CymaBay Therapeutics Inc. (NASDAQ: CBAY) was started with a Buy rating and assigned a $21 target price (versus a $12.36 close, after a 4.9% drop) at Citigroup. It has a 52-week range of $6.31 to $15.00 and a consensus target price of $21.60.
CytomX Therapeutics Inc. (NASDAQ: CTMX) was started with an Overweight rating and assigned a $21 target price (versus a $10.80 close) at Cantor Fitzgerald. The stock closed down 2.5% at $10.80 on Monday, in a 52-week range of $8.94 to $27.20.
Deere & Co. (NYSE: DE) was downgraded to Underweight from Neutral and the price target was lowered to $132 from $154 at JPMorgan. The firm cited deteriorating fundamentals in the agriculture business. Deere was one of the 12 worst China-hit stocks on Monday, with a 6.3% drop to $146.28, and its prior consensus target price was $175.72.
Elastic N.V. (NYSE: ESTC) was down 5.8% at $83.20 on Monday, and Stifel started it with a Hold rating at on Tuesday.
Energizer Holdings Inc. (NYSE: ENR) was raised to Buy from Neutral at Citigroup. Shares were down 2.4% at $42.46 on Monday, with a consensus target price of $55.18.