Although the broad markets have been in a slump recently amid China trade talks, the S&P 500 and Dow futures for Tuesday morning were relatively positive. While there has been some damage recently, the major equity indexes are still up in the double-digit percentages, and the S&P 500 remains within striking distance of its all-time high. Considering all this and the current tumultuous nature of the broad markets, investors should be considering how they want their assets positioned for the rest of 2019 and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.
Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These were the top analyst upgrades, downgrades and initiations seen on Tuesday, May 21, 2019.
Aeglea BioTherapeutics Inc. (NASDAQ: AGLE) was started with a Buy rating and assigned a $20 target price at H.C. Wainwright. Shares last closed at $6.50, in a 52-week range of $6.31 to $12.00 and with a consensus price target of $18.20.
Amgen Inc. (NASDAQ: AMGN) was started as Outperform and assigned a $208 price target at Credit Suisse, which compares to Monday’s closing price of $168.39. While this is a bullish prospect, the consensus price target is barely below Credit Suisse’s target at $206.10.
Biogen Inc. (NASDAQ: BIIB) was started with an Underperform rating at Credit Suisse. Shares closed at $230.76, in a 52-week range of $216.12 to $388.67 and with a consensus price target of $261.62.
Deckers Outdoor Corp. (NYSE: DECK) was raised to Buy from Neutral at Merrill Lynch. Shares last closed at $142.74, in a 52-week range of $101.62 to $159.75.
Gilead Sciences Inc. (NASDAQ: GILD) joins the brigade of biotechs mentioned by Credit Suisse. This one was started as Neutral, and the most recent closing price is $66.36.
Hillenbrand Inc. (NYSE: HI) was started as Neutral at D.A. Davidson. Shares last closed at $38.96, in a 52-week range of $36.22 to $53.41. Analysts have a consensus price target of $52.00.
KKR & Co. Inc. (NYSE: KKR) was downgraded to Neutral from Outperform by Credit Suisse.
S&P Global Inc. (NYSE: SPGI) was raised to Buy from Neutral at UBS.
Tesla Inc. (NASDAQ: TSLA) was given perhaps its worst implied target in ages. Morgan Stanley has lowered its worst-case scenario target to $10 from $97, but that is not its official target of course. The firm cited Tesla’s rising debt, geopolitical exposure and demand issues overseas. Morgan Stanley’s official price target remains at $230, and the firm has an Equal Weight rating. Shares of Tesla last closed at $205.36, in a 52-week range of $195.25 to $387.46. Analysts have a consensus price target of $283.32.
Uber Technologies Inc. (NYSE: UBER) was started with an Equal Weight rating at a firm called Consumer Edge Research. Susquehanna started Uber with a Neutral rating. Shares most recently closed at $41.59, in a post-IPO range of $36.08 to $45.00 and with a consensus price target of $57.67.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was started as Outperform and assigned a $209 price target at Credit Suisse. It closed Monday at $165.73, in a 52-week range of $144.07 to $195.81. The stock’s consensus price target is $207.30.
Monday’s top analyst upgrades and downgrades included Alibaba, Baidu, Bristol-Myers, Cimarex, Deere, Deutsche Bank, Micron, NeoPhotonics, Target, United Continental and more.