Stocks were indicated to open marginally higher after Wednesday’s sell-off marked a two-day slide on continued trade war fears. Investors probably are wondering if they should have listened to the “sell in May and go away” calls that have dominated all month. Despite a China trade war and a political climate in the United States that is boiling, the major market indexes are still quite close to all-time highs, while the Federal Reserve is ignoring a widening inverted yield curve. All this adds up to a scenario in which investors have to be considering how they want their portfolios positioned for the rest of 2019 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 these 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 Thursday, May 30, 2019.
Apple Inc. (NASDAQ: AAPL) was maintained with an Overweight rating at Morgan Stanley, but the target price was lowered to $231 from $240 based on China exposure and ongoing trade tariff fallout that has been hurting Apple and other companies. The stock closed down 0.5% at $177.38 a share on Wednesday. The 52-week trading range is $142.00 to $233.47, and the consensus target price is $216.17.
Citigroup Inc. (NYSE: C) was raised to Buy from Neutral at Goldman Sachs, which cited Citi’s realistic path to growth in 2020, even if there is not a story of stronger global growth and without needing higher interest rates. It has a 52-week range of $48.42 to $75.24 and a consensus target price of $79.92.
Comcast Corp. (NASDAQ: CMCSA) was raised to Buy from Neutral at Guggenheim, with the firm calling out growth in its broadband segment and also noting that NBCUniversal is operating at high levels. It has a 52-week range of $30.67 to $43.96 and a consensus target price of $47.23.
Cypress Semiconductor Corp. (NASDAQ: CY) was raised to Equal Weight from Underweight and the price target was raised to $15.50 from $11.00 at Morgan Stanley. Shares closed up 12% at $17.25 on news that the company is a potential buyout candidate now. Its consensus target price was up at $18.15 ahead of the call. It has a 52-week range of $11.75 to $18.59.
Eldorado Gold Corp. (NYSE: EGO) was downgraded to Underweight from Neutral at JPMorgan. It has a 52-week range of $2.52 to $5.90 and a consensus target price of $1.98.
EVO Payments Inc. (NASDAQ: EVOP) was started as Neutral with a $28 price target (versus a $30.05 prior close) at Cantor Fitzgerald.
Huya Inc. (NYSE: HUYA) was started with a Buy rating and assigned a $26 price objective (versus a $21.10 close) at Merrill Lynch.
Kinross Gold Corp. (NYSE: KGC) was downgraded to Underweight from Neutral at JPMorgan. It has a 52-week range of $2.38 to $3.98 and a consensus target price of $3.99.
RTI Surgical Holdings Inc. (NASDAQ: RTIX) was started with an Overweight rating and assigned a $7 target price (versus a $4.01 prior close) at Cantor Fitzgerald.