Stocks were indicated to open higher yet again on Tuesday, as June has turned into a complete role reversal from May’s “sell in May” theme that was winning. Investors need to be considering how they want their portfolios and assets positioned for the rest of 2019 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 calls cover stocks to buy, but others cover stocks to sell or to avoid.
We have provided these calls in a quick-hit summary for easy reading. Additional commentary and trading data have been added on some of the most important and interesting 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 on Tuesday, June 11, 2019.
Agilent Technologies Inc. (NYSE: A) was started as Overweight and assigned an $83 target price at Piper Jaffray. The stock closed up 1.1% at $70.29. It has a 52-week range of $60.42 to $82.27 and a consensus target price of $87.50.
Allergan PLC (NYSE: AGN) was started as Underweight with a $133 target price at Barclays. The stock closed down 0.4% at $126.61. It has a 52-week range of $120.68 to $197.00 and a consensus target price of $178.84.
AMAG Pharmaceuticals Inc. (NASDAQ: AMAG) was started as Overweight with a $19 target price at Barclays.
Avantor Inc. (NYSE: AVTR) was started as Buy and assigned a $20 target price at Goldman Sachs. Avantor was also UBS assigned a $21 target price and has a new Buy rating. KeyBanc Capital Markets assigned a Sector Weight rating, while Deutsche Bank started the stock at Buy. Its shares closed up 0.6% at $17.30 on Monday and were indicated up 1.1% at $17.50 on Tuesday. The initial public offering priced at $14 for 205 million shares, with the original offering indicated at 154 million shares but in an $18 to $21 range.
Beyond Meat Inc. (NASDAQ: BYND) was downgraded to Neutral from Overweight at JPMorgan, which raised the price target to $121 from $120 in the call. This is a valuation downgrade where Beyond Meat now reflects its full profit and growth potential (and maybe then some) in the firm’s downgrade. After rising 21% to $169.10 on Monday, the shares were last seen down 9% at $152.95.
Canopy Growth Corp. (NYSE: CGC) was started with a Neutral rating at Compass Point. Shares closed up 3.7% at $43.76, in a 52-week range of $24.21 to $59.25.
Dollar Tree Inc. (NASDAQ: DLTR) was raised to Overweight from Neutral with a $122 price target at JPMorgan, with the firm noting that it has good metrics and sees improvements being implemented for consumers at its Family Dollar chain. The stock closed up 1.1% at $103.78. It has a 52-week range of $78.78 to $111.61 and a consensus target price of $111.40.
Endo International PLC (NASDAQ: ENDP) was started as Equal Weight and assigned a $6 target price at Barclays.
Facebook Inc. (NASDAQ: FB) was raised to Buy from Neutral at Moffett Nathanson, with the upgrade noting that multiple concerns of the firm from last year now have been addressed and are being worked through. The stock closed up 0.9% at $174.82. It has a 52-week range of $123.02 to $218.62 and a consensus target price of $221.50.
Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) was started as Overweight and assigned a $10 target price (versus a $2.50 prior close) at Barclays.
Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) was started as Overweight with a $164 price target (versus a $129.15 close) at Barclays.