The market opened lower this morning after posting an intraday all-time high for the S&P 500 yesterday. Concerns over Iran after allegedly shooting down a U.S. Air Force drone and market valuations are weighing on sentiment this Friday. Investors need to be considering how they want their portfolios and assets positioned for the second half 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 ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy. Other analyst calls cover stocks to sell or stocks to avoid.
We have provided these calls in a quick-hit summary for easy reading and additional comments and trading data have been added on some of the calls. The consensus analyst price targets mentioned and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations from Friday, June 21, 2019.
AGNC Investment Corp. (NYSE: AGNC) was started with a Neutral rating at UBS with a $16.50 target. That compares to the Wall Street consensus target of $17.88. The stock was trading at $16.81 early Friday.
Annaly Capital Management Inc. (NYSE: NLY) was started with a Buy rating at UBS with a $9.50 target. That compares to the consensus target on Wall Street of $10.10. The shares are trading at $9.14 this morning.
Barnes & Noble Inc. (NYSE: BKS) was downgraded to Hold from Buy at Gabelli. The shares are trading at $6.68 and the company is being bought out at $6.50 plus the upcoming dividend.
Carnival Corporation (NYSE: CCL) was downgraded to Equal Weight from Overweight at Barclays. The 52-week trading range for the cruise line is $45.64 to $67.59 and the stock was trading early Friday at $47.06 down almost 4%.
Caterpillar Inc. (NYSE: CAT ) was downgraded to Underweight from Equal Weight at Atlantic Equities. That Wall Street consensus price target for the construction machinery giant is $148.65, and the stock is at $132.93 early Friday.
Darden Restaurants Inc. (NYSE: DRI) saw its price target lowered to $126 from $132 at Maxim. That compares with a consensus target of $128.14. The shares were trading at $120.12 early on Friday.
Fiserv Inc. (NASDAQ: FISV) was started with a Buy rating at Raymond James with a $103 price objective. That compares with the Wall Street consensus which is set at $98.65. The stock was trading at $91.46 on Friday.
KeyCorp (NYSE: KEY) is raised to Outperform from Neutral at Baird. The regional banking giant was trading at $17,14 early Friday.
Micron Technology Inc. (NASDAQ: MU) saw its target price lowered to $28 from $32 at Baird. That compares with a consensus target on Wall Street of $44.86. The shares were trading at $33.72 early Friday.
Mustang Bio Inc. (NASDAQ: MBIO) was started with a Buy rating at Cantor Fitzgerald with a $7 target. That compares with a consensus target of a stunning $19.50. The stock was last seen at $3.40 early Friday.
Phillips 66 (NYSE: PSX) is raised to Buy from Neutral at Citigroup. The consensus price target for the company is posted at $116.87. The shares are trading at $91.02 Friday.
Sarepta Therapeutics Inc (NASDAQ: SRPT) is being called among the top picks at Merrill Lynch for the rest of 2019. The biotech has traded between $95.21 and $165.87 over the last year. Shares were last seen at $129.79 Friday.
Sealed Air Corporation (NYSE: SEE) was downgraded to Neutral from Buy at Merrill Lynch. Shares are trading at $41.63 Friday.
Stanley Black & Decker Inc. (NYSE: SWK) was started with an Underperform rating at Merrill Lynch. The stock has a consensus price target on Wall Street of $161.07. Shares were trading at $144.33 early Friday.
In case you missed it, here are Thursday’s top analysts’ upgrades and downgrades. They included Adobe, Apple, Bloom Energy, Commscope, Dell, HP, Oracle, Shopify, Tesla and more.