Top Analyst Upgrades and Downgrades: Allstate, Bed Bath & Beyond, Best Buy, Blue Apron, Costco, Home Depot, Microsoft, Take-Two, Target, Walmart and More

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Stocks were indicated to open higher on Thursday with optimism after Federal Reserve Chair Jerome Powell was more dovish on his stance on interest rate cuts. The S&P 500, Dow Jones industrials and Nasdaq are all basically now at all-time highs, and the relentless bull market is well over 10 years old. This is a time when investors have 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 calls cover stocks to sell or 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 and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These are the top analyst upgrades, downgrades and initiations on Thursday, July 11, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Neutral from Underperform at Wedbush Securities. Shares closed up 0.4% at $17.08, in a 52-week range of $14.66 to $30.63 and with a consensus target price of $20.25.

Air Products & Chemicals Inc. (NYSE: APD) was downgraded to Neutral from Buy at UBS, but the firm did raise its target to $240 from $224.

Allstate Corp. (NYSE: ALL) was downgraded to Underperform from Neutral and the target price was lowered to $94 from $10 at Credit Suisse. Shares closed down 0.4% at $104.26, in a 52-week range of $77.00 to $107.43. The consensus target price is $109.07.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) had traded up after reporting a net loss after charges, but it was last seen down about 3% at $11.08 on Thursday. Citigroup maintained it as Neutral but cut the target price to $13 from $18. Goldman Sachs initiated coverage with a Neutral rating and an $11 price target. Shares closed up 0.7% at $11.52. The 52-week range is $10.46 to $20.43, and the consensus target price is $17.14.

Best Buy Co. Inc. (NYSE: BBY) was started as Neutral with a $73 target price at Goldman Sachs. Shares closed at $71.93, in a 52-week range of $47.72 to $84.37 and with a consensus target price of $76.68.

Blue Apron Holdings Inc. (NASDAQ: APRN) was maintained with a Neutral rating at Citigroup, but the firm slashed its target price to $8 from $18.

Cimarex Energy Co. (NYSE: XEC) was downgraded to Market Perform from Outperform at BMO Capital Markets.

Costco Wholesale Corp. (NASDAQ: COST) was started with a Buy rating and a $290 target price at Goldman Sachs. Shares closed up 0.5% at $271.42, in a 52-week range of $189.51 to $271.53. The consensus target price is $253.92.

Endo International PLC (NASDAQ: ENDP) was downgraded to Sector Perform from Outperform and the target price was slashed to $6 from $11 at RBC Capital Markets.

Freeport-McMoRan Inc. (NYSE: FCX) was raised to Buy from Hold and the target price was raised to $13.50 from $12.50 at Deutsche Bank. Shares closed up 0.7% at $10.95, in a 52-week range of $9.47 to $17.80 and with a consensus analyst target of $13.61.

Home Depot Inc. (NYSE: HD) was started as Buy with a $235 target price at Goldman Sachs. Shares closed down 0.6% at $210.75. The 52-week range is $158.09 to $215.43. The consensus target price is $207.93.