Stocks were indicated to open higher on Tuesday after Monday’s index gains were a boost during earnings season. Despite profit-taking on some of the market’s key stocks last week, the major indexes remain close to all-time highs. This is a time when investors have many reasons to remain cautious, but they also need to 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. Our goal is 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, July 23, 2019.
Brinker International Inc. (NYSE: EAT) was started as Sector Weight at KeyBanc Capital Markets. Shares closed up 2.4% at $40.57, in a 52-week range of $36.82 to $53.61. The consensus target price is $45.28.
Broadcom Inc. (NASDAQ: AVGO) was started as Outperform with a $320 target price at RBC Capital Markets. Shares closed up 2.1% at $296.15, in a 52-week range of $202.77 to $323.20. The consensus target price is $303.21.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was downgraded to Hold from Buy at HSBC. Shares closed up 0.6% at $65.55, in a 52-week range of $56.73 to $83.30. The consensus target price is $68.13.
Columbia Sportswear Co. (NASDAQ: COLM) was raised to Buy from Neutral at Merrill Lynch. Shares closed down 1.7% at $102.17, in a 52-week range of $80.03 to $109.74. The consensus target price is $117.58.
Darden Restaurants Inc. (NYSE: DRI) was started as Overweight at KeyBanc Capital Markets, which also set its target price at $140.
Digital Realty Trust Inc. (NYSE: DLR) was downgraded to Market Perform from Outperform at Cowen. Shares closed flat at $117.57, in a 52-week range of $100.05 to $125.15. The consensus target price is $127.35.
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) was raised to Overweight from Neutral and its target price was raised to $16 from $8 at JPMorgan.
Murphy Oil Corp. (NYSE: MUR) was raised to Buy from Neutral with a $30 target price at Goldman Sachs. Shares closed up 2.5% at $22.10, in a 52-week range of $21.21 to $36.53. The consensus target price is $30.92.
RealReal Inc. (NASDAQ: REAL) was started as Buy with a $30 target at Stifel, and UBS also started it as Buy with a $30 target. KeyBanc started coverage with an Overweight rating and a $31 target price, while Raymond James started it as Market Perform. Shares closed up 2.7% at $24.79. The 52-week range is $1.04 to $200.00.
Snap Inc. (NYSE: SNAP) was started as Buy with an $18 target at Rosenblatt Securities, and Stifel raised it to Buy from Hold with a $17 target. Shares closed up 0.9% at $14.15, in a 52-week range of $4.82 to $16.24. The consensus analyst target is $13.20.
Sprouts Farmers Market Inc. (NASDAQ: SFM) was downgraded to Perform from Outperform at Oppenheimer. Shares closed down 4.8% at $17.29, in a 52-week range of $17.26 to $29.67. The consensus target price is $23.00.
Twitter Inc. (NYSE: TWTR) was started as Neutral and assigned a $38 price target at Rosenblatt Securities. Shares closed up 2.2% at $37.58, in a 52-week range of $26.19 to $44.39. The consensus target price is $39.87.
Zions Bancorp. (NASDAQ: ZION) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods and to Market Perform from Outperform at Wells Fargo. Wedbush Securities also lowered its earnings estimates, noting that lower rates are going to pose a problem for Zions. Shares closed down 1.9% at $45.23, in a 52-week range of $38.08 to $54.76. The consensus target price is $51.87.
Zacks has named Delta Air Lines Inc. (NYSE: DAL) as its Bull of the Day, saying that it is considered by many Americans to be not only the largest airline but the best one to fly. Not to mention, sell-side analysts have been bullish on Delta. The Bear of the Day is Potbelly Corp. (NASDAQ: PBPB). Zacks noted that investors have lost their appetite, with the stock tumbling 45% since the beginning of the year. Also, sales have slowed as the firm’s profitability turns negative.
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Monday’s top analyst calls included Advanced Micro Devices, Amazon.com, Autodesk, Charles Schwab, Intel, Micron Technology, Regions Financial, Stitch Fix, Uber and many more.