Stocks were indicated to open sharply higher on Tuesday, but this was after a huge drop on Monday as the U.S./China trade war was kicked up a notch or two. Despite a serious pullback over the past week, stocks only recently hit their all-time highs. This bull market is well over 10 years old, and investors should be considering exactly 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 Tuesday, August 6, 2019.
Anheuser-Busch InBev S.A./N.V. (NYSE: BUD) was downgraded to Neutral from Buy at UBS.
Arch Coal Inc. (NYSE: ARCH) was downgraded to Hold from Buy and the price target was cut to $80 from $115 at Jefferies.
BHP Group Ltd. (NYSE: BHP) was downgraded to Hold from Buy at Jefferies, after it closed down 3.1% at $50.43 and versus a prior consensus target price of $50.28.
Cars.com Inc. (NASDAQ: CARS) was maintained as Buy at Citigroup after poor earnings, but the firm cut its price target to $19 from $27. D.A. Davidson downgraded it to Neutral from Buy. Shares were down 34.5% at $11.82 on Monday.
Cigna Corp. (NYSE: CI) was raised to Outperform from Market Perform at Bernstein. The stock closed down 3.4% at $159.00 on Monday, and the consensus target price was $214.21.
CONSOL Coal Resources L.P. (NYSE: CCR) was downgraded to Hold from Buy and the price target was cut to $16 from $20 at Jefferies.
FireEye Inc. (NASDAQ: FEYE) was started as Buy and the price target assigned as $16 (versus a $13.29 close, after a 3.4% drop) at Nomura/Instinet.
Ford Motor Co. (NYSE: F) closed down just 0.5% at $9.23 on Monday after it was shown that the board chair, William Clay Ford Jr., spent about $8 million on an insider purchase of shares in recent days. Morgan Stanley upgraded Ford to Overweight from Equal Weight and raised the target price to $12 from $10. The prior consensus target price was $10.75.
KLA Corp. (NASDAQ: KLAC) was reiterated as Overweight and the target price was raised to $152 from $149 at KeyBanc Capital Markets. JPMorgan reiterated its Overweight rating and raised its target to $180 from $160. Shares fell 5.21% to $126.46 on Monday after earnings, and the prior consensus target price was $131.15.
L3Harris Technologies Inc. (NYSE: LHX) was started as Overweight and the target price was set at $259 at Morgan Stanley. Shares closed down 1.5% at $210.39.
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