Stocks were indicated to open marginally lower on Tuesday. The market may have taken it on the chin on Monday over trade and currency fears with China, but the 1.2% drop in the S&P 500 and the 1.5% drop in the Dow Jones industrials were more reminiscent of a low-volume summer Monday with no real buyers to support the market. It is important to keep in mind that the markets hit all-time highs in late in July and that the bull market is now sitting at 10 and a half years old. Investors need to 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 13, 2019.
Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Hold rating and assigned a $32 target at Loop Capital. AMD closed down 5.1% at $32.43 ahead of the call, and the prior consensus target price was $33.05.
Apple Inc. (NASDAQ: AAPL) was maintained as Outperform with a $245 price target (versus a $200.48 prior close) at Wedbush Securities, with this call being around the upcoming iPhone and potential impact of tariffs. The consensus target price is $223.03, and the 52-week range is $142.00 to $233.47.
Avangrid Inc. (NYSE: AGR) was downgraded to Neutral from Buy at Citigroup.
Azul S.A. (NYSE: AZUL) was downgraded to Neutral from Buy at Buckingham Research.
Barrick Gold Corp. (NYSE: GOLD) was raised to Buy from Hold with a $22 target at Argus. Shares closed down 1% at $17.96 on Monday but were indicated up 2% at $18.34 on Tuesday, with a consensus target price of $16.93.
Bloom Energy Corp. (NYSE: BE) was maintained as Outperform but the target price was lowered to $12 from $16 at Raymond James. Robert W. Baird maintained its Neutral rating on Bloom but cut its target price to $9 from $16.
Clovis Oncology Inc. (NASDAQ: CLVS) was downgraded to Neutral from Buy and the price objective was slashed to $7 from $13 (versus a $5.67 close) at Merrill Lynch.
Consolidated Water Co. Ltd. (NASDAQ: CWCO) was reiterated as Buy with a $17 price target (versus a $14.17 close) at Janney, with the firm noting that its AEREX results continue to improve.
Darden Restaurants Inc. (NYSE: DRI) was started with a Neutral rating at MKM Partners.
Domino’s Pizza Inc. (NYSE: DPZ) was started with a Neutral rating at MKM Partners.
D.R. Horton Inc. (NYSE: DHI) was started with a Buy rating and assigned a $56 target price at SunTrust Robinson Humphrey. It had a $50.69 consensus target price and its prior closing price was $46.99.
GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) was downgraded to Neutral from Buy at Buckingham Research.