Futures traded higher Tuesday morning, as the third quarter of 2019 is winding down fast. With top hedge fund and mutual fund portfolio managers looking to end the quarter on top, we could see some adding positions for end-of-quarter window dressing. This is a time when investors should be considering exactly how they want their portfolios and assets positioned for the final three months 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, September 24, 2019.
AMC Networks Inc. (NYSE: AMCX) was started with a Market Perform rating at Wells Fargo. The shares have traded in a 52-week range of $8.73 to $20.60, and the consensus price target on Wall Street is $15.92. Shares closed Monday at $49.21.
ASE Technology Holding Co. (NYSE: ASX) was downgraded to Equal Weight from Overweight at Morgan Stanley. Over the past year, the stock has traded between $3.46 and $4.90. The consensus price target is $5.39. Shares ended trading Monday at $4.63.
Apple Inc. (NASDAQ: AAPL) had coverage transferred at Jefferies and was raised from a Hold to a Buy rating. The analysts also raised their price target for the technology behemoth to $260. The consensus target is $224.74, and the stock closed Monday at $218.72.
Blackstone Group Inc. (NYSE: BX) was downgraded to a Perform rating from Outperform at Oppenheimer. The stock has traded between $26.88 and $55.17 over the past 52 weeks. The consensus price objective is $52.82. With the shares closing Monday at $53.30, this could be a valuation call.
CBS Corp. (NYSE: CBS) was started with an Underperform rating and a $41 price objective at Wells Fargo. The consensus figure for the television network is much higher at $57.33. The stock was last seen trading at $41.97.
Clear Channel Outdoor Holdings Inc. (NYSE: CCO) was started with an Outperform rating and a $4 price objective at Wells Fargo. That compares to the lower consensus target of $3.80. The stock was last seen Monday at $2.82.
Clovis Oncology Inc. (NASDAQ: CLVS) was downgraded to Market Perform from Outperform at SVB Leerink. The shares have traded between $4.56 and $34.63 apiece over the past year. The stock last closed at $4.58.
Cutera Inc. (NASDAQ: CUTR) was named as the Bull of the Day at Zacks, which said that this aesthetic laser developer is up big this year, and its new CEO expects continued growth in 2020. The shares most recently closed at $31.17, with a consensus price target of $31.67.
Discovery Inc. (NASDAQ: DISCA) was started with an Outperform rating at Wells Fargo, and the analysts have set a $35 price target. The consensus target is $34.68. The stock closed Monday’s trading at $26.59.