Top Analyst Upgrades and Downgrades: Dropbox, EA, Halliburton, Intuit, Juniper Networks, ProLogis, Silicon Motion, Taiwan Semi, Textron, Vertex and More
Stocks were indicated to have a mixed opening bell on Tuesday, but the S&P 500 was last seen back above 3,000 and is now well within 1% of an all-time high all over again. If things were simple enough, it might feel like all that persistent uncertainty around trade wars, impeachment, armed conflict and even the global slowdown were not really a focus. Ditto for all those media calls for an imminent recession. The 10-year bull market has remained resilient and has managed to climb a wall of worry. This is a time where investors need to be considering how they want their assets positioned for the rest of 2019 and into 2020.
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 for Tuesday, October 22, 2019.
AMC Entertainment Holdings Inc. (NYSE: AMC) was named as the Zacks Bear of the Day stock. The firm said that movie theatres are treading water in the video streaming economy today that is hitting the media segment like a tidal wave. Shares of AMC last closed at $9.22, with a consensus price target of $15.08.
Amphenol Corp. (NYSE: APH) was started with a Neutral rating and a $104 target price (versus a $100.41 prior close) at JPMorgan.
Applied Optoelectronics Inc. (NASDAQ: AAOI) was downgraded to Underweight from Neutral with an $11 target price (versus a $10.84 close) at JPMorgan.
Beyond Air Inc. (NASDAQ: XAIR), formerly AIT Therapeutics, was started with an Outperform rating and a $9 price target at Oppenheimer. Shares closed at $4.36, and the market cap was a mere $47 million.
CryoLife Inc. (NYSE: CRY) was started with an Outperform rating and a $34 price target (versus a $24.00 close) at Oppenheimer.
Dropbox Inc. (NASDAQ: DBX) was raised to Buy from Neutral with a $25 target price (versus an $18.92 close) at Normura/Instinet.
Electronic Arts Inc. (NASDAQ: EA) was downgraded to Equal Weight from Overweight at Barclays.
Halliburton Co. (NYSE: JAL) was reiterated as Outperform at RBC Capital Markets, but its price target was cut to $23 from $28 in the call. Halliburton closed up over 6% at $19.61 on Monday, in a 52-week range of $16.97 to $36.51 and with a prior consensus target price of $27.05.
Intuit Inc. (NASDAQ: INTU) was downgraded to In-Line from Outperform at Evercore ISI.
Juniper Networks Inc. (NYSE: JNPR) was raised to Neutral from Underweight at JPMorgan.
Lloyds Banking Group PLC (NYSE: LYG) was downgraded to Neutral from Buy at Citigroup.
MSC Industrial Direct Co. (NYSE: MSM) was downgraded to Underperform with a $62 target price (versus a $71.11 close) at Wells Fargo.
ProLogis Inc. (NYSE: PLD) was reiterated as Buy and the price target was raised to $101 from $86 at Citigroup.