Stocks were indicated to open higher on Monday with average index gains of about 0.3%, but that will put the S&P 500 back within a hair of all-time highs. Despite all the concerns and all the economic headwinds, those endless media calls for an imminent recession got ahead of themselves. Investors are still awaiting a Federal Reserve rate cut this week, with about a 94% probability that the federal funds rate target will be lowered by 0.25% to a range of 1.50% to 1.75%. Earnings so far have not been as cautious as the street had been prepared for. 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 other ratings changes seen for Monday, October 28, 2019.
Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Outperform with a $39 target price at Wedbush Securities, with the firm noting that this week’s earnings report should have far more positives than the potential headwinds for a strong report and strong guidance.
Alaska Air Group Inc. (NYSE: ALK) was downgraded to Neutral from Overweight with a $76 target price at JPMorgan.
Albermarle Corp. (NYSE: ALB) was downgraded to Underperform from Buy at Merrill Lynch.
American Eagle Outfitters Inc. (NYSE: AEO) was downgraded to Neutral from Buy at Citigroup.
Aprea Therapeutics Inc. (NASDAQ: APRE) was down 0.27% at $25.59 ahead of its quiet period ending. JPMorgan started the shares as Neutral with a $23 target, RBC Capital Markets started it as Outperform with a $33 target price, and Morgan Stanley started it as Equal Weight with a $23 price target.
Avrobio Inc. (NASDAQ: AVRO) was started with a Buy rating and a $35 target price at Nomura/Instinet.
BJ’s Restaurants Inc. (NASDAQ: BJRI) was downgraded to Hold from Buy at Deutsche Bank.
Cabot Oil & Gas Corp. (NYSE: COG) was downgraded to Neutral from Positive at Susquehanna.
Charter Communications Inc. (NASDAQ: CHTR) was reiterated as Strong Buy and the price target was raised to $525 from $460 at Raymond James. Wells Fargo reiterated its Market Perform rating, but the firm raised its target price to $450 from $400, and UBS reiterated its Buy rating and raised its target price to $525 from $435.
Estee Lauder Companies Inc. (NYSE: EL) was downgraded to Neutral from Buy with a $204 target price at Piper Jaffray.
First Solar Inc. (NASDAQ: FSLR) was raised to Outperform from Market Perform with a $70 target price at JMP Securities.
Frequency Therapeutics Inc. (NASDAQ: FREQ) was flat at $14.05 ahead of its quiet period ending. Goldman Sachs started it as Buy with a $30 target price, and JPMorgan started it as Overweight with a $25 target price.
Hasbro Inc. (NYSE: HAS) was named as the Zacks Bear of the Day stock. The firm said that tariffs have greatly affected this toymaker, and both profit and sales took a huge hit in the third quarter. Hasbro also was maintained as Overweight but the target price was lowered to $110 from $135 at KeyBanc Capital Markets. Shares last closed at $96.01, with a consensus price target of $119.14.
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