Stocks have hit new highs and were looking to open mildly positive on Tuesday after stronger housing data was seen. With the Dow Jones industrials up over 28,000 and the S&P 500 over 3,100, investors are starting to see upside targets issued for 2020. Despite the record levels in recent days and weeks, the investor community still has a lot of pressing issues and risks to consider now that the bull market is over 10 and a half years old. This is a time for investors to consider what changes they should be making for their portfolios and assets heading into late 2019 and as 2020 approaches.
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, while some 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 sell-side research service.
These are the top analyst upgrades, downgrades and initiations for Tuesday, November 19, 2019.
AbbVie Inc. (NYSE: ABBV) was reiterated as Buy and the target price was raised to $96 from $79 (versus an $88.73 prior close) at UBS.
Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Outperform and the target price was raised to $48 from $40 (versus a $39.88 close, after a 3.4% gain).
Allergan PLC (NYSE: AGN) was downgraded to Neutral from Buy with a $203 price target (versus a $184.50 close) at UBS.
Amedisys Inc. (NASDAQ: AMED) was named as the Bull of the Day at Zacks, which said that this home health care stock has generated big growth in 2019. Shares most recently closed at $154.92, with a consensus price target of $152.73.
AT&T Inc. (NYSE: T) was downgraded to Sell from Neutral with a $30 target price at Moffett Nathanson.
Bluebird Bio Inc. (NASDAQ: BLUE) was downgraded to In-Line from Outperform at Evercore ISI.
Broadcom Inc. (NASDAQ: AVGO) was raised to Overweight from Equal Weight and the target price was raised to $367 from $298 at Morgan Stanley. The stock closed down 0.6% at $311.07, and it previously had a $320.74 consensus target price.
Calithera Biosciences Inc. (NASDAQ: CALA) was started as Buy and assigned a $7 target price (versus a $3.38 close) at H.C. Wainwright.
Charles River Laboratories International Inc. (NYSE: CRL) was reiterated with a Buy rating and a $170 target price at Argus.
Energy Transfer L.P. (NYSE: ET) was maintained with a Buy rating but the price target was lowered to $18 from $20 (versus an $11.33 close) at Citigroup.
Ford Motor Co. (NYSE: F) was reiterated as Outperform at Credit Suisse, with the firm saying it walked away from the unveiling of the Mach-E Mustang-inspired SUV/crossover solidly impressed but wants to wait and see how volumes will go and whether it will succeed against Tesla.
Fortinet Inc. (NASDAQ: FTNT) was up 2.2% at $103.84 on Monday, within a 52-week range of $64.41 to $104.35. Several firms have raised target prices: Merrill Lynch to $120 from $110, Cowen to $105 from $88, Mizuho to $102 from $92, Morgan Stanley to $86 from $82 and Barclays to $118 from $105.
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