With the trading day more than halfway over, the broad markets were dragging. The Dow Jones industrial average and the S&P 500 notched losses of 0.8% and 0.4%, respectively, while the Nasdaq was holding relatively flat. A few analysts pointed to a weak jobs print that came out early Wednesday morning, offsetting fairly strong earnings.
24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.
For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Wednesday that included Chevron, Clorox, Schlumberger, Under Armour and more.
Akamai Technologies Inc. (NASDAQ: AKAM): Needham downgraded the stock to a Hold rating from Buy. The shares were changing hands at around $112 apiece on Wednesday, in a 52-week trading range of $92.64 to $124.91.
American Water Works Co. Inc. (NYSE: AWK): Janney downgraded it to Neutral from Buy but raised the price target to $181 from $159. Shares traded near $174 on Wednesday, in a 52-week range of $131 to $176.84. They have a consensus price target of $165.71.
Camping World Holdings Inc. (NYSE: CWH): Robert Baird’s upgrade to Outperform from Neutral included a $56 price target. Shares traded near $43 on Wednesday, in a 52-week range of $22.60 to $49.20. The consensus price target is $55.00.
Lattice Semiconductor Corp. (NASDAQ: LSCC): Benchmark resumed coverage with a Buy rating and the price target raised to $66 from $55. The stock was trading at around $57 a share on Wednesday, in a 52-week range of $26.14 to $59.32.
Nvidia Corp. (NASDAQ: NVDA): Rosenblatt reiterated a Buy rating and raised the price target to $250 from $200. The stock was changing hands near $201 a share on Wednesday, in a 52-week range of $107.96 to $208.75.
Pinnacle West Capital Corp. (NYSE: PNW): KeyBanc Capital Markets lowered its Sector Weight rating to Underweight with a $72 price target. Barclays downgraded the stock to Equal Weight from Overweight and cut the price target to $84 from $100. The stock traded near $77 on Wednesday, in a 52-week range of $69.29 to $91.88.
Simon Property Group Inc. (NYSE: SPG): The BofA Securities upgrade to Buy from Neutral included a price target hike to $150 from $141. The stock traded near $130 on Wednesday, in a 52-week range of $59.35 to $136.70. Its consensus price target is $138.71.
Victoria’s Secret & Co. (NYSE: VSCO): BofA Securities and Wells Fargo each initiated coverage, the former with a Buy rating and a $75 price target and the latter at Overweight with a $100 price target. The stock was trading at around $60 a share on Wednesday, in a 52-week range of $39.79 to $64.48.
Four big pharmaceutical stocks are rated Buy by top Wall Street firms and look like very good ideas for investors, especially now that the market is overbought and the slow seasonal market months are right around the corner. They are classic defensive names that will hold up much better than crowded momentum stocks when the inevitable correction comes.