The markets bounced handily on Tuesday and Wednesday in the post-Brexit aftermath, and shares were only marginally higher on Thursday morning. Investors may have different reasons each time, but they have proven over and over that they will buy their favorite stocks after major sell-offs.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new investing ideas and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while other analyst reports feature stocks to sell or stocks to avoid.
Investors might consider that volatility rarely vanishes in a week, and that limited market participation due to summer and 4th of July vacations may allow things to trade wider than normal. Still, big sell-offs generally bring up great buying opportunities for investors who can afford to take a long-term view of a year or more.
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These are the top analyst upgrades, downgrades and initiations seen from this Thursday morning:
Motorola Solutions, Inc. (NYSE: MSI) was started with a Buy rating and was assigned a $81.00 price target (versus $64.55 close) at Goldman Sachs. Motorola Solutions has a consensus analyst price target of $72.77 and has a 52-week range of $56.40 to $76.83.
Nokia Corp. (NYSE: NOK) was raised to Buy from Hold at Goldman Sachs. Nokia has a clean post-merger balance sheet and is valued cheaply despite European trouble. Nokia closed up 3.3% at $5.54 on Wednesday and was indicated up 1.1% at $5.60 on Thursday. Nokia has a consensus analyst price target of $7.04 and has a 52-week range of $5.01 to $7.63.
Qualcomm Inc. (NASDAQ: QCOM) was downgraded to Market Perform from Outperform with a $55.00 price target of (versus $53.55 close) at Sanford Bernstein. Qualcomm has a consensus analyst price target of $57.19 and has a 52-week range of $42.24 to $66.05.
Silver Wheaton Corp. (NYSE: SLW) was raised to Outperform from Neutral at Credit Suisse, and the price target in Canadian Dollars (C$35 from C$28) implied more than 15% upside. Silver Wheaton’s US shares closed at $22.82 and was indicated up above $23.00, with a consensus price target of $24.48 and a 52-week range of $10.04 to $23.18.
Yamana Gold, Inc. (NYSE: AUY) was raised to Outperform from Neutral and the price target was raised to $6.50 (versus $5.22 close, after a 5.6% gain) at Credit Suisse. The firm sees Yamana riding the gold leverage with opportunities to add underlying value. Yamana Gold has a consensus analyst price target of $5.12 and has a 52-week range of $1.38 to $5.38.
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ProLogis, Inc. (NYSE: PLD) was downgraded to Neutral from Buy at SunTrust Robinson Humphrey. ProLogis closed at $49.11 and has a 52-week range of $35.25 to $50.74.
Other key analyst upgrades and downgrades for Thursday were in shares of the following companies:
Alamos Gold Inc. (NYSE: AGI) was raised to Outperform from Neutral at Credit Suisse and the price target was raised to $11.00 from $7.25 (versus $8.38 close) at Credit Suisse.
Costamare Inc. (NYSE: CMRE) was downgraded to Equal Weight from Overweight and the price target was cut to $7.50 from $12.00 (versus $9.03 close) at Morgan Stanley.
Esperion Therapeutics, Inc. (NASDAQ: ESPR) was downgraded to Equal Weight from Overweight and the price target was slashed by more than half, down to $13.00 from $28.00 (versus $9.66 close) at Barclays.
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First Potomac Realty Trust (NYSE: FPO) was downgraded to Market Perform from Outperform and the price target was cut to $10.25 from $15.00 (versus $9.16 close) at BMO Capital Markets
IAMGold Corp. (NYSE: IAG) was raised to Neutral from Underperform at Credit Suisse.
Southwestern Energy Company (NYSE: SWN) was maintained as Underperform at Jefferies, but the firm raised its price target to $9 from $5 (versus $13.89 close).
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) was downgraded to Market Perform from Outperform at Wells Fargo.
Tesaro, Inc. (NASDAQ: TSRO) was downgraded to Hold from Buy but the price target was raised to $75 from $53 (versus $77.40 close) at Jefferies.
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Additional research oriented news was as follows:
- Investors analysts look very mixed ahead of Micron earnings due today.
- Analyst shows 4 non-Brexit stocks to buy.
- Jefferies has stocks to buy with 8% dividend yields.
- 5 biotechs where pipeline values have been discounted to zero.
Wednesday’s top analyst upgrades and downgrades were in shares of Comerica, Dynegy, Newfield Exploration, NIKE, Oracle and many more.
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