The futures looked solidly higher Tuesday morning as investors continued to digest Monday’s massive sell-off, which started the second quarter off on a rather sour note. Continued worries over trade and weakness in technology were the main excuses for the selling. The Dow Jones industrial average, S&P 500 and Nasdaq are officially in the 10% correction territory now for 2018.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Others cover stocks to sell or to avoid.
Additional color and commentary has been added on some of these daily analyst calls. The consensus analyst price target data are from the Thomson Reuters sell-side research service.
These were the top analyst upgrades, downgrades and other research calls from Tuesday, April 3, 2018.
AngioDynamics Inc. (NASDAQ: ANGO) was raised to Outperform from Market Perform at Raymond James. The 52-week trading range is $14.80 to $18.85. The Wall Street consensus price target is posted at $16.33. The shares closed above that level Monday at $17.42 and are higher in the premarkets as the company beat earnings expectations on Monday.
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Canadian National Railway Co. (NYSE: CNI) was raised to Outperform from Market Perform at Raymond James. The 52-week trading range for the stock is $70.59 to $85.73. The consensus price target is set at $80.81. The shares closed Monday at $72.85.
Commercial Metal Inc. (NYSE: CMC) was downgraded to Neutral from Buy at Citigroup. The 52-week trading range is $17.05 to $26.72. The consensus price objective is posted at $26.44. The stock closed Monday at $19.92.
Eldorado Resorts Inc. (NASDAQ: ERI) was raised to Outperform from Neutral at Macquarie. The 52-week trading range for the casino and lodging stock is $17.30 to $38.45. The consensus price target is $39.50. The shares closed trading on Monday at $32.10.
GameStop Inc. (NYSE: GME) was downgraded to Hold from Buy at Loop Capital. The 52-week trading range is $12.50 to $25.31, and the consensus price target is $20.40. The shares closed trading on Monday at $12.82.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was started with a Buy rating at Rosenblatt with a $27 price target. That compares with the analysts’ consensus target of $27.59. The 52-week trading range is $14.58 to $25.18. The stock closed trading Monday at $20.20.
Spotify Technology S.A. (NYSE: SPOT) saw its target price started at $175 at Guggenheim. The largest music streaming entity will begin trading Tuesday as a direct listing. The New York Stock Exchange has established a reference price for the company ahead of trading at $132. The direct listing means no investment banks were involved, no shares will be added to the float and there will be no lockup period.
United States Steel Corp. (NYSE: X) was raised to Buy from Neutral at Citigroup. The 52-week trading range for the venerable steel giant is $18.55 to $47.64. The consensus price target is $48.07, and the stock closed Monday at $34.22.
Weatherford International Ltd (NYSE: WFT) was downgraded to Neutral from Buy at Jefferies. The 52-week trading range for the shares is $2.08 to $6.86. The consensus price target for oilfield services firm is $4.87. The shares closed Monday near the 52-week low, at $2.16, so a rather surprising downgrade here.
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Other key analysts upgrades and downgrades were seen in the following.
Altice USA Inc. (NASDAQ: ATUS) was started with an Outperform rating at Macquarie with a target price of $23.50. That compares with a consensus target of $28.71. The 52-week trading range is $17.58 to $35.29. The stock closed Monday at $18.29.
America Movil S.A. (NYSE: AMX) was started with a Buy rating at Goldman Sachs with a $25 price target. That compares with a consensus target of $18.85. The 52-week trading range is $14.09 to $19.52. Shares closed Monday at $18.72.
California Water Service Group (NYSE: CWT) was raised to Market Perform from Underperform at Wells Fargo. The 52-week trading range is $32.75 to $46.15. The consensus price objective is $36.60, and the stock closed Monday at $35.65.
Compass Minerals International Inc. (NYSE: CMP) was started with an Overweight rating at Stephens. The 52-week trading range is $56.50 to $76.65. The Wall Street consensus price objective is posted at $70.57. The stock closed trading on Monday a $59.50.
HFF Inc. (NYSE: HF) was started with a Sell rating and a $41 price target at Goldman Sachs. That compares to the consensus target of $50. The 52-week trading range is $25.85 to $51.74. The stock closed Monday at $49.60.
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Oasis Petroleum Inc. (NYSE: OAS) was raised to Outperform from Neutral at Seaport Global Securities. The 52-week trading range is $6.69 to $15.77, and the consensus price target is $12.35. The shares closed Monday at $7.77, down over 4% on the day.
Red Rock Resorts Inc. (NASDAQ: RRR) was downgraded to Neutral from Outperform at Macquarie. The 52-week trading range is $21.41 to $35.77. The consensus price target is posted at $35.60. The shares ended trading on Monday at $28.47.
Trimas Corp. (NASDAQ: TRS) was started with an Outperform rating at BMO Capital Markets. The $33 price target compares with the consensus target of $27.50. The 52-week trading range is $19.75 to $28.85. Shares closed Monday at $25.25.
United Therapeutics Inc. (NASDAQ: UTHR) is raised to Neutral from Underperform at Credit Suisse. The 52-week trading range is $106.30 to $152.55. The consensus price target is $126.17. The stock closed Monday at $107.42, down almost 5%.
In case you missed it, here are Monday’s top analyst upgrades and downgrades. They included Agilent, Allstate, ADP, Baker Hughes, Cardinal Health, Comcast, FitBit, Humana, Tesla and more.
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