The futures traded just a touch higher Friday morning as the market continued to digest some big gains from the past two weeks. Stocks took off once again yesterday when the inflation numbers were reported and came in reasonably tame and below expectations, with no big jumps to the upside on costs. The consumer price index rose 0.2% in April, which was below estimates.
Some investors have reconsidered what the nine-year bull market may bring in 2018 and beyond. It has become clear that the multiyear trend of buying pullbacks is now more vulnerable to sellers, volatility and each major news headline. Many investors are finding it harder to decide how they want their assets positioned for the longer term.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing ideas 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 have 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 Friday, May 11, 2018.
AMC Networks Inc. (NASDAQ: AMCX) was raised to Outperform from Market Perform at Wells Fargo. The 52-week trading range is $46.89 to $67.44. The consensus price target on Wall Street is $59.10. The stock closed Thursday at $57.51.
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Alkermes PLC (NASDAQ: ALKS) was started with a Buy rating at Merrill Lynch, which has a $56 price target. That compares with the consensus target of $54.45. The 52-week trading range is $41.15 to $71.22. The stock closed on Thursday at $45.79.
Echostar Corp. (NASDAQ: SATS) was raised to Strong Buy from Buy at Raymond James. The 52-week trading range for the satellite service operations company’s shares is $50.70 to $62.50. The consensus price target is $75.13. The stock closed Thursday at $51.86.
Euronet Worldwide Inc. (NASDAQ: EEFT) was started with a Buy rating at Needham, which has a $100 price target. The consensus target is $106.29, and the 52-week trading range is $70.67 to $101.70. The Needham analyst highlights the company as a global payments company that operates a global network of ATMs, manages one of the largest global money transfer networks, and facilitates other payment services such as prepaid mobile phone reload and gift card processing. The stock closed Thursday at $83.70.
Kohl’s Inc. (NYSE: KSS) was downgraded to Neutral from Outperform at Credit Suisse. The 52-week trading range for the department store chain is $35.16 to $69.48. The consensus price target is $69.76. The stock closed Thursday at $60.53.
L Brands Inc. (NYSE: LB) was downgraded to Neutral from Overweight at Atlantic Equities. The 52-week range for the lingerie retailer is $30.70 to $63.10 a share. The consensus price target is $44.83. The shares ended trading on Thursday at $31.68, down over 7% on the day.
Puma Biotech Inc. (NASDAQ: PBYI) saw its target price lowered to $87 from $95 at Stifel. That compares with a consensus price target of $96. The 52-week trading range for the shares is a stunning $30.30 to $136.90. Wednesday, the company reported first-quarter results that included $66.5 million in revenue and a $24.3 million net loss. Nerlynx revenues of $36 million were below the firm’s $42.1 million estimates but in line with the $36 million consensus estimates. The stock closed Thursday at $51.80, down a whopping 21% on the day.
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U.S. Bancorp Inc. (NYSE: USB) was raised to Buy from Neutral at Citigroup. The 52-week range for the stock is $49.03 to $58.80. The consensus price target is $58.56, and the stock closed trading on Thursday at $51.17.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) was raised to Overweight from Equal Weight at Barclays. The 52-week trading range for the biotech company is a wide $28.82 to $92.98. The consensus price target is posted at $88.47. The stock closed Thursday at $90.32, but it traded 2% higher in Friday’s premarket action.
Other key analysts upgrades and downgrades were seen in the following.
Choice Hotels International Inc. (NYSE: CHH) was downgraded to Market Perform from Outperform at Wells Fargo. The 52-week trading range is $59.60 to $85.50. The consensus price objective is $81.89. The stock closed trading Thursday at $83.20, so a possible valuation call.
Cision Ltd. (NASDAQ: CISN) was started with an Outperform rating and a $16 price target at BMO Capital Markets. The consensus target is higher at $19. The 52-week trading range is $10 to $14.19. The shares closed on Thursday at $13.48.
Coty Inc. (NYSE: COTY) was downgraded to Neutral from Buy at Deutsche Bank. The 52-week trading range is $14.09 to $21.68. The consensus price target is $20.16. The shares ended trading Thursday at $14.50.
Dexcom Inc. (NASDAQ: DXCM) was started with a Buy rating and a $100 price objective at Merrill Lynch. The consensus target is much lower at $82.55. The 52-week trading range is $42.62 to $88.09, and shares ended trading on Thursday at $84.56.
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Jacobs Engineering Group Inc. (NYSE: JEC) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range is $49.31 to $72.18. The consensus price target is set at $73.21. The stock ended trading Thursday at $63.76.
Lincoln National Inc. (NYSE: LNC) was resumed in coverage at Barclays with an Overweight rating and an $88 price target. The consensus target is $86.62, and the 52-week trading range is $63.10 to $86.68. The shares ended Thursday at $67.68.
Mercer International Inc. (NASDAQ: MERC) was raised to Outperform from Neutral at Credit Suisse. The 52-week trading range for the stock is $10.45 to $15.00. The consensus price target is $17.50, and shares closed on Thursday at $14.55.
Presidio Inc. (NASDAQ: PSDO) was downgraded to Sector Perform from Outperform at RBC Capital Markets, as well as to Market Perform from Outperform at Wells Fargo. On Thursday, the company reported earnings that obviously came in disappointing. The 52-week trading range is $12.75 to $19.74, and the consensus price target is $18. The shares closed Thursday at $15.45.
TriCo Bancshares Inc. (NASDAQ: TCBK) was started with a Buy rating and a $43 price target at Stephens. That compares with the consensus target of $43.40. The 52-week trading range is $33.36 to $46.80. Shares closed Thursday at $37.32.
In case you missed it, Tuesday’s top analyst upgrades and downgrades included Andeavor, Cimarex Energy, Groupon, Macy’s, Marathon Petroleum, Match Group, Republic Services and many more.
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