The futures traded slightly higher Thursday morning as investors digested Wednesday’s huge rally, which basically rode on the back of the political situation in Italy cooling off some and Italian sovereign bond yields, which had skyrocketed, coming back to earth some.
Some investors are reconsidering what the nine-year bull market may bring for the rest of 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 and trading ideas for 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.
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These were the top analyst upgrades, downgrades and other research calls from Thursday, May 31, 2018.
Biogen Inc. (NASDAQ: BIIB) was raised to Buy from Hold at Canaccord Genuity. The 52-week trading range for the biotech giant is $248.61 to $370.57. The Wall Street consensus price target is set at $350.04. The shares closed Wednesday at $294.40, up almost 3% on the day, and were also higher in premarket action Thursday morning.
Box Inc. (NYSE: BOX) was downgraded to Neutral from Buy at Rosenblatt. The 52-week trading range for the stock is $17.25 to $28.68. The consensus price target is posted at $26.64. The shares closed trading Wednesday at $27.78, so this is possibly a straight valuation call.
Corning Inc. (NYSE: GLW) was raised to Overweight from Equal Weight at Morgan Stanley. The 52-week range for shares of the fiber optics pioneer is $26.11 to $35.10. The consensus price target is set at $33.09, and the shares closed Wednesday at $26.35.
DSW Inc. (NYSE: DSW) was downgraded to Neutral from Positive at Susquehanna. The 52-week trading range for the stock is $15.14 to $26.45, and the consensus price target is $22.91. The stock closed Wednesday at $24.61, down almost 6% on the day despite the company posting solid results.
GrubHub Inc. (NYSE: GRUB) was resumed in coverage with a Buy rating at Canaccord Genuity, which put a $130 price target on the shares. That compares with the consensus target of $104.45. The stock closed trading on Wednesday at $107.54 per share.
Hyatt Hotels Inc. (NYSE: H) was started with a Hold rating at Jefferies, which put an $85 price target on the shares. That compares with the consensus target of $86.56. The stock closed Wednesday at $82.02.
PACCAR Inc. (NASDAQ: PCAR) was downgraded to Neutral from Buy at Goldman Sachs. The 52-week range is $60.36 to $79.69, and the consensus price target is $72.75. The stock closed Wednesday at $64.27.
Quality Systems Inc. (NASDAQ: QSII) was raised to Overweight from Neutral at Cantor Fitzgerald. The 52-week trading range is $12.24 to $17.74. The consensus price target is set at $14.38, and the shares ended trading on Wednesday at $16.83.
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Verint Systems Inc. (NASDAQ: VRNT) was raised to Outperform from In-line at Imperial Capital. The firm also raised the price target from $47 to $49.50. That compares with the consensus target of $49.20. Much of the firm’s optimism centers around improving margins in the Cybersecurity division and a greater percentage of more predictable, medium-sized contracts division. The stock closed Wednesday at $42.35.
Zillow Group Inc. (NASDAQ: ZG) was resumed in coverage with a Buy rating and a $65 price target at Canaccord Genuity. That compares with the consensus target of $56.06. The stock closed Wednesday at $57.38.
Other key analysts upgrades and downgrades were seen in the following.
Arconic Inc. (NYSE: ARNC) was downgraded to Hold from Buy at Argus. The 52-week trading range is $16.66 to $31.57, and the consensus price target is $23.11. The shares ended trading on Wednesday at $18.12.
Arena Pharmaceuticals Inc. (NASDAQ: ARNA) was started with an Outperform rating and a $64 price target at RBC Capital Markets. That compares with the consensus target of $61.50. The shares closed trading on Wednesday at $44.24.
Avalon Bay Communities Inc. (NYSE: AVB) was downgraded to Neutral from Buy at BTIG Research. The 52-week trading range for the shares is $152.65 to $199.52, and the consensus price target is $186.50.
Belmond Ltd. (NYSE: BEL) was started with a Hold rating and a $13 target price at Jefferies. That compares with a consensus price objective of $12.67. The stock closed Wednesday at $13.05.
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First Hawaiian Inc. (NASDAQ: FHB) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range for the Honolulu-based bank is $26.30 to $32.36. The consensus price target is set at $31.90, and the shares closed Wednesday at $29.21.
Momo Inc. (NASDAQ: MOMO) was raised to Buy from Neutral at UBS. Its 52-week trading range is $22.49 to $46.69, and the consensus price objective is $46.81. The stock closed Wednesday at $43.13.
SS&C Technologies Holdings Inc. (NASDAQ: SSNC) was started with an Outperform rating and a $60 price target at Credit Suisse. The consensus target is $58.27, and the stock closed Wednesday at $49.81.
Sunstone Hotel Inc. (NYSE: SHO) was started with a Hold rating and a $17 price target at Jefferies. That compares with a consensus target of $16.04. The 52-week trading range is $14.09 to $17.49, and the stock closed Wednesday at $17.42.
In case you missed it, Wednesday’s top analyst upgrades and downgrades included AbbVie, Apple, Broadcom, Exxon Mobil, Fabrinet, HP, Match, Target and more.
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