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Top Analyst Upgrades and Downgrades: Altria, ConocoPhillips, First Data, Match Group, NXP Semiconductor, Seattle Genetics and More
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The futures are trading slightly higher Monday morning as investors are hoping for another solid week like the one the markets produced last week, when both the NASDAQ and the Russell 2000 hit new all-time highs. With the second quarter starting to wind down, some of the companies that will be reporting in July could start releasing earnings warnings, so it pays to stay alert now.
Some investors are reconsidering what the nine-year bull market may bring for the rest of 2018 and beyond. It has become very 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 to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls cover stocks to sell or stocks 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 Monday, June 11, 2018:
Altria Group Inc. (NYSE: MO) was started with an Equal Weight rating at Consumer Edge with a $61 price target. That compares with a consensus target on Wall Street of $69.31. The shares ended trading Friday at $57.71.
Apache Corporation (NYSE: APA) is raised to Buy from Hold at Argus with a $56 price target. That competes with the Wall Street consensus target of $46.19. The 52-week trading range for the company is $33.60 to $51.21. The stock closed Friday at $42.24.
Cimarex Energy Co. (NYSE: XEC) is raised to Buy from Hold at Jefferies. The 52-week trading range for the exploration and production company is $82.40 to $130.16. The Wall Street consensus price objective is set at $126.94. The shares ended trading Friday at $85.59.
ConocoPhillips (NYSE: COP) was started with an Outperform rating at BMO Capital Markets with a $74 price target. The Wall Street consensus target for the oil giant is set at $74.35. The shares ended trading Friday at $69.43.
Euronet Worldwide Inc. (NASDAQ: EEFT) was downgraded to Neutral from Buy at Goldman Sachs. It has a $94 price target, which compares with the consensus target across Wall Street of $105.29. The stock ended trading on Friday at $85.98.
First Data Corporation (NYSE: FDC) is raised to Buy from Neutral at Goldman Sachs, with a $25 price objective. The Wall Street consensus target is posted at $22. The shares have traded in a 52-week range of $14.73 to $20.58. The stock ended trading Friday at $20.05.
Match Group Inc. (NASDAQ: MTCH) is raised to Buy from Hold at Jefferies. The 52-week trading range for the online dating giant is $16.57 to $47.85. The consensus price target across Wall Street is set at $43. The stock closed Friday at $41.52.
NXP Semiconductor N.V. (NASDAQ: NXPI) was downgraded to Hold from Buy at SunTrust with a $119 price target. The Wall Street consensus price target for the shares is $120.82. The company is being purchased in a massive $44 billion deal by Qualcomm, so this may just be a valuation call. The stock ended trading on Friday at $120.17.
Oasis Petroleum Inc. (NYSE: OAS) was downgraded to Hold from Buy at Jefferies, with a $14 price target. The Wall Street consensus target is set at $14.56. The shares closed trading on Friday at $12.86.
SemGroup Corporation (NASDAQ: SEMG) was downgraded to Market Perform from Outperform at Wells Fargo. The 52-week trading range is $20.20 to $30.95. The consensus price target for the company is posted at $26.80. The stock ended trading Friday at $25.
Other key analysts upgrades and downgrades were seen in the following:
DTE Energy Inc. (NYSE: DTE) was downgraded to Market Perform from Outperform at Wells Fargo with a $103 price target. That compares with the Wall Street consensus target of $109.27. The shares closed Friday at $96.97.
Incyte Corporation (NASDAQ: INCY) was raised to Outperform from In-line at Evercore ISI. The 52-week trading range for the company is $60.23 to $140.11, and the consensus price target is posted at $81.29. The stock closed Friday at $70.01, and the shares are trading up in pre-market action.
Keane Group Inc. (NYSE: FRAC) was started at New Buy at Goldman Sachs with a $21.50 price target. That compares with the consensus price target of $21.78. The 52-week trading range for the oil field services company is $12.51. To $19.83. The shares closed Friday at $13.53.
Kosmos Energy Ltd. (NYSE: KOS) is raised to Buy from Hold at Jefferies. The 52-week trading range is $5.15 to $8.62. The consensus price target is posted at $8.78. The shares closed Friday at $7.95.
Olin Corporation (NYSE: OLN) was downgraded to Sector Perform from Outperform at RBC Capital Markets. The 52-week trading range is $27.79 to $38.854. The consensus price target for the company is set at $338.57. The stock closed Friday at $33.06.
Park Hotels and Resorts Inc. (NYSE: PK) was downgraded to Sell from Neutral at Goldman Sachs. The 52-week trading range for the shares is $23.91 to $32.92. The consensus price target is $30.96. The stock closed Friday at $31.60.
Seattle Genetics Inc. (NASDAQ: SGEN) is raised to Buy from Hold at SunTrust. The 52-week trading range for the biotech company is $45.31. To $66.94. The consensus price target is set at $65.67. The stock ended trading on Friday at $65.01.
SunPower Corporation (NASDAQ: SPWR) was downgraded to Neutral from Outperform at Baird. The 52-week trading range for the shares is $6.46 to $11.70. The consensus price objective is $8.13. The stock closed Friday ay $7.05.
In case you missed it, here are last Friday’s Analyst Upgrades and Downgrades.
They included ConocoPhillips, Domino’s Pizza, Eli Lilly, Occidental Petroleum, PayPal, Penn National Gaming and more.
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