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Top Analyst Upgrades and Downgrades: Barrick Gold, Buckeye Partners, Interdigital, Penn Virginia, SeaWorld, Weight Watchers and More
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Futures are trading somewhat higher this morning, perhaps marking the apparent initial success of the summit that was held in Singapore between President Donald Trump and North Korean leader Kim Jong Un. Diplomacy aside, most of Wall Street is focused on the Federal Reserve meeting this week, and the potential for another increase in the federal funds rate.
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 of the week to find new investing ideas and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls cover stocks to sell or shares to avoid.
Additional color and commentary has been added to some of these daily analyst calls. The consensus analyst price target data comes from Thomson Reuters’ sell-side research service.
These were the top analyst upgrades, downgrades and other research calls on Tuesday, June 12, 2018:
Barrick Gold Corporation (NYSE: ABX) was downgraded to underweight from equal weight at Morgan Stanley. The 52-week trading range for the company’s shares has been $11.07 to $18.35. The Wall Street consensus price target for the mining giant is $15.75. The stock’s price at the close of trading on Monday was $13.20.
Buckeye Partners L.P. (NYSE: BPL) was downgraded from buy to neutral at UBS. The 52-week trading range for shares of the energy master limited partnership has been $35.24 to $65.90. The Wall Street consensus price target is $44.79. The company’s share price at Monday’s trading close was $37.38.
DCP Midstream LP (NYSE: DCP) was downgraded to underweight from equal weight at Barclays. The 52-week trading range has been $29.70 to $42.79. The consensus price target on Wall Street is $40.93. The price of shares was right near that level, at $40.91, at Monday’s close.
Franklin Financial Network Inc. (NYSE: FSB) was downgraded to sell from neutral at Compass Point. The stock has traded in a 52-week range of $30.30 to $42.65. The consensus price target for the company across Wall Street is $37.80. The stock closed Monday at $39.40, a rise of more than 5%.
InterDigital Communication Inc. (NASDAQ: IDCC) was started with a buy rating at Roth Capital with a $104 price target. That compares with the consensus target on Wall Street of $92. The shares closed trading on Monday at $82.60.
Newmont Mining Corporation (NYSE: NEM) was raised to overweight from equal Weight at Morgan Stanley. Shares have traded over a 52-week range at $41.42 to $42.04. The consensus price target for the company is $44.47. The stock closed Monday at $38.57.
Penn Virginia Corporation (NASDAQ: PVAC) was started with a buy rating at Ladenburg Thalmann with a $100 price objective. In comparison, the Wall Street consensus price target is much lower, at $67.50. The price of shares at the end of trading on Monday was $77.82.
SeaWorld Entertainment Inc. (NYSE: SEAS) was downgraded to sell from neutral at Citigroup. The 52-week trading range for the company’s shares has been $10.42 to $21.29. The consensus price target for the shares is $17. The stock closed trading on Monday at $21.01.
Stemline Therapeutics Inc. (NASDAQ: STML) was started with a buy rating at Roth Capital with a $30 price target. That compares with the Wall Street consensus target of $36. The 52-week trading range for the company’s shares has been $7.30 to $20.55. The shares closed trading on Monday at $17.90.
Weight Watchers International Inc. (NYSE: WTW) was started with an overweight rating at J.P. Morgan with a $105 price target. The Wall Street consensus price objective has been set lower, at $100.80. The stock ended trading on Monday at $86.90, but is trading solidly higher in pre-market action.
Other key analysts upgrades and downgrades are as follows:
Berkshire Hills Bancorp Inc. (NYSE: BHLB) was downgraded to sell from neutral at Compass Point. The 52-week trading range for the bank’s shares has been $32.85 to $44.10. The consensus price target on Wall Street is $42.54. The shares closed on Monday at $42.85.
ComScore Inc. (NASDAQ: SCOR) was started with a buy rating at Loop Capital with a $32 price target. That compares with the Wall Street consensus target of $22. The stock closed trading on Monday at $23.57.
Eagle Pharmaceutical Inc. (NASDAQ: EGRX) was started with an overweight rating at Cantor Fitzgerald with a price target of $81. That competes with a consensus target on Wall Street of $68.67. The stock’s price at Monday’s market close was $71.49.
Enable Midstream Partners LP (NYSE: ENBL) is raised to equal weight from underweight at Barclays. The 52-week trading range for the stock has been $12.89 to $17.67. The consensus price target is set at $17.18. The price of shares at the market’s close on Monday was $17.02.
MakeMyTrip Limited (NASDAQ: MMYT) was downgraded to neutral from buy at Goldman Sachs. The stock’s price over a 52-week range has been $22.40 to $41.30. The consensus price target is set at $37.59. With the shares closing at $41.05, this could be a valuation call.
SemGroup Corporation (NASDAQ: SEMG) was started with a market perform rating at BMO Capital Markets with a $25 price target. The consensus target across Wall Street is $26.80. The stock closed Monday at $25.15.
Turkcell Iletisim Hizmetleri A.S. (NASDAQ: TKC) was started with an overweight rating at J.P. Morgan. The 52-week trading range for the company’s shares has been $6.33 to $11.29. The consensus price target is $10.94. The shares ended trading on Monday at $6.58.
United Fire Group Inc. (NASDAQ: UFCS) was downgraded to hold from buy at Sandler O’Neill. The 52-week trading range for the shares has been $38.95 to $58.46. The stock closed Monday at $56, so this could be another valuation call.
In case you missed it, here are Monday’s analyst upgrades and downgrades.
They included Altria, ConocoPhillips, First Data, Match Group, NXP Semiconductor, and Seattle Genetics.
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