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Top Analyst Upgrades and Downgrades: AMC Networks, Kinder Morgan, Lam Research, MGM Resorts, Spotify and More
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The futures looked slightly higher Tuesday morning as investors tried to digest a massive Monday sell-off that briefly put some indices again in correction mode for the year. While the trade and tariff issues remain the number one concern on investors’ minds, it should be noted this is the final trading week for the second quarter. Many portfolio managers may be taking profits in an effort to secure a positive quarter for their investors.
Many investors are now 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 every pullback 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 our readers. Some of the top analyst reports cover stocks to buy. Other analyst calls 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 Tuesday, June 26, 2018.
AMC Networks Inc. (NASDAQ: AMCX) was downgraded to Neutral from Buy at Goldman Sachs. The 52-week trading range for the shares is $46.89 to $69.02, and the Wall Street consensus price target is $61.63. The stock closed Monday’s trading at $64.72, so this may be a straight valuation call.
Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Hold rating at Benchmark. The 52-week trading range is $9.04 to $17.34, and the consensus price target is posted at $14.87. The shares closed Monday at $15.11.
Ascendis Pharmaceutical A/S (NASDAQ: ASND) was started with a Buy rating and an $85 price objective at Stifel. That compares to the consensus target of $81.69. The Stifel team views company’s proprietary TransCon technology as game-changing in its potential to fix the pharmacokinetic and related clinical shortcomings of both currently approved blockbuster drugs as well as others in development. The stock closed Monday at $65.89.
At Home Group Inc. (NASDAQ: HOME) was raised to Overweight from Equal Weight at Morgan Stanley. The stock had traded in a range of $20.07 to $39.31 over the past year. The consensus price target is $41.56, and the stock ended trading on Monday at $36.37.
Avis Budget Inc. (NYSE: CAR) was resumed in coverage at Morgan Stanley with an Underweight rating and a $30 price target. That compares with the Wall Street target of $51. The shares closed Monday at $38.66, down almost 8% on the day.
Kinder Morgan Inc. (NYSE: KMI) was raised to Outperform from Market Perform at Bernstein. The 52-week trading range is $14.69 to $21.25, and the consensus price target is $20.55. The stock closed Monday at $17.17.
Lam Research Corp. (NASDAQ: LRCX) was raised to Buy from Hold at UBS. The stock has traded in a 52-week range of $139.24 to $234.88. The consensus price target for the semiconductor capital equipment company is $266. The stock closed Monday at $171.01.
MGM Resorts International (NYSE: MGM) was downgraded to Neutral from Buy at Goldman Sachs and was removed from the Conviction Buy List. The stock has traded in a 52-week range of $28.94 to $38.41, and the consensus price target is $38.47. The shares closed Monday at $29.27.
Spotify Technology S.A. (NYSE: SPOT was started with an Overweight rating and a $210 price target at Barclays. The consensus price target for the music streaming leader is $158.32. The stock closed Monday at $170.37, down almost 6% on the day.
Wyndham Hotels & Resorts Inc. (NYSE: WH) was added to the prestigious Conviction Buy List at Goldman Sachs. The 52-week trading range is $57.29 to $66.95, and the consensus price target is set at $74. The stock closed Monday at $61.90.
Other key analysts upgrades and downgrades were seen in the following:
Ameris Bancorp (NASDAQ: ABCB) was downgraded to Hold from Buy at SunTrust. The stock has traded in a 52-week range of $41.05 to $59.05, and the consensus price target is $60.50. The stock closed trading Monday at $56.05.
CenturyLink Inc. (NYSE: CTL) was raised to Buy from Hold at Jefferies. The stock has traded between $13.16 and $25.13 over the past year. The consensus price target is $19.89, and the stock closed Monday at $18.78.
Cleveland-Cliffs Inc. (NYSE: CLF) was started with an Outperform rating at Macquarie. The stock has traded in a 52-week range of $5.60 to $9.15, and the consensus price objective is set at $9.67. The shares closed Monday at $8.40.
Incyte Corp. (NASDAQ: INCY) was downgraded to Sector Perform from Outperform at RBC Capital Markets. The 52-week trading range is $60.23 to $140.11. The consensus price target is set at $83.86. Shares closed most recently at $71.73.
Lending Tree Inc. (NASDAQ: TREE) was downgraded to Neutral from Buy at Compass Point. The stock has traded in a stunning 52-week range of $166.45 to $404.20, and the consensus price objective was last seen at $329.50. The stock closed Monday at $246.75, down over 4%.
Sirius XM Holdings Inc. (NASDAQ: SIRI) was downgraded to Underweight from Equal Weight at Barclays. The satellite radio giant has traded in a 52-week range of $5.17 to $7.70 a share. The consensus price target is $6.53, but the stock ended trading on Monday at $7.06.
Square Inc. (NYSE: SQ) was downgraded to Equal Weight from Overweight at Stephens. The 52-week trading range for the stock is $22.66 to $69.40, and the consensus price target is $55.16. With the shares closed Monday at $61.89, down almost 6%, so this could be a valuation call.
United Community Banks Inc. (NASDAQ: UCBI) was downgraded to Hold from Buy at SunTrust. The shares have traded between $24.47 and $34.18 over the past year. The consensus price target is $36.67, and the shares ended Monday at $32.38.
In case you missed it, Monday’s top analyst upgrades and downgrades included Alibaba, CarMax, Nike, Radware, Under Armour and many more.
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