Stocks were entering the last trading day of 2018 on a positive note. That said, the Dow Jones industrial average has seen 350 point drops six times in the past 10 trading days alone, while also having seen its best one-day point gain of all time. The S&P 500 was entering the final trading day of 2018 down by 8% for the year, versus year-to-date performances of −6.7% for the Dow and −4.6% for the Nasdaq Composite. Investors have had to stomach massive volatility waves this year, and they have seen less upside from buying immediately after the big market sell-offs than in prior years. Those same investors have had to decide how they want to be positioned for 2019 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each day to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid. Analyst calls are generally light the last 10 days of each December, but many new 2019 updates are likely to be seen in the coming two to four weeks.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Monday, December 31, 2018.

Atmos Energy Corp. (NYSE: ATO) was reiterated as Buy with a $101 price target (versus a $91.66 prior close) at Argus. The independent research firm sees strong annual earnings comparisons and increased earnings estimates, and it expects the company’s regulated natural gas distribution business to benefit over time from favorable rate regulation and a growing customer base.

Brighthouse Financial Inc. (NYSE: BHF) was reiterated as Neutral with a $35 target price (versus a $31.11 close) at Credit Suisse.

Capital Senior Living Corp. (NYSE: CSU) was reiterated as Market Outperform with an $11 price target (versus a $6.76 prior close) at JMP Securities.

CRISPR Therapeutics A.G. (NASDAQ: CRSP) was reiterated with a Buy rating at SunTrust Robinson Humphrey, and its $26.75 prior close compares with a consensus target price of $63.72.

CSX Corp. (NYSE: CSX) was maintained as Buy at Argus, but the firm did lower its target to $71 from $84. The firm noted that the recent weakness offers a buying opportunity. The shares previously closed at $62.08.

Dicerna Pharmaceuticals Inc. (NASDAQ: DCPH) was raised to Buy from Neutral and the price target was raised to $34 from $27 at B. Riley/FBR. The stock closed at $20.59 a share on Friday, and its prior consensus price target was $51.60.

Editas Medicine Inc. (NASDAQ: EDIT) was reiterated as Buy at SunTrust Robinson Humphrey, with a prior closing price of $20.72 and a consensus target price of $46.71.

iStar Inc. (NYSE: STAR) was raised to Market Outperform from Market Perform with an $11.50 price target at JMP Securities, with the firm noting that the upgrade is based on the pace of its strategic transition and an attractive entry point. The shares closed at $9.21 on Friday, and the consensus target price was $12.50 ahead of this call.

Mallinckrodt PLC (NYSE: MNK) was maintained as Neutral but the price target was slashed to $21 from $37 (versus a $15.95 close) at B Riley/FBR. The consensus target price was $30.63.

Merus N.V. (NASDAQ: MRUS) was reiterated as Outperform with a $34 price target (versus a $13.73 close) at Wedbush Securities. The firm is looking for a data-rich second half of 2019 with catalysts coming from metastatic breast cancer.

Microsoft Corp. (NASDAQ: MSFT) was reiterated as Buy with a $125 price target at Credit Suisse in a year-end review of overseas views on international price increases. Microsoft closed down 0.8% at $100.39 on Friday, and it has a consensus target price of $125.39.

STAG Industrial Inc. (NYSE: STAG) was reiterated as Market Outperform with a $31 price target at JMP Securities. Shares closed at $24.67 on Friday, and they have a $29.58 consensus price target.

Sun Life Financial Inc. (NYSE: SLF) was raised to Buy from Hold with a $39 target at Argus, versus a $32.58 prior close. The firm noted that its price target still implies a discounted forward earnings multiple versus successful peers and that its shares have been punished alongside financials while it has made several small acquisitions that should help to boost earnings per share.

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) was reiterated as Buy at SunTrust Robinson Humphrey, with a prior closing price of $41.87 and a consensus analyst target of $70.53.

Allianz’s chief economic adviser, Mohamed El-Erian, gave an interview with Fox News on Sunday, saying that he does not see a U.S. recession in 2019 but thinks that the volatility will allow for more of the 1,000-point swings in the Dow.

As a reminder, you don’t have to lose your shirt just because you see major drops in the stock market. Here are 10 exchange-traded funds that can help you avoid and even profit from a major stock market crash.

RBC Capital Markets has spoken favorably on gold for 2019 with global economic jitters remaining. The firm noted that gold could face a meaningful rally, as had been seen in 2016, and it sees a return to $1,300 per ounce in early 2019, up from $1,285 currently. Its silver assumptions remain at $16.50 per ounce (versus about $15.50 currently), but RBC noted that it would likely trade in line with gold.

Friday’s top analyst upgrades and downgrades included Adobe, Dell, Diamondback Energy, Lending Tree, Oxford Industries, Philip Morris, Wingstop and many more. Thursday’s top analyst upgrades and downgrades included Altbaba, Autodesk, AutoZone, CBS, Eli Lilly, Lululemon Athletica, Michaels, Target and more.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.