Stocks had traded lower on Tuesday, but Wednesday’s early indications were to recover about half of those prior losses. After so much volatility, investors should be rethinking and considering how they want their investments and assets positioned for 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is 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.

Additional commentary and trading data have been added on some of the daily analyst reports. 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 Wednesday, January 23, 2019.

Alphabet Inc. (NASDAQ: GOOGL) was maintained as Buy at Deutsche Bank, but the firm lowered its target price down to $1,300 from $1,300 in its call. Alphabet most recently closed at $1070.52, in a 52-week range of $970.11 to $1,273.89. The stock has a consensus price target of $1,328.00.

Amazon.com Inc. (NASDAQ: AMZN) was maintained as Buy at Deutsche Bank, but the firm lowered its target price to $2,250 from $2,300 in the call. Amazon closed down 3.7% at $1,632.13 but was indicated up 1.3% at $1,653.50 on Thursday morning.

Bluebird Bio Inc. (NASDAQ: BLUE) was maintained as Buy but the target price was lowered to $161 from $250 (versus a $125.09 prior close) at Canaccord Genuity.

Callon Petroleum Co. (NYSE: CPE) was raised to Buy from Neutral with an $11 price target (versus an $8.06 close) at Citigroup.

Dell Technologies Inc. (NYSE: DELL) was started with a Buy rating and assigned a $55 target price (versus a $44.06 close) at Citigroup.

Delphi Technologies PLC (NYSE: DLPH) was downgraded to Sector Perform from Outperform at RBC Capital Markets. Shares last closed at $16.26, with a consensus price target of $19.91. The 52-week trading range is $13.18 to $58.67.

D.R. Horton Inc. (NYSE: DHI) was raised to Buy from Neutral with a $45 price target at Mizuho. Shares closed at $36.42, in a 52-week range of $32.39 to $52.74. The consensus price target is $44.53.

Huntington Ingalls Industries Inc. (NYSE: HII) was downgraded to Underweight from Overweight with a $215 target price at Barclays. It closed at $196.50, in a 52-week range of $173.80 to $276.69. The consensus price target is $246.77.

International Business Machines Corp. (NYSE: IBM) shares closed down 1% at $122.52 ahead of earnings, and Big Blue shares were indicated up about 7% at $131.00 on Wednesday morning. Wedbush Securities maintained IBM as Neutral with a $165 price target, noting that structural issues remain. Wells Fargo reiterated its Hold rating.
IBM has a 52-week range of $105.94 to $168.72, and its consensus target price ahead of earnings was $143.84.

International Paper Co. (NYSE: IP) was raised to Overweight from Equal Weight with a $60 target price (versus a $45.74 close) at Stephens.

Kellogg Co. (NYSE: K) was started as Neutral at Guggenheim. The stock closed at $58.70, with a consensus price target of $65.83. The 52-week trading range is $55.11 to $74.98.

Kraft Heinz Co. (NASDAQ: KHC) was started as Neutral at Guggenheim. Shares closed at $47.28, in a 52-week range of $41.60 to $80.59. The consensus price target is $56.33.

Merck & Co. Inc. (NYSE: MRK) was downgraded to Market Perform from Outperform at BMO Capital Markets. Shares closed at $75.83, with a consensus analyst target of $81.54. The stock has a 52-week trading range of $52.83 to $80.19.

Mylan N.V. (NASDAQ: MYL) was downgraded to Neutral from Buy and the price target was slashed to $32 from $54 (versus a $28.89 close) at UBS. The stock was indicated down 0.5% at $28.75 on Wednesday, and its consensus target price was $42.25.

Oasis Petroleum Inc. (NYSE: OAS) was downgraded to Neutral from Buy and the price target was lowered to $7 from $10 (versus a $6.14 close, after a 9.4% drop) at Citigroup.

Pfizer Inc. (NYSE: PFE) was downgraded to Neutral from Buy at UBS. Shares closed at $42.27, in a 52-week range of $33.20 to $46.47. The consensus price target is $45.35.

Scorpio Tankers Inc. (NYSE: STNG) was downgraded to Neutral from Overweight at JPMorgan. Shares closed at $20.03. The consensus price target is $31.92, and the 52-week trading range is $14.80 to $32.50.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Underperform from Sector Perform and the price target was lowered to $245 from $290 at RBC Capital Markets. The stock last closed at $298.92, in a 52-week range of $244.59 to $387.46. The consensus price target is $334.53.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Neutral from Underweight with a $16 price target at Piper Jaffray. UBS started it with a Buy rating, noting that the beaten-down shares are now overpricing concerns about the balance sheet. Shares were indicated up 3% at $19.33 on Wednesday, and the consensus analyst target was $22.35.

Texas Roadhouse Inc. (NASDAQ: TXRH) was downgraded to Hold from Buy at Stifel. The most recent close at $66.00 compares with a consensus price target of $64.40. The 52-week trading range is $53.05 to $75.24.

Toll Brothers Inc. (NYSE: TOL) was downgraded to Neutral from Buy with a $39 target price at Mizuho. Shares closed at $34.49. The 52-week range is $28.68 to $52.37, and the consensus price target is $38.53.

Walmart Inc. (NYSE: WMT) was raised to Overweight from Equal Weight with a $110 target price at Morgan Stanley. The stock closed most recently at $97.49, with a consensus price target of $106.81. The 52-week trading range is $81.78 to $109.98.

Tuesday’s top analyst calls included Altria, Electronic Arts, Embraer, Gap, Kinder Morgan, Netflix, Take-Two Interactive Software, Under Armour and many more.

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