Futures traded higher Tuesday morning, as the third quarter of 2019 is winding down fast. With top hedge fund and mutual fund portfolio managers looking to end the quarter on top, we could see some adding positions for end-of-quarter window dressing. This is a time when investors should be considering exactly how they want their portfolios and assets positioned for the final three months of 2019 and beyond.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy. Other calls cover stocks to sell or to avoid.
We have provided these calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on some of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.
These are the top analyst upgrades, downgrades and initiations on Tuesday, September 24, 2019.
AMC Networks Inc. (NYSE: AMCX) was started with a Market Perform rating at Wells Fargo. The shares have traded in a 52-week range of $8.73 to $20.60, and the consensus price target on Wall Street is $15.92. Shares closed Monday at $49.21.
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ASE Technology Holding Co. (NYSE: ASX) was downgraded to Equal Weight from Overweight at Morgan Stanley. Over the past year, the stock has traded between $3.46 and $4.90. The consensus price target is $5.39. Shares ended trading Monday at $4.63.
Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) had coverage transferred at Jefferies and was raised from a Hold to a Buy rating. The analysts also raised their price target for the technology behemoth to $260. The consensus target is $224.74, and the stock closed Monday at $218.72.
Blackstone Group Inc. (NYSE: BX) was downgraded to a Perform rating from Outperform at Oppenheimer. The stock has traded between $26.88 and $55.17 over the past 52 weeks. The consensus price objective is $52.82. With the shares closing Monday at $53.30, this could be a valuation call.
CBS Corp. (NYSE: CBS) was started with an Underperform rating and a $41 price objective at Wells Fargo. The consensus figure for the television network is much higher at $57.33. The stock was last seen trading at $41.97.
Clear Channel Outdoor Holdings Inc. (NYSE: CCO) was started with an Outperform rating and a $4 price objective at Wells Fargo. That compares to the lower consensus target of $3.80. The stock was last seen Monday at $2.82.
Clovis Oncology Inc. (NASDAQ: CLVS) was downgraded to Market Perform from Outperform at SVB Leerink. The shares have traded between $4.56 and $34.63 apiece over the past year. The stock last closed at $4.58.
Cutera Inc. (NASDAQ: CUTR) was named as the Bull of the Day at Zacks, which said that this aesthetic laser developer is up big this year, and its new CEO expects continued growth in 2020. The shares most recently closed at $31.17, with a consensus price target of $31.67.
Discovery Inc. (NASDAQ: DISCA) was started with an Outperform rating at Wells Fargo, and the analysts have set a $35 price target. The consensus target is $34.68. The stock closed Monday’s trading at $26.59.
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Global Payments Inc. (NYSE: GPN) was resumed in coverage at Goldman Sachs with a Buy rating and a $212 price target. That compares to the consensus target of $186.73. The shares ended Monday at $159.66.
Merit Medical Systems Inc. (NASDAQ: MMSI) was started with an Outperform rating at Oppenheimer, which also assigned a $40 price target. That compares with a much higher consensus target of $52.29. The stock was last seen Monday at $31.35, up almost 4% on the day.
Mirati Therapeutics Inc. (NASDAQ: NRTX) was raised to Buy from Neutral at Guggenheim. The 52-week trading range for the shares is a stunning $28.53 to $111.19, and the consensus price target is $108.77. The last trade Monday came in at $89.63.
Netflix Inc. (NASDAQ: NFLX) was started at Market Perform with a $288 price target by Wells Fargo. The consensus target is a stunning $386.90. Pivotal Research dropped its price target from $515 to $350. The shares are actually down for the year as Wall Street has become increasingly concerned with all the streaming competition the company faces already or has coming soon. The stock closed Monday at $265.92.
Party City Holdco Inc. (NYSE: PRTY) was named as the Zacks Bear of the Day stock. The firm said that tariffs and other headwinds have taken the fun out of this party retailer. Shares last closed at $5.95, with a consensus price target of $9.50.
Ralph Lauren Corp. (NYSE: RL) was raised to Overweight from Neutral at Atlantic Equities. The shares have traded in a 52-week range of $82.69 to $1393.56, and the consensus price target is $123.75. The stock closed Monday at $92.73.
Southern Copper Inc. (NYSE: SCCO) was raised to Equal Weight from Underweight at Morgan Stanley. The 52-week range is $29.01 to $44.43, and the consensus price target is $37.27. The shares closed at $34.57 on Monday.
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Snap Inc. (NYSE: SNAP) was raised to Buy from Neutral at Guggenheim, where the analysts have set a $22 price target. That compares to a much lower consensus price target of $16.57. The stock closed above that level on Monday at $17.12.
Walt Disney Co. (NYSE: DIS) was started with an Outperform rating at Wells Fargo, which also has a strong $173 price objective. The posted consensus price target is lower at $151.73. Monday’s last trade for the shares came in at $132.46.
Wynn Resorts Ltd. (NYSE: WYNN) was raised to Buy from Neutral at Goldman Sachs, which has a $155 price target on the casino giant. The prevailing consensus target is $135, and shares ended Monday at $108.11.
Zscaler Inc. (NASDAQ: ZS) was raised to Buy from Hold at Berenberg. The stock has traded in a 52-week range of $30.72 to $89.54. The consensus price target is $67.82, and the shares were last seen trading at $50.32.
Monday’s top analyst upgrades and downgrades included Alcoa, Amgen, Apache, Chewy, Clorox, Concho Resources, Edwards Lifesciences, Occidental Petroleum, Walt Disney and many more.
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