Wall Street analysts are constantly releasing and updating reports on stocks across their respective coverage universes. These calls, whether positive or negative, play into the overall perception of the stock and can easily influence investors, especially if the broker making the call is a big name like Goldman Sachs.
While these analysts may differ in terms of their approach or analytics, their bottom line tends to this: a stock is going up, going down or just keeping pace with the market.
Every day, 24/7 Wall St. reviews top analysts’ research from the major brokerage firms and investment houses, and we compile the best and most prominent upgrades and downgrades. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are a few stocks that we think Wall Street hated the most in this past week.
Exelon Corp. (NASDAQ: EXC): Scotiabank downgraded the stock to Sector Perform from Outperform and cut the price target to $44 from $55. The 52-week trading range is $27.35 to $44.02, and shares have a consensus target of $50.78. The stock traded Friday morning at $42.50 a share.
Stanley Black & Decker Inc. (NYSE: SWK): Citigroup downgraded the shares to Sell from Buy and cut the price target to $145 from $215. The consensus target price is $211.44, and the stock traded on Friday at $165.50. This implies more than 12% downside from Citigroup’s target price.
Big Lots Inc. (NYSE: BIG): JPMorgan lowered its Neutral rating to Underweight and slashed the $54 target price to $31. The consensus target is $44.44, and the stock recently traded at $37.50. This implies more than 17% downside from JPMorgan’s target price.
Incyte Corp. (NASDAQ: INCY): SVB Leerink’s downgrade to Underperform from Market Perform included a price target cut from $60 to $56. The 52-week trading range is $61.91 to $88.26, and shares traded at $67.60 on Friday. This implies about 17% downside from the analyst’s target.
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