Markets dipped to start out the week, with the Nasdaq leading the charge by slipping just over 1%. The Dow Jones industrials and S&P 500 were each down about 0.6%. This comes after Friday’s devastating session, which saw broad markets lose roughly 3% on the heels of Fed Chair Jerome Powell’s remarks at the Jackson Hole Symposium.
Many analysts are speculating that with the Fed’s current stance and narrative equities will be on the downturn in the near term. This could spell problems for earnings in the third and fourth quarters as the metrics are evening out the equation.
All this makes for a stockpickers’ market, and finding winners will be tricky this fall. Luckily, analysts have some ideas about what might win out despite this market climate.
24/7 Wall St. is reviewing additional analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on AstraZeneca, Broadcom, Dell, Tesla and more.
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Aerie Pharmaceuticals Inc. (NASDAQ: AERI): Citigroup downgraded the stock to Neutral from Buy and cut the $15.25 price target to $14. The 52-week trading range is $4.81 to $17.21, and the stock traded near $15 on Monday.
Choice Hotels International Inc. (NYSE: CHH | CHH Price Prediction): Wells Fargo’s downgrade to Underweight from Equal Weight included a price target cut to $123 from $130. The 52-week trading range is $108.70 to $157.46, and the share price was near $115 on Monday.
Deciphera Pharmaceuticals Inc. (NASDAQ: DCPH): Cowen initiated coverage with an Outperform rating and a $25 price target. The shares traded near $16 on Monday. The 52-week range is $6.51 to $37.99.
Denny’s Corp. (NASDAQ: DENN): C.L. King started coverage with a Buy rating and a $14 price target. Shares traded near $10 on Monday, in a 52-week range of $8.46 to $17.40.
Dow Inc. (NYSE: DOW): KeyBanc Capital Markets cut its Sector Weight rating to Underweight with a $45 price target. Shares have traded as high as $71.86 in the past year but were near $53 on Monday, which is down 4% year to date.
Host Hotels & Resorts Inc. (NASDAQ: HST): Wells Fargo upgraded the shares to Overweight from Equal Weight and raised the price target by a buck to $21. Shares traded near $18 on Monday, in a 52-week range of $15.10 to $21.63.
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LyondellBasell Industries N.V. (NYSE: LYB): The Sector Weight rating at KeyBanc Capital Markets dropped to Underweight with a $73 price target. The stock traded near $85 on Monday, in a 52-week range of $82.14 to $117.22.
Park Hotels & Resorts Inc. (NYSE: PK): Though Wells Fargo upgraded it to Overweight from Equal Weight, it also cut the $20 price target to $17. The 52-week trading range is $12.90 to $21.62. Shares changed hands near $14 apiece on Monday.
Xenon Pharmaceuticals Inc. (NASDAQ: XENE): BofA Securities started coverage with a Buy rating and a $45 price target. The stock was last seen trading near $38, in a 52-week range of $14.65 to $41.39.
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