Stocks had seen steady gains and the rolling trends had been to move into value and beaten-down sectors rather than the darlings. Monday's pre-trading session saw lower stock futures and higher oil prices on the heels of drone attacks taking out much of Saudi Armaco's production operations. The markets have been volatile, the S&P came within 1% of its all-time high again and the bull market is well over 10 years old. Investors need to be considering what changes to make for their portfolios and assets heading into late 2019 and as 2020 approaches.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some 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 for Monday, September 16, 2019.
Aimmune Therapeutics Inc. (NASDAQ: AIMT) was indicated up 7.7% at $26.57 on Monday after an FDA advisory panel recommended approval of its peanut allergy treatment in a seven-to-two vote. Wedbush Securities reiterated it as Outperform with a $79 target price, as the firm expects formal approval in early 2020 and peak sales of the peanut allergy treatment over $1.5 billion. Stifel maintained its Hold rating but still raised its target to $30 from $24.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with the same $245 price target at Wedbush, with the firm talking up preorder demand indications for the upcoming iPhone 11. Nomura/Instinet reiterated its Neutral rating and $185 target price, but the firm did note that the iPhone 11 is off to a good start. Apple closed down 1.9% at $218.75 a share on Friday, after Goldman Sachs was negative and warned of downside in the stock. The prior consensus target price was $224.24.
Atara Biotherapeutics Inc. (NASDAQ: ATRA) was downgraded to Hold from Buy at Jefferies.
Aurora Cannabis Inc. (NYSE: ACB) was downgraded to Sell from Hold at Stifel, and the Canadian price target for the cannabis player left implied downside of about 35%. Its American depositary shares were indicated down 4.7% at $5.67, after a 1% gain on Friday to $5.95.
Banc of California Inc. (NYSE: BANC) was downgraded to Market Perform from Outperform at Raymond James.
Dick's Sporting Goods Inc. (NYSE: DKS) was downgraded to Market Perform from Outperform at Wells Fargo.
DXC Technology Co. (NYSE: DXC) was named as the Zacks Bear of the Day stock. The firm said that this stock has tumbled 65% over the past 12 months, and looking ahead it doesn’t seem like it will support a comeback. The stock closed at $32.70 a share, with a consensus price target of $52.33.
Enphase Energy Inc. (NASDAQ: ENPH) was started as Overweight and assigned a $32 target price at JPMorgan. The stock was indicated up almost 6% at $23.40 on Monday, in a 52-week range of $3.70 to $35.42 and with a prior consensus target price of $30.63.
Esperion Therapeutics Inc. (NASDAQ: ESPR) was raised to Neutral from Sell but the target price was lowered to $45 from $55 (versus a $36.56 prior close) at Goldman Sachs. The consensus target price was $85.38.
24/7 Wall St. The Weaponization and Attacks Using Drones Have Only Just Begun wallst_recirc_link_tracking_init( "13413091115d7f8e8f20ede", "graphic" ); Extra Space Storage Inc. (NYSE: EXR) was downgraded to Underweight from Equal Weight at Morgan Stanley.
Fiserv Inc. (NASDAQ: FISV) was named as the Bull of the Day at Zacks, which said that this stock is perhaps one of the most important financial services companies in the United States and it recently extended its reach. Shares most recently closed at $102.60 and have a consensus price target of $115.04.
Halliburton Co. (NYSE: HAL) was downgraded to Equal Weight from Overweight and its target price was cut to $23 from $31 at Barclays. Halliburton closed up 2.6% at $20.27 on Friday, but the surge in oil prices on Monday had its shares up 7% at $21.70 on Monday morning. The prior consensus target price was $30.42.
HP Inc. (NYSE: HPQ) was downgraded to Neutral from Buy and the target price was cut to $20 from $22 at UBS. Shares closed up 1.7% at $19.08 on Friday but were indicated down 1.5% at $18.80. The prior consensus target price was $20.46. HP has a 52-week trading range of $17.10 to $27.08.