Top Analyst Upgrades and Downgrades: AbbVie, American Water, Carnival, Cisco, Darden, DexCom, Micron, Nike, Occidental Petroleum and More

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Stocks were hammered hard on Thursday on trade war fears, with the Dow Jones industrial average falling 724 points to 23,957 and the S&P 500 falling 68 points to 2,643.69. Stocks were indicated higher on Friday after overseas selling stabilized and after a strong durable goods report.

The bull market is now over nine years old, and the trend that has prevailed so far has been for investors to buy the pullbacks. That likely can’t last forever, but investors are still trying to decide how they want their allocations positioned for the rest of 2018 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for investors and traders alike. Some of the daily analyst and research reports cover stocks to buy. Others cover stocks to sell or to avoid.

Additional color and commentary has been added on most of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Friday, March 23, 2018.

AbbVie Inc. (NYSE: ABBV) was down 12.7% at $98.10 on Thursday after disappointing cancer drug news. Credit Suisse maintained AbbVie as Neutral, but the price target was cut to $109 from $135.

AC Immune S.A. (NASDAQ: ACIU) was downgraded to Neutral from Outperform and the price target was cut to $14 from $18 (versus a $12.50 prior close) at Credit Suisse. The downgrade is based on a limited number of catalysts seen in 2018.

American Eagle Outfitters Inc. (NYSE: AEO) was started with a Buy rating and assigned a $25 price target (versus a $19.57 close) at Loop Capital.

American Water Works Co. Inc. (NYSE: AWK) was raised to Buy from Hold at HSBC. This water utility giant closed down 0.9% at $80.15 on Thursday and has a 52-week trading range of $74.63 to $92.37 and a consensus analyst target price of $90.95.

Ashland Global Holdings Inc. (NYSE: ASH) was raised to Outperform from Neutral with a $79 price target (versus a $68.18 close) at Credit Suisse.

Banco Santander S.A. (NYSE: SAN) was raised to Outperform from Market Perform at Keefe Bruyette & Woods. The American depositary shares were down 3.2% at $6.35 on Thursday but were indicated up 1.25% at $6.43 on Friday morning, in a 52-week trading range of $5.74 to $7.57.

Carnival Corp. (NYSE: CCL) was raised to Overweight from Equal Weight with a $77 price target (versus a $66.20 close) at Barclays. Credit Suisse reiterated its Outperform rating on the stock, and is price target was raised to $84.50 from $79.50.

China Mobile Ltd. (NYSE: CHL) was raised to Hold from Underperform at Jefferies.

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