Stocks closed up on Monday, but far lower than the midday highs. Stocks were then indicated up large on Tuesday morning in an effort to recapture those gains. The bull market is now over nine years old, and the trend of buying pullbacks has become much more vulnerable to sellers and volatility trades. The climate has become more difficult for investors trying to decide how they want their assets positioned for the rest of 2018 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 investors and traders alike. Some analyst reports cover stocks to buy and some 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 Tuesday, April 10, 2018.
Alphabet Inc. (NASDAQ: GOOGL) was maintained as Overweight but the price target was cut to $1,175 from $1,200 (versus a $1,020.09 prior close) at Morgan Stanley. Alphabet has a 52-week trading range of $834.60 to $1,198.00 and it had a consensus analyst target price of $1,278.81.
Becton Dickinson & Co. (NYSE: BDX) was raised to Buy from Neutral and the price target was raised to $251 from $237 at Citigroup.
CBOE Global Markets Inc. (NASDAQ: CBOE) was started as Market Perform at Bernstein.
CME Group Inc. (NASDAQ: CME) was started as Outperform at Bernstein.
Cognex Corp. (NASDAQ: CGNX) was downgraded to Neutral from Buy and the target price was cut to $55 from $78 at Goldman Sachs. The stock closed up 0.8% at $49.70 on Monday, with a 52-week range of $39.74 to $72.99 and a consensus target price of $65.68.
Credit Acceptance Corp. (NASDAQ: CACC) was reiterated as Underperform at Credit Suisse, with the firm noting that there is more downside potential to loan yields.
EOG Resources Inc. (NYSE: EOG) was reiterated as Buy with a $133 price target at Argus.
Essent Group Ltd. (NYSE: ESNT) was down 15% at $35.61 on Monday, and multiple price target cuts have been seen: KBW to $50 from $57, Deutsche Bank to $55 from $61 and RBC to $48 from $59.
E*Trade Financial Corp. (NASDAQ: ETFC) was started as Outperform at Bernstein.
Facebook Inc. (NASDAQ: FB) was maintained as Outperform but the price target was cut to $205 from $200 at Evercore ISI. Similar target cuts have been seen, but only with minimal formal downgrading during its privacy of data woes. Shares were up 0.5% at $157.93 on Monday and indicated up 0.3% at $158.49 on Tuesday. The 52-week range is $138.81 to $195.32.
Hershey Co. (NYSE: HSY) was downgraded to Sell from Neutral and the price target was cut to $90 from $106 at UBS.
Illinois Tool Works Inc. (NYSE: ITW) was already rated as Buy but it was added to the prized Conviction Buy list with a $177 price target at Goldman Sachs.
Kinross Gold Corp. (NYSE: KGC) was downgraded to Market Perform from Outperform at BMO Capital Markets.
LGI Homes Inc. (NASDAQ: LGIH) was downgraded to Neutral from Outperform at Wedbush Securities after the firm’s $73 price target was achieved.
MGIC Investment Corp. (NYSE: MTG) was down 17% at $10.62 on Monday. RBC downgraded it to Sector Perform from Outperform and slashed its price target to $12 from $20.
Monsanto Co. (NYSE: MON) was downgraded to Market Perform from Outperform at BMO Capital Markets. It closed up 6.2% at $125.15 on Monday after news came out that the Justice Department would be clearing its acquisition by Bayer.
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