The second quarter of 2019 is now over, and the Dow Jones industrial average is up 14% and the S&P 500 is up more than 17% year to date. OPEC and Russia came to some production cut agreements on oil, and Presidents Trump and Xi Jinping have decided to stop new tariffs and resume trade discussions. Stocks were expected to post strong gains on Monday based on the developments and after overseas markets rallied, but investors will want to consider that major equity indexes are still very close to all-time highs. Investors should be considering how they want their portfolios and assets positioned for the second half of 2019 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 traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy. Other analyst 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 on Monday, July 1, 2019.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with a $235 price target (versus a $199.74 prior close) at Wedbush Securities, with the firm noting that Apple is a G-20/China winner as trade talks resume and as new tariffs are put on hold. Apple was indicated up 2.5% at $197.92 on Monday, and its consensus target price was $212.03 on last look.
Carnival Corp. (NYSE: CCL) was downgraded to Hold from Buy and the price target was cut to $48 from $60 at