Dow, PNC Financial, Steel Dynamics and more – 24/7 Wall St.
Markets moved lower at the start of the week, but rebounded from their lows for the day and may be heading into positive territory. It also comes as crude oil hits its highest level in seven years. Cryptocurrency is also on the move, with Bitcoin adding to its earnings above $ 60,000. The earnings season got off to a good start last week with the big banks, shifting this week to big names like Netflix.
24/7 Wall St. reviews some big analyst calls seen on Monday. We’ve included the latest call on each stock, as well as recent trading history and consensus goals among analysts. Note that analyst calls seen earlier today were for Domino’s Pizza, Micron Technology, Occidental Petroleum, US Steel, Virgin Galactic and more.
Beacon Roofing Supply Inc. (NASDAQ: BECN): RBC Capital Markets has raised the stock to Outperform against Sector Perform and has a price target of $ 63. The shares were trading near $ 53 on Monday and the analyst consensus target price is $ 64.25.
Dow Inc. (NYSE: DOW): Wolfe Research’s demotion went from Peer Perform to Underperform with a price target of $ 55. The 52-week trading range is $ 44.33- $ 71.38, and the stock price is close to $ 59.
Latch Inc. (NASDAQ: LTCH): Goldman Sachs’ demotion to Neutral from Buy included a price target reduced from $ 16 to $ 10. The shares were trading near $ 9 on Monday and the consensus price target is $ 14.60.
PNC Financial Services Group Inc. (NYSE: PNC): BofA Securities downgraded its buy rating to Neutral. The 52-week range is $ 106.85 to $ 204.93, and the stock price is around $ 207.64.
PTC Therapeutics, Inc. (NASDAQ: PTCT): BofA Securities downgraded it to Underperform from Neutral, and it has a price target of $ 38. The shares were trading around $ 36, well below the consensus price target of $ 55.80.
Steel Dynamics Inc. (NASDAQ: STLD): Morgan Stanley downgraded the stock’s rating to equal weight versus excess weight. The shares were trading around $ 61, below the consensus price target of $ 79.73.
Summit Materials Inc. (NYSE: SUM): RBC Capital Markets has lowered it from Outperform to Sector Performance and has a price target of $ 37. The shares were trading at close to $ 33 apiece. The consensus price target is $ 38.88.
Upstart Holdings Inc. (NASDAQ: UPST): BofA Securities downgrade was from Buy Underperform with a price target of $ 300. The shares were trading near $ 376 on Monday and the consensus target price is $ 290.63.
Vulcan Materials Co. (NYSE: VMC): DA Davidson upgraded it to Buy from Neutral and raised the price target to $ 210 from $ 195. The 52-week trading range is $ 131.36- $ 194.17, and the stock price is close to $ 204.68.
Five major real estate investment trusts pay reliable distributions above the 5% level. With the prospect of continued low interest rates and an extremely risky, overbought stock market, it makes sense to have solid assets like real estate in your portfolio.
Five large companies are expected to increase their dividends to shareholders this week, and their shares are rated Buy on Wall Street, making them excellent candidates for total return.