Shares of American Eagle Outfitters (NYSE:AEO) are down 13% to $14.66 in early Thursday trading. The move follows the specialty retailer’s fiscal Q2 2026 report, released after the close on Wednesday, which leaned heavily on a one-time tariff refund. The question is whether the headline earnings beat masks softer underlying trends in the quarter.

The selling is spreading across young-adult apparel names. Abercrombie & Fitch (NYSE:ANF) stock is down 3% to $148.16, and Urban Outfitters (NASDAQ:URBN) stock is off 3% to $75.20.

Tariff Refund Flatters the Beat

American Eagle Outfitters posted earnings of $0.79 per diluted share, but the quarter included a $161 million net tariff-refund benefit that carried the result. Strip out that windfall, and the underlying operating performance looks markedly softer. That’s the composition problem behind today’s move.

Brand mix deepened the concern. The Aerie unit at American Eagle Outfitters, which includes the OFFLINE activewear line, drove growth with 19% comparable sales gains, while the namesake American Eagle brand saw comparable sales decline 1%. Management now expects the namesake brand to run roughly flat for the balance of the year, versus prior expectations for low-single-digit growth in the second half, with a markdown allowance still baked into the plan.

Compounding the story, American Eagle Outfitters is redirecting marketing dollars away from the mall, campus, and soccer-ambassador awareness spend of the past year and toward digital tactics designed to close sales. Executives said advertising should start to leverage in the fourth quarter and into next year, pushing any payoff from the strategy shift down the calendar.

Peers Slip on the Read-Across

Abercrombie & Fitch reported a similarly refund-inflated quarter on August 26, booking approximately $100 million in tariff refunds that added an estimated $1.75 per diluted share to Q2 fiscal 2026 earnings. Today’s slip in Abercrombie & Fitch points to renewed scrutiny of that beat’s composition as well, even after CFO Robert Ball stated the “underlying business performed above our expectations” excluding the refund.

Urban Outfitters delivered 10% revenue growth to $1.7 billion in its own late-August report, with all retail brands posting positive comps and management flagging full-price sales momentum into August. The pullback in Urban Outfitters shares today reads as a young-adult apparel category call rather than a change to the company’s own outlook.

The SPDR S&P Retail ETF (NYSEARCA:XRT) is down 0.4% while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.67%. XRT’s modified equal-weighted construction means no single holding tips the fund either way, so today’s action reads as a single-name repricing rather than a broader sector verdict.

What to Watch

The debate on American Eagle Outfitters centers on whether the namesake brand can re-accelerate as marketing shifts from awareness to conversion, and whether Aerie’s high-teens comps momentum holds into the holiday quarter.

Investors can watch for signs that markdown pressure on the namesake brand eases as inventory rebalances in the third quarter. For Abercrombie & Fitch and Urban Outfitters, the question is whether today’s sympathy move fades once the next reporting cycle separates operating trends from refund optics.

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Money is rotating back into beaten-down department store names this Wednesday morning, with buyers paying up for a quarter they discounted just a week ago. The peer spread across the sector shows why this is rotation rather than a retail-wide rally, since the cheap names are climbing while the specialty winner is giving back gains.

Kohl’s (NYSE:KSS) stock is up 7% to $19.03 in mid-morning trading, reversing the post-earnings selloff that followed its August 26 quarterly report. Also bid up, Macy’s (NYSE:M) stock is climbing 3% to $22.65 as the low-multiple department store cohort catches a bid.

Abercrombie & Fitch (NYSE:ANF) stock is down 2% to $138.50 today, giving back a slice of a very large summer run as buyers fund the rotation by trimming the sector’s momentum leader. Notably, the SPDR S&P Retail ETF (NYSEARCA:XRT) is up 0.8% to $86.60, a small move that confirms today’s action is selective and not a broad sector bid.

Reversal of the Post-Earnings Selloff

Kohl’s reported second-quarter results on August 26, delivering net income of $151 million, or $1.28 per diluted share, against adjusted net income of $64 million, or $0.56 per share a year earlier. Moreover, Kohl’s gross margin expanded 305 basis points to 43% with help from roughly $100 million in tariff refunds that flowed through cost of merchandise sold. The stock fell that day despite the beat.

Kohl’s management raised the company’s full-year adjusted EPS guidance to a range of $1.80 to $2.40 and restarted share repurchases, planning up to $100 million of buybacks under an existing $3 billion authorization. The market focused instead on the softer top line, with net sales down 0.9% in the quarter and Sephora sales inside Kohl’s stores down 4%. CEO Michael Bender attributed the Sephora softness to expanded distribution for several established brands that Kohl’s previously carried exclusively, and said newer brands aren’t yet large enough to offset the loss.

Cheap Laggards Bid, Specialty Winner Fades

Both valuation and momentum are splitting the trio this morning. Kohl’s stock was down 11% year to date through Tuesday’s close and Macy’s stock was up 1% year to date, both trading like discounted turnaround stories with room to run if operating trends firm up. Abercrombie & Fitch stock had climbed 41% over the past month heading into today, so profit-taking on that run is doing most of the work on the downside for the specialty apparel name.

The SPDR S&P Retail ETF holds Kohl’s at 1.51% of net assets, Macy’s at 1.37%, and Abercrombie & Fitch at 1.42%, so the barely-changed fund reading argues against a broad-basket chase. The mechanism today is a reversal of last week’s Kohl’s reaction combined with rotation into laggards, and holders are funding the trade by trimming the group’s recent winner.

Both Kohl’s and Macy’s trade at cheaper multiples and lower absolute price levels than Abercrombie & Fitch, which gives them more room to snap back on a favorable read. That valuation gap is doing more work than any shared catalyst this morning, and it explains why the buying favors the laggards over the momentum leader in the group.

Position Sizing Amid the Rotation

The move rewards patience over chasing. Kohl’s has now delivered five consecutive EPS beats, yet comparable sales remain in decline and the second-quarter margin surprise leaned heavily on tariff-refund proceeds. That combination could make underlying-trend comparisons harder for the next several reports, and holiday-quarter execution could decide whether today’s rebound has staying power.

Investors chasing Kohl’s or Macy’s on today’s snapback should size their positions to match the volatility inherent in low-multiple turnaround retailers, while holders of Abercrombie & Fitch stock should consider whether the recent run compressed the risk-reward before adding on any further pullback. A staged entry across the group makes sense given how quickly this trio has reversed in recent sessions.

The post Kohl’s Rallies 7% on Rotation Into Beaten-Down Retail, Macy’s Climbs 3%, Abercrombie & Fitch Slips appeared first on 24/7 Wall St..

A raised profit outlook is outweighing a trimmed sales forecast at Gap Inc. (NYSE:GAP) this morning, as margin discipline trumps top-line concerns. Gap stock is up 15% to $23.91 after second-quarter fiscal 2026 results landed Thursday evening. The move claws back much of a 17% year-to-date (YTD) decline and validates a report where the Gap brand’s 10% comparable sales and a raised full-year EPS range outweighed a Q2 2026 revenue miss and softer Old Navy performance.

Also, Abercrombie & Fitch (NYSE:ANF) stock is up 1% to $147.50, extending a rally that has lifted shares 16% YTD on brand momentum and tariff refunds. Kohl’s (NYSE:KSS) stock is up 0.2% to $18.19, holding modest gains after its own refund-boosted results earlier this week.

The SPDR S&P Retail ETF (NYSEARCA:XRT) is up 1% to $87.59, a modest lift that undersells the divergence inside the sector. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.1% to $771.74, so mall-based apparel names are outrunning the broad market on the tariff-refund tailwind.

Profit Beat and Brand Divergence Drove the Move

The Gap’s quarterly revenue came in at $3.65 billion, down 2% year over year (YoY), missing the $3.69 billion analyst consensus. Adjusted diluted EPS of $0.52 topped the $0.48 expected beat expectations, while GAAP results were inflated by the tariff refund recognized in cost of goods sold.

The brand-level split explains the price action. At the namesake banner, The Gap’s net sales rose 9% and comparable sales climbed 10%, marking the brand’s 11th consecutive quarter of positive comps. Banana Republic comparable sales rose 3% for a fifth consecutive positive quarter, while Old Navy net sales fell 4% on comparable sales down 4% and Athleta comparable sales dropped 12%.

The Gap’s management trimmed the company’s full-year net sales growth range to 1% to 1.5% from a prior 1% to 2%, reflecting Old Navy full-year comparable sales now being expected flat to down 1% versus a prior flat to up 1%. The company raised adjusted diluted EPS guidance to $2.35 to $2.45 from $2.30 to $2.40, with Q3 2026 net sales expected to rise 1.5% to 2.5%.

Leadership Reset Gives Old Navy a Name and a Date

Richard Dickson, The Gap’s CEO, stated that “continued operational and financial rigor contributed to gross margin strength resulting in the Company exceeding profit expectations,” even as revenue came in modestly below plan. Dickson attributed the Old Navy shortfall partly to a concurrent slowdown in store traffic tied to marketing shortcomings, alongside anticipated weakness in the women’s seasonal assortment. That framing lets investors treat the sales cut as an identified problem with targeted actions underway.

Michael Francis becomes Old Navy’s president and CEO on November 2, succeeding Haio Barbeito. The concrete date gives investors a milestone for the turnaround plan, and it comes as Gap has trimmed its annual sales target because of Old Navy for the second consecutive quarter. Attaching a name and start date to the fix reframes the sales cut as a bridge rather than a running wound.

Peers reporting alongside the retailer benefited from IEEPA tariff refunds that flowed through cost of goods sold, lifting margins broadly this week. Abercrombie & Fitch layered underlying brand momentum on top of its own refund, while Kohl’s used its refund to fund value investments for the back half. The $417 million net recovery is the single biggest tariff recovery of the retail season so far.

The company ended the quarter with $2.5 billion in cash, cash equivalents, and short-term investments, and $399 million remaining under its buyback authorization after completing a $200 million accelerated share repurchase and $200 million in open-market purchases during the quarter. The board declared a Q3 dividend of $0.175 per share, up 6% YoY, and year-to-date buybacks now stand at $601 million.

What to Watch

Investors can watch for Old Navy comp trends heading into Q3, where guidance calls for flat to down 1% and back-to-school marketing can be tested. The Michael Francis start date on November 2 sets a checkpoint for Old Navy’s turnaround thesis, and the Q3 gross margin outlook calls for 25 to 75 basis points of expansion that can keep the profit story intact.

Momentum across ANF and the broader XRT complex suggests the tariff-refund tailwind can keep flattering retail earnings prints through the current reporting cycle. Sizing your retail exposure should account for the fact that these refunds are non-recurring, so second-half comparisons could look tougher without them.

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Abercrombie & Fitch (NYSE:ANF) stock is surging 37% to $148.91 in mid-morning Wednesday trading after a large earnings beat, a $100 million tariff refund, and a raised full-year guidance. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is practically unchanged at $765.57, framing this as an idiosyncratic apparel repricing rather than a market move.

For peer context, Ross Stores (NASDAQ:ROST) stock is down 0.5% to $240.09 after its own tariff-refund quarter landed last week, while Kohl’s (NYSE:KSS) stock is up 0.4% to $17.75 after reporting the same catalyst before the open. Also notably, the State Street SPDR S&P Retail ETF (NYSE ARCA:XRT) is up 1% to $88.58.

Abercrombie stock had been down 13% year to date through Tuesday’s close, so today’s session is repricing a name the market had already written down.

Tariff Refund and Raised Guidance Drive the Move

Abercrombie reported adjusted earnings of $4.17 per diluted share, well above the $1.99 consensus and its own prior guide of $1.80 to $2.00. Its net sales rose 5% to $1.27 billion.

Abercrombie’s operating margin came in at 19.9%, against 13.9% adjusted a year earlier. Its Abercrombie brand net sales rose 8% and its Hollister brand net sales rose 2%, with both banners setting second-quarter records.

The company received a $100 million pre-tax IEEPA tariff refund booked as a reduction of cost of sales, contributing $1.75 per diluted share. Abercrombie raised its full-year outlook to $13.10 to $13.60 per diluted share from a prior $10.20 to $11.00, with 220 basis points of the margin upgrade tied to the refund.

By region, Abercrombie’s Asia Pacific net sales grew 19% and its Americas net sales grew 5%, with EMEA net sales up 2%. APAC comparable sales grew 13%, so the geographic breadth is the piece of the quarter that would survive without the refund.

Reading Past the One-Time Windfall

The tariff refund alone contributed $1.75 of Abercrombie’s $4.17 result and 220 basis points of its raised operating margin outlook. Abercrombie stock still gets credit for a 19.9% operating margin against 13.9% adjusted last year, which is a meaningful operational improvement even after backing out the refund benefit.

CEO Fran Horowitz stated that Abercrombie’s operating margin and earnings per share beat guidance in excess of the refund itself. Its Abercrombie brand delivered 4% comparable sales growth, marking a return to positive comps at its namesake banner.

The tension worth naming is that Abercrombie’s companywide comparable sales were flat. Its Hollister brand comps declined 3%, so reported net sales growth is being carried by AUR gains and new stores rather than by traffic through the existing base. That’s the line the bull case has to defend into the back half of fiscal 2026.

Same Catalyst, Very Different Reactions

Ross stock is down 0.5% today because its tariff refund and guidance raise landed last Wednesday, and its shares had already run before this session. The Ross earnings report carried the stock to a 34% year-to-date gain through Tuesday’s close, so its tariff mechanic was priced in before Abercrombie reported.

Kohl’s stock is barely moved today despite reporting the same tariff-refund tailwind and raised guidance before the open. Coming into Wednesday, Kohl’s shares had been down 12% year to date, and investors appear reluctant to reward a tariff windfall bolted onto a still-declining top line.

The tariff mechanic is identical across all three retailers. The demand stories underneath diverge sharply, with Ross Stores’ traffic-led comps on one end and Kohl’s contracting revenue on the other, leaving Abercrombie somewhere in the middle with flat comps and a strong AUR story.

What to Watch Next

Investors can watch for whether Abercrombie stock holds its gains through the close, since a 34% single-session move on a name that was negative year to date invites profit-taking. The next scheduled catalyst is the third-quarter report, where Abercrombie’s management guided to $2.90 to $3.20 in EPS on 5% to 6% sales growth.

For position sizing, this is a name that just repriced by a third in one session on a one-time item. Investors comfortable with Abercrombie’s operating story can scale in modestly rather than chase the gap higher, and can trim into strength if its comparable sales fail to turn positive next quarter. Sizing should reflect the reality that a rally built partly on a tariff refund can fade as quickly as it arrived.

The post Abercrombie & Fitch Soars 37% on a $100M Tariff Refund and Raised Guidance, Ross and Kohl’s Hold Steady appeared first on 24/7 Wall St..

Pre-Market Stock Futures:

Futures are trading lower after a rough start to the week, as rising oil prices, tensions with Iran, and rising interest rates have dampened the big risk-on move across equities over the last 3 weeks. When the final bell rang on Monday, all the major indices ended the day lower, with the small-cap Russell 2000 closing down 0.40% at 3,056, while Dow Jones industrials took a similar hit, closing at 53,459, down 0.51%. After closing at a new all-time high last week, the S&P 500 closed at 7,745, down 0.52%, and the tech-heavy Nasdaq closed at 26,644, down 0.32%. With summer drawing to a close and second-quarter earnings nearly over, trading volumes have moved lower, which could add to volatility. It should be noted that Asset Managers and Hedge Funds have now constructed the largest Nasdaq Futures short position ever recorded. That doesn’t bode well for September, which is annually the worst month for stocks.

Treasury Bonds:

The Bond vigilantes were back at work to start the week, as yields were mostly higher across the Treasury curve, as oil and geopolitics were big factors Monday. The yield on the 30-year bond closed Monday at 5.32%, the highest print since 2007. The yield on the benchmark 10-year note closed at 4.73%. Slowly but surely, the bond market is doing what the Federal Reserve may not have to do by moving rates higher. The odds that the Fed will raise rates in September have dropped to 25%. Kalshi has 72% saying rates are unchanged and 28% for a 25-basis-point increase. 

Oil and Gas:

Some bellicose rhetoric from Iran, and the Strait of Hormuz traffic dropping to zero over the weekend, fanned the buyers in the energy complex on Monday. When the final bell rang, Brent Crude closed the session at $90.86, up 2.64%, while West Texas Intermediate finished the day at $84.78, up 2.89%. Natural gas closed down 1.13% at $2.70.

Gold:

Geopolitical turmoil and cooling economic data provided a nice tailwind for bullion, as it continues its rally off the mid-July lows. Gold closed Monday’s session at $4,414, up 0.88%, while Silver closed at $65.63, up 1.63%.

Crypto:

Cryptocurrencies traded down modestly on Monday and continued to hover in a tight, low-volatility range. Bitcoin opened around $62,829 and ticked up toward $63,400, while Ethereum hovered near $1,894, as traders weighed geopolitical tensions and mixed macroeconomic signals. Trading volumes remain low, like equities, as analysts continue to debate whether the current low volatility signals an upcoming breakout or an extended bear-market bottom. At 8 AM EDT, Bitcoin is trading at $64,326, while Ethereum is trading at $1,902.

24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Tuesday, August 18, 2026.  

Upgrades:

• Americold Realty Trust (NYSE: COLD) was upgraded to Neutral from Underperform at Bank of America, which moved the target price to $16 from $15.
• America Movil (NYSE: AMX) was raised to Overweight from Neutral at JPMorgan, which bumped the target price to $32 from $30.
• Bath & Body Works (NASDAQ: BBWI) was upgraded to Buy from Neutral at Citigroup, with an unchanged $25 target price.
• Duolingo (NASDAQ: DUOL) was upgraded to Buy from Neutral at DA Davidson, with a $160 target price.
• Tapestry (NYSE: TPR) was upgraded to Outperform from Neutral at Daiwa, with a $140 target price.

Downgrades:

• Abercrombie & Fitch (NYSE: ANF) was downgraded to Market Perform from Outperform at Raymond James, without a price target.
• Ameresco (NYSE: AMRC) was downgraded to Neutral from Outperform at Baird, which trimmed the target price for the shares to $32 from $36.
• Autohome (NYSE: ATHM) was cut to Underperform from Neutral at Bank of America, which nicked the target price to $19 from $20.20.
• Kite Realty Group Trust (NYSE: KRG) was downgraded to Sector Weight from Overweight at KeyBanc, without a target price.
• Millicom International (NASDAQ: TIGO) was cut to Neutral from Overweight at JPMorgan, which nudged the target price up to $105 from $100.

Initiations:

• Centrus Energy (NYSE: LEU) was initiated with an Equal Weight rating at Barclays, with a $207 target price.
  
• Gorilla Technology Group (NASDAQ: GRRR) was initiated with a Buy rating at Compass Point, with a $44 target price objective.
• Hilton Grand Vacations (NYSE: HGV) was initiated with a Neutral rating at Susquehanna, with a $50 target price for the stock.
• Lumentum Holdings (NASDAQ: LITE) was reinstated with a Buy at William O’Neil, without a target price.
• Micron Technology (NASDAQ: MU) was also reinstated with a Buy rating at William O’Neil, without a target price.

The post Here Are Tuesday’s Top Wall Street Analyst Research Calls: Abercrombie & Fitch, America Movil, Bath & Body Works, Duolingo, Gorilla Technology, Lumentum Holdings, Micron Technology, Tapestry,and More appeared first on 24/7 Wall St..

Pre-Market Stock Futures:

Futures are trading modestly higher after there was no encore follow-through on Monday, following a record-breaking week on Wall Street that saw two of the major indices hit all-time highs. Risk-off was the word to start the week off as all of the major indices finished in the red on Monday. The losses were modest on Monday, with the Nasdaq closing down 0.32% at 26,605, and the small-cap Russell 2000 down 0.56% at 3,017. The Dow Jones Industrials finished lower by 0.11% at 53,975, while the S&P 500 fared best, closing just 0.06% lower at 7,753. One thing is for sure: traders and investors alike are nervously waiting for the consumer price index report on Wednesday and the producer price index the following day. Many are worried that the benign June inflation report, released in early July, will not be repeated when the July report is released. Should inflation spike back to May levels or worse, that could very well lock in a Federal Reserve rate hike of 25 basis points (1.4% of 1%) in September.

Treasury Bonds:

The same concerns that kept a lid on stocks also drifted into the bond market, as yields rose across the entire Treasury curve, with most of the damage in the belly and the long end. Inflation worries, rising oil prices, and the ongoing situation in the Middle East involving Iran all conspired to bring sellers out. The 30-year long bond closed the day at 5.25%,  while the benchmark 10-year note finsihed the day at 4.71%. 

Oil and Gas:

Prices soared once again in the energy complex as the Strait of Hormuz bottleneck persisted, with traders citing growing doubts about a diplomatic settlement. Bank of America noted during the day that 10 times more ships need passage to stabilize oil markets. When the final bell rang, Brent Crude closed at $87.85, up 5.15%, while West Texas Intermediate was last seen at $82.30, up 5.27%. Natural gas also had a big day, closing at $2.78, up 4.36%.

Gold:

After finishing its best week in 7 months,  Gold kept the streak going with a solid performance on Monday. Traders cited the lousy jobs data from Friday, ongoing central bank purchases, and inflation, all of which provided a stiff tailwind for precious metals. Gold closed the session at $4,388, up 1.10%, while Silver closed at $65.85, up 3.37%.

Crypto:

Bitcoin and other top cryptocurrencies pushed past $65,000 earlier in the session, putting them on track for a positive week. That momentum faded somewhat as U.S. afternoon trading progressed, with Bitcoin slipping back to the $63,800–$64,000 range. Traders were cautious ahead of the U.S. inflation report Wednesday, while also weighing news that the Senate had postponed a vote on legislation to regulate digital asset markets. At 8 AM EDT, Bitcoin traded at $64,225, while Ethereum traded at $1,890.

24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Tuesday, August 11. 2026.  

Upgrades:

• Abercrombie & Fitch (NYSE: ANF) was upgraded to Equal Weight from Underweight at Barclays, which raised the price target for the retailer to $114 from $78.
• Best Buy (NYSE: BBY) was raised to Buy from Hold at Truist Financial, with a $95 target price for the stock.
• Boeing Company (NYSE: BA) was raised to Buy from Hold at Argus
• Jabil (NYSE: JBL) was upgraded to Buy from Neutral at UBS, with a $430 target price.
• Spotify Technology (NYSE: SPOT) was upgraded to Buy from Neutral at Phillip Securities, with a $650 target price.

Downgrades:

• Airbnb (NASDAQ: ABNB) was downgraded to Reduce from Neutral at Phillip Securities, with a $158 target price.
• Allstate (NYSE: ALL) was downgraded to Sell from Neutral at Citigroup, which bumped the price target for the insurance giant to $240 from $226.
• AppLovin Corporation (NASDAQ: APP) was downgraded to Neutral from Buy at Bank of America, which cut the price target to $400 from $430.
• The Gap (NYSE: GAP) was cut to Equal Weight from Overweight at Barclays, which trimmed the price target for the stock to $20 from $26.
• Under Armour (NYSE: UAA) was downgraded to Underweight from Equal Weight by Barclays, with an unchanged $5 target price.

Initiations:

• Arista Networks (NYSE: ANET) was reinstated with a Buy rating at William O’Neil, without a target price.
• Autodesk (NASDAQ: ADSK) was initiated with a Neutral rating at Goldman Sachs, with a $260 target price.
• BigBear.ai (NASDAQ: BBAI) was initiated with a Buy rating at Tiger Partners, with a $5 target price.
• Fiserv (NASDAQ: FISV) was resumed with an Equal Weight rating at Stephens, with a $57 target price.
• Jack Henry & Associates (NASDAQ: JKHY) was resumed with an Overweight rating at Stephens, which has a $200 target price objective for the stock. 
  
  

The post Here Are Tuesday’s Top Wall Street Analyst Research Calls: Airbnb, AppLovin, Autodesk, Best Buy, BigBear.ai, Boeing, Fiserv, Jabil, Spotify Technology and More appeared first on 24/7 Wall St..

The Avantis U.S. Small Cap Value ETF (NYSEARCA:AVUV) is having the kind of year that small-cap value advocates have been promising since 2021. AVUV is up 23% year to date and 39% over the past 12 months, beating the Russell 2000 by roughly two points and outpacing the passive small-cap value benchmark by a wider margin. With roughly $23.5 billion in net assets, AVUV is now the dominant active vehicle in this corner of the market, and the next 12 months will test whether the rally has another leg.

The setup heading into the second half

AVUV’s portfolio leans hard into the parts of the market that respond most violently to interest rates and consumer spending. The fund’s largest positions include Five Below at roughly 1%, GATX near 0.9%, and Avnet around 0.8%, with deep representation in regional banks, energy producers, and specialty retail. That mix has worked because the Fed cut 75 basis points between September and December last year, lowering the funds rate to 3.75%, then paused. Small caps got the relief; now they need the next move.

The macro factor that matters most: the Fed’s next decision

The single most important variable for AVUV over the next year is whether the Fed resumes cutting before September. The fund’s heavy exposure to leveraged small-cap balance sheets, financials like Axos Financial, Bank OZK, and Bread Financial, and rate-sensitive consumer names means another 50 basis points of easing would lower refinancing costs and steepen the yield curve favorably for net interest margins. The funds rate has held at 3.75% for six months, and the 10-year Treasury is near 4.4%, close to its 12-month average.

Watch the CME FedWatch tool and the dot plot updates that accompany each FOMC meeting. The specific threshold to monitor: if futures pricing for a September cut falls below 50%, small-cap value historically gives back gains quickly. If a cut gets pulled forward to July, expect AVUV’s regional bank and consumer discretionary sleeves to lead.

The fund-specific factor: consumer discretionary concentration meets tariff risk

What separates AVUV from broader small-cap value vehicles is its concentrated bet on consumer discretionary names carrying real tariff exposure. American Eagle Outfitters (NYSE:AEO) is guiding to a 10% tariff rate in Q2 and 15% in the back half. Abercrombie & Fitch (NYSE:ANF) initially modeled a 70 basis point headwind, since revised to roughly 20 basis points. Academy Sports & Outdoors (NASDAQ:ASO) flagged trade policy as a headwind even as it raised its full-year guide to $6.40 to $6.80 in adjusted EPS.

The transmission mechanism is direct. AVUV owns roughly 6.3 million shares of AEO and 1.3 million shares of ANF, and the consumer discretionary cluster collectively represents a meaningful slice of the portfolio. Consumer sentiment just printed 44.8 in May, a recessionary reading, while retail sales hit $763.7 billion, a 12-month high. That divergence cannot last forever. Track the monthly Census Bureau retail sales release and quarterly tariff commentary from these holdings.

The alternative if your view differs

If you want small-cap value exposure without the active profitability tilt that has driven AVUV’s outperformance, Vanguard Small-Cap Value ETF (NYSEARCA:VBR) offers a cheaper, more diversified index alternative. VBR is up 16% year to date, materially behind AVUV, but with less single-stock concentration and lower turnover. The iShares Russell 2000 ETF covers the broader small-cap universe without the value screen.

What to watch

The two signals that matter: the September FOMC decision, and the back-to-school tariff commentary from AEO, ANF, and Bread Financial in August earnings. A September cut paired with mitigated tariff impact extends AVUV’s lead. A Fed hold paired with margin compression at the consumer names is when the rotation reverses.

The post What AVUV Investors Need to Watch: Rate Cuts and Regional Bank Exposure appeared first on 24/7 Wall St..

Pre-Market Stock Futures:

Futures are trading higher on Wednesday as news of an impending end to the Iran war is sending oil prices dramatically lower. This news comes after a bounce-back Tuesday that benefited from lower oil prices, some strong earnings, and solid buying from retail investors. At the same time, hedge funds continue to sell into any market strength. In fact, BTIG reported that the 2nd-largest hedge fund selling of technology stocks in a decade matches the 3rd-largest retail fund flows into the QQQ ETF. With that in mind, the Nasdaq soared to yet another all-time high on Tuesday, closing the day up 1.03% at 25,326, while the S&P 500 also closed at an all-time high on Tuesday, up 0.81% at 7,259. The Dow Jones Industrials checked in with a gain of 0.73% to close at 49,298. The big winner on the day was the small-cap-heavy Russell 2000, which has been the leading index this year, closing up 1.64% at 2,841, and that also was another all-time high.

Treasury Bonds:

After hitting some high yields Monday, not seen in months, yields were lower across the Treasury curve as buyers jumped in, especially on longer-dated U.S. debt. While concerns over the potential for inflation to continue to edge higher and the possibility of no interest rate cuts until 2027 continue to hover over the market, 5%+ yields on the 20- and 30-year bonds were too much to ignore. The 30-year long bond finished trading Tuesday at 4.99%, while the benchmark 10-year note was last seen at 4.42%.

Oil and Gas:

Some selling across the energy complex was a major positive on Tuesday, as both major benchmarks finished the day lower. The lack of negative news about Iran and the passage of some ships escorted by the U.S. Navy safely through the Strait of Hormuz contributed to lower prices. Brent Crude finished the day at $110.30, down 3.64%, while West Texas Intermediate closed the session at $102.80, down 342%. The last trade for Natural gas was reported at $2.76, down 3.59%. 

Gold:

As has been the rule lately, when stock prices go higher, Gold and Silver often follow along in tandem, and that was the case on Tuesday. Gold closed the day higher by 0.76% at $4,556, while Silver was last seen at $72,74, higher by 0.18%. This comes after it was reported that Central Banks from around the world were net sellers of gold in March, with a stunning 30 tonnes of outflows. 

Crypto:

24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. 

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, May 6, 2026.  

Upgrades:

• Advanced Micro Devices (NASDAQ: AMD) was upgraded to Buy from Neutral at Goldman Sachs, which launched the target price for the chip giant to $450 from $240.
• American Eagle Outfitters (NYSE: AEO) was upgraded to Equal Weight from Underweight at Barclays, with a $19 target price.
• LCI Industries (NYSE: LCII) was raised to Buy from Neutral at Roth Capital, which has a $164 target price for the shares.
• GlobalFoundries (NYSE: GFS) was raised to Positive from Neutral at Susquehanna, which doubled the target price for the shares to $100 from $50.
• Palantir Technologies (NASDAQ: PLTR) was raised to Buy from Hold at Argus, which has a $190 target price objective.

Downgrades:

• Abercrombie & Fitch (NYSE: ANF) was downgraded to Underweight from Equal Weight at Barclays, which cut the target price for the retailer to $76 from $95.
• Coupang (NYSE: CPNG) was downgraded to Neutral from Buy at Citigroup, which trimmed the target price for the stock to $22.20 from $23.
• IAC  (NYSE: IAC) was downgraded to Hold from Buy at Jefferies, which stays with a $44 target price for the company.
• Reddit (NYSE: RDDT) was downgraded to Accumulate from Buy at Phillip Securities, which dropped the target price for the stock to $200 from $240.
• TopBuild (NYSE: BLD) was cut to Hold from Buy at Loop Capital, which kept a $485 target price for the shares.

Initiations:

• Celsius Holdings (NASDAQ: CELH) was initiated with a Neutral rating at Rothschild & Co Redburn, which has a $47 target price for the company.
• Dakota Gold (NYSE: DC) was initiated with an Outperform rating at CIBC, with an $11 target price. 
  
• Kymera Therapeutics (NASDAQ: KYMR) was started with a Buy rating at Canaccord, with a $106 target price.
• Merck & Co (NYSE: MRK) was reinstated with a Neutral rating at Citigroup, which has a $125 target price for the pharmaceutical giant.

The post Here Are Wednesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, American Eagle Outfitters, GlobalFoundries, IAC, Merck, Palantir Technologies, Reddit, and More appeared first on 24/7 Wall St..

Abercrombie & Fitch (NYSE:ANF) has had a turbulent 2026. Shares are down 26% year-to-date, pulling back from a 52-week high of $133.11, though the stock has recovered 2.65% over the past week and sits nearly 21% above where it traded one year ago.

Most analysts carry more moderate forecasts, with the Street consensus target at $120.78. But Needham analyst Tom Nikic just stepped in with a fresh Buy initiation and a $108 price target, arguing that fundamentals are stabilizing and the risk/reward is compelling at current levels. That target sits meaningfully above the stock’s recent price of $88.55. Can ANF realistically reach $108 by the end of 2026?

Tom Nikic’s $108 ANF Prediction

Nikic’s conviction rests on two stabilizing trends. First, the Abercrombie brand’s comparable sales have dramatically improved in recent quarters and could return to positive territory soon, after declining through much of fiscal 2025. The brand already posted 4% net sales growth in Q4, marking a return to positive comparable sales growth. Second, the stock’s valuation is undemanding: shares trade at a forward P/E of just 8.08x, well below typical consumer discretionary peers, despite the company delivering 13 consecutive quarters of net sales growth.

Key Drivers of ANF Stock Performance

1. Hollister’s sustained momentum: Hollister delivered 15% full-year net sales growth in fiscal 2025, with quarterly acceleration ranging from +22% in Q1 to +6% in Q4. This brand engine provides durable, compounding revenue growth that supports long-term earnings expansion.
2. Aggressive share repurchases compounding EPS: The company bought back 5.4 million shares ($450 million) in fiscal 2025, representing 11% of shares outstanding. With $850 million remaining on its repurchase authorization and another ~$450 million targeted in fiscal 2026, shrinking share count mechanically lifts per-share earnings over time.
3. Global store expansion and digital investment: Management plans ~30 net new store openings and 70 remodels in fiscal 2026, while digital already represents 44% of total sales. International momentum is building, with EMEA up 8% and APAC up 9% in Q4, broadening the geographic base for long-term compounding.

What Will It Take for ANF to Reach $108?

With approximately 45.86 million shares outstanding, a $108 price implies a market capitalization approaching $5 billion, compared to today’s ~$4.06 billion. Three conditions matter most: the Abercrombie brand must sustain its return to growth through 2026, management must deliver on its EPS guidance of $10.20 to $11.00, and tariff headwinds must remain contained at the guided ~70 basis points net impact rather than escalating further.

The primary risk is tariff uncertainty: the company has flagged approximately $90 million in tariff expense for fiscal 2026, and any policy shift beyond the assumed 15% rate could pressure margins further. With a fortress balance sheet carrying $759.5 million in cash, three straight years of double-digit operating margins, and a buyback program that consistently returns capital to shareholders, Needham’s $108 target reflects a credible path for patient, long-term investors.

The post Abercrombie & Fitch Could Surge to $108 — Wall Street Analyst Says the Risk/Reward Is Too Good to Ignore appeared first on 24/7 Wall St..

This article will be updated throughout the day, so check back often for more daily updates.

The Vanguard S&P 500 ETF (NYSEMKT: VOO) is up less than 0.1% as investors pause to consider whether Nvidia (Nasdaq: NVDA) might beat or miss earnings this evening.

In tariffs news, the second 25% tranche of President Trump’s threatened 50% (total) tariff on Indian exports to the U.S. goes into effect today. Levied initially to discourage India from buying Russian oil, the tariff briefly convinced some Indian refiners to pause oil purchases. But according to Bloomberg reports, these imports have resumed — and so the tariffs are on.

And now, on to earnings.

Earnings

S&P component company JM Smucker (NYSE: SJM) reported a fiscal Q1 2026 profit of $1.90 per share this morning, on $2.11 billion in revenue. Both earnings and revenue were exactly what Wall Street expected, but Smucker guided for weaker than expected full year fiscal 2026 earnings — and now it’s stock is down 7% premarket.

Fellow S&P component Williams-Sonoma (NYSE: WSM) reported a Q2 profit of $2, 22 cents better than analysts expected. Revenue of $1.84 billion edged past analyst expectations, and Williams-Sonoma guided higher citing “higher net revenue trends.”

Same store sales could rise 2% to 5% this year and total sales growth should be 0.5% to 3.5%. Williams-Sonoma stock is up nearly 3% in response.

Abercrombie & Fitch (NYSE: ANF) reported fiscal Q2 2026 earnings of $2.32, a nickel better than expected. Revenue was also better than expected at $1.2 billion, but guidance looks a bit weak at $10 to $10.50 for fiscal 2026.

Abercrombie stock is down 8% in consequence.

The post Stock Market Live August 27: S&P 500 (VOO) Flat As Investors Await Nvidia News appeared first on 24/7 Wall St..

This article will be updated throughout the day, so check back often for more daily updates.

Never underestimate the power of low expectations.

President Trump spooked investors last week when he threatened to impose a 50% tariff on imports from the European Union — then elated investors on Tuesday when he postponed imposition of the tariff.

Confusing things further, the President told investors Friday that he was “not looking for a deal” with the recalcitrant EU, only to turn around Tuesday and say, no, in fact, he actually is planning to “quickly establish meeting dates” to discuss lowering tariff barriers and “open up the European Nations for Trade with the United States of America.”

The stock market roared ahead, with the Vanguard S&P 500 ETF (NYSEMKT: VOO) gaining 2%.

Today, the market looks to extend those gains as the Voo trades about 0.1% higher pre-market. It remains to be seen what new rabbits the President might pull out of his hat today. Meanwhile, investor focus may be switching to earnings…

Earnings

Abercrombie & Fitch (NYSE: ANF) leads off earnings reports today, announcing it has beaten expectations with $1.59 per share earned in Q1, $0.20 better than expected. The stock is up more than 28% pre-market.

Macy’s (NYSE: M) reported a smaller earnings beat, $0.16 per share in Q1, where analysts expected only $0.15. Macy’s stock is up almost 2%.

The bad news: Both companies cut guidance after reporting their beats. Abercrombie says Q2 earnings will fall below consensus and range between $2.10 per share and $2.30. Full year earnings will probably also miss the mark, ranging from $9.50 to $10.50. Macy’s warned that Q2 earnings could be as little as half the $0.33 Wall Street is expecting. For the full year, the company set a range from $1.60 to $2, well short of analyst forecasts.

Neither company is an S&P 500 component. That doesn’t mean their weak guidance won’t end up weighing on the index today.

Analyst Calls

In analyst action this morning, Baird just upgraded credit rater and S&P 500 component Fair Isaac Corporation (NYSE: FICO) to outperform with a $1,900 price target. Despite regulatory concerns, Baird declared: “We consider FICO Scores the best financial model we’ve seen,” and probably a product the market cannot do without.

The post Stock Market Live May 28: S&P 500 (VOO) Set to Open Higher appeared first on 24/7 Wall St..

Abercrombie & Fitch (NYSE:ANF) raised its annual sales forecast after exceeding Q2 revenue expectations. However, shares of ANF stock fell 17% in today’s session as investors anticipated a larger guidance increase. Despite an 89% stock surge this year, market analysts found the company’s sales outlook impressive, given the challenging retail environment. 

The company’s success was driven by revamping its merchandise, including dressier apparel and cargo pants, attracting fashion-conscious shoppers. While other retailers, like Macy’s and Home Depot, lowered their sales forecasts due to weak demand, Target and Walmart saw strong results as consumers sought budget-friendly options.

Need to Know News:

• Abercrombie & Fitch raised its full-year sales forecast after a 21% Q2 revenue increase, with record sales and improved profitability.
• Despite strong results, ANF stock dropped 17% as investors expected a bigger guidance increase, questioning sustained growth at current valuations.
• If you’re looking for AI stocks that could benefit from the coming ‘supercycle’ described in this article, you absolutely need to grab a copy of our brand-new “The Next NVIDIA” report. It features a “moonshot” software stock with 10X potential, a stock with a monopoly in an essential technology NVIDIA relies on, and much more.

With a shifting market and consumer environment, it all boils down to one question for Abercrombie & Fitch: is the stock a buy?

Let’s Look At Its Strong Sales

Abercrombie & Fitch credited its strong brand portfolio for achieving a record second-quarter sales of $1.1 billion, a 21% increase from the same quarter the year prior. The retailer’s success followed record first-quarter results, driven by fewer promotions and clearer brand identities. CFO Scott Lipesky reported that second-quarter marketing spend aligned with expectations, totaling about 4.5% of sales, slightly down from the first quarter’s 5%.

Abercrombie’s net income for the quarter ending August 3 rose to $133.2 million from $56.9 million the previous year, surpassing analyst expectations of $2.22 per share. Operating income increased to $176 million from $90 million last year. Additionally, net sales grew 21% to $1.134 billion, exceeding estimates. Abercrombie’s sales, including Abercrombie Kids, surged 26%, while Hollister and Gilly Hicks saw a 17% rise. The company’s Americas region’s net sales grew by 23%, and the EMEA division saw a 16% increase, with overall comparable sales up 18%.

CEO Fran Horowitz reported strong second-quarter performance, with better-than-expected sales growth and profitability. The company achieved a 15.5% operating margin and record operating income of $176 million. Despite economic uncertainty, Abercrombie raised its full-year outlook, now expecting 12% to 13% net sales growth, up from 10%, and an operating margin between 14% and 15%. Horowitz emphasized the company’s commitment to disciplined execution, focusing on inventory, expenses, and long-term investments in marketing, digital, technology, and stores to support sustainable, profitable growth.

Post-Earnings Plunge

Abercrombie & Fitch’s stock is still up considerably over the past year, surging more than 150% (inclusive of Wednesday’s drop). However, a drop of roughly 20% at today’s lows suggests that many had expected to see even rosier numbers reported, with a forward outlook that came close to the previous growth the company has seen.

Few can contest that Abercrombie’s management team is taking a measured approach to its recent success. This market is one that’s becoming more fragile, with cracks appearing within certain consumer groups. And while the company did put forward low-double-digit sales growth expectations for the third quarter, sometimes great isn’t good enough for some investors.

Wednesday’s decline marked Abercrombie’s largest daily decline in two years. Analysts attributed the drop to investor expectations, considering the retailer’s recent outperformance and raise bar of expectations. Now trading at 16.7-times forward earnings, above the retail sector’s average of 14 times, some may also view the stock as expensive. This high valuation is the result of the market setting lofty expectations, making it difficult for the company to meet the whisper numbers on the Street.

ANF Stock Still Looks Like a Buy

William Blair analyst Dylan Carden warned that Abercrombie could face margin pressure if sales growth normalizes, with rising costs and competitive pricing potentially impacting margins. Despite this, Dana Telsey from Telsey Advisory Group views the company’s performance positively, noting that a beat and raise is impressive given the broader retail challenges. She rates Abercrombie as Outperform with a $208 target.

Moreover, other analysts remain positive with respect to Abercrombie’s recent report. Jefferies’ Corey Tarlowe rated the stock a Buy with a $215 target, while CFRA upgraded it from Hold to Buy, raising the target to $198. CFRA’s revised outlook reflects confidence in Abercrombie’s strong brand momentum and digital marketing success, with a forward price-earnings ratio of 17.2-times. The company’s robust balance sheet also positions it well for potential share repurchases.

Following CFRA’s upgrade, Abercrombie & Fitch displayed a strong outlook with notable growth. Revenue increased 20.01% year-over-year to $4.47 billion, and quarterly revenue rose 22.1% in Q1 2023. The company also achieved a high gross profit margin of 64.07%. These factors should provide investors with enough reason to buy ANF stock, or at least hold steady, following this report.

The post Abercrombie & Fitch Just Blew Out Earnings and is Up 153% Over the Past Year: Is it a Buy? appeared first on 24/7 Wall St..

While most of the market commentary over the past few years has been lauding technology stock, particularly NVIDIA (NASDAQ: NVDA) and AI stocks, Abercrombie & Fitch (NYSE:ANF)  have quietly minted a fortune for shareholders. Over the past 5 years, Abercrombie & Fitch is up 736% (and 175% the past year alone) as management continues to grow year-over-year sales in addition to creating a culture of financial disciple and stretching operating margins upwards of 15%.

Looking forward to future quarters, will Abercrombie & Fitch continue to reward shareholders or has the stock reached it’s peak? Lets look at the recent quarterly earnings call to pick out what management had to say.

ANF 2025 Outlook

“After our historic success in the first half, our teams are energized and we’ve entered the second half ready to deliver for our global customers. I am thrilled with our start to August and we are raising our full-year sales growth and profitability expectations.” – Fran Horowitz, CEO and Director

Abercrombie tipped off analysts that the company will be increasing full year sales, with net sales growth coming in higher than 2023. Operationally, the company will also be at the top of its range, with operating margins beating 2023.

However, there are a few reasons investors have reason for concern.

“We continue to further strengthen all aspects of the customer journey, developing a consistent, enduring business that can grow and succeed even in these dynamic and often uncertain times.” -Fran Horowitz, CEO and Director

Fran Horowtiz has ANF in a great financial position, but is bracing for an uncertain economy in the coming quarters and tips investors that there could be hiccups as the company navigates economic uncertainties. In addition to external factors, Abercrombie will also have some freight pressure in the near term:

“We expect the gross profit rate to be consistent with 2023 now that we are through the majority of the cotton benefit and we expect to see year-over-year freight pressure in the quarter.” – Scott Lipesky, Executive VP and COO & CFO

Complete ANF Transcripts Call for the 2nd Quarter, 2024

Operator: Good day, and thank you for standing by. Welcome to the Abercrombie & Fitch Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised, today’s conference is being recorded.

I would now like to turn the conference over to your speaker today, Mo Gupta. Please go ahead.

Mohit Gupta: Thank you. Good morning, and welcome to our Second Quarter 2024 Earnings Call. Joining me today on the call are Fran Horowitz, Chief Executive Officer; and Scott Lipesky, Chief Financial Officer and Chief Operating Officer. Earlier this morning, we issued our second quarter earnings release, which is available on our website at corporate.abercrombie.com under the Investors section. Also available on our site is an investor presentation.

Please keep in mind that we will make certain forward-looking statements on the call. These statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions we mentioned today. These factors and uncertainties are discussed in our reports and filings with the Securities and Exchange Commission.

In addition, we’ll be referring to certain non-GAAP financial measures during the call. Additional details and reconciliations of GAAP to adjusted non-GAAP financial measures are included in the release and the investor presentation issued earlier this morning.

Finally, references to Abercrombie brands include our Abercrombie & Fitch and abercrombie kids brands, and references to Hollister brands include our Hollister and Gilly Hicks brands.

With that, I will turn the call over to Fran.

Fran  Horowitz: Thanks, Mo, and thank you all for joining us this morning. I am incredibly proud to report our financial results exceeded the expectations we provided in May and set second quarter company records for both net sales and operating profit. We delivered strong second quarter net sales growth of 21%, reaching $1.1 billion with an operating margin of 15.5%. We achieved these outstanding results while also funding long-term growth priorities across regions and brands.

After our historic success in the first half, our teams are energized, and we’ve entered the second half ready to deliver for our global customers. I am thrilled with our start to August, and we are raising our full year sales growth and profitability expectations. For more context, in 2024, we’ve set out to demonstrate sustainable profitable growth on top of the defining fiscal year results in 2023. I’m so proud of how we’re showing up for our customer, and we are clearly seeing respond.

In addition to record second quarter sales, this was our seventh consecutive quarter of net sales growth in a dynamic, often uncertain consumer environment, which underlies the strength of our brands, our team and our playbook. We work every day to satisfy new and returning customers’ needs across product, voice and experience.

I believe our global brand portfolio is as strong as it’s ever been. Combined with an agile, modern supply chain and a culture of financial discipline, we believe we have all the pieces in place to deliver on our goals across a variety of macro environments.

Sharing a bit detail on Q2, I want to call out a consistent theme we’ve demonstrated over the last 5 quarters. We are delivering strong time results while also maintaining balance in how we’re growing. Our second quarter sales growth was broad-based, fueled by expansion across regions, brands and genders. We also saw growth in both units and AUR consistent with the past 5 quarters. There’s balance in our product, too, with growth across key categories as our teams are delivering lifestyle assortments with increasing relevance to our local customers.

On the gross profit line, we saw 240 basis points of rate expansion compared to last year. This was driven by higher AUR and improved product costs, partially offset by higher freight costs. We also delivered operating leverage in the quarter while funding important marketing, digital, technology and people investments to support our long-term aspirations. All this great work led to operating income of $176 million for the quarter, nearly double the second quarter results from the prior year.

Continuing the theme of balance. We delivered growth across regions in the second quarter. The Americas continued to lead the way with 23% net sales growth, consistent with the first quarter. The Americas grew across markets with nice increases in traffic across direct selling channels.

In EMEA, putting aside a pandemic-related sales rebound in early 2022, we demonstrated growth on growth for the first time in over 10 years, delivering 16% growth on top of 4% in the second quarter of 2023. Customers in both the U.K. and Germany continue to respond to the localized assortments, and we’re engaging with them to increase marketing and brand presence.

Finally, APAC grew 3% in the quarter on comparable sales growth 21%, where we continue to be led by our focused markets of China and Japan as we engage that customer in new and different ways. We are energized to see the progress we’ve made to localize our playbook across regions this quarter, but we know there’s more runway ahead of us.

On to the brands. Abercrombie brands had another outstanding quarter with net sales growth of 26% on top of 26% growth in the second quarter of 2023. Balanced growth continued in men’s and women’s and across categories with seasonal shorts, swims, skirts and dresses performing well. We also saw balanced growth in both AUR and units as well as new and existing customers.

As a follow-up to our highlights in the first quarter, The Wedding Shop continued to contribute nicely and has proven to be a great assortment extension. The reaction from customers has exceeded our expectations, and we have now entered the men’s sizes and suiting options to complement our dresses.

We continue to prioritize customer acquisition at Abercrombie, funding effective marketing campaigns across digital and social channels. We’re excited to enter the back half with more customer activations planned.

In the U.S., we released our latest NFL collection, further expanding on what has been a great partnership. Related to the collection, we have a number of exciting social and digital campaigns planned throughout the season to drive engagement. It’s just one example of how Abercrombie brands is working to win with both new and current customers in the second half of the year.

Moving on to Hollister brands. We continue to build momentum. Net sales growth of 17% exceeded our expectations and accelerated sequentially from 12% growth in Q1. Importantly, the balance continues from first quarter with both men’s and women’s growing as well as expansion in both unit sales and AUR, the latter driven by lower promotions.

On the product side, women saw balanced growth across categories with particular strength in skirts and dresses. In men’s, we saw shorts and graphic tees contribute to the growth.

With the additional week of back-to-school selling in the second quarter, we were pleased to see consistent growth trends, and I’m very happy with how back-to-school is going for us so far.

With great product, our goal now is to amplify the brand. On top of new store locations and refreshed store experiences, we’re investing in incremental marketing to increase engagement and reintroduce Hollister brands to our target audience. This increased marketing investment spans across digital and social channels as well as through authentic real-life experiences and activations. One example is our Feel Good Fest, which is a concert and festival put on in partnership with high schools across the country.

More recently, as back-to-school and fall school sports have kicked off, we launched a Hollister Collegiate Graphic Shop. The collection of quality basics, including crew necks, sweatshirts, hoodies and tees, touting vintage-inspired university logos and graphics represents more than 30 universities across the United States. Hollister brands is building nice momentum, and we believe product collections like this can help bring new customers into the brand.

As we reflect on our team’s success and strong second quarter results, I am as confident as ever in our global growth potential and our ability to make continued progress on growth and profitability in 2024, as reflected in our increased expectation for sales and operating margin. As we enter the back half, our team remains on offense while looking forward to the holiday season, and I’m thrilled with what we’ve seen in the third quarter so far.

Looking further out, with a strong family of brands, a proven playbook and evolving regional operating model, I believe our relationship with the customer continues to improve, and we all see tremendous opportunity ahead. We continue to further strengthen all aspects of the customer journey, developing a consistent, enduring business that can grow and succeed even in these dynamic and often uncertain times. A huge thank you to our associates around the world, whose hard work, dedication and support of our customer, have put us well on our way to sustainable profitable growth in 2024.

And with that, I’ll hand it over to Scott.

Scott D. Lipesky: Great. Thank you. To echo Fran, we were very pleased with the first half of the year. Our teams continue to execute at a high level across the business, managing the day-to-day while continuing to make progress on our long-term investment plan.

Getting into the results for the second quarter. We delivered record net sales of $1.13 billion, up 21% compared to last year with growth across regions and brands. Similar to the first quarter, this is the first time in the history of the company we delivered over $1 billion in net sales in a fiscal second quarter.

On a reported basis, we saw a 320 basis point benefit from the calendar shift from the 53rd week in 2023, consistent with our expectation. Comparable sales grew 18%, representing the fifth consecutive quarter of double-digit comp sales growth in both the stores and digital direct selling channels.

On a regional basis, we again delivered growth across regions. Net sales grew 23% in the Americas, 16% in EMEA and 3% in APAC. On a comp basis, sales grew 18% in the Americas, 17% in EMEA and 21% in APAC. In the Americas, similar to last quarter, we saw balanced growth across markets. In EMEA, the U.K. and Germany continued to lead the way, and we’ve now delivered year-over-year growth for 5 consecutive quarters in the region. In APAC, we saw a large spread from comps and net sales growth which was primarily driven by foreign currency and net store closures.

From a brand perspective, Abercrombie brands delivered strong growth with net sales up 26% to last year while Hollister brands growth accelerated to 17% as our customers responded favorably to our assortments and our marketing. On a comp basis, Abercrombie grew 21% and Hollister grew 15%.

For gross profit, we delivered rate of 64.9% for the quarter, up 240 basis points compared to the 62.5% rate in 2023. We saw year-over-year benefits from lower cotton costs as well as a benefit from lower promotions across brands on well-controlled inventories and strong product acceptance. These benefits were partially offset by higher freight costs. We ended the quarter with inventory up 9% to last year with all brands in a clean position entering the fall season.

Moving on to expenses. Operating expense, excluding other operating income, was $561 million for the quarter compared to operating expense of $497 million last year. We continue to drive operating expense leverage with operating expenses as a percent of sales of 49.4%, an improvement of 380 basis points compared to last year.

We saw similar themes to the first quarter in terms of year-over-year OpEx growth with higher variable expenses on sales growth, as well as inflation and increased investments in marketing, digital and technology and people. For marketing, second quarter expense was in line with expectations, finishing at around 4.5% of sales.

Operating income was a record $176 million or 15.5% of sales compared to operating income of $90 million or 9.6% of sales last year. Net income per diluted share was $2.50, up from $1.10 last year. EBITDA totaled $215 million or 19% of sales compared to EBITDA of $126 million or 14% of sales last year.

On the balance sheet, we ended the quarter with cash and equivalents of $738 million and liquidity of approximately $1.2 billion. We delivered operating cash flow of roughly $165 million and had $43 million of capital expenditures. We repurchased $15 million worth of shares, ending the quarter with $202 million remaining on our current share repurchase authorization.

During the quarter, we fully redeemed the senior secured notes at par value with cash on hand, ending the quarter with no funded debt. We also amended and extended our asset-based credit facility. The maximum size of the credit facility was increased from $400 million to $500 million, inclusive of the new $100 million European sub-facility.

Moving forward, with the redemption of the senior secured notes behind us, we expect to prioritize share repurchases, to put excess cash to work in the back half, subject to business performance, share price and market conditions. At a minimum, we expect to buy back shares to offset net dilution from stock compensation.

On the store fleet, we ended the quarter with 757 stores. For the first half of the year, we opened 18 new stores, remodeled or rightsized 30 stores and closed 26 stores. New and remodeled store performance has exceeded our expectations, and we are excited to deliver many new store experiences in the weeks and months to come. For the full year, we expect to deliver approximately 60 new stores, 60 remodels and rightsizes and 40 closures.

Shifting to our expectations for the rest of fiscal 2024. We’ve had a strong start to the year, delivering record net sales in the first half, and the momentum has continued in the first few weeks of the third quarter. For the third quarter, we expect net sales to be up low double digits compared to third quarter 2023 level of $1.06 billion, including a year-over-year headwind of around $10 million or 90 basis points due to the calendar shift from the 53rd week in 2023. We expect growth across seasons and brands and minimal impact from foreign currency.

We expect operating margin to be in the range of 13% to 14% compared to 13.1% in 2023. We expect the gross profit rate to be consistent with 2023 now that we are through the majority of the cotton benefit, and we expect to see year-over-year freight pressure in the quarter. We also plan to continue investing in our brands and infrastructure, which we expect will moderate potential OpEx leverage, keeping expected operating margins around 2023 levels. And we expect an effective tax rate in the mid-20s.

For the full year, we now expect net sales growth in the range of 12% to 13%, up from the 2023 level of approximately $4.3 billion, an increase in the previous outlook of up around 10%. This outlook continues to include an adverse impact of around $50 million from the loss of the 53rd week in 2023. We’ve included a table in the press release to provide more detail on expected sales and comparative growth impacts by quarter and for the full year.

For operating margin, we expect to be in the range of 14% to 15%, increasing the high ends compared to our prior outlook. We continue to expect the year-over-year improvement to be driven by gross profit rate expansion from the combination of lower cotton costs and higher AURs on lower promotions and clearance selling, slightly offset by higher freight costs.

We also continue to expect full year expense leverage while executing our agile funding process to find ways to accelerate investments in the business in the months to come. We expect an effective tax rate in the mid-20s and capital expenditures of approximately $170 million.

To finish up, we are very happy with how our teams are executing across the business. We delivered record financial results in the first half, improved our balance sheet with the elimination of funded debt and continued to invest in our brands and infrastructure. We look forward to executing our plans in the back half to deliver sustainable, profitable growth this year.
Operator, we are now ready for questions

The post Up 175% This Year, Will Abercrombie & Fitch (ANF) Continue Its Hot Streak appeared first on 24/7 Wall St..

Rue21 is out of business. It had 540 stores and 4,900 employees. It said the primary reason was the spread of e-commerce across the industry. Further, it said that the trend in e-commerce had started to affect it during the COVID-19 pandemic. As Amazon and the largest online retailers in the nation grow, the question is whether Rue21 is the last victim.

Management said, “under-performing retail locations, increased industry competition and the uptick in online shopping, inflation and macroeconomic headwinds, and challenges raising capital.” Macroeconomics seems like a weak argument because the economy has been so strong. Inflation may be a good reason. Labor costs and some of the items used in clothing have a reason. Rue21 catered to teenagers. The company’s primary demographic was people between 13 and 21.

However, Rue21’s teenage target does not seem like a reasonable trigger. Abercrombie & Fitch Co. (NYSE: ANF) shares have soared 46% this year. It is a better-known brand than Rue21 but has a similar demographic profile. However, Abercrombie & Fitch store count is modest at 729.

Among the reasons given, only e-commerce is likely to be the cause. Many retailers have faced Amazon.com Inc.’s (NASDAQ: AMZN) growth. It has been said that Amazon destroyed much of the bricks-and-mortar economy. Since no other argument makes sense, Rue21 may have been another chain that could not handle massive e-commerce competition.

The post Rue21 Collapse a Warning to Retailers appeared first on 24/7 Wall St..

The year 1996 was a record one for initial public offerings (IPOs). More than 800 firms went public, raising over $50 billion. Among the notable IPOs of 1996 were those of venerable retailer Abercrombie & Fitch Co. (NYSE: ANF), German communications giant Deutsche Telekom and several tech companies.

The year was a good one for the stock market overall as well. The bull run that began early in 1995 continued, and it would last until the dot-com crash in 2000. The U.S. economy expanded at a moderate rate in 1996 for the fifth year in a row. Inflation remained tame, and the unemployment rate and poverty were falling, while homeownership headed for a new high. The S&P 500 ended the year at 740.74, a 20.26% gain for the year. The Dow Jones industrials closed the year at 6,448.27, up 26.01%. The Nasdaq’s close was at 1,291.03, which was 22.7% higher.

The following companies all had IPOs in 1996 and are still public. We have ranked them by how well the stocks have performed since then (as of the close on December 11 and split-adjusted).

Century Aluminum

• Company: Century Aluminum Co. (NASDAQ: CENX)
• IPO date: March 28
• IPO price: $13
• Post-IPO performance: −40.2%

Shares of this Chicago-based aluminum producer initially fell after the IPO but ended 1996 more than 26% higher. They are up almost 23% since posting strong quarterly results last month but have run well past the consensus price target of $7.33. Note that the company recently finalized a five-year collective bargaining agreement with the United Steelworkers union.

TTEC

• Company: TTEC Holdings Inc. (NASDAQ: TTEC)
• IPO date: July 31
• IPO price: $14.50
• Post-IPO performance: −22.4%

This Colorado-based IT services provider has been recognized as one of the world’s top companies for women, as well as among the best for career growth. Shares popped almost 10% initially and ended 1996 more than 54% higher. However, so far this year, they have retreated almost 54%, hitting a 52-week low of $15.27 in the wake of its most recent earnings report. The Nasdaq is up more than 37% year to date.

Nu Skin Enterprises

• Company: Nu Skin Enterprises Inc. (NYSE: NUS)
• IPO date: November 27
• IPO price: about $30
• Post-IPO performance: 38.9%

The IPO raised almost $99 million for the Utah-based beauty and wellness products provider. However, the stock retreated more than 32% over the next year. It hit a high near $140 a share in 2014. The share price is up more than 7% since a disappointing third-quarter report, but Nu Skin opened its new manufacturing facility in China since then. The $23 consensus price target suggests there may be 23% or so more upside.

Guess

• Company: Guess Inc. (NYSE: GES)
• IPO date: August 8
• IPO price: about $9
• Post-IPO performance: 164.1%

The stock struggled after the IPO and kept struggling until 2005. It reached an all-time high share price above $57 about two and a half years later. In the past five years, shares have risen about 5%, while the S&P 500 is up about 78% in that time. Guess posted mixed results recently and trimmed its guidance. And co-founder Maurice Marciano retired earlier in the fall.

Viasat

• Company: Viasat Inc. (NASDAQ: VSAT)
• IPO date: December 3
• IPO price: about $4.50
• Post-IPO performance: 518.8%

The IPO raised around $20 million for this California-based communications company. Shares searched for direction in the days after the IPO but went on to reach a high above $90 before the pandemic. Since hitting a 52-week low of $15.02 this past October, the stock is up more than 52%. The $37.14 consensus price target indicates about 56% upside potential. Note that the company recently announced a partnership with Airbus to provide secure aircraft connectivity.

Abercrombie & Fitch

• Company: Abercrombie & Fitch Co. (NYSE: ANF)
• IPO date: September 26
• IPO price: $16
• Post-IPO performance: 566.4%

The S&P 500 has had about the same gain in that time. Despite a pop of almost 10% after the IPO, Abercrombie shares ended 1996 in the red by more than 28%. The Ohio-based apparel retailer’s stock is now trading not far off an all-time high, after climbing more than 138% in the past six months. Its strong third-quarter results were seen by some as a sign of a successful turnaround.

Pegasystems

• Company: Pegasystems Inc. (NASDAQ: PEGA)
• IPO date: July 18
• IPO price: about $6
• Post-IPO performance: 745.2%

Back in October, this enterprise software provider posted strong third-quarter results with record cash flow. The stock is more than 33% higher since then but well off its all-time high of more than $147 during its pandemic rally. Shares started strong, ending 1996 having more than doubled. Four of the five analysts who currently follow the stock recommend buying its shares.

Hub Group

• Company: Hub Group Inc. (NYSE: HUBG)
• IPO date: March 13
• IPO price: about $4
• Post-IPO performance: 1,798.2%

This Illinois-based transportation and logistics company watched its shares pull back after going public, only to jump 20% or so a week later. They hit an all-time high of $104.67 earlier this year. The stock is up around 15% since a soft third-quarter earnings report, while the Dow Jones industrials have gained 11% or so in that time. Most analysts who follow the stock recommend holding shares for now.

Stericycle

• Company: Stericycle Inc. (NASDAQ: SRCL)
• IPO date: August 23
• IPO price: about $2
• Recent price: 1,920.9%

Illinois-based medical waste management services provider was recently recognized as a top green company and one of the best for women to work for. After going public, the stock trended downward and ended 1996 about 30% lower. Then they headed in the right direction until the pandemic, retreating again since. Year to date, they are down less than 4%, and the consensus price target of $52.60 suggests only modest upside for the next 12 months.

Steel Dynamics

• Company: Steel Dynamics Inc. (NASDAQ: STLD)
• IPO date: November 21
• IPO price: about $4
• Post-IPO performance: 2,074.1%

Third-quarter results for this Indiana-based steel manufacturer were hurt by lower steel prices. Still, the share price is up almost 9% since then, perhaps helped by an announced $1.5 billion share repurchase plan. After the IPO, shares traded in the red for a few weeks before heading higher. The all-time high share price of $136.46 was seen earlier this year. Despite being more than 17% lower since then, the share price is still higher than the consensus price target.

Iron Mountain

• Company: Iron Mountain Inc. (NYSE: IRM)
• IPO date: January 31
• IPO price: about $3
• Post-IPO performance: 2,173.9%

After a slow start in 1996, shares trended higher. They were last seen trading near an all-time high, which is a year-to-date gain of around 33%. The consensus recommendation is to buy shares, even though the stock has overrun the consensus price target. Note that CEO William Meaney and another executive recently sold shares of this New Hampshire-based storage and information management company.

Lithia Motors

• Company: Lithia Motors Inc. (NYSE: LAD)
• IPO date: December 18
• IPO price: $11
• Post-IPO performance: 2,302.2%

The IPO for this auto retailer raised $31 million. The stock surged during the pandemic, when a shortage of inventory boosted car prices. The all-time high was above $406, and shares are down about 32% since then, in part due to a mixed third-quarter report. Analysts on average recommend buying shares, and the stock is a top pick of billionaire investor David Abrams.

FTI Consulting

Company: FTI Consulting Inc. (NYSE: FCN)
IPO date: July 8
IPO price: $9
Post-IPO performance: 4,290.5%

This IPO raised about $11 million for the Houston-based energy services company. The stock didn’t pick up much momentum for a few years. Then really took off in 2018, hitting an all-time high of $232.15 earlier this month. Better-than-expected third-quarter results helped it get there, and FTI announced it would sell its measurement solutions business. The consensus price target doesn’t suggest much upside potential, not until analysts revise their targets.

Check Point Software Technologies

• Company: Check Point Software Technologies Ltd. (NASDAQ: CHKP)
• IPO date: June 28
• IPO price: $14
• Post-IPO performance: 3,575.8%

Israeli IT security firm raised $67 million with its initial offering of public shares. Most of its gain has come since the beginning of 2003, when shares changed hands for about $16 apiece. Shares were last seen trading near an all-time high shy of $150. That is up more than 18% year to date, though the Nasdaq is more than 38% higher in that time. The company posted strong earnings for its most recent quarter, though billings were soft.

Ansys

• Company: Ansys Inc. (NASDAQ: ANSS)
• IPO date: June 20
• IPO price: $13
• Post-IPO performance: 9,467.1%

The IPO garnered this engineering software company about $46 million. The chart for this one shows shares marching steadily higher until about 2006. The stock is down more than 26% in the past two years. Note that Ansys remains a serial acquirer of other companies. In addition, Newsweek just named it one of America’s most responsible companies.

FactSet Research Systems

• Company: FactSet Research Systems Inc. (NYSE: FDS)
• IPO date: June 28
• IPO price: about $4
• Post-IPO performance: 10,005.7%

This is the best performer of the IPOs of 1996. Note that insiders at this Connecticut-based financial information provider, including CEO Frederick Snow, have been selling shares. The share price is within about 5% of the all-time high near $495 seen in 2021. Year to date, the stock is up almost 12%, which puts it just above the consensus price target. Analysts have a consensus rating on the shares of Hold and have for at least three months.

The post 16 Companies With IPOs in 1996: Best and Worst Performers appeared first on 24/7 Wall St..

This week brings quarterly earnings reports from a host of retailers not named Walmart or Target. Four companies – Best Buy Co. Inc. (NYSE: BBY), Kohl’s Inc. (NYSE: KSS), Abercrombie & Fitch Co. (NYSE: ANF), Dick’s Sporting Goods Inc. (NYSE: DKS), and Lowe’s Companies Inc. (NYSE: LOW) – reported results before markets opened Tuesday morning. 

Only one appears in a position to score a win during this year’s holiday season. In baseball, a one-for-five batting average is known as the Mendoza Line. Here’s a look at Tuesday morning’s Mendoza Line in U.S. markets.  

Lowe’s

The holiday season is typically the weakest for home improvement retail stores, and this year is no different. Lowe’s missed analysts’ consensus revenue estimate by 1.7%, reporting revenue of $20.5 billion. Adjusted EPS came in at $3.06, above the consensus estimate of $3.03. 

The bad news was a year-over-year drop of 7.4% in same-store sales. CEO Marvin Ellison attributed the drop “to a decline in DIY discretionary spending, partially offset by positive Pro customer comp sales.”

In its outlook for the 2023 fiscal year ending in January, Lowe’s lowered its revenue estimate from a range of $87 to $89 billion to $86 billion. The consensus estimate called for revenue of $87.6 billion. Same-store sales are forecast to be down 5%, lower than prior guidance for a drop of 2% to 4%. Estimated adjusted EPS dropped from a prior range of $13.20 to $13.60 to $13.00. 

The stock traded down 3.1% at $198.13 shortly after Tuesday’s opening bell. The stock’s 2-week range of $181.85 to $237.21. Lowe’s pays an annual dividend of $4.40 (yield of 2.15%).

Best Buy

SAN FRANCISCO – JUNE 19: A salesman carries a Best Buy shopping basket as he takes inventory of DVD movies at a Best Buy store June 19, 2007 in San Francisco, California. Consumer electronics retailer Best Buy reported an 18 percent drop in first quarter to $192 million or 39 cents per share, down from $234 million or 47 cents per share one year ago. (Photo by Justin Sullivan/Getty Images)

SAN FRANCISCO – JUNE 19: A salesman carries a Best Buy shopping basket as he takes inventory of DVD movies at a Best Buy store June 19, 2007 in San Francisco, California. Consumer electronics retailer Best Buy reported an 18 percent drop in first quarter to $192 million or 39 cents per share, down from $234 million or 47 cents per share one year ago. (Photo by Justin Sullivan/Getty Images)

Although it beat the consensus EPS estimate by 7.5%, revenue fell short, coming in at $9.78 billion, lower than ‌analysts’ consensus of $9.90 billion. Company-wide same-store sales dropped 6.9%, and U.S. same-store sales fell 9.3%. Domestic online sales of $2.75 billion fell 9.3% on a comparable basis, and as a percentage of total U.S. revenue, online revenue was 30.6% versus 31.0% last year.

Best Buy said the decline in same-store sales was down to appliances, computing, home theater, and mobile phones. All are big-ticket items, so it’s not hard to figure out what happened.

In its guidance for the fourth quarter of fiscal 2024 (ending in January), Best Buy lowered its revenue forecast from a range of $43.8 to $44.5 billion to a new range of $43.1 to $43.7 billion. Analysts were looking for full-year sales of $44.14 billion, a year-over-year decline of more than 4.5%, before the company’s new guidance. Same-store sales are expected to decline by 6% to 7.5%, another downward revision. Adjusted EPS is now forecast to top out at $6.30, down from $6.40. The low end, $6.00, was unchanged. 

Best Buy’s stock traded down 4.7% early Tuesday at $64.90 in a 52-week range of $62.30 to $93.32. Best Buy pays an annual dividend of $3.68 (yield of 5.4%).

Kohl’s

Department store retailer Kohl’s also missed the revenue estimate and revised sales guidance for the 2023 fiscal year that ends in January. The good news is that EPS was better than expected and Kohl’s raised the low end of this full-year EPS guidance. It was not enough to mollify investors, however.

The company reported revenue of $3.8 billion, down 5.2% year over year and short of the consensus $3.95 billion estimate. EPS came in at $0.53, well above the analyst’s $0.37 consensus. Gross margins rose by about half a point to 39.0%. Expenses declined slightly year over year but so did operating income. 

In its outlook for fiscal 2023, Kohl’s forecast a sales drop of 2.8% to 4%, much worse than the consensus estimate for a decline of 1.45%. The retailer raised the low end of its expected EPS range, but that wasn’t enough to boost investors’ spirits.

Kohl’s stock traded down 8.8% at $22.68 early Tuesday. The stock’s 52-week range is $17.68 to $35.77. Kohl’s pays an annual dividend of $2.00 (yield of 8.05%).

Abercrombie & Fitch

Specialty retailer Abercrombie & Fitch actually beat both revenue and EPS estimates Tuesday morning. A&F even raised guidance. Yet the stock is taking a beating in early trading. Look no further than the 52-week high that was posted Monday. A&F has delivered, and now investors are taking their cut. 

The company reported third-quarter sales of $1.06 billion, 20% higher than in the year-ago quarter and 8% higher than the consensus estimate. EPS rose from $0.01 a year ago to $1.83 and came in 56.4% higher than the consensus. Same-store sales rose 16%.

In its outlook for the 2023 fiscal year that ends in January, A&F expects sales to grow by 12% to 14% (a range of $4.14 to $4.22 billion). The low end of the range is slightly better than the consensus estimate for sales of $4.11 billion. Year-over-year EPS growth is pegged at more than 1,700%, up from $0.25 last year to $4.63.

Profit-taking has probably caused the share price to decline by 6.3% early Tuesday to $67.75, in a 52-week range of $18.30 to $74.75. A&F does not pay a dividend.

Dick’s Sporting Goods

Sporting gear retailers like Dick’s generally report their best revenue and EPS figures in the holiday quarter. That makes the company’s third-quarter report shine even more brightly.

Dick’s reported third-quarter revenue of $3.04 billion, up 2.8% year over year and 3% better than the consensus estimate. Adjusted EPS rose 10% year over year to $2.85, beating the consensus of $2.46 by 15.9%. Same-store sales rose 1.7% year over year.

In its fiscal year 2023 outlook, the company sees adjusted EPS of $12.00 to $12.60, nicely above the consensus of $11.82. Same-store sales should rise by 0.5% to 2.0%. Dick’s did not offer revenue guidance, but the consensus estimate calls for a year-over-year increase of 3.35%. That may seem low, but the fourth-quarter consensus is nearly 5% above last year’s actual results. Unlike some other retailers we could name, Dick’s is being set a relatively high bar for the holiday quarter.

The stock traded up 9.7% at $130.60 early Tuesday morning in a 52-week range of $100.98 to $152.81. Dick’s pays an annual dividend of $4.00 (yield of 3.36%).

The post 5 Retailers Reported Earnings Tuesday Morning; Only One Is a Winner  appeared first on 24/7 Wall St..

The futures traded higher to start off the week, after a big bounce back on Friday that saw all the major indexes finish the day higher and snap a three-week losing streak. This was after the big sell-off on Thursday that came on the heels of huge numbers from AI chip giant Nvidia. All eyes on Friday were once again on Federal Reserve Chair Powell, who delivered his annual address at the Jackson Hole Symposium. The song remained the same, as he hammered some of the same themes as last year.

While noting that progress is being made in the inflation fight, Powell warned once again that “some pain” may still need to be endured to bring inflation down to the 2% target. He also noted that inflation remains “too high” and that the Fed is prepared to raise rates further to achieve its goal. The consumer price index data for August, which will be released on September 13, could prove to be a deciding factor for a rate hike at the end of the month.

Treasury yields were mostly higher across the curve on Friday, with the one- to seven-year maturities seeing the biggest selling. Needless to say, the bond market will keep a close eye on the data as we head into the fall. The 10-year note closed the day at 4.24%, while the two-year short paper was last seen at 5.08%. The inversion has been in place for almost a year and tends to precede recession.

Brent and West Texas Intermediate crude both roared back to life Friday after a rough stretch for the oil markets. Both of the major benchmarks finished the day up over 1%, at $84.61 and $79.96, respectively. The gains were not enough to prevent a second consecutive weekly drop after a strong summer rally. In addition, natural gas closed the week up 1.2% at $2.55.
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Gold finished the week modestly lower, as the December contract closed at $1,940.90. Traders noted the expected hawkish stance from the Fed Chair with little surprise, as he reiterated much of what was said at the last FOMC meeting in July. Bitcoin had another grim day, closing down 0.62% at $26,001.90.

24/7 Wall St. reviews dozens of analyst research reports each weekday with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top Wall Street analyst upgrades, downgrades and initiations seen on Monday, August 28, 2023.

Abercrombie & Fitch Co. (NYSE: ANF): Morgan Stanley upgraded the stock to Equal Weight from Underweight. The analyst also lifted its $18 target price all the way to $51, shy of the $52 consensus target. The stock closed on Friday at $50.16 a share.
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Affirm Holdings Inc. (NASDAQ: AFRM): Goldman Sachs lifted its $14.50 target price on the stock, which it has rated at Neutral, to $16.50. The consensus target is $14.71 for now. Friday’s  $17.79 close was up 29% on the day after it posted earnings that soared for the quarter.
APA Corp. (NYSE: APA): Goldman Sachs raised its $30 target price on the Sell-rated shares to $34. The consensus target is higher at $49.19. Friday’s final trade was for $42.73 a share.

Chewy Inc. (NYSE: CHWY): Wedbush reiterated an Outperform rating but cut its $45 target price to $31. The consensus target is $44.08. The stock closed on Friday at $25.76.

Ciena Corp. (NYSE: CIEN): Recommending caution ahead of earnings, Zacks selected this stock as its Bear of the Day. Shares have traded as high as $54.25 in the past year but closed most recently at $41.49. That is down more than 18% year to date.

Crestwood Equity Partners Inc. (NYSE: CEQP): The Raymond James downgrade was from Outperform to Market Perform with a target price of $30. The consensus target is $28.50. Friday’s close was at $28.08.

Cullen/Frost Bankers Inc. (NYSE: CFR): When UBS upgraded the stock to Neutral from Sell, the $100 price target rose to $103. The consensus target is $117.71. The last trade on Friday was for $95.13 a share.

Digital Realty Trust Inc. (NYSE: DLR): Though Deutsche Bank cut its Buy rating to Hold, its target price increased to $131 from $112. That compares with the $123 consensus target and Friday’s closing print of $126.28.

Dollar Tree Inc. (NASDAQ: DLTR): Telsey Advisory reiterated an Outperform rating. The analyst also trimmed the $162 target price to $160, while the consensus target is $164. The stock closed on Friday at $125.95.

FactSet Research Systems Inc. (NYSE: FDS): The RBC Capital Markets downgrade to Sector Perform from Outperform came with a target price cut to $464 from $500. The consensus target is lower at $438.29. Friday’s closing share price was $429.56.
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Fidelity National Information Services Inc. (NYSE: FIS): Evercore ISI downgraded the stock to In Line from Outperform. The firm also lowered its target price to $60, below the consensus target of $73.93. The stock closed on Friday at $54.73.

GE Healthcare Technologies Inc. (NASDAQ: GEHC): Argus started coverage with a Buy rating and a $80 price objective. The consensus target is $89.67, and the shares closed on Friday at $68.59.

Hasbro Inc. (NASDAQ: HAS): Stifel reiterated a Buy rating and raised its target price to $94 from $79. The consensus target is $81.00. The shares were last seen on Friday trading at $69.68, which was up almost 6% for the day.

Ichor Holdings Ltd. (NASDAQ: ICHR): Needham reiterated a Buy rating for the company, but it also trimmed its $42 target price to $40. The posted consensus target is $41.00, and the shares ended Friday’s session trading at $33.75.
Netflix Inc. (NASDAQ: NFLX): Loop Capital raised its Hold rating to Buy and its price target to $500 from $475. The consensus target is $421.20. Friday’s close was at $416.03.

Nordstrom Inc. (NYSE: JWN): Although Telsey Advisory reiterated a Market Perform rating on the popular high-end retailer, it also trimmed its target price to $19 from $21. The consensus target is $19.20. The stock closed on Friday at $15.52, down almost 8% for the day despite earnings that were better than expected.

Palo Alto Networks Inc. (NASDAQ: PANW): Zacks makes the case that its Bull of the Day stock is headed for all-time highs. Its shares last closed at $230.76 apiece, and its $271.90 consensus price target would be an all-time high.

Trex Co. Inc. (NYSE: TREX): Citigroup initiated coverage with a Neutral rating, and it has a $72 target price. The consensus target is $76.56, and the shares closed at $68.63 on Friday.
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Shift4 Payments Inc. (NYSE: FOUR): Morgan Stanley upgraded the stock to Equal Weight from Underweight and raised their target price on the stock to $57 from $52. The consensus target is much higher at $83.05. The shares closed Friday at $55.76.

Western Alliance Bancorp. (NYSE: WAL): Piper Sandler resumed coverage with an Overweight rating and a $60 target price. The consensus target is $58.63. The shares closed on Friday at $49.13.

Workday Inc. (NASDAQ: WDAY): Needham reiterated a Buy rating and raised its $220 target price to $250. The consensus target is $239.79. The shares ended Friday trading at $236.97 a share.
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Nvidia stock has exploded higher over the past year, and five more outstanding tech stocks are poised to ride the artificial intelligence tsunami.

Banks, automakers and utilities are among the 25 biggest bankruptcies in American history. And see which are North America’s best airlines.

Friday’s top analyst upgrades and downgrades included Abercrombie & Fitch, Amazon.com, AMC Entertainment, Analog Devices, Discover Financial Services, Estee Lauder, Foot Locker, International Flavors & Fragrances, NetApp, Nvidia, Peloton Interactive and Xcel Energy.

The post Monday’s Top Analyst Upgrades and Downgrades: Chewy, Dollar Tree, GE Healthcare, Netflix, Nordstrom, Palo Alto Networks and More appeared first on 24/7 Wall St..

The futures were trading higher after a wild day across Wall Street on Thursday that saw the Nasdaq and the S&P 500 explode higher early on the strength of blowout results from AI chip giant Nvidia, and then all the major indexes reversed and ended the day lower in a big way. The Nasdaq was down almost 2%.

All eyes are now focused on Federal Reserve Chair Powell who will deliver his annual Jackson Hole Symposium speech Friday, and all indications are that he will continue to lean very hawkish and interest rate decisions will continue on a “data dependent” basis.

Investors will have to wait until September 13 for the August consumer price index data, and if it trends higher, there may be another interest rate increase at the end of September. Another 25-basis-point increase in the federal funds rate would lift the benchmark lending rate to 5.50% to 5.75%, the highest level since 2001.

Treasury yields closed Thursday higher across the curve, after massive buying Wednesday as investors took advantage of the highest yields for some maturities in over a decade. The 10-year note closed the day at 4.24%, while the shorter two-year paper was last seen at 5.02%, a level that often attracts buyers. The 78-basis-point inversion is still cause for concern, as it indicates the potential for recession down the road.
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Brent and West Texas Intermediate crude both closed flat Thursday, as growing concerns over the U.S. and China economies are threatening what has been a strong summer rally for the black gold. While a slight down tick for the benchmarks, traders jumped on the early weakness and almost pushed both benchmarks positive by the close. Brent closed at $83.20, while WTI finished the session at $78.88. Natural gas closed Thursday up modestly at $2.51.

Gold was also flat Thursday, after the bullion showed some signs of life earlier in the week Analysts cited the drop in U.S. durable goods in July and the decline in the weekly jobless claims as a slight headwind. The December contract for the precious metal closed at $1,944.40. Bitcoin was hammered again, closing the day down 1.4% at $26,058.90, a stunning 16% decline since early July.

24/7 Wall St. reviews dozens of analyst research reports each weekday with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top Wall Street analyst upgrades, downgrades and initiations seen on Friday, August 25, 2023.
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Abercrombie & Fitch Co. (NYSE: ANF): Telsey Advisory reiterated an Outperform rating and lifted its $47 target price to $56. The consensus target is $46.50. Thursday’s closing share price was $50.45.

Amazon.com Inc. (NASDAQ: AMZN): Piper Sandler reiterated an Overweight rating, and the analyst boosted the $175 target price to $185. The consensus target is $169.71. The stock closed at $131.84 on Thursday.
AMC Entertainment Holdings Inc. (NYSE: AMC): Wedbush raised its Underperform rating to Neutral and has a $19 target price. The consensus target is just $1.99, which likely has not been adjusted for the stock’s reverse split. The shares closed 26% lower on Thursday at $14.43.

Analog Devices Inc. (NYSE: ADI): Piper Sandler downgraded the stock from Overweight to Neutral with a $190 target price. The consensus target is $202.25. Thursday’s close was at $173.69.

Ashland Inc. (NYSE: ASH): Citing falling earnings estimates and stock price, Zacks selected this chemical company as its Bear of the Day. The stock has traded as high as $114.36 in the past year but closed most recently at $84.37. That is down more than 21% year to date.

Discover Financial Services (NYSE: DFS): Wolfe Research upgraded the shares to Outperform from Peer Perform, but its $104 target price is less than the consensus target of $114.15. The stock closed on Thursday at $89.13.

EPAM Systems Inc. (NYSE: EPAM): Scotiabank initiated coverage with a Sector Perform rating and a $265 target price. The consensus target is $278.50. The stock closed at $242.10 on Thursday.

Estee Lauder Companies Inc. (NYSE: EL): Bernstein cut its Outperform rating to Market Perform and its $230 price target all the way to $160. That compares with the $200.47 consensus target and Thursday’s closing print of $150.72.

Foot Locker Inc. (NYSE: FL): Telsey Advisory reiterated an Outperform rating but slashed its $36 target price to $22. The consensus target is $24.11. The stock closed almost 5% higher on Thursday at $17.43.
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Genmab A/S (NASDAQ: GMAB): BTIG Research started coverage with a Buy rating and a $44 target price. The consensus target is $44.41. Thursday’s final trade for $37.30 a share.

Globant S.A. (NYSE: GLOB): Scotiabank initiated coverage with a Sector Outperform rating and a $210 target price. The consensus target is $281.70. The stock closed on Thursday at $186.93.

Integra LifeSciences Holdings Corp. (NASDAQ: IART): Morgan Stanley downgraded the stock to Equal Weight from Overweight and has a $44 target price. The consensus target is $48 for now. Thursday’s $41.03 close was down over 3% for the day.

International Flavors & Fragrances Inc. (NYSE: IFF): Morgan Stanley’s downgrade to Equal Weight from Overweight came with a target price cut to $75 from $112. The consensus target is $81.25 for now. Thursday’s close at $65.40 was down almost 3% after the downgrade. The company cut full-year sales guidance earlier this month.
Magna International Inc. (NYSE: MGA): Scotiabank resumed coverage with a Sector Outperform rating and a $61 target price. The consensus target is $67.00. The stock closed on Thursday at $56.24.

NetApp Inc. (NASDAQ: NTAP): TD Cowen reiterated an Outperform rating and bumped its $85 target price up to $90. The consensus target is $76.30. The stock closed on Thursday at $75.53.

Nvidia Corp. (NASDAQ: NVDA): Stifel upgraded the stock from Hold to Buy, and its $440 target price jumped to $600. The consensus target is $524.19. Shares closed barely higher on Thursday at $471.63, while trading as high as $502.30 early in the session after the company posted huge earnings and strong guidance. However, the stock may have been a victim of its own success and investors bought the rumors and sold the news.

Peloton Interactive Inc. (NASDAQ: PTON): BofA Securities reduced its Buy rating to Neutral and its $13 target price to $6.50. The consensus target is $9.83. The stock was last seen trading at $5.51 on Thursday.

Prudential Financial Inc. (NYSE: PRU): Raymond James upgraded the stock to Outperform from Market Perform. Its $125 target price is well above the consensus target of $96.82. The shares ended Thursday’s session over 2% higher at $93.44.
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Vizio Holding Corp. (NYSE: VZIO): When BofA Securities downgraded the stock to Underperform from Buy, its target price fell to $6 from $11. The consensus target is $11.92. The stock closed on Thursday at $5.55.

Williams-Sonoma Inc. (NYSE: WSM): The BofA Securities upgrade to Neutral from Underweight included a target price hike to $146 from $108. The consensus target is $132.16. The shares closed on Thursday at $139.63

Xcel Energy Inc. (NYSE: XEL): Barclays initiated coverage with an Equal Weight rating and a $60 target price. The consensus target is $67.82. Thursday’s close was at $ 57.01.
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At a challenging time of the year for the stock market, five Goldman Sachs top stock picks with double-digit upside potential make good sense for growth stock investors looking for ideas that will continue to work regardless of the economy.

See which big banks have fared the best since the financial crisis.

Thursday’s top analyst upgrades and downgrades included Amazon.com, American Electric Power, Amgen, BHP, Duke Energy, General Mills, KeyCorp, Lowe’s Companies, Macy’s, Marvell Technology, Netflix, Southern Company, SunRun, Super Micro Computer and Walmart.

The post Friday’s Top Wall Street Analyst Upgrades and Downgrades: Amazon, AMC, Analog Devices, Discover Financial, Estee Lauder, Foot Locker, Nvidia, Peloton and More appeared first on 24/7 Wall St..

The futures were trading mixed after a huge Monday that saw all the major indexes finish the day higher, with the Nasdaq’s 1.5% gain leading the way. With the consumer price index (CPI) results coming in pretty much as expected, many feel that Federal Reserve Chair Powell will still announce a skip in raising rates tomorrow, but not a pause. While overall market breadth has improved as stocks have surged higher, many feel that this current run is close to over, and the back half of the year may be another story for investors after a very solid first half.

Treasury yields were mixed to slightly higher across the board, as bond traders also were tracking the CPI results and with the potential for more increases after a June pause. Many will be closely scrutinizing Powell’s remarks when he addresses the media on Wednesday. The 10-year note finished the day yielding 3.77%, while the two-year paper closed at 4.58% the highest since early March. The inversion in yields for the two securities signals recession is in our future.

Brent and West Texas Intermediate crude were the big losers to start the week. The former finished the day down 3.9% and WTI a stunning 4.3%. The oil benchmarks closed down 2% last week to finish lower for the sixth time in the past eight weeks. Goldman Sachs lowered its year-end 2023 target price to $86, and that was cited as a big reason for the selling Monday, along with concerns for the potential for continued interest rate hikes. Natural gas finished the day slightly higher at $2.27.

Gold finished the day lower as well, closing down 0.30% at $1971. Top analysts cited the Treasury’s huge need to sell bonds to replenish its coffers as a negative for the markets as it could cause a massive liquidity drain, which some feel ultimately could be quite positive for the bullion. Bitcoin finished the day modestly lower, down 0.15%, at $25,896.
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24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, June 13, 2023.

Abercrombie & Fitch Co. (NYSE: ANF): Argus upgraded the stock to Buy from Hold and has a $41 target price. The consensus target of $30.60 is below Monday’s $34.39 closing share price.

Ameren Corp. (NYSE: AEE): KeyBanc Capital Markets raised its Sector Weight rating to Overweight with a $90 target price. The consensus target is $93.80. Monday’s close was at $83.53.
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Ares Management Corp. (NASDAQ: ARES): Wells Fargo downgraded the shares to Equal Weight from Overweight, and it trimmed its $99 target price to $93. The consensus target is $99.18, and shares closed on Monday at $92.92.
AutoZone Inc. (NYSE: AZO): Evercore ISI lifted its Underperform rating to Outperform and its target price objective is $2,7o0 from $2,640. The consensus target is $2,772.86. The stock closed on Monday at $2,415.

Bill Holdings Inc. (NYSE: BILL): Morgan Stanley downgraded the shares to Equal Weight from Overweight. Its $105 target price compares with a $115.21 consensus figure and Monday’s close at $115.51.

Carnival Corp. & PLC (NYSE: CCL): When BofA Securities upgraded the stock to Buy from Neutral, it also boosted its $11 target price to $20. The consensus target is $11.50. The shares closed on Monday at $14.72, which was up 12.5% after multiple positive reports and upgrades, as well as the announcement that first-quarter bookings were the most in the company’s history.

CenterPoint Energy Inc. (NYSE: CNP): Guggenheim’s upgrade was from Neutral to Buy with a $32 price target. The consensus target is $32.17. Monday’s close was at $29.12.

Editas Medicine Inc. (NASDAQ: EDIT): Raymond James upgraded the stock to Outperform from Market Perform and has a $17 target price. The consensus target is $12.76. Monday’s $9.93 close was almost 3% higher for the day on the upgrade.

Extra Space Storage Inc. (NYSE: EXR): Evercore ISI upgraded the stock to Outperform from Underperform, but its $164 target price is less than the consensus target of $170.50. The stock closed on Monday at $145.37.

International Paper Co. (NYSE: IP): Citing a share price decline and fading earnings outlook, Zacks named this stock as its Bear of the Day. Shares have traded as high as $45.18 in the past year but closed most recently at $31.33.

Jazz Pharmaceuticals PLC (NASDAQ: JAZZ): Though Wells Fargo resumed coverage with an Equal Weight rating, the analyst slashed the $184 price target to $140. The consensus target is $201.47. The stock closed at $125.61 on Monday.
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Kinetik Holdings Inc. (NASDAQ: KNTK): Scotiabank upgraded the stock to Sector Perform from Sector Outperform but lowered its $60 price target to $47. The consensus target is $36.50, and shares closed on Monday at $33.66, which was up 2.5% on the day.

Methanex Corp. (NASDAQ: MEOH): Scotiabank downgraded the shares from Sector Perform to Sector Outperform with a $50 target. The consensus target is $55.00. Monday’s close was at $40.56.

Oracle Corp. (NYSE: ORCL): Wolfe Research’s upgrade was to Outperform from Peer Perform. Its $130 target price compares with a $103.62 consensus figure. The stock closed almost 6% higher on Monday at $116.43 due to multiple upgrades.

Palantir Technologies Inc. (NYSE: PLTR): BofA Securities reiterated a Buy rating on the stock and lifted its 13 target price to $18. The consensus target is $9.50 for now. Monday’s close at $15.65 was up 4% for the day on the strong AI interest and a strong tech tape.
Petrobras Brasileiro S.A. (NYSE: PBR): As J.P. Morgan raised its Neutral rating to Overweight, its target price increased to $15.50 from $11.50. The consensus target is $13.65. The shares ended Monday at $13.98.

Rexford Industrial Realty Inc. (NYSE: REXR): BMO Capital Markets downgraded the shares to Market Perform from Outperform. The firm also cut its $69 target price to $56, well below the $69.88 consensus target. The shares finished Monday’s session at $50.99.

Rockwell Automation Inc. (NYSE: ROK): Zacks makes the case that broader economic trends benefit its Bull of the Day stock. Shares hit a 52-week high of $309.92 on Monday and are up more than 20% year to date.

Saia Inc. (NASDAQ: SAIA): Jefferies started coverage with a Buy rating and a $350 target price. The consensus target is $310.20. The stock closed on Monday at $305.24, a one-day gain of almost 4%.

SentinelOne Inc. (NYSE: S): Morgan Stanley upgraded the shares to Overweight from Equal Weight and lifted its $15 target price to $20, above the $17.92 consensus target. Monday’s closing print of $15.74 was up 8% for the day on the upgrade and the oversold conditions for the shares.

Ternium S.A. (NYSE: TX): BofA Securities cut its Buy rating to Neutral and its target price to $47 from $56. The consensus target is $50.27. The stock closed on Monday at $40.52, down over 4% for the day after the downgrade.
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Trade Desk Inc. (NASDAQ: TTD): Citigroup reiterated a Buy rating and boosted its $76 target price to $86. The consensus target is $72.56. The shares closed on Monday at $75.48.

Valvoline Inc. (NYSE: VVV): Morgan Stanley resumed coverage with an Equal Weight rating and a $40 target price. The consensus target is $42.20, and shares closed on Monday at $37.39.

Walmart Inc. (NYSE: WMT): Exane BNP Paribas initiated coverage with an Outperform rating and a $186 target price. The consensus target is $168.43. Monday’s close was at $154.10,
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Caterpillar and Kroger are rated Buy across Wall Street and this week are among companies expected to boost their dividends, showing that they are doing well and have the earnings and cash flow strength to increase their payouts.

Check out the good, the bad and the ugly of owning a Ford F-150.

Monday’s top analyst upgrades and downgrades included Activision Blizzard, Adobe, Caesars Entertainment, Corning, DocuSign, Park Hotels & Resorts, PayPal, Target, Trip.com, Twilio and UiPath.

The post Tuesday’s Top Analyst Upgrades and Downgrades: Bill, Carnival, Oracle, Palantir, Petrobras, Valvoline, Walmart and More appeared first on 24/7 Wall St..

The three major U.S. equity indexes closed sharply lower Monday. The Dow Jones industrials dropped 1.91%, the S&P 500 lost 2.14% and the Nasdaq tumbled by 2.55%. All 11 sectors ended the day with losses, led by communications services (2.9%), technology (2.8%) and consumer cyclicals (2.8%). The 10-year Treasury note popped above 3% for the first time in a month, while meme stocks AMC (down 42%) and Bed Bath & Beyond (down 16%) continued sinking. About half an hour after Tuesday’s opening bell, the three major indexes traded slightly lower.
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After markets closed Monday, Palo Alto Networks reported better-than-expected profit and revenue. The company also raised full-year guidance for earnings per share (EPS) and revenue. Shares were up about 11.3% early Tuesday.

Zoom Video beat EPS estimates but missed analysts’ consensus revenue estimate. The company also released downside guidance for the current quarter and for the fiscal year. Early trading had the stock down about 11.0%.
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Before markets opened on Tuesday, JD.com reported better-than-expected profit and revenue. The stock traded down by about 1.5%.

KE Holdings also beat both top-line and bottom-line estimates but issued downside guidance for the current quarter. The stock traded down by about 1.2%.

Macy’s also beat estimates on both the top and bottom lines. Current-quarter guidance was a bit short of the profit estimate but higher than the consensus revenue estimate. Inventory remains an overhang. Shares traded up more than 5%.

Medtronic beat the EPS estimate by a penny, but revenue came in better than expected. The company reaffirmed prior fiscal-year guidance. Shares traded down about 2.6%.

After markets close Tuesday, Nordstrom, Petco, Toll Brothers and Urban Outfitters are expected to post their quarterly results. We also have previewed four companies reporting earnings after markets close on Wednesday: Nvidia, Salesforce, Snowflake and Splunk.
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Here is what to expect when these four companies report results first thing Thursday morning.

Abercrombie & Fitch

Specialty retailer Abercrombie & Fitch Co. (NYSE: ANF) has shed about 48% of its share price over the past 12 months. The stock price plunged following the company’s first-quarter earnings report and sunk even lower to a 52-week low in mid-July. High inventory levels and falling margins are weighing on the share price. Analysts are not expecting much, so the company better deliver more than expected.
Analysts are mildly bullish on A&F stock, probably because expectations are so low. Half of the 10 brokerages have a Hold rating, and four more have a Buy rating. At a recent share price of around $19.80, the upside potential based on a median price target of $24.00 is 21.2%. At the high price target of $30.00, the upside potential is 51.5%.
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Consensus estimates call for A&F to post revenue of $843.56 million in the second quarter of fiscal 2023. That is 3.8% higher sequentially and down 2.5% year over year. Adjusted EPS are tabbed at $0.23, compared to the prior quarter’s loss per share of $0.27 and down 27.6% year over year. For the full fiscal year, analysts expect EPS of $1.91, down 56.1%, on revenue of $3.73 billion, up 0.4% compared to the 2022 fiscal year.

A&F stock trades at around 10.4 times expected 2023 EPS, 7.9 times estimated 2024 earnings of $2.52 and 10.3 times estimated 2025 earnings of $1.92 per share. The stock’s 52-week range is $16.24 to $48.97, and the company does not pay a dividend. Total shareholder return for the past year was negative 47.9%.

Coty

Beauty products maker Coty Inc. (NYSE: COTY) has seen its stock price decline by about 6.7% in the past 12 months. Analysts have been lowering expectations, and hedge funds have been increasing their stakes in the company, with one (Horizon) doubling its stake. Since posting a 52-week low in late May, the stock has added about 22.4% to its share price.

Of 14 analysts covering the stock, seven have Hold ratings and the rest rate the shares at Buy or Strong Buy. At a share price of around $7.30, the implied gain based on a median price target of $10.00 is 37%. At the high price target of $15.00, the upside potential is 147%.

For Coty’s fourth quarter of fiscal 2022, analysts expect the company to report revenue of $1.15 billion, down 3.2% sequentially but 8.5% higher year over year. Coty is expected to post a loss per share of $0.01, compared to EPS of $0.03 in the prior quarter and a loss of $0.09 in the year-ago quarter. For the full year, analysts currently estimate EPS of $0.28, up 40.6%, on sales of $5.28 billion, up 14.1%.

Shares trade at 20.2 times expected 2022 EPS, 17.1 times estimated 2023 earnings of $0.43 and 13.6 times estimated 2024 earnings of $0.54 per share. The stock’s 52-week range is $5.90 to $11.12, and Coty does not pay a dividend. Total shareholder return for the past year is negative 6.7%.
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Dollar Tree

Off-price retailer Dollar Tree Inc. (NASDAQ: DLTR) has added around 63% to its share price over the past 12 months. The stock still trades within 5% or so of the 52-week high set in mid-April, as investors continue to see a recession ahead and consumers turning even more to low-priced goods. Rival Dollar General has managed only a bump of around 7% to its share price over the past year and could be a better opportunity. A comparison should be easy because Dollar General also is scheduled to report quarterly results Thursday morning.
Analysts are cautious. Of 26 brokerages covering Dollar Tree stock, 11 rate the shares at Hold and 13 have Buy or Strong Buy rating. At a share price of around $167.40, the upside potential based on a median price target of $185.00 is 10.5%. At the high price target of $210.00, the upside potential is 25.4%.
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Second-quarter 2023 revenue is forecast at $6.8 billion, down 1.5% sequentially but up 7.3% year over year. Adjusted EPS are forecast at $1.62, down 31.8% sequentially and 31.7% higher year over year. For the full fiscal year, analysts expect Dollar Tree to post EPS of $8.18, up 41.1%, on sales of $28.11 billion, up 6.9%.

Dollar Tree stock trades at 20.5 times expected 2023 EPS, 14.9 times estimated 2024 earnings of $9.34 and 16.0 times estimated 2025 earnings of $10.47 per share. The stock’s 52-week range is $84.26 to $177.19. The company does not pay a dividend, and the total shareholder return for the past year is 63.1%.
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Peloton

Shares of fitness product maker Peloton Interactive Inc. (NASDAQ: PTON) have declined by nearly 90% over the past 12 months. Last week, the company said it would fire another 800 employees, raise prices and reduce its store count in North America. Peloton will begin outsourcing delivery and ship its exercise bicycles unassembled, leaving the customer to set up the machine. The announced changes have had a slightly negative effect on the stock price.

Analysts remain moderately bullish on the company. Of 32 brokerages covering the shares, 16 have a Buy or Strong Buy rating while another 14 rate the stock at Hold. At a share price of around $11.60, the upside potential based on a median price target of $20.00 is 72.4%. At the high target of $35.00, the upside potential is more than 200%.
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For the company’s fourth quarter of fiscal 2022, which ended in June, analysts expect revenue to total $682.93 million, down 29.8% sequentially and by 27.1% year over year. Analysts also expect a loss per share of $0.44, better than the $0.98 loss per share in the prior quarter and worse than the $0.56 per-share loss in the year-ago quarter. For the full fiscal year, analysts estimate a loss per share of $4.18, compared to a loss of $0.05 per share last year, on revenue of $3.59 billion, down about 10.8%.

Peloton is not expected to post a profit in 2022, 2023 or 2024. Based on the current share price, the stock’s estimated 2022 and 2023 enterprise value to sales multiple is 1.3 times. That multiple drops to 1.1 in 2024. The stock’s 52-week range is $8.22 to $120.62, and Peloton does not pay a dividend. Total shareholder return over the past year is negative 89.3%.

The post Earnings Previews: Abercrombie & Fitch, Coty, Dollar Tree, Peloton appeared first on 24/7 Wall St..

The futures were lower on Tuesday, as traders and investors returned from the holiday weekend. Friday finished off the best week in over two months, as all the major indexes, including the Russell 2000, closed up big. The Dow Jones industrials snapped an eight-week losing streak, the longest since 1932, while the S&P 500 and the Nasdaq ended skids that had lasted seven weeks.

The big question on many minds across Wall Street is where we go from here, after such a strong week. Last week’s rally was ignited in part when one of the Federal Reserve’s favorite inflation indicators, the core personal consumption expenditures price index, rose only 4.9%. That was in line with estimates and was a drop from the March print. The sense that inflation could be slowing could help keep the wind behind the market’s back, but the risk-off crowd looks to be back.

Surprisingly on such a risk-off day and week, yields across the Treasury curve were either flat or modestly lower on Friday. Unfortunately for consumers and motorists getting ready for summer vacation driving trips, both Brent and West Texas Intermediate crude closed higher Friday. Gold was slightly higher, while Bitcoin closed down almost 3%.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen on Tuesday, May 31, 2022.

Abercrombie & Fitch Co. (NYSE: ANF): Zacks selected this apparel retailer as its Bear of the Day, citing the price downtrend ever since the climax top in June of last year. The stock has traded as high as $48.97 a share in the past year but closed most recently at $22.55, which is down more than 35% year to date.

American Eagle Outfitters Inc. (NYSE: AEO): J.P. Morgan downgraded the shares to Neutral from Overweight and lowered the $20 price target to $15. The consensus target is $24.91 for now. The stock closed down over 6% on Friday at $13.10.

Autodesk Inc. (NASDAQ: ADSK): Goldman Sachs reiterated a Sell rating and lowered the $210 target price to $185 after earnings and better than expected guidance. The consensus target is up at $264.78. The stock closed over 10% higher on Friday at $210.38.
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Bausch + Lomb Corp. (NYSE: BLCO): Wells Fargo started coverage with an Overweight rating and a $23 target price, while Guggenheim initiated coverage at Buy with a $24 price objective. The consensus target is $35.00. The stock had a recent initial public offering and closed Friday at $17.69 a share.
Boot Barn Holdings Inc. (NASDAQ: BOOT): Baird raised its Neutral rating to Outperform and has a $115 target price. The consensus target is $132.67. Friday’s closing share price of $81.80 was up almost 5% on the day.

Boston Scientific Inc. (NYSE: BSX): Needham raised shares of the medical devices leader from Hold to Buy with a $48 price target. The consensus target is $50.38. The last trade on Friday hit the tape at $41.23.

Costco Wholesale Corp. (NASDAQ: COST): Goldman Sachs maintained a Buy rating and has a $526 target price. The consensus target is $578.13. The last trade Friday was filled at $470.76.

CVS Health Corp. (NYSE: CVS): Bernstein downgraded the pharmacy giant to Market Perform from Outperform and dropped the $122 target price to $112. The consensus target is $117.63. Friday’s close was at $98.07.

Dell Technologies Inc. (NYSE: DELL): Goldman Sachs lowered its $61 price target on the Neutral-rated legacy tech giant to $53. The consensus target is $60.78. The stock closed on Friday at $49.62, up almost 13% after the company posted a record quarter.

Dish Network Corp. (NASDAQ: DISH): Truist Financial raised its Hold rating to Buy from and lifted the $25 target price to $60. The consensus target is $39.60. The stock closed on Friday at $22.30. The shares were trading almost 5% higher in Tuesday’s premarket.

Gap Inc. (NYSE: GPS): J.P. Morgan downgraded the stock to Underweight from Neutral and sliced the $11 target price to $9. The consensus target is $15.09 for now. The final trade on Friday came in at $11.60, up over 4% for the day.

Graphic Packaging Holding Co. (NYSE: GPK): BMO Capital Markets upgraded the stock to Outperform from Market Perform and hiked the $20 price target to $25. The consensus target is $24.52. The $22.46 close on Friday was up almost 5% for the day.

HCA Healthcare Inc. (NYSE: HCA): Bernstein’s upgrade to Outperform from Market Perform came with a target price trim to $271 from $273. The $257.21 consensus also compares with Friday’s closing print of $215.53.
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iQIYI Inc. (NASDAQ: IQ): Citigroup upgraded the shares from Neutral to Buy and lifted the $4.50 price target to $6.50. The consensus target is up at $7.13. The stock closed at $3.98 on Friday.

Live Nation Entertainment Inc. (NYSE: LYV): Goldman Sachs reiterated a Buy rating with a $130 target after a positive investor meeting with the company. The consensus target is $127.62. Friday’s final trade was reported at $95.46.

Lufax Ltd. (NYSE: LU): CLSA downgraded the shares to Outperform from Buy and dropped the $8 target price to $6.80. The consensus target is $8.68. The last trade on Friday was reported at $6.26.

Macy’s Inc. (NYSE: M): Morgan Stanley raised shares of the venerable retail company to Equal Weight from Underweight and bumped the price target to $22 from $20. The consensus target is $28.00. The shares closed at $23.40 on Friday.
Medtronic PLC (NYSE: MDT): Needham’s downgrade was to Hold from Buy. Over the past 52 weeks, the shares have traded between $96.86 and $135.89, and they have a $121.05 consensus target. The close on Friday was at $99.23.

Occidental Petroleum Corp. (NYSE: OXY): The Zacks Bull of the Day stock has been a substantial beneficiary from the energy surge over the past year, says the analyst. Shares last closed at $70.86, and the consensus target price of $73.04 would be a multiyear high.

O-I Glass Inc. (NYSE: OI): BofA Securities upgraded the stock to Buy from Neutral and raised the $15 price objective to $19. The consensus target is $15.58. The stock closed almost 9% higher on Friday at $16.98.

PubMatic Inc. (NASDAQ: PUBM): Jefferies downgraded the shares to Hold from Buy and lowered the $28 price target to $23. The consensus target is $29.94. The stock ended Friday trading at $20.88, up almost 4% for the day. The shares were lower in Tuesday’s premarket.

UnitedHealth Group Inc. (NYSE: UNH): Bernstein downgraded the health care giant to Market Perform from Outperform and has a $561 target. The consensus target is $566.95. The shares ended Friday at $507.02 apiece.

Urban Outfitters Inc. (NASDAQ: URBN): Morgan Stanley downgraded the popular retailer to Equal Weight from Overweight and lowered the $34 target price to $25. The consensus target is $27.69. The shares closed 4% higher on Friday at $21.68.

Workday Inc. (NASDAQ: WDAY): Goldman Sachs cut the price target on the Buy-rated company to $260 from $300. The $285.25 consensus target also compares with Friday’s close of $158.79, which was down almost 6% on the day.

Zscaler Inc. (NASDAQ: ZS): Goldman Sachs maintained a Neutral rating but slashed the $281 target price to $170. The consensus target is $290.08 The last trade for Friday came in at $160.00, up over 12% after posting earnings and revenue that beat Wall Street expectations.
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Seven Goldman Sachs Conviction List dividend stock picks make sense now for worried investors because they provide solid total return and should be able to hold their own in a recession.
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Friday’s top analyst upgrades and downgrades included Citigroup, Dick’s Sporting Goods, Dow, Huntington Bancshares, Kraft Heinz, Nutanix, Nvidia, Patterson-UTI Energy, Roku, Snowflake, Splunk, Sysco, Union Pacific and Zscaler.

The post Tuesday’s Top Analyst Upgrades and Downgrades: Boston Scientific, Costco, CVS, Dell, Dish Network, Macy’s, Medtronic, Occidental Petroleum, UnitedHealth and More appeared first on 24/7 Wall St..

All three major U.S. equity indexes posted dips of less than 1% Thursday, likely due to general ennui over an equities market that cannot seem to get any traction on a slippery slope. Walmart, Target and Cisco were among the day’s leading losers.

After markets closed Thursday, Applied Materials reported top-line and bottom-line numbers that missed expectations thanks to coronavirus lockdowns in China. Without getting specific, the company said that next year will be better than this year. Shares traded down about 2% in mid-morning trading Friday.

Palo Alto Networks beat estimates on both the top and bottom lines, and the company raised earnings per share (EPS) and revenue guidance. The stock traded up nearly 10% early Friday.

Ross Stores missed estimates on both the top and bottom lines. The stock was hammered Friday morning, down more than 22%.
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Deere beat the consensus EPS estimate by 1.8% and missed on revenue. Net income guidance was raised, mostly due to a one-time gain of $220 million in the current quarter. Shares traded down more than 10%.

Foot Locker also beat the consensus EPS estimate and missed on revenue. The company reaffirmed fiscal year guidance and said it expects same-store sales to be down 8% to 10%. Shares traded up 5.2% in mid-morning action Friday.

We already have previewed three companies set to report quarterly results late Monday or early Tuesday: Frontline, Xpeng and Zoom Video.

Here is a look at four more firms set to report earnings on before U.S. markets open Tuesday morning.
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Abercrombie & Fitch

Specialty retailer Abercrombie & Fitch Co. (NYSE: ANF) has shed about 30% of its share price over the past 12 months. Analysts have set expectations for the April quarter about as low as they possibly could while maintaining a slightly smiling face. The teen fashion retailer missed estimates for both earnings and revenue in the previous quarter, and those estimates were not especially difficult targets. Has the company worked through its inventory headaches? What impact does it foresee from inflation? We shall find out Tuesday morning.
Analysts remain bullish on Abercrombie stock, likely because they have set expectations so low. Five of 10 brokerages have a Buy rating and four more have a Hold rating. At the recent price of around $29.10 a share, the upside potential based on a median price target of $40.00 is 37.5%. At the high price target of $59.00, the upside potential is 102.7%.

Consensus estimates call for Abercrombie to post revenue of $799.33 million in the first quarter of fiscal 2023. That would be down more than 31% sequentially but up 2.3% year over year. Adjusted EPS are tabbed at $0.09, down 92.5% sequentially and 86.6% lower year over year. For the full fiscal year just ended, analysts expect EPS of $3.41, down 21.7%, on revenue of $3.84 billion, up 3.5% compared to fiscal 2022.

The stock trades at around 8.5 times expected 2023 EPS, 7.1 times estimated 2024 earnings of $4.07 and 6.1 times estimated 2025 earnings of $4.75 per share. The stock’s 52-week trading range is $26.47 to $48.97, and the company does not pay a dividend. Total shareholder return for the past year was negative 28.3%.

Best Buy

Over the past 12 months, shares of technology retailer Best Buy Co. Inc. (NYSE: BBY) have plunged 35.5%. Since shares traded at a 52-week high in late November, the stock has fallen by 46%. It hit its 52-week low on Thursday, following disappointing quarterly reports from mega-retailers Walmart and Target. Store traffic reportedly is down, and the overall macroeconomic picture is not kind to retailers, which have to figure out a way to beat rising costs due to inflation and higher interest rates that make it more costly for consumers to buy big-ticket items.

Analysts have mixed sentiments on the stock. Of 27 brokerages covering it, 14 rate the shares at Hold and 11 have a Buy or Strong Buy rating. At a share price of around $73.30, the upside potential based on a median price target of $120.00 is 63.7%. Based on a high price target of $150.00, the upside potential is almost 105%.

For the company’s fiscal 2023 first-quarter revenue, analysts are forecasting $10.46 billion, down 36.1% sequentially and 10.1% lower year over year. Adjusted EPS are forecast at $1.59, down 41.9% sequentially and 28.7% year over year. For the full fiscal year ending in January, current estimates call for EPS of $8.94, down 10.7%, on sales of $50.15 billion, down 3.1%.

The stock trades at 8.2 times expected 2023 EPS, 7.0 times estimated 2024 earnings of $10.40 and 5.9 times estimated 2025 earnings of $12.52 per share. The stock’s 52-week range is $72.36 to $141.97. Best Buy pays an annual dividend of $2.98 (yield of 4.8%). Total shareholder return for the past year is negative 33.7%.
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NetEase

China-based NetEase Inc. (NASDAQ: NTES) operates online gaming, communications and commerce services in China and elsewhere. It also owns another U.S.-traded online services company, Youdao. Over the past 12 months, the stock has dropped by 11.2%, and its 52-week high, set one year ago, is about to roll off.
Recent pronouncements by Chinese officials appear to have reduced investors’ fear that NetEase will have to delist its shares from U.S. exchanges. NetEase trades American depositary receipts (ADRs) in the United States. One ADR is equal to five ordinary shares traded in Hong Kong.

All 27 brokerage houses covering the stock have a Buy or Strong Buy rating. At a share price of around $95.35, the stock’s implied gain based on a median price target of $123.83 is 29.9%. At the high price target of $144.61, the upside potential is around almost 52%.

Analysts are forecasting first-quarter revenue of $3.47 billion, down 9.6% sequentially but 10.9% higher year over year. The estimate for adjusted EPS of $1.04 is down by more than 33% sequentially and by about 8.8% year over year. For full 2022, analysts are looking for EPS of $4.52, up 390%, on a year-over-year sales increase of 7.6% to $14.83 billion.

The ADRs trade at 21.8 times expected 2022 EPS, 18.8 times estimated 2023 earnings of $5.25 and 17.2 times estimated 2024 earnings of $5.74 per ADR. NetEase’s 52-week range is $68.62 to $120.84, and it pays an annual dividend of $1.17 (yield of 1.183%). Total shareholder return for the past year was negative 15.9%.
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Petco

Shares of pet food and supply retailer Petco Health and Wellness Co. Inc. (NASDAQ: WOOF) have dropped almost 41% over the past 12 months. Since reaching a 52-week peak in mid-June, the stock is down almost 46%. Free cash flow was negative $5 million in the prior quarter, the first time in five consecutive periods that Petco has burned cash. That is not a big deal, but it could indicate falling margins, and that could be a bigger deal.

Analysts are bullish on the stock. Of 13 brokerages covering it, eight have a Buy or Strong Buy rating and four rate shares ta Hold. At a share price of around $15.60, the upside potential based on a median price target of $25.00 is about 60%. At the high price target of $31.00, the upside potential is nearly 99%.
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For the company’s first quarter of fiscal 2023, analysts expect revenue of $1.45 billion, down 4% sequentially and up 2.8% year over year. Adjusted EPS are forecast at $0.15, down 45.9% sequentially and 11.8% lower year over year. For the full fiscal year ending in January, EPS are forecast at $0.99, up 8.5%, on sales of $6.2 billion, up 6.8%.

Petco stock trades at 15.8 times expected 2023 EPS, 14.3 times estimated 2024 earnings of $1.09 and 13.4 times estimated 2025 earnings of $1.17 per share. The stock’s 52-week range is $15.00 to $28.73. Petco pays no dividend. Total shareholder return for the past year was negative 38.4%.

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While the Russian invasion of Ukraine continues and negotiations between the two countries have begun, U.S. companies will continue to report quarterly results this week. Events in Europe that are arguably far more important than company earnings may have a shorter, if sharper, impact on investors than do financial results and company outlooks for the future.

Several firms in the electric vehicle industry have reported or will report results Monday: Blink, Canoo, Lucid, Luminar and Velodyne Lidar. A major retailer, a leading PC maker and a struggling internet video conferencing firm are also on deck to report results after markets close Monday: HP, Sea Limited, Target and Zoom.

We also have previewed five earnings reports due out after markets close Tuesday: AMC, Nio, Nordstrom, Salesforce and SoFi.

Here is a look at three companies scheduled to report quarterly results before markets open on Wednesday.
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Abercrombie & Fitch

Specialty retailer Abercrombie & Fitch Co. (NYSE: ANF) has added about 40% to its share price over the past 12 months. At around $38 in Monday trading, the share price is about 60% below its all-time high of more than $84 almost 15 years ago, but well above a two-year low of around $8. The company claims to be far more customer-focused and has had significant success getting its message out to its target market through TikTok. What A&F has given up is a lot of the unique features that most buyers recall from the past couple of decades.

Analysts are waiting to see if A&F’s putative comeback is the real deal. Five of 10 brokerages have given the stock a Buy rating and four more have a Hold rating. At the recent price of around $38.20 a share, the upside potential based on a median price target of $45.00 is 17.8%. At the high price target of $59.00, the upside potential is 54.4%.

Consensus estimates call for A&F to post revenue of $1.18 in the fourth fiscal quarter that ended in January. That would be up nearly 31% sequentially and 5.4% year over year. Adjusted earnings per share (EPS) are tabbed at $1.27, up 48% sequentially but down 15.3% year over year. For the full 2022 fiscal year just ended, analysts expect EPS of $4.50, miles above the posted loss per share last year of $0.73. Revenue for the year is forecast at $3.73, up 19.4% compared to the 2021 fiscal year.

A&F stock trades at around 8.5 times expected 2022 EPS, 9.7 times estimated 2023 earnings of $3.98 and 9.4 times estimated 2024 earnings of $4.10 per share. The stock’s 52-week range is $26.09 to $48.97, and the company does not pay a dividend. Total shareholder return for the past year was nearly 41%.
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Off-price retailer, Dollar Tree Inc. (NASDAQ: DLTR) has added around 45% to its share price over the past 12 months. Since bottoming out in late September, the stock is up about 69%. Rival Dollar General is up about 6.1% for the same 12-month period and down more than 6% since late September. Lifting its starting price from $1.00 to $1.25 may have lit a fire under investors, but shoppers have not responded with the same enthusiasm.

Analysts remain cautious. Of 27 brokerages covering the stock, 15 rate the stock at Hold and 11 have a Buy or Strong Buy rating. At a share price of around $142.90, the upside potential based on a median price target of $155 is 8.5%. At the high price target of $181.00, the upside potential is 26.7%.

Fourth-quarter 2022 revenue is forecast at $7.12 billion, up 10.9% sequentially and 5.2% higher year over year. Adjusted EPS are forecast at $1.77, up 84.5% sequentially and down nearly 17% year over year. For full fiscal 2022, analysts expect Dollar Tree to post EPS of $5.57, down 1.4%, on sales of $26.35 billion, up 3.3%.

Dollar Tree stock trades at 25.8 times expected 2022 EPS, 18.9 times estimated 2023 earnings of $7.62 and16.4 times estimated 2024 earnings of $8.77 per share. The stock’s 52-week range is $84.26 to $149.37. The company does not pay a dividend. Total shareholder return for the past year is 46.1%.

Lithium Americas

Lithium miner Lithium Americas Corp. (NYSE: LAC) has posted a share price gain of more than 56% over the past 12 months. The share price peaked in late November after the Canada-based firm received initial state approval to begin mining operations at its Thacker Pass site in northeastern Nevada. The state recently issued the last required permit, but federal approval is likely to be delayed until September. The company also has been studying a spinoff of its U.S. operations and maintaining its Argentinian mines.

Analysts are bullish on lithium in general and Lithium Americas in particular. Of 14 brokerages covering the stock, 12 have rated the shares a Buy or Strong Buy and the other two have a Hold rating. At a share price of around $29.30, the upside potential based on a median price target of $40.13 is 37%. At the high price target of $45.39, the upside potential is 54.9%.

Revenue estimates for the fourth quarter are not available, but analysts do expect the company to report a loss per share of $0.09, half as large as the prior quarter loss and less than the year-ago loss of $0.13 per share. For full fiscal 2021, the company is expected to post a loss of $0.50, larger than last year’s loss of $0.37 per share.

Lithium Americas is expected to post revenue of $106.38 million in fiscal 2022 and $312.23 million in fiscal 2023. The enterprise value to sales multiple for 2022 is estimated at 33.6 and for 2023 at 11.5. The company’s 52-week range is $11.84 to $41.56, and Lithium Americas does not pay a dividend. Total shareholder return for the past year was 55.7%.
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The futures were mixed on Wednesday as more and more we are starting to see the volume slow down across Wall Street, a sure sign that summer is almost here. The major indexes closed mostly higher Tuesday, with only the Dow Jones industrials showing no gains. The Nasdaq and Russell 2000 were the biggest winners on the day. All eyes on Wall Street are focused on Thursday’s release of the May Consumer Price Index reading. A big number could certainly spook investors and continue the inflation narrative.

Despite the resurfacing concerns across Wall Street for tapering of the quantitative easing program and a clear building of inflationary pressures, the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets, even after sell-offs. Also note that money markets continue to see massive inflows, which is another big plus.

With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength while repositioning portfolios for the coming quarter and the rest of 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen on Wednesday, June 9, 2021.

Abercrombie & Fitch Inc. (NYSE: ANF): Jefferies raised shares of the popular clothing retailer to Buy from Hold and hiked the price target to $57. The Wall Street consensus target is $50.11. The stock closed Tuesday at $41.15 per share.

Camtek Ltd. (NASDAQ: CAMT): Barclays started coverage of the stock with an Overweight rating and a $43 price target. The consensus price objective is $41.25. The stock closed Tuesday at $38.93, which was up over 5% on the day.
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Carriage Services Inc. (NYSE: CSV): B. Riley Securities initiated coverage with a Buy rating and a $50 price target. The consensus price objective is slightly lower at $49.33, and the final print for Tuesday came in at $38.72.

Celanese Corp. (NYSE: CE): Goldman Sachs downgraded the stock to Neutral from Buy and has a $184 price target. The consensus price objective is $173.76. Tuesday’s last trade hit the tape at $164.99.

Chemours Co. (NYSE: CC): Goldman Sachs upgraded the stock to Buy from Neutral and also raised the price target to $47. That compares with a $35.90 consensus and Tuesday’s closing print of $36.82.

Coinbase Global Inc. (NASDAQ: COIN): Raymond James started coverage of the cryptocurrency trading platform with an Underperform rating. The shares have traded in a wide range of $208 to $429.54 since going public earlier this year in a direct listing offering. The consensus price target is $395.64, and the stock pulled back almost 5% on Tuesday to close at $220.66.

Colgate-Palmolive Co. (NYSE: CL): Credit Suisse upgraded the consumer staples giant to Outperform from Neutral and raised the price target to $95. The consensus target is just $85.49. The stock closed on Tuesday at $82.93.

Credicorp Ltd. (NYSE: BAP): Morgan Stanley downgraded the stock from Overweight to Equal Weight with a $125 price target. The consensus target is $161.49, and the shares ended Tuesday at $134.04.
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Dada Nexus Ltd. (NASDAQ: DADA): JPMorgan started coverage with an Overweight rating and a $40 price target. The consensus target is up at $42.82, and the stock closed on Tuesday at $29.33 a share.

Dish Network Corp. (NASDAQ: DISH): JPMorgan downgraded the stock to Underweight from Neutral and has a $45 price target. The consensus target for shares of the satellite programming company is $49.29. The stock closed at $43.58 on Tuesday.

Fisker Inc. (NYSE: FSR): RBC Capital Markets started coverage of the electric vehicle company with an Outperform rating and a $27 price target. The consensus target is $23.22, and the last trade Tuesday came in at $18.07 per share.

Fox Corp. (NASDAQ: FOXA): Wells Fargo raised the broadcasting giant’s stock to Overweight from Equal Weight, and it lifted the price target to $47. The consensus price objective is $41.18. Tuesday’s closing trade was at $36.59 a share.
Goldman Sachs Group Inc. (NYSE: GS): Jefferies started the venerable Wall Street firm with a Buy rating and a $450 price target. The consensus price objective is just $394.06, and Tuesday’s last trade was seen at $384.70.

KLA Corp. (NASDAQ: KLAC): Deutsche Bank upgraded shares of the semiconductor capital equipment giant to Buy from Hold and has a $375 price target. The consensus target is $367.31, and the shares closed on Tuesday at $313.80 apiece.

Nexa Resources S.A. (NYSE: NEXA): Morgan Stanley downgraded the shares to Equal Weight from Overweight and has a $10.20 price target. The consensus price target is higher at $11.76, and the stock ended Tuesday trading at $11.32.

Regional Management Corp. (NYSE: RM): BMO Capital Markets downgraded it to Market Perform from Outperform. The firm’s $43 price target compares with the $43.83 consensus target. The final trade for Tuesday was recorded at $51.44. As it is trading just below a 52-week high after a solid run this year, this looks like a valuation call.

TotalEnergies S.E. (NYSE: TOT): MKM Partners started the French integrated energy giant with a Buy rating and a $70 price target. The lower $56.25 consensus is still above Tuesday’s close at $48.37 a share.

Travelzoo (NASDAQ: TZOO): Zacks selected this as its Bear of the Day stock, saying that the outlook for this online travel website is still dampened by the pandemic. Shares last closed at $15.65, and the consensus price target is $21.00.

Urban Outfitters Inc. (NASDAQ: URBN): Zacks named this as its Bull of the Day. The analyst said that renewed consumer demand is lifting this retailer, and shareholders could reap the rewards. The stock most recently closed at $38.80 and has a consensus price target of $41.60.

Wendy’s Co. (NASDAQ: WEN): Stifel downgraded one of the newest meme stocks from Buy to Hold with a $25 price target. The consensus target is $26.07, but the stock closed Tuesday at $28.87, after exploding by 26% on Tuesday. The shares were up an additional 3% in premarket action.
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The good news for aggressive growth investors eyeing the semiconductor industry is the sideways trading since February could be ready to break out to the upside. Buying four solid Jefferies stock picks could very well be a great short-term and long-term strategy for those investors.

Check out Warren Buffett’s favorite stocks.

Tuesday’s early top analyst upgrades and downgrades included Autodesk, Biogen, Delta Air Lines, Facebook, Johnson Controls and Marvell Technology. Analyst calls seen later in the day were on Cabot Oil, Rocket Companies, Target and more.
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The post Wednesday’s Top Analyst Upgrades and Downgrades: Abercrombie, Coinbase, Colgate, Fisker, Goldman Sachs, Urban Outfitters, Wendy’s and More appeared first on 24/7 Wall St..

With the trading day about halfway over, the markets were trading sideways, although the tech sector was helping prop up the Nasdaq with a slight gain. Energy stocks were relatively higher as oil seems to be inching upward. The S&P 500 and Dow Jones industrial average were practically flat, while the Nasdaq was up about 0.2%.

24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Tuesday that included AutoDesk, Biogen, Delta Air Lines, Facebook, Marvell Technologies and more.

Abercrombie & Fitch Co. (NYSE: ANF): Argus upgraded the stock to a Buy rating from Hold, and the firm has a $47 price target. The shares traded near $41 on Tuesday, in a 52-week trading range of $9.30 to $44.49. The consensus price target is $50.11.

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Cabot Oil & Gas Corp. (NYSE: COG): Johnson Rice downgraded its Hold rating to Sell and cut the price target to $18 from $21. Shares were trading around $17, in the 52-week range of $15.76 to $22.67. The consensus price target is $22.67.

EOG Resources Inc. (NYSE: EOG): Johnson Rice’s downgrade to Hold from Accumulate was accompanied by a price target hike to $105 from $88. The stock traded near $87 on Tuesday, in a 52-week range of $31.22 to $87.99. The consensus price target is $90.74.

Harpoon Therapeutics Inc. (NASDAQ: HARP): Citigroup downgraded it to Neutral from Buy and cut the price target to $16 from $25. On Tuesday, the stock traded around $15. The 52-week trading range is $10.55 to $25.24. The consensus price target is $30.20.

Rocket Companies Inc. (NYSE: RKT): Argus initiated coverage with a Buy rating and a $23 price target. Piper Sandler also started it at Neutral with an $18 price target. The stock traded near $20.93 on Tuesday, in a 52-week range of $16.22 to $43.00. It has a consensus price target of $20.58.

Squarespace Inc. (NYSE: SQSP): Atlantic Securities initiated coverage with an Overweight rating and a $70 price target. The stock was changing hands at around $55 apiece, in a 52-week range of $42.82 to $55.88.

Teledyne Technologies Inc. (NYSE: TDY): Goldman Sachs resumed coverage with a Neutral rating and a $447 price target. Shares were trading around $420, in the 52-week range of $289.19 to $457.79. It has a consensus price target of $499.00.

Target Corp. (NYSE: TGT): UBS upgraded it to Buy from Neutral and lifted the price target to $265 from $210. The stock traded near $235 on Tuesday, in a 52-week range of $114.81 to $235.47. It has a consensus analyst target of $247.24.

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Four top master limited partnerships offer reasonably safe and reliable distributions of 8% or more, plus are they major players in the energy infrastructure arena.

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With the trading day more than halfway over, the markets were pushing higher yet again. This time the Dow Jones industrial average was leading the group, up 0.4%, while the S&P 500 and Nasdaq were only slightly positive.

24/7 Wall St. is reviewing some big analyst calls seen on Thursday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Thursday that included DoorDash, Ford, Fortinet, Planet Fitness, Uber and more.

Abercrombie & Fitch Co. (NYSE: ANF): Telsey Advisory reiterated an Outperform rating and raised the price target to $55 from $48. Shares were trading around $43, in the 52-week range of $9.30 to $43.90. The consensus price target is $42.11.

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American Eagle Outfitters Inc. (NYSE: AEO): Telsey Advisory reiterated a Market Perform rating and raised the price target to $38 from $35. The shares traded near $35 on Thursday, in a 52-week trading range of $9.03 to $38.28. The consensus price target is $38.92.

CarGurus Inc. (NASDAQ: CARG): RBC Capital Markets resumed coverage with a Sector Perform rating and a $30 price target. The stock traded near $28 on Thursday, in a 52-week range of $19.24 to $36.54. It has a consensus price target of $34.33.

Chipotle Mexican Grill Inc. (NYSE: CMG): Stephens upgraded it to an Overweight rating from Equal Weight and raised the price target to $1,700 from $1,600. On Thursday, the stock traded around $1,361.50. The 52-week trading range is $964.50 to $1,579.52. The consensus price target is $1,719.04.

Dick’s Sporting Goods Inc. (NYSE: DKS): Telsey Advisory reiterated an Outperform rating and raised the price target to $113 from $98. The stock traded near $98 on Thursday, in a 52-week range of $33.91 to $101.30. It has a consensus price target of $96.01.

Expedia Group Inc. (NASDAQ: EXPE): RBC Capital Market resumed coverage with a Sector Perform rating and a $175 price target. Shares were trading around $174, in the 52-week range of $75.75 to $187.93.

Nvidia Corp. (NASDAQ: NVDA): Craig Hallum upgraded to a Buy rating from Hold and raised the price target to $750 from $550. The stock was changing hands at roughly $623 on Thursday, in a 52-week range of $335.17 to $648.57. It has a consensus price target of $669.16.

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With the potential for a sizable market correction looming, it might be a good idea for investors to look at stocks on the Dividend Aristocrats list that are in sectors poised to do well for the rest of 2021.

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Here’s a quick look at some earnings reports that were released after markets closed on Tuesday or before Wednesday’s opening bell.

Nordstrom Inc. (NYSE: JWN) missed by three cents the consensus earnings per share (EPS) estimate, ringing in with a loss per share of $0.64. Revenue, however, beat the consensus by about 3.1%, coming in at $2.92 billion. Compared to the first quarter of 2020, revenue was up by 44.2%, but compared to the first quarter of 2019, sales were down by 13%. Digital sales accounted for 46% of the quarter’s total sales.

The retailer’s shares were pummeled in early trading Wednesday, down more than 9% to $33.11, in a 52-week range of $11.72 to $46.45. The consensus price target on the stock is $35.88. Average daily trading volume of around 3.4 million shares had been doubled in the first half-hour of trading Wednesday.

Cloud security provider Zscaler Inc. (NASDAQ: ZS) beat both top-line and bottom-line estimates after markets closed Tuesday. The company reported EPS of $0.15, more than double the expected $0.07 per share. Revenue of $176.4 million beat the consensus estimate by about 7.8%. Zscaler also boosted fiscal year 2021 (ends in July) guidance for EPS to $0.47, above the consensus estimate of $0.40 with revenue totaling $660 million to $664 million for the year, well above the consensus estimate of $636 million.

Shares traded up nearly 13%, at $194.74 in a 52-week range of $69.83 to $230.88. The consensus price target on the shares is $231.04, and average daily trading volume of about 2 million shares has already been nearly doubled.

Beijing-based EV maker Li Auto Inc. (NASDAQ: LI) reported mixed results before Wednesday’s open. The company reported a loss per share of $0.03, compared with the consensus estimate for a loss of two cents per share. Revenue totaled about $546 million, about 3% better than the consensus estimate for sales of $530 million. The report wasn’t bad, but it was nothing special either. Li Auto’s shares have dropped by more than 26% for the year to date, and the semiconductor shortage is going to further put downward pressure on shares.

The stock traded up by nearly 8.5% Wednesday morning, at $21.68 in a 52-week range of $14.31 to $47.70. The consensus price target is $36.58. Average daily trading volume is around 13.5 million shares, and investors had already traded more than half that many in less than an hour.

Specialty retailer Abercrombie & Fitch Co. (NYSE: ANF) handily beat both top-line and bottom-line estimates. EPS of $0.67 topped the consensus for a loss per share of $0.38, and revenue of $781.5 million was more than 13% higher than the estimate of $688.5 million. Digital sales rose by 45% to $403 million, more than making up for a 20% loss in store square footage.

The stock traded up more than 14% Wednesday morning to $43.51, in a 52-week range of $9.30 to $43.52. The consensus price target is $38.89, and the average daily volume is around 1.5 million shares.

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Only around 200 quarterly earnings reports are due out this week. With the Memorial Day holiday coming up (and after more than a year of restricted movement due to the COVID-19 pandemic), the flow of earnings reports will be slowing to a trickle until a couple of weeks after the June quarter closes.
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No notable earnings reports were released Friday afternoon or Monday morning, but we have selected two reports due out Monday afternoon and one expected Tuesday morning that deserve some attention: AutoZone, Lordstown Motors and Zymergen.

This preview looks at two companies reporting quarterly results Tuesday afternoon and two more scheduled to release results Wednesday morning.
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Nordstrom

Department store operator Nordstrom Inc. (NYSE: JWN) will report first-quarter results after markets close Tuesday. Nordstrom managed to cut its 2020 share price loss from about 70% in late October to around 22% by the end of the year. For the year to date, the stock has added about 21%. Revenue tumbled by nearly a third in 2020, and it’s that revenue total that will get the most attention Tuesday afternoon. Macy’s set a high bar for revenue improvement with a year-over-year revenue jump of more than 50%.

Of 26 analysts covering the company, 17 rate the shares a Hold and just four rate the stock a Buy or Strong Buy. The stock already has outrun its consensus price target of $35.88, with a current trading price of around $37.60. At the high price target of $48, upside potential based on the current price is about 28%.

Analysts expect Nordstrom to post a per-share loss of $0.57 on sales of $2.9 billion. For the full 2022 fiscal year, consensus estimates call for earnings per share (EPS) of $1.12 on sales of $13.57 billion.

At the current price, Nordstrom’s stock trades at about 31.4 times expected 2022 EPS and 16.7 times estimated 2023 earnings. The stock’s 52-week trading range is $11.72 to $46.45, and the average daily trading volume is around 3.4 million shares. Nordstrom has suspended its $0.37 per share quarterly dividend.

Zscaler

Cloud security provider Zscaler Inc. (NASDAQ: ZS) also reports fiscal third-quarter results Tuesday. The stock added nearly 330% to its share price last year but has dipped about 12.6% so far in 2021 as tech stocks have sold off. Over the past 12 months, shares are up nearly 128%. The company was among the first to promote the “zero trust” platform that continuously verifies credentials and permissions for network users. Revenue rose 55% year over year in the prior quarter, and expectations for sequential revenue growth for the third quarter hover around 48%.

Analysts have been mostly bullish on the stock, with 14 of 26 firms rating the stock a Buy or Strong Buy. At price of around $175.20, the stock sports upside potential of 34% based on a consensus price target of $234.92. At the high target of $260, upside potential is just over 48%.

Consensus estimates call for quarterly EPS of $0.07 on sales of $163.7 million. For the 2021 fiscal year that ends in July, analysts are looking for EPS of $0.40 on sales of $638.21 million.
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Zscaler’s shares trade at 438 times expected 2021 EPS, 287 times estimated 2022 earnings and 178.8 times estimated 2023 earnings. The stock’s 52-week range is $69.83 to $230.88, and the average daily trading volume is 1.9 million shares. Zscaler does not pay a dividend.
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Abercrombie & Fitch

Specialty retailer Abercrombie & Fitch Co. (NYSE: ANF) reports fiscal first-quarter results before Wednesday’s opening bell. After plunging by more than 50%, it managed to post a share price gain of almost 20% last year. The stock has soared by around 87% so far in 2021. Last week, the shares traded briefly at an eight-year high of nearly $43.

Analysts are, at best, cool to the stock. Nine of 16 brokerages rate the stock a Hold, while just two rate the shares at Strong Buy. The shares currently trade near $37.95, less than a dollar below the consensus price target of $38.89, implying upside potential of just 2.5%. At the high target of $50, upside potential is about 32%.

Consensus estimates call for the retailer to post a per-share loss of $0.38 in the quarter on sales of $687.35 million. For the 2022 fiscal year, current estimates call for EPS of $1.61 on sales of $3.53 billion.

The stock trades at around 23.6 times expected 2022 EPS and 20.4 times estimated 2023 earnings. The stock’s 52-week range is $9.30 to $43.60, and the average daily trading volume is around 1.5 million shares. The company does not pay a dividend.
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Li Auto

Beijing-based Li Auto Inc. (NASDAQ: LI) also is scheduled to post quarterly results before markets open Wednesday. Following the July 2020 IPO, the stock traded up nearly 170% and closed out 2020 up about 75% over the IPO price. So far in 2021, the stock is down nearly 28%. The company’s SUV, the Ideal One, sold 5,539 units in China last month, good enough to rank fourth behind Wuling HongGuang’s Mini EV (29,251 units sold), Tesla’s Model 3 (6,264) and BYD’s Han EV (5,746). The Ideal One sold more units than Tesla’s Model Y (5,407). U.S. automaker GM’s China division owns a 44% stake in Wuling HongGuang.

As with virtually all other EV makers, analysts are heavily bullish on Li Auto’s stock, with 13 of 17 rating the stock a Buy or Strong Buy. At a price of around $20.80, the implied upside to a consensus price target of $36.50 is about 75%. At the high target of $59.98, the implied upside is a whopping 188%.

Li Auto is expected to post a loss of $0.02 per share in the first quarter on sales of $521.25 million. For the full 2021 fiscal year, the per-share loss is forecast to reach $0.08 on sales of $2.94 billion, more than double the company’s total in 2020.

The company is not expected to post a profit this year but, based on estimated EPS of $0.12 in fiscal 2022, the shares currently trade at a multiple of about 173. Li Auto does not pay a dividend. The average daily trading volume is nearly 14 million shares.
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With the trading day about halfway over, the markets turned lower on Wednesday, nearly hitting their lows of last week. The S&P 500 and Dow Jones industrial average were getting the worst of it, each down over 1.3%. The Nasdaq was down closer to 1%.

24/7 Wall St. is looking at some big analyst calls seen on Wednesday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Wednesday that included Ferrari, Ford, Netflix, Nordstrom, Ross Stores, Salesforece.com and more.

Advance Auto Parts Inc. (NYSE: AAP): Credit Suisse resumed coverage with an Outperform rating and a $215 price target. The shares traded near $195 on Wednesday, in a 52-week trading range of $130.07 to $210.18. The consensus price target is $215.56.

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Abercrombie & Fitch Co. (NYSE: ANF): Telsey Advisory reiterated an Outperform rating and raised its price target to $48 from $32. Shares were trading around $39, in the 52-week range of $9.30 to $43.60. The consensus price target is $37.11.

Anthem Inc. (NYSE: ANTM): Wells Fargo initiated coverage with an Overweight rating and a $460 price target. The shares were changing hands at around $392 on Wednesday. The 52-week trading range is $244.10 to $406.00. The consensus price target is $423.33.

AutoZone Inc. (NYSE: AZO): Credit Suisse resumed coverage with an Outperform rating and a $1,437 price target. The stock traded near $1,478 on Wednesday, in a 52-week range of $1,074.45 to $1,542.30. It has a consensus price target of $1,600.88.

Bed Bath & Beyond Inc. (NASDAQ: BBBY): Credit Suisse resumed coverage with a Neutral rating and a $19 price target. On Wednesday, the stock traded around $24. The 52-week trading range is $5.78 to $53.90. Its consensus analyst target is $26.23.

CarMax Inc. (NYSE: KMX): Wedbush downgraded it to a Neutral rating from Outperform and lowered its price target to $130 from $155. The stock traded near $116 on Wednesday, in a 52-week range of $77.79 to $138.66. It has a consensus price target of $143.10.

CVS Health Corp. (NYSE: CVS): Wells Fargo initiated coverage with an Equal Weight rating and an $89 price target. The stock traded near $88 on Wednesday, in a 52-week range of $55.36 to $88.65. It has a consensus price target of $92.80.

Dick’s Sporting Goods Inc. (NYSE: DKS): Credit Suisse resumed coverage with a Neutral rating and a $72 price target. The stock traded near $83 on Wednesday, in a 52-week range of $28.91 to $91.80. It has a consensus price target of $85.32.

Home Depot Inc. (NYSE: HD): Credit Suisse resumed coverage with an Outperform rating and a $319 price target. The stock traded near $309 on Wednesday, in a 52-week range of $234.31 to $345.69. The consensus analyst target is $337.89.

Macy’s Inc. (NYSE: M): Telsey Advisory reiterated a Market Perform rating and raised its price target to $20 from $16. On Wednesday, the stock traded around $18. The 52-week trading range is $4.91 to $22.30. Its consensus analyst target is $15.95.

Target Corp. (NYSE: TGT): Credit Suisse resumed coverage with an Outperform rating and a $211 price target. The stock traded near $215 on Wednesday, in a 52-week range of $114.23 to $218.50. It has a consensus price target of $217.96.

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24/7 Wall St. screened the BofA Securities research universe looking for Buy-rated stocks in the so-called defensive growth sectors, such as consumer staples and big pharmaceuticals, and found five stocks that look like solid ideas for growth investors who also like a dividend kicker.

Furthermore, see why one top analyst has moved to the sidelines on Wells Fargo, and check out which analyst is showing the love for retails stocks.

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With the trading day approaching halfway over, the broad markets were trading marginally positive. The S&P 500 is holding just below its all-time highs, after hitting new highs in the past few trading sessions. The Nasdaq had a slight gain, while the Dow Jones industrial average was more or less flat.

24/7 Wall St. is looking at some big analyst calls that we have seen so far on Wednesday. We have included the most recent analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Wednesday that included AbbVie, Applied Materials, CyberArk, L Brands, Merck, ViacomCBS and more.

Abercrombie & Fitch Co. (NYSE: ANF) was upgraded at UBS to Buy from Neutral. Shares traded near $37 on Wednesday. The 52-week trading range is $8.80 to $37.88. The consensus price target is $31.00.

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Danaher Corp. (NYSE: DHR) was resumed as Outperform with a $249 price target at Robert Baird. The stock traded at roughly $226 on Wednesday, in a 52-week range of $138.07 to $248.86. It has a consensus price target of $268.18.

Flexion Therapeutics Inc. (NASDAQ: FLXN) was resumed at RBC Capital Markets with an Outperform rating and an $18 price target. The stock traded near $9 on Wednesday, in a 52-week range of $7.52 to $14.39. The consensus analyst target is $20.38.

Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) was resumed as Outperform with a $186 price at RBC Capital Markets. The stock traded around $162 on Wednesday. The 52-week trading range is $101.81 to $178.64. Its consensus analyst target is $202.12.

Pfizer Inc. (NYSE: PFE) was resumed at RBC Capital Markets at Sector Perform with a $42 price target. The stock traded near $36 on Wednesday. The 52-week trading range is $29.99 to $43.08. The consensus price target is $40.54.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was resumed at RBC Capital Markets with a Sector Perform rating and an $11 price target. The consensus price target is $12.31. Shares traded around $11 on Wednesday, in the 52-week range of $8.44 to $13.30.

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Two very timely additions to the BofA Securities Growth 10 portfolio and three other stocks that offer some outstanding earnings growth potential could be outstanding additions to the portfolios of growth investors.

See which analyst has named Applied Materials a top pick and which one sees huge benefits for Tesla in the Biden infrastructure plan.

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The post Abercrombie, Pfizer, Teva and More of Wednesday Afternoon Analyst Calls appeared first on 24/7 Wall St..

The futures were mixed on Monday as we get ready to start another trading week that has the potential for more volatility and possibly more big swings. While the Dow Jones industrials, the Russell 2000 and the transports closed at all-time highs Friday as the rotation trade to cyclical stocks and value continued, the S&P 500 also closed higher, with just the Nasdaq closing lower as rising interest rate fears continue to take a toll on technology stocks. The 10-year Treasury bond close at the highest yield in over a year Friday at 1.63%

Top analysts on Wall Street continue pointing to “bubble” metrics, like the massive “meme” retail stock and option trading, huge hedge fund leverage and IPOs that don’t make money as examples, so the current volatility may be here for some time.

Wall Street analysts have been examining earnings results and also looking to see what guidance for the balance of the first quarter and the rest of 2021 looks like. With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength, while repositioning portfolios for the start of the second quarter and the rest of 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen on Monday, March 15, 2021.

Abercrombie & Fitch Co. (NYSE: ANF) was named as the Bull of the Day at Zacks, which said that this retailer is on the rebound after impressive fourth-quarter earnings. Shares most recently closed at $34.20 but have a consensus price target of just $30.22.

American Axle & Manufacturing Holdings Inc. (NYSE: AXK) was downgraded at Citigroup from Buy to Neutral with a $13 price target. The consensus target is $10.50. The stock closed trading on Friday at $12.90, after gaining almost 8% on the day.

Cabot Oil & Gas Corp. (NYSE: COG) was downgraded from Overweight to Neutral with a $20 price target at Piper Sandler. The consensus target is $21.56. The stock closed on Friday at $18.80.

Comstock Resources Inc. (NYSE: CRK) was downgraded to Neutral from Overweight at Piper Sandler, which also lowered the price target to $6. The consensus target is $7.81, while the shares ended trading on Friday at $6.23.
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Cryoport Inc. (NASDAQ: CYRX) was started at UBS with a Buy rating and an $84 price target. The consensus target is $74.43, and the shares ended trading at $57.37 on Friday.

Dollar General Corp. (NYSE: DG) was raised to Overweight from Neutral at Atlantic Equities with a $243 price target. The consensus target for the discount retailing giant is $238.08. Friday’s last trade came in at $191.96.

Domo Inc. (NASDAQ: DOMO) was upgraded to Buy from Neutral at UBS, which raised the price target to $90. The consensus target is lower at $76. The last trade Friday was reported at $62.44, down over 7%.

Frank’s International N.V. (NYSE: FI) was upgraded to Equal Weight from Underweight at Barclays, which also raised the price target to $4.50. That compares with the slightly higher consensus target of $4.90 and Friday’s final print of $4.51, which was down over 7% on the day. The shares were gaining steam in the premarket, up over 10%.

Funko Inc. (NASDAQ: FNKO) was upgraded to Neutral from Underweight at JPMorgan, which raised the price target on the shares to $20. The consensus target is set lower at $15.04, and the stock was last seen Friday at $17.77 up almost 16% after reporting strong results.
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Gaming and Leisure Properties Inc. (NASDAQ: GLPI) was started with an Overweight rating and a $48 price target at Keybanc Capital Markets. The consensus target is in line at $48.02, and the last trade for Friday was reported at $42.96.

Iterum Therapeutics PLC (NASDAQ: ITRM) was raised from Neutral to Buy with a $2.50 price target at H.C. Wainwright. The consensus target is $1.50, and the stock ended Friday at $1.55 a share.

L Brands Inc. (NYSE: LB) saw its target price raised to $65 from $54 at Telsey Advisory Group after the company raised guidance. That is versus the slightly lower $62.48 consensus target and Friday’s last trade of $60.81.

MGM Resorts International (NYSE: MGM) was upgraded to Buy from Hold at Jefferies, and the firm raised the price target on the gaming giant to $50. The much lower $34.07 consensus target is also less than Friday’s close of $38.98 a share.
Molson Coors Beverage Co. (NYSE: TAP) was named as the Zacks Bear of the Day stock. The firm said that this alcoholic beverage giant is still feeling the impacts of COVID-19 and weak demand. Shares last closed at $46.63 and have a consensus price target of $48.36.

NV5 Global Inc. (NASDAQ: NVEE) was started with an Outperform rating and a $115 price target at Baird. The consensus target is slightly higher at $116.92. The stock was last seen Friday trading at $91.09.

Physicians Realty Trust (NYSE: DOC) was raised at Morgan Stanley to Overweight from Equal Weight with a $20 price target. The consensus price objective is $19.75. The closing price on Friday was $18.08 a share.

PubMatic Inc. (NASDAQ: PUBM) was started with a Neutral rating at Cannonball Research. The shares have traded in a 52-week range of $22.42 to $76.96 and have a $61 consensus price target. Friday’s close was at $57.32.

Unity Software Inc. (NYSE: U) was started at Goldman Sachs with a Buy rating and a $126 price target. The consensus target of $140.82 is much higher, and Friday’s closing price was $105.70.

ViacomCBS Inc. (NASDAQ: VIAC) was downgraded to Underperform from Market Perform at BMO Capital Markets, which has a $70 price target for the broadcast and programming leader. The consensus target is down at $51.84. The stock closed Friday at $94.94, after rising over 10% for the day, but shares were down over 3% in Monday’s premarket.

Westlake Chemical Corp. (NYSE: WLK) was downgraded at Deutsche Bank from Buy to Hold with a $102 price target. That compares with an $89.12 consensus target and Friday’s $94.64 closing trade.
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The specter of rising interest rates keeps buffeting the stock market. However, five stocks may see little to no negative impact from rising interest rates and they are rated Buy at BofA Securities.

Four stocks could win big from a Biden infrastructure plan. And check out the surprising similarity between an iPhone and a tractor.

Friday’s early top analyst upgrades and downgrades included AerCap, Barclays, Denny’s, DocuSign, Intercontinental Hotels, Lennar, Luminar Technologies and Quest Diagnostics. Analyst calls seen later in the day were on Nielsen, Nordstrom, PayPal and more.
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With the trading day more than halfway over, the broad markets have pushed higher, seemingly recovering from Tuesday. Although each of the major averages started out in the red, they have all turned positive on the day.

24/7 Wall St. is looking at some big analyst calls that we have seen so far on Wednesday. We have included the most recent analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Wednesday that included American Eagle Outfitters, Harley-Davidson, Macy’s, Snap and more.

Allakos Inc. (NASDAQ: ALLK) was initiated with an Overweight rating and a $218 price target at Cantor Fitzgerald. Shares traded around $125 on Wednesday. The 52-week trading range is $41.61 to $157.98. The consensus price target is $122.00.

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Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Outperform and its price target was raised to $32 from $28 at Telsey Advisory Group. Shares were trading below $28. The stock has changed hands within a 52-week range of $7.42 to $28.00, and it has a consensus price target of $23.90.

Emergent BioSolutions Inc. (NYSE: EBS) was upgraded from Neutral to Buy with a $112 price target at Chardan Capital Markets. The stock was last seen near $97 a share. The 52-week trading range is $46.37 to $137.61, and the consensus price target is $118.50.

Evolus Inc. (NASDAQ: EOLS) was downgraded from Buy to Hold with a $12 price target at Truist Securities. The shares traded around $12. The 52-week range is $2.85 to $14.81, and analysts have a consensus price target of $15.33.

Generation Bio Co. (NASDAQ: GBIO) was initiated with an Outperform rating at William Blair. The stock traded near $38 on Wednesday, in a 52-week range of $17.00 to $55.72. It has a consensus price target of $39.25.

Mattel Inc. (NASDAQ: MAT) was upgraded from Neutral to Buy with a $22.50 price target at Citigroup. The consensus price target is $20.38. Shares traded around $20 on Wednesday, in a 52-week range of $6.53 to $20.54.

Radius Health Inc. (NASDAQ: RDUS) was reiterated as Neutral at H.C. Wainwright, and its price target was raised to $25 from $22. The stock traded under $20 on Wednesday. The 52-week trading range is $10.15 to $23.84. Analysts have a consensus price target of $22.14.

Thomson Reuters Corp. (NYSE: TRI) was upgraded by Canaccord Genuity to Buy from Hold. Also, CIBC upgraded it to a Sector Outperform from Neutral. The consensus price target is $46.09. Shares traded around $88 on Wednesday, in the 52-week range of $52.23 to $89.55.

Western Digital Corp. (NASDAQ: WDC) was reiterated as Positive at Susquehanna, and its price target was raised to $100 from $85. Early Wednesday, the stock traded near $70. The 52-week range is $27.40 to $71.03, and the consensus price target is $65.60.

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Goldman Sachs has raised its long-term oil price forecasts for 2021 and 2022. Three of its top energy stock picks are solid ways to play a continued upswing in oil and an improving 2021 economy, and they offer a degree of safety and income at reasonable entry points.

Tesla stock is tanking. Should investors be worried? And see what has analysts excited about Palo Alto Networks and why they have high hopes for Snap.

Cathie Wood’s Ark Invest buys Taiwan Semiconductor, Twitter and more, but what are the funds selling now?

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After more than just a challenging 2020, many people are looking forward to 2021 being a better year. The election will be over, the COVID-19 vaccine is expected to be widespread, unemployment is supposed to keep improving, and people are expected to resume their life by going back to retail establishments.

Shouldn’t all of this add up to a great time to own the retail sector? That may all depend on what part of retail you are talking about. It’s also possible that all or most of the good news has become priced into certain parts of retail. Perhaps the biggest concern in retail is what will happen to the malls and mall-based retailers.

24/7 Wall St. has been monitoring the recent moves in some of the top mall-based plays. Some have surged, some have been under pressure. It turns out that some are now even back to where they would have been without a recession after massive recoveries from the panic-selling lows seen earlier this year.

Some investors look for growth and some choose value stocks with dividends. This puts valuations into the mix and there may be reason to believe that most of the good news has become priced into the top stocks in these sectors. This is also a time when some concerns around spiking COVID-19 cases, at least some less raid expectations of when the public will get its coronavirus vaccines, and when some states are becoming more aggressive about shutdowns again.

Macy’s Inc. (NYSE: M) is a retailer that remains in need of something new. What that is remains to be seen, and this key holiday season is expected to generate a mere 8-cents per share of earnings with a 22% drop in sales to $6.5 billion. Whether or not Macy’s can see the 18% expected recovery in sales back to $20 billion in 2021 and whether it can achieve the $0.74 in earnings per share remains to be seen. Macy’s has seen its shares recover 150% from the lows of 2020, and at $11.50 investors are valuing the stock almost $4.00 higher than Refinitiv’s $7.81 consensus target price.

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Kohl’s Corp. (NYSE: KSS) may have standalone stores rather than only being attached to malls, and they recovered as the stores reopened for business. Kohl’s is also looking to launch more athleisure brand focused in-house sales. What looks odd is that at $40.00 its shares have nearly tripled off the $10.89 low this year. Kohl’s also has a $32.88 consensus analyst target price. The spike in the number of COVID-19 cases seemed to limit customers from wanting to flock to malls and crowded areas.

Nordstrom, Inc. (NYSE: JWN) is having trouble despite being one of the last exclusive upscale mall-based retailers that is still public. The stock price of $32.50 has also recovered about 200% from its $11.72 low this year and is now significantly higher than its $22.79 consensus analyst target price. Still, the hope for some investors is that it can recapture the $43.37 high in 2021.

Nordstrom is expected to have a 21% drop in fourth quarter holiday-driven sales, and its consensus estimates of -$4.19 EPS and a 32% drop is sales to $10.7 billion make the focus all about 2021. Estimates for next year point to $1.48 EPS and a 26% sales recovery to $13.5 billion. Perhaps its greatest problem now is that the stock has doubled just since early in November.

Simon Property Group, Inc. (NYSE: SPG) has seen 2 fresh downgraded based on different metrics. The independent research firm Argus downgraded SPG to Hold from Buy on December 2, thus removing its target price. At $90.11, it is still trading against a 52-week range of $42.25 to $150.12 and the Refinitiv consensus target price is $88.38. If its business is going to get better, and as a REIT, some focus may have to go back to its dividend that was cut earlier this year.

Simon Property Group saw its Long-Term Issuer Default Ratings at Fitch downgraded to ‘A-‘ from ‘A’ this week, and the rating outlook is Negative. The new view is that SPG’s credit metrics will remain weak from the stress on its department store and apparel retailer tenant roster as well as from the majority debt-funded Taubman transaction.

Fitch’s Negative outlook on SPG reflected continued cash flow pressures due to more store closures, further retail bankruptcies and secular trends shifting tenants toward greater customer accessibility locations such as street-facing stores or open-air centers. And unlike the prior decade, limited pricing power of mall landlords is seen in rent negotiations.

Abercrombie & Fitch Co. (NYSE: ANF) has many mall-based stores and it is closing 7 of its flagship locations. The stores are said to equate to 10% of its square footage and only about 1% of its total revenues. With a $21.86 price, the shares have a consensus analyst target price of $22.36 and a 52-week range of $7.42 to $23.82. Its market cap is just $1.3 billion.

The Gap, Inc. (NYSE: GPS) was last seen trading close to $21.50, but while its analysts have an average target of $24.50 the 52-week range is $5.26 to $26.99. Its stock was clobbered on November 25, and there are still questions about how it will or will not be able to unlock value as it had previously decided to scrap the Old navy spin-off and as the Athleta brand has more appeal in the athleisure trends that are winning.

While NIKE, Inc. (NYSE: NKE) has standalone stores and went on its own for online sales, NIKE sales may face a hurdle as it was named along with Macy’s and Gap as having UPS delivery delays after soaring Cyber Monday demand has led to UPS sticking limits to how many packages it can deliver. NIKE shar3es bottomed at about $60 in 2020 but have since surged to a record price of $140. Analysts have chased up their numbers and the consensus price target is just $145.65, although some analysts have significantly higher targets. That said, the Dow’s apparel and accessories leader is now valued at about 48-times this year’s earnings estimate and about 38-times the coming year’s earnings estimate.

Another sector that has seen a massive recovery is the restaurant sector. Some of the restaurants that rely on in-store patrons have even seen their stocks recover just about all of their losses. That’s another story.

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When Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Tuesday, the lifestyle retailer posted $0.76 in earnings per share (EPS) and $820 million in revenue. Consensus estimates had called for breakeven earnings and revenue of $739.36 million, while the fiscal third quarter of last year reportedly had earnings of $0.23 per share and $863.47 million in revenue.

During the most recent quarter, net sales decreased 5% year over year. At the same time, digital revenue increased by 43% to $382 million, reflecting robust growth in every month of the quarter.

In terms of its segments, Abercrombie & Fitch reported that Hollister net sales decreased 7% year over year to $476.67 million and Abercrombie net sales decreased 2% to $342.99 million.

The company noted that the company ended the quarter with roughly $1.2 billion of liquidity. Cash and cash equivalents totaled $813 million at the end of the quarter, up from $671 million at the end of the previous fiscal year.

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Management said that it is encouraged by quarter-to-date results, including ongoing strong digital demand, with customers responding favorably to new product and messaging. However, this is tempered by uncertainty regarding the potential for increased COVID-related store restrictions and the expectation for elevated shipping, handling and freight costs.

The company did not provide any guidance, citing uncertainty regarding COVID-19. Consensus estimates call for $1.16 in EPS and $1.1 billion in revenue for the fiscal fourth quarter.

Abercrombie & Fitch stock traded down about 2% on Tuesday, at $22.25 in a 52-week range of $7.42 to $23.81. The consensus price target is $16.64.

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When Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Thursday, the lifestyle retailer posted $0.23 in earnings per share (EPS) and $698.3 million in revenue. Consensus estimates had called for a net loss of $0.83 per share and revenue of $658.44 million, while the fiscal second quarter of last year reportedly had earnings of $0.48 per share and $841.1 million in revenue.

During the most recent quarter, net sales decreased 17% year over year, while comparable sales increased 56%.

At the same time, digital revenue increased by 56% to $386 million, expanding the retail chain’s gross profit rate by 140 basis points and leverage operating expense, resulting in robust operating margin improvement.

In terms of its segments, Abercrombie & Fitch reported that Hollister net sales decreased 15% year over year to $429.2 million and Abercrombie net sales decreased 20% to $269.1 million.

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Management noted that the company ended the quarter with roughly $1.1 billion of liquidity, reflecting $187 million of operating cash flow generated in the second quarter. On the books, cash and cash equivalents totaled $767 million at the end of the quarter, versus $671 million at the end of the previous fiscal year.

Looking ahead to the fiscal third quarter, the company expects to see net sales down in the range of 15% to 20%. The company would not provide any additional guidance, citing uncertainty regarding COVID-19. Consensus estimates call for a net loss of $0.02 per share and $800.5 million in revenue for the quarter.

Abercrombie & Fitch stock traded up about 15% on Thursday, at $12.87 in a 52-week range of $7.42 to $18.83. The consensus price target is $12.25.

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Stocks were set to open higher on Wednesday, and the S&P 500 remains within striking distance of its pre-recession, all-time high. Earnings season has now peaked while economic numbers remain weak, and many investors feel as though they may have missed the recovery rally. This will send those investors to look for new ideas for how to be positioned in the second half of 2020 and ahead of the election.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations from Wednesday, August 12, 2020.

Abercrombie & Fitch Co. (NYSE: ANF) was started with a Neutral rating at UBS.

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AMC Entertainment Holdings Inc. (NYSE: AMC) was named as the Zacks Bear of the Day stock. The firm said that the global pandemic has brought movie theater businesses to a complete halt. Shares last closed at $4.56 and have a consensus price target of $3.50.

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Overweight from Neutral at JPMorgan.

AutoNation Inc. (NYSE: AN) was raised to Buy from Neutral with a $69 price target at Guggenheim.

Carnival Corp. (NYSE: CCL) was reiterated as Equal Weight but its target price was cut to $10 from $11 (versus a $15.82 prior close) at Morgan Stanley.

Carvana Co. (NYSE: CVNA) was started as Hold at Stifel.

CDW Corp. (NASDAQ: CDW) was started with a Buy rating and a $140 price target at Citigroup.

Children’s Place Inc. (NASDAQ: PLCE) was started with a Neutral rating at UBS.

Costco Wholesale Corp. (NASDAQ: COST) was reiterated as Outperform and its price target was raised to $355 from $325 at Raymond James.

Coupa Software Inc. (NASDAQ: COUP) was downgraded to In-Line from Outperform at Evercore ISI.

Cree Inc. (NASDAQ: CREE) was started with a Neutral rating at Citigroup.

Deere & Co. (NYSE: DE) was downgraded to Hold from Buy at Deutsche Bank.

Etsy Inc. (NASDAQ: ETSY) was named as the Bull of the Day at Zacks, which said that the firm’s niche e-commerce platform was steadily growing over the past several years, and the coronavirus pandemic only accelerated this. Shares most recently closed at $127.50, with a consensus price target of $153.44.

Fulcrum Therapeutics Inc. (NASDAQ: FULC) was downgraded to Underperform from Neutral at BofA Securities.  Morgan Stanley downgraded it to Equal Weight from Overweight.

Lowe’s Companies Inc. (NYSE: LOW) was reiterated as Buy and its price target was raised to $178 from $135 (versus a $153.87 close) at Truist Securities.

Plexus Corp. (NASDAQ: PLXS) was downgraded to Neutral from Overweight at JPMorgan.

Roku Inc. (NASDAQ: ROKU) was started as Buy with a $185 price target at Deutsche Bank, which noted that its near-50% market share is an impressive and large installed customer base.

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Target Corp. (NYSE: TGT) was reiterated as Overweight and it was added to the Analyst Focus List at JPMorgan, with the call coming ahead of earnings and based on strong expectations when its second-quarter report is released.

Ulta Beauty Inc. (NASDAQ: ULTA) was started as Neutral with a $230 price objective (versus a $216.19 close) at BofA Securities. It had a $264.48 consensus target price.

Urban Outfitters Inc. (NASDAQ: URBN) was started with a Neutral rating at UBS.

Vaxart Inc. (NASDAQ: VXRT) was reiterated as Buy and its target price was raised to $17 from $7 at H.C. Wainwright. Shares closed up 14% at $10.75 on Tuesday, with a $16.33 consensus target price.

BofA Securities has made some changes to its top picks on the US 1 List for late-summer buying opportunities.

Tuesday’s top analyst upgrades and downgrades included Bed Bath & Beyond, Booking, Carvana, Electronic Arts, EOG Resources, Honeywell, Intercontinental Exchange, Livongo Health, Nucor, Seres Therapeutics and Sunrun.

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Stocks sold off on Monday, but futures were pointing to a stronger open on Tuesday morning. Half of the stock market’s losses from late February and March have already been seen. Earnings season is getting off to a start this week, and the bad economic numbers have only just started in the past couple of weeks. Many investors have been caught off guard at first by the instant recession and then by the immediate market recovery. This is a time when many are looking for new ideas about how to be best positioned for the rest of 2020.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to look for new ideas for long-term investors and short-term traders alike. Many upgrades, downgrades, reiterations and initiations take place regardless of the daily market volatility. Some analyst calls cover stocks to buy while others cover stocks to sell or avoid.

Many analysts have lowered their target prices in recent weeks. That is true even in many analyst upgrades are coming with lower price targets. Yet, there are still many traditional analyst upgrades and reiterations, as if things were still close to normal. Remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Consensus analyst target prices are from Refinitiv. These are the top analyst calls tracked for Tuesday, April 14, 2020.

Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Buy and its price target was raised to $13 from $11 at B. Riley FBR.

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American International Group Inc. (NYSE: AIG) was maintained as Hold but its price target was lowered to $36 from $52 (versus a $25.63 prior close) at Deutsche Bank. The consensus price target was $42.00.

Atlassian Corp. PLC (NASDAQ: TEAM) was reiterated as Buy with a $162 price target (versus a $135.30 close) at SunTrust Robinson Humphrey.

Chubb Ltd. (NYSE: CB) was raised to Hold from Sell with a $140 price target (versus a $119.61 prior close) at Deutsche Bank.

Cloudflare Inc. (NYSE: NET) was downgraded to Underweight from Equal Weight with a $22 price target (versus a $23.62 close) at Morgan Stanley.

Credit Suisse Group A.G. (NYSE: CS) was downgraded to Underweight from Equal Weight at Barclays.

Daimler was named as the Zacks Bear of the Day stock. The firm said that the auto industry is about to feel the wrath of coronavirus. OTC shares last closed at $31.95, with a consensus price target of $27.85.

Deere & Co. (NYSE: DE) was downgraded to Neutral from Buy and the price target was cut to $155 from $160 at Citigroup. Deere closed down 4% at $139.80, with a $168.59 consensus target price ahead of the call.

DRDGold Ltd. (NYSE: DRD) was named as the Bull of the Day at Zacks, which said that gold miners are benefiting greatly from gold prices. Shares recently closed at $8.81 and have a consensus price target of $9.25.

Hecla Mining Co. (NYSE: HL) was downgraded to Sell from Hold with a $1.50 price target (versus a $2.32 close) at Canaccord Genuity.

ITT Inc. (NYSE: ITT) was downgraded to Hold from Buy and its price target was slashed to $52 from $84 at Stifel. Oppenheimer maintained its Outperform rating but cut its price target to $62 from $65. Shares closed down 4.3% at $49.00, with a $60.18 consensus price target ahead of the call.

MarineMax Inc. (NYSE: HZO) was reiterated as Buy and its price target was raised to $14 from $12 (versus a $12.07 close) at SunTrust Robinson Humphrey.

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Molina Healthcare Inc. (NYSE: MOH) was raised to Overweight from Equal Weight with a $188 price target (versus a $156.71 close) at Stephens.

National Oilwell Varco Inc. (NYSE: NOV) was raised to Outperform from Market Perform with a $17 price target (versus a $12.03 close) at Cowen.

Netflix Inc. (NASDAQ: NFLX) was reiterated as Outperform and its price target was raised to $447 from $438 at Imperial Capital. Netflix closed up 7% at $396.72 on Monday, with a $370.18 consensus price target.

New Relic Inc. (NYSE: NEWR) was maintained as Buy but the price target was cut to $75 from $85 (versus a $50.68 close) at SunTrust Robinson Humphrey.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) was downgraded to Market Perform from Outperform at Cowen.

Pluristem Therapeutics Inc. (NASDAQ: PSTI) was reiterated as Buy with a $12 price target (versus a $7.91 close, after a 13.5% gain) at Dawson James, which noted that the FDA cleared its compassionate use using PLX cells to treat its first COVID-19 patient in the United States.

Republic Services Inc. (NYSE: RSG) was downgraded to Hold from Buy at Jefferies. Shares closed down 3.6% at $78.89 on Monday, with a $92.27 consensus price target.

Roku Inc. (NASDAQ: ROKU) was reiterated as Neutral with a $86 price target (versus a $96.56 close) at Wedbush Securities, and Oppenheimer reiterated its rating as Outperform and raised its price target to $120 from $110. The stock was indicated up 14% at $110.00, after preannouncing strong revenues and opportunities with more streaming and cord-cutting.

ServiceNow Inc. (NYSE: NOW) was maintained as Buy but the price target was cut to $350 from $380 (versus a $283.56 close) at SunTrust Robinson Humphrey.

Splunk Inc. (NASDAQ: SPLK) was maintained as Buy but the price target was cut to $180 from $190 (versus a $125.88 close) at SunTrust Robinson Humphrey.

Square Inc. (NYSE: SQ) was downgraded to Neutral from Buy at UBS. It closed up 0.3% at $59.42, with a $64.17 consensus price target ahead of the call.

Tesla Inc. (NASDAQ: TSLA) was raised to Neutral from Underperform and its price target was raised to $580 from $415 (versus a $650.95 close) at Credit Suisse.

WisdomTree Investments Inc. (NASDAQ: WETF) was raised to Neutral from Sell but its price target was lowered to $2.75 from $3.50 (versus a $2.63 close) at UBS.

Workday Inc. (NASDAQ: WDAY) was raised to Overweight from Equal Weight with a $170 price target (versus a $141.18 close) at Morgan Stanley.

24/7 Wall St. has identified 15 basic economy dividend stocks that almost all income-oriented investors will want to own after the COVID-19 recession passes.

RBC has five Outperform-rated biotech stocks with 100% implied upside.

Monday’s top analyst upgrades and downgrades included Alibaba, Apple, American Express, Brinker, Caterpillar, Chipotle Mexican Grill, Dell, Halliburton, Palo Alto Networks, Starbucks, Texas Instruments, Travelers and many more.

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Stocks had bounced heavily on Tuesday, with a 1,167-point Dow Jones industrials pop and a 135-point S&P 500 gain, but about half of those gains were being given back in early futures indications on Wednesday. Despite the volatility, the election news and the spreading of the coronavirus, some investors are not positioned how they would like to be for a volatile year.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new trading ideas for investors and traders. Some of the daily analyst calls cover stocks to buy, while some calls cover stocks to sell or to avoid. Analysts have been ticking down many price targets or earnings targets during this volatility, even if they have remained positive. In many cases, there has not been outright panic in the stronger companies. As with all analyst reports, these should be individually verified and only used as one tool in an investment decision process.

We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.

These are the top analyst upgrades, downgrades and initiations from Wednesday, March 11, 2020.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Outperform from Neutral with a $16 target price (versus an $11.49 prior close) at Wedbush Securities. Its 52-week range is $10.01 to $30.63, and its consensus target price was $16.36.

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Accenture Ltd. (NYSE: ACN) was maintained as Buy but its target price was lowered to $200 from $230 at Citigroup.

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Outperform from Neutral with a $14 target price (versus a $10.57 close) at Wedbush. Its 52-week range is $10.47 to $24.30, and its consensus target price was $15.27.

Anheuser-Busch InBev S.A./N.V. (NYSE: BUD) was reiterated as Buy at Argus, with the independent research firm noting that the 37% drop over the past quarter offers a buying opportunity.

Apellis Pharmaceuticals Inc. (NASDAQ: APLS) was raised to Neutral from Underperform with a $29 target price (versus a $30.95 close) at Wedbush.

AutoNation Inc. (NYSE: AN) was raised to Neutral from Underweight but its target price was lowered to $47 from $54 (versus a $40.86 close) at JPMorgan.

BWX Technologies Inc. (NYSE: BWXT) was raised to Buy from Hold at SunTrust Robinson Humphrey.

Cerner Corp. (NASDAQ: CERN) was maintained as Buy but the target price was cut to $84 from $85 at UBS.

CNOOC Ltd. (NYSE: CEO) was downgraded to Neutral from Buy at Citigroup.

Delta Air Lines Inc. (NYSE: DAL) was downgraded to Hold from Buy at Argus, with the firm throwing in the towel based on the lowered business from the coronavirus pressure.

Dick’s Sporting Goods Inc. (NYSE: DKS) was maintained as Neutral but the target price was lowered to $38 from $50 at UBS.

Domo Inc. (NASDAQ: DOMO) fell 4.8% to $14.25 on Tuesday. Credit Suisse and UBS each reiterated it as Neutral.

Ferrari N.V. (NYSE: RACE) was raised to Buy from Hold at HSBC.

Ford Motor Co. (NYSE: F) was maintained as Overweight but its target price was cut to $10 from $11 (versus a $6.26 close) at Morgan Stanley.

GoDaddy Inc. (NYSE: GDDY) was started as Buy with an $88 target price (versus a $62.19 close) at Rosenblatt. It previously had an $87.73 consensus target price, and its 52-week high is $82.30.

Hamilton Beach Brands Holding Co. (NYSE: HBB) was named as the Zacks Bear of the Day stock. The firm said that this stock has been cut in half and also has reported poor earnings. Shares last closed at $11.50, with a consensus price target of $15.00.

Kinder Morgan Inc. (NYSE: KMI) was raised to Buy from Neutral with a $19 price objective (versus a $16.04 close) at Merrill Lynch.

Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) was raised to Buy from Hold at SunTrust Robinson Humphrey.

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Masonite International Corp. (DOOR) was started with an Outperform rating and a $95 target price (versus a $73.35 close) at Wedbush.

Mastercard Inc. (NYSE: MA) was maintained as Buy but the target price was lowered to $345 from $375 (versus a $280.57 close) at Citigroup.

Newmont Corp. (NYSE: NEM) was reiterated as Buy and the target price was raised to $55 from $54 (versus a $48.38 close) at B. Riley FBR.

NuStar Energy L.P. (NYSE: NS) closed up 29.5% at $13.50, after hitting a 52-week low of $10.40 the prior day. Citigroup upgraded it to Buy from Neutral but slashed its target price to $16 from $29.

PetroChina Co. Ltd. (NYSE: PTR) was downgraded to Neutral from Buy at Citigroup.

Progressive Corp. (NYSE: PGR) was downgraded to Neutral from Buy at B. Riley FBR.

Republic Services Inc. (NYSE: RSG) was raised to Buy from Neutral with a $103 price objective (versus a $93.34 close) at Merrill Lynch.

Sanofi (NYSE: SNY) was raised to Buy from Neutral at Goldman Sachs.

Shake Shack Inc. (NYSE: SHAK) was maintained as Neutral but its target price was lowered to $50 from $75 at Wedbush.

Tetra Technologies Inc. (NYSE: TTI) was downgraded to Neutral from Buy at B. Riley FBR.

Texas Roadhouse Inc. (NASDAQ: TXRH) was named as the Bull of the Day at Zacks, which said that there is plenty of meat on this bone and a solid earnings reports has analysts revising estimates upward. Shares most recently closed at $49.59 and have a consensus price target of $67.85.

United Airlines Holdings Inc. (NYSE: UAL) was downgraded to Hold from Buy at Argus, with the firm throwing in the towel based on the lowered business from the coronavirus pressure.

Unum Group (NYSE: UNM) was raised to Neutral from Underperform at Credit Suisse, with the firm noting that its valuation reflects the risks now even if LTC downside remains.

Vail Resorts Inc. (NYSE: MTN) recently withdrew guidance due to fallout from the coronavirus on travel, and its shares previously closed down 2.2% at $177.90. KeyBanc Capital Markets maintained its Overweight rating but lowered its target price to $225 from $260. Wells Fargo maintained its Equal Weight rating but cut its target price from $220 to $190.

Valaris PLC (NYSE: VAL) was downgraded to Sell from Neutral at B. Riley FBR.

Visa Inc. (NYSE: V) was maintained as Buy but the target price was lowered to $225 from $236 (versus a $182.60 close) at Citigroup.

Vivint Smart Home Inc. (NYSE: VVNT) was downgraded to Underweight from Neutral at JPMorgan.

WideOpenWest Inc. (NYSE: WOW) was downgraded to Market Perform from Outperform at Raymond James.

Waste Management Inc. (NYSE: WM) was maintained as Buy but the target price was cut to $131 from $132 at UBS.

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Market volatility is skyrocketing, so it makes sense for investors with capital to put to work to look at safe ideas for now and in the future. We found five Merrill Lynch Buy-rated stocks that fit the bill perfectly.

Tuesday’s top analyst upgrades and downgrades included American Electric Power, Apple, Baker Hughes, Bank of America, Carnival, Cree, Exxon Mobil, JPMorgan, Microsoft, Qualcomm, Under Armour, UPS and many more.

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Stocks managed to squeeze out a small gain on Tuesday after a negative open, but Wednesday’s indications were a tad lower after disappointing earnings and ahead of what may be a disappointing Federal Reserve interest rate decision. Despite volatility, the S&P 500 is still very close to its all-time highs. Investors are having to grapple with a much lower growth economy at the same time the bull market is well over 10 years old. Now investors should be considering what changes to make to 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 Wednesday, September 18, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was started with a Neutral rating and assigned an $18 target price at D.A. Davidson. The stock closed at $16.24 ahead of the call, and it has a $17.67 consensus target price.

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Adobe Inc. (NASDAQ: ADBE) closed up 0.6% at $284.69 ahead of earnings, but the initial reaction to the report took its shares down 2.9% to $276.44, based on its outlook. Stifel maintained its positive outlook on Adobe, and Wedbush Securities maintained its Neutral rating with a $290 target price, noting concerns over the Marketo billings and analytics-cloud billings. JPMorgan maintained its Neutral rating and cut its target to $318 from $329. BMO maintained its Outperform rating and cut its target to $310 from $315, and Citigroup maintained it as Buy while cutting its target to $322 from $335. Nomura/Instinet maintained its Buy rating but lowered its target to $310 from $315. Adobe had a consensus target price of $312.92 ahead of the earnings, and its 52-week trading range is $204.95 to $313.11.

Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with the same $245 price target (versus a $220.70 prior close) at Wedbush, with the analyst noting that China could be the star of the show as the iPhone 11 launch hits.

AT&T Inc. (NYSE: T) was downgraded to Hold from Buy with a $38 target price at DZ Bank. AT&T closed down 0.4% at $37.16 ahead of this call, with a consensus target price of $35.88 and a 52-week trading range of $26.80 to $38.75.

Chewy Inc. (NYSE: CHWY) closed down 0.6% at $30.25 ahead of its first earnings as a public company, and it shares initially traded down 4.7% to $28.78 after the report. Wedbush maintained its Neutral rating with a $30 target, noting that, despite a beat and raise quarter, the rate of revenue growth is slowing while there are many other positives. Chewy had a consensus target price of $36.90 heading into earnings, and its post-IPO trading range was $29.03 to $41.34.

Corning Inc. (NYSE: GLW) was maintained as Overweight at Morgan Stanley, but the firm did lower its target to $34 from $37 after the company’s tempered guidance. UBS reiterated its Neutral rating but lowered its target to $30 from $33. Argus maintained its Buy rating and $42 long-term target price. Shares closed down 6% at $28.23, and the prior consensus target price was $32.02 ahead of the move and analyst reactions.

Crocs Inc. (NASDAQ: CROX) was named as the Bull of the Day at Zacks, which said that the Croc is cool again, propelling a Gen Z fashion statement into a fashionable trend. Shares closed most recently at $28.79, with a consensus price target of $32.00.

Dow Inc. (NYSE: DOW) was maintained as Buy at Nomura/Instinet, but the target price was lowered to $52 from $56 in that call. Dow closed down 2% at $48.00, and its consensus target price was $54.73.

Exelon Corp. (NYSE: EXC) was reiterated with a Buy rating and a $53 target price (versus a $47.29 close) at Argus. Shares closed down 0.2% ahead of the call, and the consensus target price is $52.91.

FedEx Corp. (NYSE: FDX) was already way off its highs, but the 27-cent drop to $173.30 was followed by a post-earnings drop of over 7% to $159.90 in Tuesday’s after-hours reaction to lower guidance. Robert W. Baird maintained its Outperform rating but lowered its target to $175 from $180. Morgan Stanley maintained its Equal Weight rating but cut its target to $120 from $130. JPMorgan maintained its Neutral rating but lowered its target to $318 from $329. Stifel downgraded FedEx to Hold from Buy and lowered its target to $171 from $185. The stock had a consensus target price of $187.19 ahead of the earnings, and its 52-week trading range was $147.82 to $250.95.

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Itron Inc. (NASDAQ: ITRI) was maintained as Outperform and the price target was raised to $80 from $70 (versus a $75.63 close) at Robert W. Baird.

NCR Corp. (NYSE: NCR) was started with a Market Perform rating and assigned a $45 target price (versus a $32.87 close) at Wells Fargo.

Square Inc. (NYSE: SQ) was upgraded to Hold from Sell and the target price was raised to $63 from $55 at Craig-Hallum. It closed up 0.6% at $59.60 and was indicated up 0.8% at $60.10, and its prior consensus target price was $81.53. The 52-week trading range is $49.82 to $101.15.

Stanley Black & Decker Inc. (NYSE: SWK) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Tailored Brands Inc. (NYSE: TLRD) was named as the Zacks Bear of the Day stock. The firm said that this stock has been toxic for some time now and, unless significant systemic changes are made, its toxicity will continue. Shares closed at $4.54 and have a consensus price target of $6.97.

Taylor Morrison Home Corp. (NASDAQ: TMHC) was reiterated as Outperform with a $27 price target (versus a $24.87 close) at Wedbush, with the firm noting that third-quarter orders for new homes are tracking ahead of the firm’s forecasts and broad-based demand.

Tellurian Inc. (NASDAQ: TELL) was started with an Outperform rating and assigned a $14 target price (versus an $8.33 close) at Evercore ISI. It was indicated up 2% at $8.50, and its consensus target price was $11.47 ahead of this call.

TerraForm Power Inc. (NASDAQ: TERP) was downgraded to Neutral from Overweight with a $17 target price (versus a $17.58 close) at JPMorgan. Shares were indicated down 1.8% at $17.25 on Wednesday, and they have a $16.22 consensus target price.

Whirlpool Corp. (NYSE: WHR) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Zimmer Biomet Holdings Inc. (NYSE: ZBH) was raised to Buy from Hold with a $167 target price (versus a $138.84 close) at Canaccord Genuity. It has a consensus target price of $148.40.

Zscaler Inc. (NASDAQ: ZS) was reiterated as Outperform with an $80 target price at Wedbush, with the firm talking up the cloud growth to the next level after a very positive reaction to the company’s user conference. Also, Credit Suisse reiterated its Outperform rating and $70 target price and said that it has a better appreciation of its expanded market opportunity after the conference. Shares closed up 6.3% at $50.64 on Tuesday, but they are still down handily from the high and since it reported earnings.

Zynga Inc. (NASDAQ: ZNGA) was started as Neutral with a $7 target price (versus a $6.04 close) at JPMorgan. It was indicated almost 1% on Wednesday and its consensus target price is $7.36.

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This is FOMC Day, and it has suddenly become far less clear whether Federal Reserve Chair Jerome Powell and his Federal Open Market Committee members will cut interest rates in the Wednesday announcement, and that will mark the second day of repurchase activity to keep federal funds within the target range. Credit Suisse has previewed the Fed’s announcement and said:

While the market’s expectation is for 100 basis points of further easing, the Fed’s Dot Plot does not concur. Adjusting this guidance lower will be an important signal for equity investors. More important than the much anticipated 25 basis point cut, the Fed must convince investors that they are committed to steepening the curve through further accommodation. With both growth and inflation near 2%, a simple reiteration of data dependence would likely disappoint investors.

Record unemployment may generate a very solid holiday season sales surge to boost gross domestic product in the fourth quarter.

Tuesday’s top analyst upgrades and downgrades included Bank of America, CME, ConocoPhillips, CSX, EverQuote, Home Depot, IAC/InterActive, Snap, Splunk, Square, TJX Companies and many more.

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Stocks were indicated to open higher on Friday on continued hopes that the trade war with China will become less hostile. The bull market is well over 10 years old, and the Dow Jones industrials, S&P 500 and Nasdaq still have double-digit percentage gains so far in 2019. Investors should be considering how to position 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 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 Friday, August 30, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was down 15% at $14.45 a share in Thursday’s post-earnings reaction. Deutsche Bank raised it to Hold from Sell.

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Ambarella Inc. (NASDAQ: AMBA) was up 4.9% at $47.37 on Thursday, but Friday’s post-earnings reaction had it up 19% at $56.80. Morgan Stanley reiterated it as Overweight and raised the target price to $60 from $52. Cowen reiterated it as Outperform and raised the target price to $68 from $54.

Best Buy Co. Inc. (NYSE: BBY) was reiterated as Neutral with a $63 target price (versus a $63.49 prior close, after an 8% drop) at Wedbush Securities. Telsey Advisory maintained its Market Perform rating and lowered its target price to $70 from $76.

Deckers Outdoor Corp. (NYSE: DECK) was named as the Bull of the Day at Zacks, which said that the maker of Uggs is firing on all cylinders as it recently raised full-year guidance. Shares of Deckers most recently closed at $146.48, with a consensus price target of $176.08.

Dollar General Corp. (NYSE: DG) was up over 10% at $156.09 after beating earnings on Thursday. Credit Suisse reiterated it as Neutral and raised the price target to $154 from $130. Morgan Stanley reiterated its Overweight rating and raised the target price to $155 from $142, and Barclays reiterated its Overweight rating and raised its target to $180 from $141. Piper Jaffray reiterated its Overweight rating and raised its target to $170 from $137.

Lear Corp. (NYSE: LEA) was named as the Zacks Bear of the Day stock. The firm said that the auto industry is struggling as global production falls. Shares of Lear most recently closed at $109.13, with a consensus price target of $142.44.

Novo Nordisk A/S (NYSE: NVO) was downgraded to Underperform from Hold at Jefferies. It was up 0.6% at $52.63 on Thursday but indicated down 1% at $52.10 on Friday, with a consensus target price of $53.90.

Oasis Petroleum Inc. (NYSE: OAS) was started with an Equal Weight rating and assigned a $3.50 target price (versus a $3.31 close) at Barclays.

Smartsheet Inc. (NYSE: SMAR) was reiterated as Outperform with a $62 target price (versus a $50.27 close) at Wedbush.

Ulta Beauty Inc. (NASDAQ: ULTA) was up 2% at $337.45 on Thursday ahead of earnings, but Friday’s earnings reaction had shares down almost 25% at $253.35 in early trading. UBS maintained its Buy rating but cut the target to $300 from $365, and Piper Jaffray cut it to Neutral from Overweight and lowered its target to $250 from $360. Morgan Stanley downgraded Ulta to Equal Weight from Overweight and cut its target to $275 from $395. Stifel maintained a Hold rating, but the firm cut its target to $250 from $315. Cowen maintained its Outperform rating but cut its target to $313 from $375. Wells Fargo downgraded it to Market Perform from Outperform.

Whiting Petroleum Corp. (NYSE: WLL) was started with an Equal Weight rating and assigned a $3.50 target price (versus a $7.20 close) at Barclays.

Zymeworks Inc. (NYSE: ZYME) was started with a Buy rating and assigned a $45 target price (versus a $26.06 close) at Stifel. The stock has a 52-week range of $10.72 to $27.19 and a consensus target price of $24.88.

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As Treasury yields are at their lowest levels in years, some investors are again being forced to look at equities for income. The Merrill Lynch High Quality & Dividend portfolio stocks are among the best choice for conservative accounts.

Energy stocks have been battered, and energy MLPs even more so. It’s possible yield-starved income investors may start looking at the sector again as Treasury yields are at incredibly low levels.

The top analyst upgrades and downgrades seen on Thursday included Amgen, Bank of America, Box, Chico’s FAS, Microsoft, Netflix, NXP Semiconductors, StoneCo, Tiffany and many more.

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Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Thursday. The firm posted a net loss of $0.48 per share and $841.08 million in revenue. Consensus estimates had called for a net loss of $0.53 per share and $852.47 million in revenue, while the fiscal second quarter of last year reportedly had $0.06 in earnings per share and $842.41 million in revenue.

During the most recent quarter, net sales decreased 0.2% year over year, while comparable sales remained flat compared with positive comparable sales of 3% from last year.

In terms of its segments, Abercrombie & Fitch reported as follows:

• Hollister net sales increased 1% year over year to $504.76 million, an increase of 2% in constant currency.
• Abercrombie net sales decreased 2% to $336.32 million, a decrease of 1% in constant currency.

Looking ahead to the fiscal third quarter, the company expects to see net sales up about 1% and comparable sales to be flat. Consensus estimates are calling for $0.36 in EPS and $882.6 million in revenue for the coming quarter.

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CEO Fran Horowitz commented:

Trends improved throughout the second quarter, enabling us to deliver constant currency revenue growth and meet our previously-issued comp and gross profit rate outlook, while continuing to tightly manage expenses. Importantly, we have had a solid start to back-to-school in the U.S. and we look forward to building on that momentum in the back half through exciting product and cohesive marketing campaigns.

Shares of Abercrombie & Fitch traded down about 10% at $15.36 early Thursday. The 52-week range is $14.66 to $30.63, and the consensus price target is $19.60.

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The latest earnings reporting season is winding down, but a few major companies have yet to share their results. 24/7 Wall St. has put together a preview of the most prominent earnings reports expected this week.

We have included the consensus earnings estimates, as well as the stock price and trading history. Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.

Autodesk Inc. (NASDAQ: ADSK) is scheduled to report its fiscal second-quarter results after the close on Tuesday. The consensus estimates call for $0.61 in earnings per share (EPS) and revenue of $786.98 million. Shares were changing hands at $143.99 on Friday’s close. The consensus price target is $188.73, and the 52-week trading range is $117.72 to $178.95.

Expect Hewlett Packard Enterprise Co. (NYSE: HPE) to release its most recent quarterly results late on Tuesday as well. The consensus forecast calls for $0.40 in EPS and $7.29 billion in revenue for the fiscal third quarter. Shares traded most recently at $12.75. The consensus price target is $16.70, and shares have traded between $12.09 and $17.59 in the past 52 weeks.

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Tiffany & Co. (NYSE: TIF) will report its fiscal second-quarter results early on Wednesday. Analysts are looking for $1.05 in EPS and $1.06 billion in revenue. Shares ended the week at $81.32, but the consensus price target is $106.59. The stock has a 52-week trading range of $73.04 to $138.41.

Abercrombie & Fitch Co.’s (NYSE: ANF) fiscal second-quarter results are expected before the open on Thursday. The consensus forecast is a net loss of $0.52 per share and revenue of $852.32 million. Shares were changing hands at $16.43 as the week ended. The consensus price target is $19.36, and the trading range in the past year is $14.66 to $30.63.

The Best Buy Co. Inc. (NYSE: BBY) fiscal second-quarter report is scheduled for Thursday before the opening bell. The consensus forecast calls for $0.99 in EPS on revenue of $9.56 billion. Shares traded at $62.21 apiece on Friday’s close. The consensus price target is $76.73, and the 52-week trading range is $47.72 to $83.20.

Dollar General Corp.’s (NYSE: DG) fiscal second-quarter report is due before the open on Thursday. The consensus estimates call for $1.57 in EPS and $6.89 billion in revenue. Shares traded at $136.99 most recently. The consensus price target is $141.65, and the 52-week range trading range is $98.08 to $145.06.

Look for Dollar Tree Inc. (NASDAQ: DLTR) to release its most recent quarterly results early on Thursday. The consensus forecast calls for $0.80 in EPS and $5.72 billion in revenue for the fiscal second quarter. Shares ended the week at $95.16. The consensus price target is $111.81, and shares have traded between $78.78 and $113.38 in the past 52 weeks.

Watch for Ambarella Inc. (NASDAQ: AMBA) to release its most recent quarterly results late on Thursday. The consensus forecast calls for $0.02 in EPS and $52.03 million in revenue for the fiscal second quarter. Shares traded most recently at $44.65. The consensus price target is $47.38, and shares have traded between $30.00 and $52.12 in the past 52 weeks.

Costco Wholesale Corp. (NASDAQ: COST) is expected to report its fiscal third-quarter results Thursday afternoon. On average, analysts anticipate $2.53 in EPS and $47.62 billion in revenue. Shares closed at $274.01 on Friday, but the consensus price target is $273.17. The stock has a 52-week trading range of $189.51 to $284.31.

The Dell Technologies Inc. (NYSE: BBY) fiscal second-quarter report is scheduled for Thursday after the closing bell. The consensus forecast is $1.46 in EPS on revenue of $23.29 billion. The stock was changing hands as the week ended at $45.81 a share. The consensus price target is $66.34. The post-IPO trading range is $41.58 to $70.55.

Campbell Soup Co. (NYSE: CPB) will release its most recent quarterly results early on Friday. The consensus forecast calls for $0.41 in EPS and $1.98 billion in revenue for the fiscal fourth quarter. Shares were last seen trading at $42.68. The consensus price target is $39.57, and shares have traded between $32.03 and $43.84 in the past 52 weeks.

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The futures traded higher Friday morning as investors continue to weigh the advantages of a possible rate cut at the end of the month against what remains a very expensive and probably overbought stock market. This is a time when investors should be considering exactly how they want their portfolios and assets positioned for the rest 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 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 Friday, July 19, 2019.

AMC Entertainment Holdings Inc. (NYSE: AMC) was started with an Outperform rating and an $18 price objective at Roth Capital. The Wall Street consensus price objective for the movie theater giant is $16.46. The stock closed trading on Thursday at $9.62.

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American International Group Inc. (NYSE: AIG) was raised to Buy from Neutral at William Blair. The 52-week trading range for the stock is $36.16 to $56.49, and the consensus price target for the insurance giant is $57.88. The shares ended Thursday at $55.60.

Alcoa Inc. (NYSE: AA) was downgraded to Hold from Buy at Argus. The 52-week trading range for the aluminum behemoth is $20.82 to $45.65, and the consensus price target is $30.83. The stock was last seen trading at $23.41.

Chipotle Mexican Grill Inc. (NYSE: CMG) was resumed in coverage with a Sell rating at Northcoast, which has a stunning $400 price target. The consensus target is much higher at $705.85. The stock closed way above that level Thursday at $764.04.

CrowdStrike Holdings Inc. (NASDAQ: CRWD) saw its price target raised to $92 at Needham after the cybersecurity company posted huge first-time earnings results. The analysts noted that demand trends are so strong that management raised guidance for both forward quarter growth to 85% to 87% and the full year to 72% to 73% from 64%. The shares closed Thursday at $72.75, but were up a stunning 20% in the premarket.

CubeSmart (NYSE: CUBE) was downgraded to Neutral from Buy at Merrill Lynch. The stock has traded in a 52-week range of $27.10 to $35.23, and the consensus price target is set at $33. The shares closed above that level on Thursday at $34.44.

Decker’s Outdoor Corp. (NYSE: DECK) saw its price target raised to $172 from $152 at Pivotal Research Group. That compares with a consensus price target of $160.45. The stock ended trading at $176.38 on Thursday.

Dow Inc. (NYSE: DOW) was started with a Market Perform rating and a price target of $55 at Cowen. The consensus target for the chemical conglomerate is $59.09, and the stock ended Thursday’s trading at $51.75.

Grubhub Inc. (NYSE: GRUB) was started with a Buy rating at Benchmark, which has a $95 price target. The consensus target is posted at $98.04, and the shares closed trading on Thursday at $74.91 apiece.

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KBR Inc. (NYSE: KBR) was raised to Outperform from Market Perform at Cowen, which also raised the price target on the construction giant to $31. The consensus target is $25.55, and the shares were last seen trading at $25.27.

Philip Morris International Inc. (NYSE: PMI) was raised to Overweight from Equal Weight at Barclays, which also raised the price target on the tobacco giant to $100. Shares have traded between $65 and $91 apiece over the past 52 weeks, and the stock closed on Thursday at $87.50, up almost 5% on the day.

Public Storage (NYSE: PSA) was raised to Buy from Neutral at Merrill Lynch. The self-storage giant has traded in a 52-week range of $193.89 to $251.28. The consensus price target is posted at $214.36, but shares closed way above that level most recently at $247.55.

Post Holdings Inc. (NYSE: POST) was raised to Overweight from Neutral at Piper Jaffray. The firm also raised its price target to $130. The consensus target price is $122.50, and the stock was last seen trading at $108.04.

Skechers USA Inc. (NYSE: SKX) saw its target price raised to $42 from $35 at Monness Crespi & Hardt, where the analysts noted that the company has managed expenses well in the past three quarters, focusing on profitability over sales. They also believe that if management can continue to deliver more profitable growth, then the stock’s multiple will expand as the company’s multiyear track record of double-digit sales growth should justify a higher valuation. The stock closed Thursday at $34.84.

Travelers Companies Inc. (NYSE: TRV) was downgraded to Neutral from Buy at Buckingham Research. The shares have traded in a 52-week range of $111.08 to $159.09. The stock closed Thursday at $152.71.

V.F. Corp. (NYSE: VFC) saw its price target raised to $90 from $88 at Pivotal Research Group. That compares with the higher consensus target of $95.21. The stock closed most recently at $87.16.

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Zacks has named Amazon.com Inc. (NASDAQ: AMZN) as its Bull of the Day, saying that the e-commerce, cloud-computing powerhouse appears strong at the moment, especially heading into its second-quarter earnings next week. The Bear of the Day is Abercrombie & Fitch Co. (NYSE: ANF). Zacks noted that this retailer’s shares have tanked 35% since the firm reported slower-than projected sales growth and provided guidance in the first quarter.

Thursday’s top analyst calls included Advanced Micro Devices, Apple, Chipotle Mexican Grill, Costco, Exxon Mobil, Netflix, Qualcomm, Ulta Beauty, U.S. Bancorp and more.

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Stocks were indicated to open higher on Thursday with optimism after Federal Reserve Chair Jerome Powell was more dovish on his stance on interest rate cuts. The S&P 500, Dow Jones industrials and Nasdaq are all basically now at all-time highs, and the relentless bull market is well over 10 years old. This is a time when investors have to 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 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 Thursday, July 11, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Neutral from Underperform at Wedbush Securities. Shares closed up 0.4% at $17.08, in a 52-week range of $14.66 to $30.63 and with a consensus target price of $20.25.

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Air Products & Chemicals Inc. (NYSE: APD) was downgraded to Neutral from Buy at UBS, but the firm did raise its target to $240 from $224.

Allstate Corp. (NYSE: ALL) was downgraded to Underperform from Neutral and the target price was lowered to $94 from $10 at Credit Suisse. Shares closed down 0.4% at $104.26, in a 52-week range of $77.00 to $107.43. The consensus target price is $109.07.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) had traded up after reporting a net loss after charges, but it was last seen down about 3% at $11.08 on Thursday. Citigroup maintained it as Neutral but cut the target price to $13 from $18. Goldman Sachs initiated coverage with a Neutral rating and an $11 price target. Shares closed up 0.7% at $11.52. The 52-week range is $10.46 to $20.43, and the consensus target price is $17.14.

Best Buy Co. Inc. (NYSE: BBY) was started as Neutral with a $73 target price at Goldman Sachs. Shares closed at $71.93, in a 52-week range of $47.72 to $84.37 and with a consensus target price of $76.68.

Blue Apron Holdings Inc. (NASDAQ: APRN) was maintained with a Neutral rating at Citigroup, but the firm slashed its target price to $8 from $18.

Cimarex Energy Co. (NYSE: XEC) was downgraded to Market Perform from Outperform at BMO Capital Markets.

Costco Wholesale Corp. (NASDAQ: COST) was started with a Buy rating and a $290 target price at Goldman Sachs. Shares closed up 0.5% at $271.42, in a 52-week range of $189.51 to $271.53. The consensus target price is $253.92.

Endo International PLC (NASDAQ: ENDP) was downgraded to Sector Perform from Outperform and the target price was slashed to $6 from $11 at RBC Capital Markets.

Freeport-McMoRan Inc. (NYSE: FCX) was raised to Buy from Hold and the target price was raised to $13.50 from $12.50 at Deutsche Bank. Shares closed up 0.7% at $10.95, in a 52-week range of $9.47 to $17.80 and with a consensus analyst target of $13.61.

Home Depot Inc. (NYSE: HD) was started as Buy with a $235 target price at Goldman Sachs. Shares closed down 0.6% at $210.75. The 52-week range is $158.09 to $215.43. The consensus target price is $207.93.

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International Paper Co. (NYSE: IP) was downgraded to Neutral from Buy and the target price was lowered to $45 from $53 at Citigroup.

Lowe’s Companies Inc. (NYSE: LOW) was started with a Buy rating and assigned a $119 target price at Goldman Sachs. Shares closed down 1.7% at $103.08, in a 52-week range of $84.75 to $118.23. The consensus target price is $113.83.

Methanex Corp. (NASDAQ: MEOH) was cut from Outperform to Neutral and the target price was lowered to $53 from $70 at CIBC.

Microsoft Corp. (NASDAQ: MSFT) was started with an Outperform rating and assigned a $150 target price at Cowen. Shares closed up 1% at $137.85, in a 52-week range of $93.96 to $138.58 and with a consensus target price of $144.06.

Regions Financial Corp. (NYSE: RF) was downgraded to Neutral from Buy at Merrill Lynch.

Take-Two Interactive Software Inc. (NASDAQ: TTWO) was downgraded to Hold from Buy at Jefferies. Shares closed up 1.8% at $117.16, in a 52-week range of $84.41 to $139.91. The consensus target price is $121.79.

Target Corp. (NYSE: TGT) was started as Buy with a $102 price target at Goldman Sachs. Shares closed down 2.2% at $85.85, in a 52-week range of $60.15 to $90.39 and with a consensus target price of $88.20.

TD Ameritrade Holding Corp. (NASDAQ: AMTD) was downgraded to Equal Weight from Overweight at Morgan Stanley.

Walmart Inc. (NYSE: WMT) was started with a Buy rating and assigned a $123 target price at Goldman Sachs. Shares closed at $112.98. The stock has a 52-week range of $85.78 to $113.61 and a consensus target price of $110.89.

Weight Watchers International (NYSE: WTW) was raised to Neutral from Underweight and the target price was raised to $22 from $17 at JPMorgan.

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Zacks has named Avis Budget Group Inc. (NASDAQ: CAR) as its Bull of the Day, as sell-side analysts are becoming progressively optimistic about the future of this business. The Bear of the Day is Kohl’s Corp. (NYSE: KSS), which is seeing sell-side analysts growing increasingly pessimistic.

Eight large-cap and mega-cap stocks saw key analyst upgrades and target hikes on Wednesday, including Comcast, FedEx, Lockheed Martin, PepsiCo and Visa.

With the stock market at record highs, the analysts at Robert W. Baird have made the case the top aerospace and defense stocks can outperform yet again in the second half of 2019.

Wednesday’s top analyst calls included Acacia Communications, Baidu, BioMarin Pharmaceuticals, Boeing, BP, CSX, Deere, HCA, PepsiCo, Redfin, S&P Global, Trimble, Visa, Zillow and many more.

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Whenever there is any hiccup in the economy, consumers tighten their spending on non-critical items. That means that curtailing entertainment spending, dining out, and buying new clothing and apparel become targeted as ways consumers can save money without a serious disruption to their lives.

The media loves to scare the public about the next recession, and one ultimately will come, even if it is not as soon as some might worry about. The problem today is that retailers with their own branded clothing or with a set of common providers have been absolutely crushed during May and over a longer period. The one common theme among these retail players is that they all have apparel as their primary focus. The companies seem to be in a fight for relevance, if you only looked at their stocks, and while some companies are facing deep existential threats, there are some that have grown earnings and revenues and that are expected to keep growing. That sets a disturbing pattern for investors trying to figure out where is and is not safe to invest in retail.

24/7 Wall St. ran a screen of the top apparel retailers with performance over the past month using a Finviz screen. We aren’t even in a recession yet, and the performance drops that have been seen should make any investor wonder how bad these companies will see their shares fall when even the likes of Amazon and discount retailers are complaining about weak consumer metrics.

The overall economy does not have to be in a recession for many retailers to feel like they are in their own recession. After all, selling fashion, clothing and accessories to the public is subject to high seasonal issues and subject to weather, and there are generally three annual periods when the retailers have to get their merchandising right each and every time.

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American Eagle Outfitters Inc. (NYSE: AEO) has its retail stores in major metropolitan areas, and its shares were last seen trading down about 27% over the past month. Its market cap was down to about $3 billion, and being valued at less than 10 times forward earnings is not enough to matter, despite an expected mid-single-digit sales growth and roughly 10% earnings per share growth expected to continue.

Abercrombie & Fitch Co. (NYSE: ANF) disappointed on its last earnings report with poor guidance, and it even announced it would close some flagship stores. Its stock was down over 40% in the past month, after a drop of about 29% over the past week. This is a turnaround candidate that just doesn’t seem to be able to hold on to a turnaround. Abercrombie has a market cap of close to $1.14 billion.

Express Inc. (NYSE: EXPR) is expected to have a loss for 2019, and that loss is expected to narrow in 2020, but with flat to slightly lower sales. The stock was down just about 20% in the past month and down 7% in the past week, and it lost two-thirds of its value from this time a year ago. Express sells apparel and accessories targeted to women and men mostly in the 20- to 30-year-old range. Its market cap is now just $205 million.

Francesca’s Holdings Corp. (NASDAQ: FRAN) is a women’s retailer that seems to be in a death spiral. It is now a penny stock that unlikely will keep a primary index listing without a reverse split, and its sales keep sliding. While shares were down about 27% in the past month, they are down over 90% from a year ago. As of February 2, 2019, the company operated approximately 727 boutiques, but it is now exploring strategic alternatives and announced senior leadership changes in recent months. With well over $400 million in last year’s sales, how confident does the market seem with a mere $17 million market cap?

Guess Inc. (NYSE: GES) sells at its own stores, plus other stores have carried the brand. Its shares were down over 21% in the past month and down about 33% over the past year. Guess has a $1.1 billion market cap, and its sales and earnings are expected to rise again in 2019 and 2020. As of February 2, 2019, Guess operated 1,161 retail stores in the Americas, Europe, and Asia, and its licensees and distributors operated an additional 558 retail stores globally.

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Gap Inc. (NYSE: GPS) has seen its namesake brand underperform, but now even Old Navy is performing badly. All this is just ahead of a would-be break-up of the company in which Old Navy will trade as a standalone company. Is that even possible, given how badly the stock has acted of late? Gap is down 12% over the past week, about 27% in the past month and by just over a third from this time last year. Its market cap is now just $7 billion, and the entity has faced numerous issues over that past two decades.

J.Jill, Inc. (NASDAQ: JILL) was crushed after earnings recently, despite still having a slight profit. Also, short sellers have marked it as fair game. The shares fell 61% last week, for better than a 70% drop in May, and that’s about the same as it was a year ago. J.Jill is down to a $68 million market cap, despite revenues last year hitting $700 million.

Lands’ End Inc. (NYSE: LE) may seem like more of a catalog and mail order retailer, but revenues and operating income have fluctuated in a range over the past four years. Its market cap is barely $400 million, versus $1.45 billion in sales last year. One issue that may be impossible to ignore is that as of February 1, 2019, it operated 49 Lands’ End Shops at Sears stores. When was the last good thing that happened at Sears? Lands’ End shares were down 28% over the past month, and it’s down about 37% from a year ago.

Tailored Brands Inc. (NASDAQ: TLRD) is still worth only about $263 million in market cap, but the owner of Men’s Wearhouse, Jos. A. Bank, Joseph Abboud and others has seen its shares slide ever lower. The drop of 32% in the past month made for an 84% drop from this time a year ago. Revenues are still sliding gradually each year (to $3.2 billion over the past year), and analysts are calling for a tiny drop in 2019 as well. This one also remains a target of short sellers.

Tilly’s Inc. (NYSE: TLYS) has a market cap of close to $230 million, but that’s after a share price drop of 25% in the past week. It has now lost over 34% in the past month and is down just over 40% in the past six months. Targeting young men and women, and boys and girls, Tilly’s had over 225 stores on last look. It sells online and provides third-party merchandise assortment across its various product categories as well. Tilly’s has seen revenues ratchet higher on a slow pace to almost $600 million over the past year, and the company is expected to keep a mid-single-digit sales pact in the next two years with continued earnings growth.

Urban Outfitters Inc. (NASDAQ: URBN) doesn’t grow as fast as it used to, and now the company has multiple retail and apparel store name destinations. It has managed to keep slowly growing its revenues in recent years, but the investing public is now paying less than 10 times past and expected earnings per share, and its value is about $2.3 billion. Shares of Urban Outfitters were down 24% in the past month, but it is down over 50% from its peak in 2018.

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Things may sound awful for these specialty players, but look elsewhere with poor performance outside of the major discounters in clothing and accessories. Nortdstrom Inc. (NYSE: JWN), the last of the independent high-end retailers in which you can still trade the stock, is now down over 50% from its 52-week high, and it cannot seem to escape the whittling away from luxury sales and upscale sales happening at all levels of retail apparel and accessories. Dillard’s Inc. (NYSE: DDS) continues to slide, and the long-term death march continues at Macy’s Inc. (NYSE: M).

Even Kohls Corp. (NYSE: KSS), which is currently expanding its drop-off/return pact for Amazon customers (regardless of what item is bought) lost more than one-quarter of its market cap during May after earnings disappointed.

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When Abercrombie & Fitch Co. (NYSE: ANF) released its fiscal first-quarter financial results before the markets opened on Wednesday, the firm said that it had a net loss of $0.56 per share and $734 million in revenue. The consensus estimates had called for a net loss of $0.44 per share and revenue of $733.16 million. In the same period of last year, the retailer said it had a $0.56 per share net loss and $730.9 million in revenue.

During the most recent quarter, comparable sales increased 1%, on top of 5% last year.

As part of its transformation effort, the firm is closing a few of its flagship locations in New York City; Fukuoka, Japan; and Milan, Italy. These build on the closures of the Pedder Street, Hong Kong and Copenhagen flagship locations.

Looking ahead to the fiscal second quarter, the company expects to see net sales increasing in the range of flat to 2%, with flat comparable sales. The consensus estimates are $0.08 in earnings per share and $866.69 million in revenue.

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CEO Fran Horowitz commented:

We achieved our seventh consecutive quarter of positive comparable sales fueled by ongoing strength at Hollister and a return to positive comps at Abercrombie. This contributed to top-line growth, operating margin improvement and a net loss reduction compared to last year

Shares of Abercrombie & Fitch were down about 24% at $18.92 early on Wednesday, in a 52-week range of $15.28 to $30.63. The consensus analyst target is $24.50.

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The latest earnings reporting season is winding down, but a few major companies have yet to share their results. This is a truncated trading week, with the markets closed on Monday for Memorial Day. Still, 24/7 Wall St. has put together a preview of the most prominent earnings reports expected this week.

We have included the consensus earnings estimates, as well as the stock price and trading history. Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.

Abercrombie & Fitch Co. (NYSE: ANF) is scheduled to report its fiscal first-quarter results before the open on Wednesday. The consensus estimates call for a net loss of $0.44 per share and revenue of $733.16 million. Shares were changing hands at $24.61 on Friday’s close. The consensus price target is $24.50, and the 52-week trading range is $15.28 to $30.63.

Expect Palo Alto Networks Inc. (NYSE: PANW) to release its most recent quarterly results late on Wednesday. The consensus forecast calls for $1.25 in earnings per share (EPS) and $704.05 million in revenue for the fiscal third quarter. Shares traded most recently at $216.26. The consensus price target is $279.91, and shares have traded between $160.08 and $260.63 in the past 52 weeks.

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Dollar General Corp.’s (NYSE: DG) fiscal first-quarter report is due before Thursday’s opening bell. The consensus estimates call for $1.39 in EPS and $6.56 billion in revenue. Shares traded at $121.96 most recently. The consensus price target is $125.54, and the 52-week range trading range is $86.87 to $126.84.

Look for Dollar Tree Inc. (NASDAQ: DLTR) to release its most recent quarterly results early on Thursday. The consensus forecast calls for $1.14 in EPS and $5.79 billion in revenue for the fiscal first quarter. Shares ended the week at $98.42. The consensus price target is $111.40, and shares have traded between $78.78 and $111.61 in the past 52 weeks.

Costco Wholesale Corp. (NASDAQ: COST) is expected to report its fiscal second-quarter results Thursday afternoon. On average, analysts anticipate $1.82 in EPS and $34.67 billion in revenue. Shares closed at $247.30 on Friday. The consensus price target is $250.17. The stock has a 52-week trading range of $189.51 to $251.01.

The Dell Technologies Inc. (NYSE: DELL) fiscal first-quarter results are due after the close on Thursday. The consensus estimates call for per-share earnings of $1.22 and revenue of $733.16 million. Shares were changing hands at $66.12 as the week ended. The consensus price target is $71.90, and the post-IPO trading range is $41.58 to $70.55.

Marvell Technology Group Ltd.’s (NASDAQ: MRVL) fiscal first-quarter report is scheduled for Thursday after the closing bell. The consensus forecast calls for $0.14 in EPS on revenue of $22.27 billion. Shares traded at $21.92 apiece on Friday’s close. The consensus price target is $26.68, and the 52-week trading range is $14.34 to $25.74.

Uber Technologies Inc. (NYSE: UBER) also will report its fiscal first-quarter results late on Thursday. Analysts are looking for a $1.46 per share net loss and $3.08 billion in revenue. Shares ended the week at $41.51, but the consensus price target is $57.67. The stock has a post-IPO trading range of $36.08 to $45.00.
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It’s been a tough ride to be a brick-and-mortar retailer in the past decade or so. Even with a rising stock market over 10 years and even with a strong economy, many retailers are under constant fire from the likes of Amazon.com Inc. (NASDAQ: AMZN) and other online-only retailers.

While the causes of the business pressure in traditional retailing are well known, some companies are managing to continue to do well. Other companies that had suffered have managed to recover and see big gains for their shareholders.

24/7 Wall St. has been tracking the continued gains and recovery in the market in 2019. While Amazon is up about 20% from a year ago and about 18% higher so far in 2019, and even with it previously targeting a $1 trillion valuations and being down about 14% from last year’s highs, some rather well-known retail companies are seeing far larger gains for their investors in the first quarter of 2019. And several others are within striking distance of Amazon’s performance in the first quarter of 2019.

Without question, there remain some rather large hurdles and risks that could trap would-be investors in retail. One significant risk that individual retailers have to be more careful about is in stocking the items that consumers want to buy at different times of the year and with seasonal offerings.

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It is important to understand why the first-quarter share performance in any given year matters so much to the retail sector. This is the period when investors get to evaluate how a company did in the ever-important holiday season and what a company is forecasting for the year ahead.

Four well-known retail stocks are outperforming Amazon so far in 2019. We have conducted a screen from Finviz, added in some trading and fundamental color, and we have included what the implied upside could be using the consensus analyst target prices from Refinitiv.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) just hasn’t been able to find a solid turnaround. Still, this year has seen a better showing in its numbers than had been seen, and now a group of activist investors is targeting the entire board of directors for replacement. Bed Bath & Beyond shares are still down 20% from a year ago, but it was last seen trading up a whopping 49% so far in 2019. With its shares recently trading around $17, the consensus analyst target of $13.00 may not sound enticing, as some analysts have not refreshed their targets after the activist investor news. Its market cap is only $2.3 billion at this time, and its 52-week trading range is $10.46 to $21.74. The shares peaked at $80 in late 2013.

J.C. Penney Co. Inc. (NYSE: JCP) was very surprising to see as the second top performer of the 20 retail stocks we used in our screen for the first quarter of 2019. While the stock is still down almost 50% from a year ago, the shares have gained a whopping 46% so far in 2019. This company remains in desperate need of a turnaround, and the $1.57 share price compares with a 52-week range of $0.920 to $3.54. The market cap is only about $500 million at this point, so don’t look for Jeff Bezos to be worried that the department store is going to wreck the Amazon empire. The consensus analyst price here is at $1.45. Shares recently reacted positively after the appointment of a new chief financial officer. Before thinking that only great days await at J.C. Penney, note that this was an $80 stock at the pre-recession peak.

Best Buy Co. Inc. (NYSE: BBY) is still plugging away and has overcome being called the “Amazon showroom” as some investors had worried in years past. While the shares are up just 5% from a year ago, the stock has given a return of 33% so far in the first quarter of 2019. Best Buy has a $19 billion market cap, based on its $70.30 share price, and a 52-week trading range of $47.72 to $84.37. The consensus target price was last seen at $76.64.

Abercrombie & Fitch Co. (NYSE: ANF) has recovered handily, with investors believing its turnaround story. That said, it is still targeting some store closures. Its shares were last seen up 26% so far in 2019, and that’s still up about 9% from this time in 2018. Trading at $26.00 a share, it has a market cap of just $1.7 billion. Abercrombie has a 52-week trading range of $15.28 to $29.69 and a consensus target price of $24.50. The share price is still only about one-third of its peak value from before the recession.

Target Corp. (NYSE: TGT) is the last of the major retailers we have seen outperforming so far in 2019. Its 20.5% gain this year compares with a 17% gain from this time last year. Target’s near $80 share price falls in a 52-week range of $60.15 to $90.39, and the consensus price target is $85.73. The market cap is $41 billion.

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Other retail-focused stocks are also in the hunt of Amazon’s near 19% gain year to date.

The TJX Companies Inc. (NYSE: TJX) was last seen up 18.1% year to date, and Costco Wholesale Corp. (NASDAQ: COST) was up 17.3%. Shares of Lowe’s Companies Inc. (NYSE: LOW) are also continuing to recover some ground from Home Depot Inc. (NYSE: HD) with gains of almost 15%, versus 10% year-to-date gains from its rival. Dollar Tree Inc. (NASDAQ: DLTR) continues to see a recovery as well, with gains of almost 13% so far in 2019.

Some investors have feared the dominance of Amazon for years now. And a lot of that fear is justified. Amazon didn’t get on the path for a $1 trillion market cap out of the blue. Still, there is at least some proof that other retail stocks can perform well or stage recoveries in the current climate.

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Stocks were indicated lower, and the stock market may be looking at five straight down days now. Still, the recent selling has been around less news flow after earnings season, and the Dow Jones industrial average had rallied some 3,500 points from its lows at the start of the year. Investors have to be considering how they want their investments and assets positioned for the rest of 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing ideas and trading ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while some of the analyst reports cover stocks to sell or stocks to avoid.

Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters (Refinitiv) sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Friday, March 8, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Buy and the price target was raised to $28 (versus a $25.76 prior close) at Argus. Abercrombie had a consensus target price of $23.58.

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Alaska Air Group Inc. (NYSE: ALK) was downgraded to In-Line from Outperform at Imperial Capital. The stock closed at $55.95 a share and has a consensus target price of $78.73.

BP Midstream Partners L.P. (NYSE: BPMP) was reiterated as Underperform and the price target was lowered to $15 from $17 (versus a $15.50 close) at Credit Suisse. Its yield-equivalent is currently 7.8%, and it has a consensus target price of $19.57.

BCE Inc. (NYSE: BCE) was raised to Buy from Hold and the price target was set at $48 at Argus. Shares closed at $43.81 on Thursday, and the call is with a 5.5% yield and the dividend continuing to grow. The firm also noted that its chart has reversed a long-term bearish trend wherein shares have risen in a bullish pattern of higher highs and higher lows.

Buckeye Partners L.P. (NYSE: BPL) was raised to Buy from Neutral and the target price was raised to $36 from $33 (versus a $33.09 close) at UBS.

DRDGOLD Ltd. (NYSE: DRD) was started with an Outperform rating at Macquarie. The stock closed at $2.10 and has a consensus target price of $3.85.

Ensco PLC (NYSE: ESV) was raised to Buy from Hold at HSBC. It closed down 1.2% at $4.17 on Thursday, in a 52-week range of $3.19 to $9.51.

Etsy Inc. (NASDAQ: ETSY) was downgraded to Neutral from Buy at BTIG. The stock closed down 4% at $67.24 on Thursday, and it has a consensus price target of $68.46.

Exxon Mobil Corp. (NYSE: XOM) was downgraded to Market Perform from Outperform at Cowen. It closed up 1.1% at $80.16 on Thursday, and it previously had a consensus target price of $85.17.

GameStop Corp. (NYSE: GME) was downgraded to Underperform from Neutral and the price objective was lowered to $9 from $12 (versus an $11.59 close) at Merrill Lynch. GameStop has a consensus target price of $12.27 and a 52-week range of $11.17 to $17.27.

Glaukos Corp. (NASDAQ: GKOS) was started as Neutral at BTIG.

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Kraft Heinz Co. (NASDAQ: KHC) was reiterated as Underperform at Credit Suisse, with the firm noting that it was lowering fiscal 2019 and fiscal 2020 earnings based on higher depreciation expenses.

Life Storage Inc. (NYSE: LSI) was downgraded to Underperform from Neutral and the price objective was lowered to $99 from $105 (versus a $95.55 close) at Merrill Lynch.

MercadoLibre Inc. (NASDAQ: MELI) was downgraded to Negative from Neutral at Susquehanna. The stock closed down 2.2% at $451.15 on Thursday and was indicated down another 2.7% at $439.00 on Friday. The consensus target price is $420.75.

National Beverage Corp. (NASDAQ: FIZZ) was downgraded to Sell from Neutral at Guggenheim. Its shares were down 19.4% at $55.00 on Friday morning after poor earnings.

Netflix Inc. (NASDAQ: NFLX) was downgraded to Neutral from Buy and with a $382 target (versus a $352.60 close) at Buckingham Research. Netflix has a consensus target price of $383.15.

PNM Resources Inc. (NYSE: PNM) was raised to Neutral from Underperform at Mizuho.

PPL Corp. (NYSE: PPL) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Rowan Companies PLC (NYSE: RDC) was raised to Buy from Hold at HSBC. It closed down 1.7% at $11.37 and was indicated down 0.6% at $11.30 on Friday.

SeaWorld Entertainment Inc. (NYSE: SEAS) was raised to Outperform from Neutral at Macquarie. Shares closed down 3.6% at $26.03 on Thursday and were indicated up just 0.3% at $26.10 on Friday.

Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) was downgraded to Neutral from Buy at Merrill Lynch. Its American depositary shares closed down 2.3% at $37.64 on Thursday and were indicated down 1.9% at $36.92 on Friday, with a consensus target price of $50.69.

Splunk Inc. (NASDAQ: SPLK) was reiterated as Buy and the price target was raised to $156 (versus a $123.33 close) at Argus, which noted the strong results. The consensus target price is $151.54.

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Tandem Diabetes Care Inc. (NASDAQ: TNDM) was started as Outperform and assigned a $77 target price (versus a $61.78 close) at BMO Capital Markets. The consensus target price was $67.27 ahead of the call.

Tilray Inc. (NASDAQ: TLRY) was started with an Underperform rating and assigned a $61 price target (versus a $69.72 close) at Jefferies, with the firm noting that it has a hard time justifying its current valuation. Tilray was indicated down 6% at $65.50 after the call.

Vodafone Group PLC (NASDAQ: VOD) was downgraded to Neutral from Outperform at BNP Paribas. The American depositary shares closed up 0.3% at $17.69 on Thursday and were indicated up 1% at $17.87 on Friday.

Wageworks Inc. (NYSE: WAGE) was raised to Outperform from Market Perform and the price target was raised to $65 from $45 (versus a $27.70 close, after a 3.4% drop) at Wells Fargo. It has a 52-week range of $25.15 to $56.80.

W&T Offshore Inc. (NYSE: WTI) was started with a Buy rating and assigned a $10 price target (versus a $4.94 close) at Stifel. The 52-week range is $3.62 to $9.88.

Thursday’s top analyst calls included Abercrombie & Fitch, BHP, Coca-Cola, Monster Beverage, Procter & Gamble, Rio Tinto, Toll Brothers and many more.

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Stocks were indicated to open marginally higher on Thursday, but not by enough of a line to feel like the day’s direction has been set. The market has pulled back from highs, but the move is also after the Dow Jones industrials had risen well over 3,000 points from its lows in January. Investors should be considering how they want their assets positioned for the rest 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 investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These were the top analyst upgrades, downgrades and initiations seen on Thursday, March 7, 2019.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Neutral from Underweight and the target price was raised to $27 from $19 at JPMorgan.

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Anheuser-Busch InBev S.A./N.V. (NYSE: BUD) was downgraded to Sector Perform from Outperform and was removed as a Top Pick at RBC Capital Markets.

BHP Group Ltd. (NYSE: BHP) was downgraded to Hold from Buy at Societe Generale.

Clorox Co. (NYSE: CLX) was started as Outperform and assigned a $172 price target at Credit Suisse.

Coca-Cola Co. (NYSE: KO) was started as Neutral with a $48 price target at Credit Suisse.

Colgate-Palmolive Co. (NYSE: CL) was started as Underperform at Credit Suisse.

Constellation Brands Inc. (NYSE: STZ) was started as Outperform and assigned a target price of $230 at Credit Suisse.

Estee Lauder Companies Inc. (NYSE: EL) was raised to Overweight from Neutral at JPMorgan.

Federal Realty Investment Trust (NYSE: FRT) was downgraded to Neutral from Buy at Mizuho.

Five Below Inc. (NASDAQ: FIVE) was started as Outperform and assigned a $140 target price at Oppenheimer.

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Meritage Homes Corp. (NYSE: MTH) was downgraded to Underweight from Neutral at JPMorgan.

Monster Beverage Corp. (NASDAQ: MNST) was started with an Outperform rating at Credit Suisse.

PepsiCo Inc. (NYSE: PEP) was started with an Underperform rating and assigned a $100 price target at Credit Suisse.

Procter & Gamble Co. (NYSE: PG) was started as Neutral with a $100 price target at Credit Suisse.

Rio Tinto PLC (NYSE: RIO) was downgraded to Sell from Hold at Societe Generale.

Sunoco L.P. (NYSE: SUN) was downgraded to Neutral from Outperform at Robert W. Baird.

Taylor Morrison Home Corp. (NASDAQ: TMHC) was raised to Overweight from Neutral at JPMorgan.

Toll Brothers Inc. (NYSE: TOL) was downgraded to Underweight from Neutral at JPMorgan.

Unity Biotechnology Inc. (NASDAQ: UBX) was started as Overweight and assigned a $21 target price (versus a $9.08 prior close) at Cantor Fitzgerald.

Wednesday’s top analyst calls included CSX, Intelsat, Kohl’s, NIO, Rio Tinto, TripAdvisor, VMware and many more.

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Abercrombie & Fitch Co. (NYSE: ANF) reported fiscal fourth-quarter and full-year 2018 results before markets opened Wednesday. For the quarter, the specialty retailer posted quarterly adjusted diluted earnings per share (EPS) of $1.35 on net sales of $1.16 billion. In the same period a year ago, the company reported EPS of $1.38 and revenues of $1.19 billion. Fourth-quarter results also compare to consensus estimates for EPS of $1.15 and $1.13 billion in revenues.

For the 2018 fiscal year, the company reported EPS of $1.15 and revenues of $3.59 billion, compared to 2017 EPS of $0.65 and revenues of $3.49 billion. Analysts had been looking for EPS of $0.97 and revenues of $3.57 billion. The 2017 fiscal year included one additional week.

Same-store sales rose 3% in the third quarter, led by a 6% jump at A&F’s Hollister stores. U.S. same-store sales jumped 5% while international sales were down 2%. For the full year, same-store sales rose 3% and U.S. sales were up 6%.

For the fiscal year ahead, A&F sees net sales rising by 2% to 4% and same-store sales up in the low-single digits. The company said it would close up to 40 stores this year and “deliver” about 85 “new store experiences” by opening new store prototypes, remodeling and right-sizing. Analysts had forecast EPS of $1.11 and revenues of $3.61 billion (up about 0.6% over 2018).

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For the first quarter, net sales are forecast to be flat with last year’s total of $730.9 million and same-store sales are expected to be flat to up 2%. Analysts expect a net loss of $0.47 per share and revenues of $732.5 million (up by about 0.2%).

CEO Fran Horowitz said:

We ended 2018 on a strong note, recording our sixth consecutive quarter and second consecutive full year of positive comparable sales while exceeding $1 billion in annual digital sales. I am proud of our team and all we have accomplished this year. Most importantly, while delivering on the top-line, we drove gross profit rate improvement and operating expense leverage resulting in 100 basis points of adjusted EBIT margin expansion and a 77% improvement in adjusted net income for the full year.

The solid beats on quarterly and full-year estimates coupled with an optimistic outlook are giving investors a reason to chase the shares higher this morning.

Investors have pushed shares up about 8.4% in Wednesday’s premarket session to $23.49, in a 52-week range of $15.28 to $29.69. The 12-month consensus price target was $20.38 before this morning’s report.

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The broad markets ended the past week on a positive note, with the S&P 500 closing over 2,800 and the Dow Jones industrial average hitting over 26,000. The week saw some incredible gains and losses as a result of earnings, and there are still more big companies reporting this week.

24/7 Wall St. has reviewed some of the key companies reporting this week. We have included the consensus earnings estimates from Refinitiv (Thomson Reuters) and the stock price and trading history, as well as some additional color on each.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies change earnings dates as well.

Kohl’s Corp. (NYSE: KSS) is expected to report its fiscal fourth-quarter results early Tuesday. The consensus estimates are $2.18 in earnings per share (EPS) on revenue of $6.58 billion. Shares were last seen changing hands at $68.10. The consensus price target is $73.75, and the 52-week trading range is $57.89 to $83.28.

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Target Corp. (NYSE: TGT) is expected to report its most recent quarterly results Tuesday morning. The consensus analyst estimates call for $1.52 in EPS and revenue of $23.05 billion. Shares traded at $72.94 on Friday’s close. The consensus price target is $82.12, and the 52-week trading range is $60.15 to $90.39.

Ambarella Inc. (NASDAQ: AMBA) is scheduled to report its fiscal fourth-quarter results after trading closes on Tuesday. The consensus estimates call for EPS of $0.04 and $51.08 million in revenue. Shares were changing hands at $40.02 on Friday’s close. The consensus price target is $44.56, and the 52-week trading range is $30.00 to $55.50.

Urban Outfitters Inc. (NASDAQ: URBN) also is set to report its fiscal fourth-quarter results after the closing bell on Tuesday. The consensus estimates are $0.79 in EPS and $1.14 billion in revenue. Shares closed trading at $31.13 apiece on Friday. The consensus price target is $39.69, and the stock has a 52-week range of $29.84 to $52.50.

Abercrombie & Fitch Co. (NYSE: ANF) is scheduled to report its fiscal fourth-quarter results first thing Wednesday morning. The consensus estimates call for EPS of $1.15 and $1.13 billion in revenue. Shares closed at $22.40 on Friday. The consensus price target is $20.38, and the 52-week trading range is $15.28 to $29.69.

Dollar Tree Inc. (NASDAQ: DLTR) fiscal fourth-quarter report is scheduled for Wednesday before the opening bell. The consensus forecast calls for $1.92 in EPS on $6.19 billion in revenue. Shares ended the week trading at $96.36 apiece. The consensus price target is $102.38, and the 52-week trading range is $78.78 to $105.59.

Kroger Co. (NYSE: KR) will report its fiscal fourth-quarter results early on Thursday. Overall, analysts expect to see $0.52 in EPS, as well as $28.38 billion in revenue. Shares were last seen at $28.02. The consensus price target is $30.57. The stock has a 52-week trading range of $22.85 to $32.74.

Costco Wholesale Corp. (NASDAQ: COST) fiscal first-quarter report is due Thursday after the close. The consensus forecast calls for $1.69 in EPS on $35.68 billion in revenue. The stock ended the week at $219.44 a share. The consensus price target is $236.61, and the 52-week trading range is $180.83 to $245.16.

El Pollo Loco Holdings Inc. (NASDAQ: LOCO) is expected to share its fourth-quarter results late Thursday. The consensus estimates are $0.14 in EPS on revenue of $104.4 million. Shares were changing hands at $15.23 on Friday’s close. The consensus price target is $18.00, and the 52-week trading range is $9.20 to $18.47.

Look for Marvell Technology Group Ltd. (NASDAQ: MRVL) to release its most recent quarterly results late on Thursday as well. The consensus forecast calls for $0.25 in EPS and $740.31 million in revenue for the fourth quarter. Shares closed most recently at $20.03. The consensus price target is $22.93, and shares have traded between $14.34 and $25.18 in the past 52 weeks.

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Abercrombie & Fitch Co. (NYSE: ANF) reported third-quarter fiscal 2018 results before markets opened Thursday. The specialty retailer posted adjusted diluted earnings per share (EPS) of $0.33 on net sales of $861.2 million. In the same period a year ago, the company reported EPS of $0.30 and revenues of $859.1 million. Third-quarter results also compare to consensus estimates for EPS of $0.20 and $852.97 million in revenues.

To call the results a blowout might be an understatement. Shares popped more than 20% in Thursday’s premarket trading, but that may have been due more to looking ahead rather than looking back, even though the rear-view mirror shows a pretty nice picture.

In its fourth-quarter outlook, A&F said it expects net sales to be down by mid-single digits year over year, largely due to one less week in the quarter and a strong dollar. Same-store sales are forecast up in the low single digits, well above analysts’ consensus call for a rise of 0.6%. Gross margins are forecast up “slightly” and operating expenses are seen down 1% to 2%.

Same-store sales rose 3% in the third quarter, led by a 4% jump at A&F’s Hollister stores. U.S. same-store sales jumped 6% while international sales were down 3%.

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CEO Fran Horowitz said:

We are pleased with our third quarter performance, our fifth consecutive quarter of positive comparable sales, with growth across both of our brands. We delivered 3% comparable sales growth on top of 4% last year, with continued gross profit rate stabilization. Our strong U.S omnichannel business, and 16% global digital sales growth, confirm that our playbooks are working.

The consensus analyst estimate for fourth-quarter EPS is $1.10 on revenue of $1.14 billion. For the full 2018 fiscal year, analysts are looking for EPS of $0.81 and sales of $3.56 billion.

A&F is forecasting full-year net sales up 2% to 4%, compared to the analyst consensus for a 1.9% increase. Same-store sales are forecast to rise in the same range and gross profit rate is set to rise “slightly” from last year’s 59.7% rate.

The company also expects to deliver about 70 “new store experiences” in the current fiscal year, including new store prototypes, remodeled stores and “right-sizes.” A&F also expects to close about 20 fewer stores than its original forecast of up to 60 closures due to improved performance and renegotiated leases.

Investors have pushed shares up just over 20% (up $3.48 per share) this morning to $20.60, in a 52-week range of $15.28 to $29.69. The 12-month consensus price target was $20.08 before this morning’s report.

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Abercrombie & Fitch Co. (NYSE: ANF) has been an occasional target of Wall Street’s brutal bet against old-line retail. Evidence of that continued based on short interest for the period that ended October 15. The 16.5 million shares sold short are 25% of the float.

There are plenty of reasons for the short position. Abercrombie’s stock has held its own this year, up 7% to $19.43. Over the same period, the S&P 500 is down just over 1%. However, over a five year period, Abercrombie shares are down 47% against a 51% surge by the S&P.

Two months ago, when the retailer announced earnings, the figures disappointed. This led some to think the critical holiday period will be a challenge. Revenue rose 8% to $842 million, as comparable store sales were up 3%. However, the bottom line was difficult as the company had a net loss of $2.8 million.

And Abercrombie’s forecast was lackluster:

 For fiscal 2018, the company expects:
• Comparable sales to be up in the range of 2% to 4%
• Net sales to be up in the range of 2% to 4%, with net sales in the third quarter to be approximately flat to last year, including the adverse effects from the calendar shift and changes in foreign currency exchange rate

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The fiscal third quarter extends through much of the holiday season, but it does not include the weeks just ahead of Christmas.

Short sellers are worried about the obvious. Abercrombie has dozens of retailer competitors both larger and smaller than it is. Amazon.com Inc. (NASDAQ: AMZN) continues to lay waste to the entire brick-and-mortar industry.

Abercrombie may pull a rabbit out of its hat, but it may have no hat to speak of.

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Stocks were looking to open lower on Thursday after a sharp sell-off on Wednesday took the Dow Jones industrials down 831 points and the S&P 500 down almost 95 points. That said, S&P and Dow futures bounced handily as inflation pressure in the Consumer Price Index came in softer than expectations. While the markets are still near all-time highs, investors have seen lower upside from buying immediately after the big market pullbacks in 2018 than in prior years. Now the investing community has to consider how to position their investments for the rest of the year and into 2019.

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

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

These are the top analyst upgrades, downgrades and initiations seen on Thursday, October 11, 2018.

Abercrombie & Fitch Co. (NYSE: ANF) was maintained as Neutral but the price target was cut down to $17 from $25 (versus a $19.03 prior close) at Wedbush Securities. Abercrombie has a 52-week trading range of $11.62 to $29.69 and it had a consensus target price of $22.83.

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Ashford Inc. (NYSE: AINC) was raised to Buy from Neutral but the price target was lowered down to $91 from $95 (versus a $73.15 close, after a 2.6% drop) at B. Riley.

BlackRock Inc. (NYSE: BLK) was maintained as Buy but the target price was lowered to $550 from $559 (versus a $426.76 close) at Deutsche Bank.

Celestica Inc. (NYSE: CLS) was raised to Outperform from Neutral Macquarie, a day after it rose 0.6% to $10.03 despite a big market sell-off. Also, Argus reiterated the stock as Hold, calling it a niche acquisition positive as of now.

CME Group Inc. (NYSE: CME) was reiterated as Buy and the target price was raised to $192 from $185 (versus a $180.25 close) at Deutsche Bank.

Costco Wholesale Corp. (NASDAQ: COST) was reiterated as Buy with a target price of $255 (versus a $221.05 close) at Argus, with the independent research firm talking up Costco’s financial strength and ability to deliver extreme values. Shares were indicated up 0.8% at $223.00 on Thursday after releasing strong monthly same-store sales. Costco has a consensus target price of $241.58, and its 52-week trading range is $156.36 to $245.16.

DowDuPont Inc. (NYSE: DWDP) was maintained as Buy but the target price was lowered to $74 from $79 (versus a $59.32 close, after a 2.5% drop) at Citigroup. DowDuPont was indicated down 1.1% at $58.66 on Thursday, and it has a post-split range of $59.01 to $77.08.

Edison International (NYSE: EIX) was downgraded to Neutral from Buy at Merrill Lynch, but the firm raised its price objective to $75 from $72 (versus a $70.08 close).

Esterline Technologies Corp. (NYSE: ESL) was up 30% after news that Transdigm is acquiring it. Credit Suisse raised its rating to Neutral from Underperform.

Gap Inc. (NYSE: GPS) was maintained as Neutral but the price target was cut to $25 from $32 (versus a $27.03 close) at Wedbush. The consensus target price is $32.95.

GoDaddy Inc. (NYSE: GDDY) was raised to Buy from Neutral at Citigroup. The stock closed down 6.5% at $70.79 on Wednesday during the sell-off, and its consensus price target was last seen at $83.87.

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HCA Healthcare Inc. (NYSE: HCA) was maintained as Buy and the price target was raised to $156 from $136 (versus a $135.09 close, after a 3.2% drop) at Citigroup.

Herbalife Nutrition Ltd. (NYSE: HLF) was started with a Buy rating and assigned a $65 price target (versus a $50.99 close) at Jefferies.

Invesco Ltd. (NYSE: IVZ) was maintained as Buy and the target price was cut to $27 from $30 (versus a $21.14 close, after a 3% drop) at Deutsche Bank.

Legg Mason Inc. (NYSE: LM) was still kept as a Buy rating but its price target was lowered to $38 from $40 (versus a $29.67 close) at Deutsche Bank.

Merck & Co. Inc. (NYSE: MRK) was reiterated as Outperform at Credit Suisse, and the firm raised its target price to $81 from $71 (versus $70.45 close, after a 2.6% drop) based on Keytruda and because of multiple options that can drive further upside. The consensus target price is $75.16.

Nasdaq Inc. (NASDAQ: NDAQ) was maintained as Buy but the exchange’s price target was lowered to $97 from $103 (versus an $81.97 close, after a 2.95% drop) at Deutsche Bank.

Nightstar Therapeutics PLC (NASDAQ: NITE) was started with an Overweight rating and assigned a $36 price target (versus a $15.03 closing price) at Cantor Fitzgerald. Its consensus target price is $34.50.

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PayPal Holdings Inc. (NASDAQ: PYPL) was maintained as Buy at Nomura/Instinet, which lowered the target price to $103 from $120. PayPal closed down 5.7% at $75.45 on Wednesday, with a consensus target price of $98.56 and in a 52-week trading range of $66.16 to $93.70.

Sempra Energy (NYSE: SRE) was raised to Buy from Neutral and the price objective was raised to $126 from $120 (versus a $115.46 close) at Merrill Lynch.

Urban Outfitters Inc. (NASDAQ: URBN) was maintained as Neutral but the price target was cut to $35 from $50 at Wedbush. Urban Outfitters closed down 2.3% at $38.95 on Wednesday, and it has a consensus target price of $50.33. The 52-week trading range is $21.76 to $52.50.

U.S. Silica Holdings Inc. (NYSE: SLCA) was downgraded to Underweight from Equal Weight at Morgan Stanley.

Due to the market bias changing over the past week and after Wednesday’s big sell-off, 24/7 Wall St. has issued 10 crucial lessons (and warnings) for value stock investors in a down market.

Also, a poll has been generated to predict how high the S&P 500 can rise (or say if it has peaked) before the next bear market.

Wednesday’s top analyst calls included Agilent Technologies, Alibaba, CRISPR Therapeutics, Iridium Communications, McDonald’s, Myriad Genetics, Shake Shack, Take-Two Interactive Software and many more. And Tuesday’s top analyst calls were in Apple, Baker Hughes, Blackbaud, Box, CSX, Intuit, Mylan, Tesla, Vodafone, Walmart and many more.

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When Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Thursday, the retailer said that it had $0.06 in earnings per share (EPS) and $842.4 million in revenue. That compares with consensus estimates that called for a net loss of $0.04 per share and revenue of $845.15 million, as well as the $0.16 per share profit and $779.32 million it posted in the same period of last year.

During the most recent quarter, comparable sales increased 3%, consisting of a 4% increase at Hollister and a 2% increase at Abercrombie. Thomson Reuters was calling for same-store sales of 3.7%.

In terms of its segments, the company reported as follows:

• Hollister net sales increased 12% year over year to $500.8 million.
• Abercrombie net sales increased 3% to 341.6 million.

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Looking ahead, the company expects to see net sales flat in the third quarter and increasing between 2% to 4% for the fiscal full year. Consensus estimates for the third quarter call for $0.32 in EPS and $859.04 million in revenue. The consensus estimates for the full year are $0.88 in EPS and $3.57 billion in revenue.

CEO Fran Horowitz commented:

We are pleased with our second quarter performance, capping off a strong first half of the year. During the second quarter, we delivered both top and bottom line growth, while continuing to invest in the transformation of our business. Our results reflect another quarter of profit improvement fueled by comparable sales growth across both brands, gross margin expansion and expense leverage as we continue to execute our playbooks. Hollister continued its momentum with another quarter of strong sales growth and Abercrombie posted its third consecutive quarter of positive comparable sales, led by strength in the U.S.

Shares of Abercrombie & Fitch were last seen down about 14% at $23.47, with a consensus analyst price target of $23.08 and a 52-week range of $9.03 to $29.69.

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Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Friday. The company said that it had a net loss of $0.56 per share on $730.9 million in revenue, while the consensus estimates from Thomson Reuters had called for a net loss of $0.77 per share and revenue of $696.65 million. The same period of last year reportedly had a net loss of $0.91 per share and $661.1 million in revenue.

During the latest quarter, consolidated comparable sales were 5%. This consisted of 6% comps at Hollister and 3% comps at Abercrombie.

By brand, net sales increased 13% to $423.6 million for Hollister and increased 7% to $307.3 million for Abercrombie from last year.

Direct-to-consumer net sales increased 14% to $200.7 million from last year and were approximately 27% of total net sales for the quarter.

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In terms of the outlook for the fiscal 2018 full year, the company expects to see net sales up in the range of 2% to 4%, with comparable sales up about 2% to 4%. The consensus estimates call for a net loss of $0.10 per share and $808.75 million in revenue.

CEO Fran Horowitz commented:

We are pleased with our performance across all brands, with the consistent execution of our playbooks delivering a solid quarter of sales growth, and bottom-line improvement. Results exceeded our expectations driven by a 5% increase in comparable sales, gross margin expansion, and 460 basis points of expense leverage. Hollister continued to drive strong sales growth across channels and geographies and Abercrombie built momentum with another quarter of positive comparable sales led by strength in North America.

Shares of Abercrombie & Fitch traded up about 4.5% at $24.98 in Friday’s premarket, only to tumble more than 9% to $21.68 shortly after the open. The consensus analyst price target is $22.54, and the 52-week trading range is $8.81 to $29.20.

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The U.S. broad markets took a small step forward this week, as the main part of earnings season has come to a close. Although most companies already have reported earnings, there are a few major companies sharing their results this week with a handful of retailers to look out for.

24/7 Wall St. has put together a preview of some of the top companies reporting their latest results in the coming week. We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history for these companies ahead of the report.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.

HP Inc. (NYSE: HPQ) is set to report its most recent quarterly results on Tuesday. Analysts are looking for $0.48 in earnings per share (EPS) and $13.57 billion in revenue. Shares closed the week at $21.91, with a consensus price target of $25.76 and a 52-week trading range of $17.10 to $24.75.

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Salesforce.com Inc. (NYSE: CRM) is expected to report its fiscal first-quarter results on Tuesday. The analysts’ consensus forecast is EPS of $0.46 on $2.94 billion in revenue. Shares were changing hands at $127.96 as last week came to a close. The consensus price target is $139.22, and the stock has a 52-week range of $83.55 to $131.00.

Michael Kors Holdings Ltd. (NYSE: KORS) will share its latest quarterly earnings on Wednesday. The consensus estimates call for $0.60 in EPS and $1.15 billion in revenue. Shares ended last week at $68.64, in a 52-week range of $32.38 to $70.00. The consensus analyst target is $74.08.

American Eagle Outfitters Inc. (NYSE: AEO) is poised to release its most recent quarterly results on Thursday. The consensus forecast calls for $0.22 in EPS and $805.17 million in revenue. Shares traded on Friday’s close at $22.97. The consensus price target is $21.28, and the 52-week range is $10.23 to $23.23.

Costco Wholesale Corp. (NASDAQ: COST) will report its most recent quarterly results on Thursday. The consensus estimates call for $1.69 in EPS and $31.84 billion in revenue. Shares were last seen trading at $198.36, in a 52-week range of $150.00 to $201.77. The consensus price target is $211.48.

Dollar General Corp.’s (NYSE: DG) fiscal first-quarter report is scheduled for Thursday. The consensus forecast is for $1.40 in EPS on $6.2 billion in revenue. Shares closed at $96.62 apiece. The consensus price target is $108.66, and the 52-week range is $65.97 to $105.82.

Look for Dollar Tree Inc. (NASDAQ: DLTR) to release its most recent quarterly report early Thursday. The consensus forecast calls for $1.23 in EPS on $5.57 billion in revenue. Shares closed at $95.18 on Friday. The consensus target price is $111.88, and shares have changed hands between $65.63 and $116.65 in the past year.

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Lululemon Athletica Inc. (NASDAQ: LULU) is poised to post its most recent quarterly results Thursday. The consensus forecast sees $0.46 in EPS and $616.31 million in revenue. Shares closed at $106.18 apiece. The consensus price target is $94.14, and the 52-week range is $47.26 to $107.49.

Marvell Technology Group Ltd.’s (NASDAQ: MRVL) most recent quarterly release is anticipated late on Thursday. The consensus forecast calls for $0.31 in EPS on $602.01 million in revenue. Shares ended the week at $22.49. The consensus target price is $28.11, and the 52-week range is $14.87 to $25.18.

Watch for Ulta Beauty Inc.’s (NASDAQ: ULTA) fiscal first-quarter report on Thursday as well. The consensus forecast is $2.49 in EPS on $1.52 billion in revenue. Shares closed at $251.05. The consensus price target is $258.91, and shares have traded between $187.96 and $314.86 in the past 52 weeks.

And Abercrombie & Fitch Co. (NYSE: ANF) is expected to release its most recent quarterly report early Friday. The consensus forecast calls for a net loss of $0.77 per share on $696.65 million in revenue. Shares closed at $25.45 on Friday. The consensus target price is $22.54, and shares have changed hands between $8.81 and $29.20 in the past year.

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In 1980 the average CEO-to-worker pay ratio was 42:1. In 2017 the ratio was 361:1. Total CEO compensation averaged $13.94 million last year, compared to just $38,613 for the average production and non-supervisory worker.

We’ve all seen numbers like this so many times now that we barely even blink at a new set. There is, however, new research that may partly explain why this gap has gotten so wide.

The CEO-to-worker pay data were reported Wednesday morning by the AFL-CIO in an update to the union’s Executive Paywatch database and website. The data were compiled from disclosures by companies of the ratio of CEO pay to the median worker’s pay required for the first time last year in federal financial filings.

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New research by Harvard Ph.D. candidate Nathan Wilmers, published Wednesday by the Washington Center for Equitable Growth, indicates that increased pressure from large corporate buyers suppresses wages for the workers in the buyer’s network of suppliers. Thus, large corporate buyers like Boeing and Walmart exercise outsized influence on the wages of their suppliers’ workers. Wilmers writes:

[B]ig corporate buyers are able to demand lower prices for the goods and services they are buying, and suppliers and contractors must sell at lower prices and try to cut costs. Likewise, companies increasingly outsource noncore functions, including food service, janitorial, and security jobs, a phenomenon known as the fissured workplace. The result is that more and more workers are employed by intermediate employers, which in turn rely on sales to outside corporate buyers.

That’s not particularly startling, but it is where the story begins to get more interesting. Wilmers proposes three reasons to explain what’s happening: larger buyers can pressure suppliers to accept lower profits; outside buyers enjoy a social distance from their suppliers’ workers, allowing the buyers “to ignore the fairness norms and social pressure that directly employed workers can use to increase their pay”; and, finally, the benefits of labor cost-cutting are concentrated among one or a small number of buyers.

Wilmers admits it’s hard to test these proposed reasons, but using publicly reported data from companies that must name customers responsible for 10% or more of annual revenue and combining that with wages at publicly traded supplier companies he was able to calculate that “a 10 percent increase in revenue reliance on dominant buyers is associated with suppliers’ wages declining by 1.2 percent.” Wilmers continues:

This pattern holds even conditional on controls for firm-level bargaining, productivity changes, and other market determinants of workers’ wages. The longer the buyer-supplier relations last, the more wages fall—consistent with the social distance between outside buyers and suppliers’ workers blunting wage norm effects. I also find that mergers among buyers reduce suppliers’ wages, suggesting it is not “unobserved supplier selection” (such as changes in business strategies by suppliers) that drives wage effects, but rather power exercised by dominant buyers. Indeed, the negative wage effects of reliance on large buyers have been intensifying over time.

When CEOs rhapsodically proclaim that their latest merger will create synergies that save X billions of dollars and boost shareholder returns by Y billions, it might be well to remember the human cost of those synergies.

It is also worth remembering that CEOs are rewarded for identifying and realizing those synergies. And those rewards are generous indeed. According to the AFL-CIO’s Executive Paywatch data, the widest difference between CEO pay and that of the average worker was posted by Weight Watchers International Inc. (NYSE: WTW), where CEO Mindy Grossman was paid 5,908 times the average worker’s pay. Mattel Inc. (NASDAQ: MAT) CEO Margaret Georgiadis was paid 4,987 times what the average Mattel worker was paid. Fran Horowitz, CEO of Abercrombie & Fitch Inc. (NYSE: ANF), was paid 3,431 times what the average worker made last year.

Visit the AFL-CIO website for more data and details on CEO pay. The Nathan Wilmers article is available at the Washington Center for Equitable Growth.

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Stocks have been mixed all week, but Wednesday’s indications were for the major indices to open up about 0.3%. The bull market is now over nine years old, and investors are trying to weigh the recent volatility to decide how they want to be positioned for the year ahead and beyond. One trend that has kept working is for investors to buy all the big pullbacks.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for investors and traders alike. Some 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 Wednesday, March 14, 2018.

Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Buy and with a $25 target price (versus a $22.15 prior close) at Argus. The independent research firm had just raised its rating to Buy in January.

Altria Group Inc. (NYSE: MO) was reiterated as Buy with a $79 price target (versus a $66.13 close) at Argus. The firm sees Altria continuing to diversify away from tobacco risks with non-tobacco efforts, and it raised 2018 earnings to $4.00 from $3.59 per share and set a $4.38 per share target for 2019.

AMC Networks Inc. (NASDAQ: AMCX) was started as Sector Perform with a $57 price target (versus a $51.46 close) at RBC Capital Markets.

Bluebird Bio Inc. (NASDAQ: BLUE) was started with a Neutral rating and given a $220 fair value estimate (versus a $223.35 close) at Janney.

Century Aluminum Co. (NASDAQ: CENX) was raised to Overweight from Neutral with a $29 price target (versus a $21.58 close) at JPMorgan. This is after Cowen and BMO upgraded it earlier this week, and shares closed up 3.7% on Tuesday and up 3.3% on Monday.

Commercial Metals Co. (NYSE: CMC) was downgraded to Neutral from Buy with a $28 price objective (versus a $25.36 close) at Merrill Lynch.

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Cornerstone OnDemand Inc. (NASDAQ: CSOD) was reiterated as Outperform and the price target was raised to $51 from $49 (versus a $44.54 close) at Credit Suisse.

DSW Inc. (NYSE: DSW) was maintained as Neutral but the price target was raised to $22 from $20 (versus a $21.70 close) at B. Riley. Wedbush maintained its Neutral rating and $21 price target.

Epizyme Inc. (NASDAQ: EPZM) was maintained as Outperform but the price target was cut to $25 from $26 at Oppenheimer. Wedbush maintained its Outperform rating and raised its target to $24 from $21 after incorporating its mesothelioma opportunity into the model. Shares closed at $19.15 the prior day.

Ford Motor Co. (NYSE: F) was raised to Overweight from Underweight with a $15 price target (versus a $10.78 close) at Morgan Stanley.

Oceaneering International Inc. (NYSE: OII) was raised to Hold from Underperform with a $19 price target (versus an $18.82 close) at Jefferies.

PTC Inc. (NASDAQ: PTC) was reiterated as Outperform with a $91 price target (versus a $79.48 close) at Wedbush Securities.

Quest Diagnostics Inc. (NYSE: DGX) was raised to Equal Weight from Underweight with a $103 price target (versus a $104.99 close) at Morgan Stanley.

Sabra Healthcare REIT (NYSE: SBRA) was raised to Buy from Neutral with a $24 price target (versus a $17.95 close) at Mizuho.

SunTrust Banks Inc. (NYSE: STI) was maintained as Neutral but the price target was raised to $73 from $71 at Credit Suisse.

Sunoco L.P. (NYSE: SUN) was downgraded to Sell from Neutral and the price target was cut to $28 from $33 (versus a $28.02 close) at Goldman Sachs.

Ultimate Software Group Inc. (NASDAQ: ULTI) was downgraded to Neutral with a $255 price target (versus a $248.78 close) at Wedbush. The firm feels that further EV/FCF multiple expansion looks unlikely at this point.

United Natural Foods Inc. (NASDAQ: UNFI) was reiterated as Buy with a $56 price target (versus a $45.66 close) at Argus, which sees the recent weakness as a buying opportunity and noted that the company is driving growth through accretive acquisitions last year and into this year.

Vornado Realty Trust (NYSE: VNO) was maintained as Buy but the price target was lowered to $76 from $83 (versus a $68.22 close) at Argus.

Tuesday’s top analyst calls included AMD, Altice USA, Century Aluminum, Cerner, Chipotle Mexican Grill, Cigna, General Electric, Micron Technology, Noble Energy and many more.

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Abercrombie & Fitch Co. (NYSE: ANF) released its most recent quarterly results before the markets opened on Wednesday. The company said that it had $1.38 in earnings per share (EPS) on $1.19 billion in revenue, compared with consensus estimates that called for $1.10 in EPS on revenue of $1.16 billion. In the fiscal fourth quarter of last year, the retailer said it had EPS of $0.75 and $1.04 billion in revenue.

During the quarter, comparable sales increased a whopping 9%. By brand, net sales increased 19% to $709.2 million for Hollister and increased 9% to $484.0 million for Abercrombie from last year.

Also direct-to-consumer net sales grew to approximately 34% of total company net sales, compared to roughly 31% last year.

In terms of the outlook for the 2018 full year, the company expects to see comparable sales as well as net sales up in the low single digits. The Wall Street consensus estimates for the fiscal first quarter are a net loss of $0.63 per share and $688.5 million in revenue.

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On the books, Abercrombie cash and cash equivalents totaled $675.6 million at the end of the quarter, up from $547.2 million at the end of the previous year.

CEO Fran Horowitz commented:

Overall, 2017 was a year of significant progress. We achieved several important milestones, including Hollister growing to $2 billion in sales, Abercrombie returning to positive comparable sales for the fourth quarter and record digital sales across all brands. We continue to improve the customer experience with ongoing investments in loyalty programs, stores, direct-to-consumer and omnichannel capabilities.

She added:

We have a strong balance sheet, proven cost management discipline and a clear plan for building on the foundations we laid in 2017. In 2018, we will continue to focus our attention and our investments on engaging our customers with compelling assortments and new experiences, in clearly defined brand voices, positioning our business for sustainable long-term growth.

Shares of Abercrombie & Fitch were up about 8% at $23.03 early Wednesday, with a consensus analyst price target of $19.85 and a new 52-week range of $8.81 to $23.65.

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Abercrombie & Fitch Co. (NYSE: ANF) is set to report its fiscal fourth-quarter financial results before the markets open on Wednesday. Thomson Reuters has consensus estimates of $1.10 in earnings per share (EPS) on $1.16 billion in revenue. In the same period of last year, the retailer said it had EPS of $0.75 and $1.04 billion in revenue.

Back in January, Abercrombie gave an update on its holiday quarter, as well as announcing changes to board members.

At that time, the company said that it expects to see comparable sales up high-single digits, compared to the previous outlook of up low-single digits. Net sales are expected to be up low-teens, compared to the previous outlook of up mid- to high-single digits.

Also, the company was assessing the impact of the Tax Cuts and Jobs Act of 2017 but expects to recognize a significant income tax charge in the fourth quarter, primarily related to the one-time deemed repatriation tax on accumulated foreign earnings.

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Abercrombie also announced that Arthur C. Martinez would step down as executive chair of its board of directors at the end of this fiscal year (February 3, 2018). This is in connection with his plans to retire as a director and not stand for reelection at the 2018 annual meeting of shareholders in June.

Terry L. Burman, lead independent director and chair of the Nominating and Board Governance Committee was to assume the role of nonexecutive chair at that time.

Excluding Tuesday’s move, Abercrombie had outperformed the broad markets over the past year, with its stock up 69%. Year to date, the stock is up 19%.

Prior to the release of the earnings report, a few analysts weighed in on the stock:

• B. Riley has a Neutral rating and a $22 price target.
• Merrill Lynch has a Sell rating with a $16 price objective.
• RBC has a Hold rating with a $24 price target.
• Jefferies has a Hold rating.
• Baird also has a Hold rating.
• BMO has a Hold rating with a $22 price target.
• Telsey Advisory has a Market Perform rating and a $24 target.
• Argus has a Buy rating with a $25 price target.

Shares of Abercrombie were last seen up 2% at $21.12 on Tuesday, with a consensus analyst price target of $19.85 and a 52-week range of $8.81 to $23.53.

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In the past week, markets took another plunge, partially as the result of a sharp increase in volatility. Perhaps the main driver last Thursday was the steel and aluminum tariffs that the president announced. All three major indices pulled back an average of 2% last week.

Even though markets may have taken a step back, solid fundamentals from company earnings can push these markets in the right direction. Although the busiest weeks of the earnings season have come and gone, there are still plenty more big names on deck this week.

24/7 Wall St. has put together a preview of some of the top companies reporting their latest results in the coming week. We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history for these companies ahead of the report.

Target Corp.’s (NYSE: TGT) fiscal fourth-quarter report is scheduled for Tuesday. The consensus estimates are calling for $1.38 in earnings per share (EPS) on $22.53 billion in revenue. The shares traded on Friday’s close at $75.15. The consensus price target is $76.36, and the 52-week trading range is $48.56 to $78.70.

H&R Block Inc. (NYSE: HRB) is set to release its most recent quarterly results on Tuesday. The consensus forecast calls for a net loss of $1.29 per share and $458.75 million in revenue. Shares closed on Friday at $24.69. The consensus price target is $28.33, and the 52-week range is $20.50 to $31.80.

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Urban Outfitters Inc. (NASDAQ: URBN) also will report its most recent quarterly results on Tuesday. The consensus estimates call for $0.63 in EPS and $1.08 billion in revenue. Shares were last seen trading at $36.48, in a 52-week range of $16.19 to $38.06. The consensus price target is $34.62.

Abercrombie & Fitch Co. (NYSE: ANF) fiscal fourth-quarter results are scheduled for Wednesday. The consensus forecast is $1.10 in EPS on $1.16 billion in revenue. Shares closed most recently at $20.68. The consensus price target is $19.85, and the 52-week range is $8.81 to $23.53.

Costco Wholesale Corp. (NASDAQ: COST) is scheduled to release its most recent quarterly report late Wednesday. The consensus forecast calls for $1.46 in EPS on $32.69 billion in revenue. Shares closed Friday at $189.33. The consensus target price is $209.20, and shares have changed hands between $150.00 and $199.88 in the past year.

Dollar Tree Inc. (NASDAQ: DLTR) is expected to post its most recent quarterly results Wednesday as well. The consensus forecast is $1.90 in EPS and $6.39 billion in revenue. Shares ended the week at $104.41 apiece. The consensus price target is $119.38, and the 52-week range is $65.63 to $116.65.

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Vivint Solar Inc. (NYSE: VSLR) will report its most recent quarterly results on Wednesday. The consensus estimates call for a net loss of $0.32 per share and $66.88 million in revenue. Shares closed at $3.00 on Friday, in a 52-week range of $2.65 to $6.09. The consensus price target is $5.40.

American Eagle Outfitters Inc. (NYSE: AEO) also is scheduled to release its most recent quarterly results Thursday. The consensus forecast calls for $0.44 in EPS and $1.21 billion in revenue. Shares closed at $20.27. The consensus price target is $19.31, and the 52-week range is $10.23 to $20.46.

Look for the Kroger Co. (NYSE: KR) fiscal fourth-quarter report on Thursday. The consensus forecast is $0.63 in EPS on $30.79 billion in revenue. Shares last traded at $18.68. The consensus price target is $29.18, and shares have traded between $19.69 and $31.45 in the past 52 weeks.

Marvell Technology Group Ltd. (NASDAQ: MRVL) is expected to post its most recent quarterly results Thursday as well. The consensus estimates are $0.31 in EPS and $610.99 million in revenue. Shares ended the week at $23.42 apiece. The consensus price target is $27.26, and the 52-week range is $14.58 to $24.22.

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Abercrombie & Fitch Co. (NYSE: ANF) shares made a handy gain to kick off the week after the company issued a business update. Besides shuffling some board members, this retailer reported an updated outlook for its fiscal fourth quarter. After hearing this announcement, we can expect that analysts will soon have something to say about the company’s outlook as well.

For this quarter, the company expects to see comparable sales up high-single digits, compared to the previous outlook of up low-single digits. Net sales are expected to be up low-teens, compared to the previous outlook of up mid- to high-single digits.

The consensus estimates from Thomson Reuters call for $0.84 in earnings per share (EPS) and $1.1 billion in revenue for the fiscal fourth quarter. In the same period of last year, the company reported EPS of $0.75 and $1.04 billion in revenue.

Also, the company is currently assessing the impact of the Tax Cuts and Jobs Act of 2017 but expects to recognize a significant income tax charge in the fourth quarter primarily related to the one-time deemed repatriation tax on accumulated foreign earnings.

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Apart from this, Abercrombie announced that Arthur C. Martinez will step down as executive chair of its board of directors at the end of this fiscal year (February 3, 2018). This is in connection with his plans to retire as a director and not stand for reelection at the 2018 annual meeting of shareholders in June.

At that time, Terry L. Burman, lead independent director and chair of the Nominating and Board Governance Committee will assume the role of non-executive chair.

Chief Executive Officer Fran Horowitz commented on the updated numbers:

We are pleased by our performance across all brands and channels during the holiday season, with continued strength at Hollister, and the Abercrombie brand on track to deliver positive comparable sales for the quarter. Our customers remain at the center of all we do, and that singular focus has continued to drive both our brands forward.

Shares of Abercrombie were up about 10% at $21.96 Monday morning, with a consensus analyst price target of $14.62 and a 52-week range of $8.81 to $22.03.

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Some ailing companies never manage to turn around for shareholders. Others manage to stage miraculous turnarounds. Abercrombie & Fitch Co. (NYSE: ANF) falls somewhere in the middle, but after it hit 52-week highs, one analyst believes that this turnaround has a lot of room to run.

Abercrombie was among the top analyst upgrades and downgrades on Friday, January 19, 2018, with the independent research firm Argus raising its Hold rating to Buy. What stood out here was that Argus matched the existing street-high price target of $25 in this call. While Argus is not part of the sell-side research tracked by Thomson Reuters, this price target is more than $10 higher than the consensus analyst target price of $14.62.

Note that Abercrombie shares were already much higher than most analyst targets. This implies, as we have seen with so many other companies, that analysts may have to handily raise their expectations and targets for Abercrombie.

Before focusing on just the bullish sides of the call, it is important to understand that Abercrombie has not released any guidance on December sales after the holiday season. That means that the earnings report still being six weeks or so out may help or hurt the thesis behind the Argus bullish call. When the company posted earnings last November, its guidance for the quarter was for comparable sales to be up in the low single digits and net sales to be up in the mid-to-high single digits.

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According to the Argus report, Abercrombie shares had been on a five-year slide, and the company had fallen out of favor with its former core market. A driving force for the turnaround is that a new CEO is implementing a turnaround plan and beginning to see positive results. This was highlighted as being after two positive earnings surprises in a row, and also that Abercrombie is becoming more transparent with investors.

Another driver here is that Argus sees Abercrombie’s valuations as attractive compared to its peer group. Also mentioned as a support tool was the 4.2% dividend yield.

A new chief marketing officer and the company launching a new marketing campaign were also touted as being around the company’s historic association with outdoor adventure and exploration. The Argus report said:

We note that young consumers’ perceptions of the Abercrombie & Fitch brand have also improved significantly, according to a YouGov BrandIndex survey, which should help to boost sales and market share over time.

And Abercrombie shares were even seen as positive from its stock chart perspective. Its shares were represented as having been in a long-term bearish trend of lower highs and lower lows that dated all the way back to May of 2013. That has now changed, after a double-bottom in the $8 to $9 range has acted as a floor and as the recent stock price trends have been bullish.

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On the fundamentals and valuations, Argus said:

Assuming a still below-industry-average price/sales ratio of 0.6, we arrive at an implied value of $30 per share, which we further discount to a target price of $25. We note that the turnaround at this small-cap company carries risks, and believe that the shares are more suitable for investors with higher risk tolerance.

Abercrombie is also said to be continuing to refine its store portfolio, which included 700 U.S. stores and 189 overseas locations at the end of the most recent quarter. The current plan is to close about 60 stores in the United States through natural lease expirations. The company also recently opened stores in Los Angeles and Tianjin, China, and year to date it has remodeled 12 Hollister stores and downsized four A&F locations with a smaller footprint intended to boost customer engagement. Argus noted that it is already showing increased traffic and improved productivity.

While this upgrade from Argus is a tie for the most aggressive call among Wall Street analysts covering the stock, the reality is that analysts in general have been removing or limiting their old negative expectations that had persisted for years. Of the analysts covered by Thomson Reuters, there were two Buy/Outperform ratings, nine Hold/Neutral ratings and five5 Sell/Underperform ratings. And the consensus target price has risen. At $14.62 on last look, that is up from $13.92 just 30 days earlier, from $12.08 just 60 days ago and from $11.42 90 days ago.

Thomson Reuters shows that the sales decline is expected to stop. Annual sales of $3.74 billion in January 2015 fell to $3.32 billion a year ago, and these are now expected to be $3.39 billion for the current year. Next year’s sales are expected to be $3.35 billion.

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Being in the apparel retail business can be rather tough. If your company misses the mark with consumers for more than a quarter or two, the brand loyalty can die and some investors can feel like all the company’s former growth and glory are simply no longer relevant.

If Argus is right, then Abercrombie may still offer much upside for investors. Many analysts have a lot of catching up to if that is the case.

Abercrombie shares were handily higher on Friday, rising 4.3% to $19.77 in midday trading. The stock hit a new 52-week high of $19.86, and its 52-week low is all the way down at $8.81. This was a $31.50 stock back in March of 2016, and it was a $50 stock in May of 2013 and an $80 stock at its peak back in 2007.

Stay tuned.

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Stocks were mixed on Friday, but the almost nine-year raging bull market has hit new highs this week. The Dow Jones Industrial Average went over 26,100 and had the fastest 1,000 point move on record in 2018, and the trend of buying stocks on any dips remains the winning move. Investors are now deciding how to position their portfolios for 2018 and beyond, and they are looking for new investment ideas.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for investors and traders alike. Some of the analyst reports 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 these daily analyst calls. Consensus analyst price targets mentioned 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, January 19, 2018.

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Abercrombie & Fitch Co. (NYSE: ANF) was raised to Buy from Hold and was given a $25 price target at Argus. The independent research firm sees its new CEO implementing a turnaround plan and beginning to see positive results, after delivering two upside earnings surprises and becoming more transparent with investors. Abercrombie & Fitch closed at $18.95 on Thursday, in a 52-week range of $8.81 to $19.60 and with a consensus analyst target price of $14.62.

Altria Group Inc. (NYSE: MO) was raised to Buy from Hold with an $81 price target (versus a $70.04 prior close) at Jefferies. Altria has a 52-week range of $60.01 to $77.79 and a consensus price target of $75.92.

American Express Co. (NYSE: AXP) was indicated down 2.8% at $97.05 after earnings, versus a 52-week range of $75.39 to $102.39. Amex has seen multiple analyst target price changes after earnings: Barclays to $112 from $119, Bernstein to $120 from $116, KBW to $119 from $116 and RBC to $81 from $78.

Appian Corp. (NASDAQ: APPN) was down 5.9% at $36.15 on Thursday after Goldman Sachs cut the rating to Sell from Neutral, and on Friday its shares were indicated down another 3.5% at $34.90 on Thursday after William Blair downgraded Appian to Market Perform from Outperform. Appian has a 52-week range of $14.60 to $43.26. Other downgrades so far in 2018 were from Morgan Stanley, SunTrust Robinson Humphrey and Barclays.

Apple Inc. (NASDAQ: AAPL) was maintained as Neutral at Mizuho, but the price target was raised to $175 from $160 in the call. Apple shares hit an all-time high of $180.10 on Thursday, and its shares closed up 0.1% at $179.26. Apple has a 52-week range of $119.50 to $180.10 and the prior consensus target price was $188.46.

Bank of New York Mellon Corp. (NYSE: BK) was raised to Overweight from Equal Weight at Morgan Stanley, and the bank was also downgraded to Underweight from Neutral at JPMorgan. Its shares closed down 4.4% at $55.35 on Thursday, and it has a 52-week range of $43.85 to $58.99 and a consensus price target of $59.61.

Caterpillar Inc. (NYSE: CAT) has seen numerous analyst price target hikes in 2018, and Credit Suisse has joined in with a reiteration of its Outperform rating and raising its target to $192 from $155. Caterpillar has a 52-week range of $90.34 to $173.24, and its shares closed most recently at $168.83.

Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Market Perform from Underperform at Raymond James. The stock closed at $337.53 has a 52-week range of $263.00 to $499.00.

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Cummins Inc. (NYSE: CMI) was raised to Buy from Neutral with a $215 price target (versus a $183.72 close) at Merrill Lynch.

International Business Machines Corp. (NYSE: IBM) was last seen down 3.3% at $153.50 after beating revenue expectations and despite breaking a more than five year streak of negative year-on-year revenue trends. Wedbush maintained its Neutral rating and $18 price target, calling the report a low-quality beat where its legacy IT service exposure is negative impacting its margins.

Kraft Heinz Co. (NASDAQ: KHC) was started as Buy with a $95 price target (versus a $79.27 close) at Jefferies. Kraft Heinz has a 52-week range of $75.21 to $97.77 and a consensus target price of $90.29. Its shares were indicated up 0.4% at $79.60 on Friday after the call.

La Quinta Holdings Inc. (NYSE: LQ) was raised to Neutral from Sell with a $19 price target (versus a $20.18 close) at Goldman Sachs.

Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Outperform and was maintained as a Top Pick at Credit Suisse, following the company’s Investor Day presentations.

Netflix Inc. (NASDAQ: NFLX) was maintained as Underperform with a $93 price target (versus a $220.33 close) at Wedbush Securities. The firm maintains that the company’s content library has grown at a steep pace, with a clear disconnect between consumption and amortization. Wedbush also noted that Amazon, Apple, Facebook and others should drive up costs as they bid against Netflix and other media companies.

Nike Inc. (NYSE: NKE) was raised to Outperform from Neutral with a $74 price target (versus a $64.11 close) at Wedbush. The upgrade is based on confidence for an inflection in margins and a return to growth in North America in 2019, with guidance suggesting the building blocks should become more evident during the fourth quarter ending in May.

Philip Morris International Inc. (NYSE: PM) was raised to Buy from Hold with a $124 price target (versus a $105.07 close) at Jefferies.

PLx Pharma Inc. (NASDAQ: PLXP) was started as Buy with a $14 fair value estimate (versus a $6.10 close) at Janney. The firm noted that the company is creating a branded OTC health care franchise with a better aspirin for use as an antiplatelet agent.

Sirius XM Holdings Inc. (NASDAQ: SIRI) was raised to Buy from Hold with a $6.50 price target (versus a $5.47 close) at Deutsche Bank, and the underlying Liberty Media Sirius XM (NASDAQ: LSXMA) was also raised to Buy from Hold at the same time. Sirius XM was indicated up 2.2% at $5.59 on Friday morning, in a 52-week range of $4.57 to $5.89.

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Sunoco L.P. (NYSE: SUN) was started as Neutral with a $33 fair value estimate (versus a $31.43 close) at Janney.

Switch Inc. (NYSE: SWCH) was started as Underperform with a $15 price target (versus a $17.02 close) at Cowen. Switch closed down 1.45% on Thursday and down 1.65% at $16.74 on Friday. The colocation and hosting company has a 52-week range of $15.77 to $24.90 and a consensus target price of $20.75.

Thursday’s top analyst calls were in CarMax, Caterpillar, Chipotle Mexican Grill, Comcast, First Solar, Juno Therapeutics, UnitedHealth, Walmart and about two dozen more companies.

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Foot Locker Inc.’s (NYSE: FL) shares rose 28% after it announced earnings, which was a partial counterbalance to a string of poor financial data from other retailers. Some argue that Foot Locker benefits because of its niche brick-and-mortar position. Others argue it is simply well run.

Foot Locker’s shares are still well short of their 52-week high, which means a great deal of skepticism about its future remains. The rally in its shares took them to $41, against a 52-week high of $79.43. At least it is not trading at or near its 52-week low, which is the case for retailers dumped either because their same-store sales in the third quarter were weak or are expected to be in the critical holiday quarter.

Foot Locker’s numbers were better than expected. The company posted:

Net income for the Company’s third quarter ended October 28, 2017 was $102 million, or $0.81 per share, compared with net income of $157 million, or $1.17 per share in the same period of 2016.

Third quarter comparable-store sales decreased 3.7 percent. Total sales decreased 0.8 percent, to $1,870 million this quarter, compared with sales of $1,886 million for the corresponding prior-year period

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In most contexts these numbers would be counted as poor. In the world of battered retail stocks, the fact that Foot Locker held the top line was impressive.

Foot Locker was not entirely alone when it comes to a better-than-expected quarter. Abercrombie & Fitch Co.’s (NYSE: ANF) numbers also were better than expected, and its shares rose 25% to $15.55, which is close to their 52-week high.

Foot Locker has several challenges that it has held at bay for the time being. Companies like Nike Inc. (NYSE: NKE) sell their products online, at a large number of retailers and on Amazon. The number of ways people can buy Nike apparel should pressure Foot Locker’s margins as it tries to compete on price. Management, however, appears to have stocked its stores with the right mix of products at the right price points. Otherwise, net income of $100 million would not have been possible.

Foot Locker has proven, at least for now, that a retailer does not have to be decimated by competition, either online or from other stores. Management gets at least one quarter to bask in the glow of results most retailers should envy.

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Abercrombie & Fitch Co. (NYSE: ANF) released its most recent quarterly results before the markets opened on Friday. While the retail sector has been under assault by Amazon, most companies have been fairly muted in their performance. But it seems like Abercrombie & Fitch is breaking out, at least for now.

The company posted $0.30 in earnings per share (EPS) and $859.1 million in revenue, compared with a consensus forecast from Thomson Reuters of $0.22 in EPS on revenue of $818.9 million. In the fiscal third quarter of last year, the retailer posted EPS of $0.02 and $821.73 million in revenue.

During the quarter, comparable sales increased 4%, compared with a decrease of 1% in the second quarter. Comparable sales increased 8% in the Hollister brand but fell 2% in the Abercrombie brand.

In terms of the outlook for the fiscal fourth quarter, the company expects to see comparable sales to be up low-single digits, and net sales to be up mid- to high-single digits. There are consensus estimates that are calling for $0.80 in EPS and $1.06 billion in revenue for the coming quarter.

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On the books, Abercrombie cash and cash equivalents totaled $459.3 million at the end of the quarter, compared with $469.7 million last year.

CEO Fran Horowitz commented:

We are pleased by the clear progress across all brands, delivering another quarter of sequential comparable sales improvement, and a return to positive comparable sales. This sales performance in combination with disciplined expense management drove profit growth, despite the promotional environment. Our customers remain at the center of all we do, and that singular focus continues to drive both our brands forward, with effective engagement across all channels driving positive overall traffic and conversion trends. Hollister delivered another quarter of sales growth across all channels and geographies, and Abercrombie is beginning to show signs of stabilization.

Shares of Abercrombie were last seen up about 27% at $15.94. The consensus analyst price target is just $11.31 for now, and a 52-week trading range is $8.81 to $16.36.

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Stocks were indicated to open higher on Thursday. The major stock indexes remain close to all-time highs and the trend that has prevailed for more than five years is that investors have managed to keep finding new reasons to buy stocks after every sell-off. Many investors are also hunting for new investing ideas and trading to generate gains and income.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some of these top analyst reports cover stocks to buy, while other analyst calls cover stocks to sell or to avoid.

Additional color and commentary has been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Thursday, August 31, 2017.

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Abercrombie & Fitch Co. (NYSE: ANF) was raised to Sector Perform from Underperform with a $14 price target (versus a $12.48 prior close) at RBC Capital Markets. Abercrombie has a 52-week trading range of $8.81 to $17.82 and had a consensus analyst target price of $11.50.

Arch Coal Inc. (NYSE: ARCH) was raised to Overweight from Neutral with a $90 price target (versus a $76.55 close) at JPMorgan. Shares were indicated up 1.5% at $77.71 after this call. Arch Coal has a consensus target price of $97.57 and its post-restructuring high is $86.47.

Baker Hughes, GE Company (NYSE: BHGE) was started with an Overweight rating and assigned a $41 price target (versus a $33.51 close) at Barclays. Baker Hughes has a consensus target price of about $50.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was started with a Buy rating and assigned a $98 price target (versus an $87.65 close) at Citigroup. BioMarin has a consensus target price of $111.75 and a 52-week range of $78.42 to $101.27.

Gilead Sciences Inc. (NASDAQ: GILD) was raised to Buy from Hold with a $100 price target at Argus. It also was started with an Outperform rating at William Blair. The 52-week range is $63.76 to $82.07, and the consensus target price was recently seen at $80.11.

Hasbro Inc. (NASDAQ: HAS) was started with an Overweight rating and was given a $112 price target (versus a $95.28 close) at KeyBanc Capital Markets. Hasbro has a consensus target price of $110.64 and a 52-week range of $76.14 to $116.20.

Snap Inc. (NYSE: SNAP) was started with a Neutral rating and assigned a $12 price target (versus a $15.02 close) at Wedbush Securities. Snap has a consensus target price of $14.88 and a post-IPO range of $11.28 to $29.44.

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Other key analyst calls were seen in the following:

Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) was raised to Outperform from Underperform at CLSA.

FMC Corp. (NYSE: FMC) was raised to Buy from Underperform with a $103 price objective (versus an $84.48 close) at Merrill Lynch.

Huntington Bancshares Inc. (NASDAQ: HBAN) was started as Market Perform with a $15 price target at JMP Securities.

Iridium Communications Inc. (NASDAQ: IRDM) was started with a Buy rating and assigned a $14 price target at Drexel Hamilton.

Momo Inc. (NASDAQ: MOMO) was started with a Buy rating and assigned a $56 price target (versus a $36.06 close) at Goldman Sachs. It was up 4.7% more at $37.78 a share on Thursday.

Mondelez International Inc. (NASDAQ: MDLZ) was maintained as Outperform and the price target was lowered to $46 from $50 at Credit Suisse. The firm’s lower target reflects a lower take-out probability.

Motorola Solutions Inc. (NYSE: MSI) was reiterated as Buy with a $105 price target (versus an $87.66 close) at Jefferies.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) was started with a Buy rating and assigned a $22 price target (versus a $15.80 close) at Societe Generale.

STORE Capital Corp. (NYSE: STOR) was raised to Buy from Neutral with a $27 price target (versus a $25.08 close) at Mizuho.

YY Inc. (NASDAQ: YY) was started with a Buy rating and assigned a $101 price target (versus a $69.52 close) at Goldman Sachs.

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KeyBanc Capital Markets started many leisure and entertainment stocks with an Overweight rating: Acushnet Holdings Corp. (NYSE: GOLF), Brunswick Corp. (NYSE: BC), Callaway Golf Co. (NYSE: ELY), Camping World Holdings Inc. (NYSE: CWH), Cedar Fair L.P. (NYSE: FUN), Six Flags Entertainment Corp. (NYSE: SIX) and Vail Resorts Inc. (NYSE: MTN).

Wednesday’s top analyst upgrades and downgrades were in shares of Blackstone, Ciena, Merck, Tempur Sealy, Universal Display and many more companies.

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Stocks were indicated to open higher on Friday after a light sell-off on Thursday. It is important to consider that the Dow and S&P 500 remain within striking distance of all-time highs. It is also important to keep in mind that more than half of the eight-year bull market has been dominated by the trend whereby investors keep finding new reasons to buy stocks after every sell-off. Many investors are also hunting for new investing and trading ideas to generate gains and income.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy, but some calls cover stocks to sell or to avoid.

Additional color and commentary has been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Friday, August 25, 2017.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Buy from Neutral with a $16 price target at Citigroup. The shares closed up 17% at $11.25 on Thursday and were indicated up another 3.2% at $11.61 on Friday, in a 52-week trading range of $8.81 to $23.29. The prior consensus analyst target price was $11.36.

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Dollar Tree Inc. (NASDAQ: DLTR) was up 5.6% at $78.50 on Thursday, and its stock was up 1.9% at $80.00 on Friday. Merrill Lynch reinstated it as Buy with a $91 price objective, noting that the Dollar Tree and Family Dollar momentum are both improving. Raymond James raised its rating to Strong Buy from Market Perform.

Domino’s Pizza, Inc. (NYSE: DPZ) was downgraded to Hold from Buy at Argus, with the firm noting that there is slowing international revenue as well as the potential for a comparable slowdown in domestic sales. Shares closed at $183.30, and the stock has a 52-week range of $145.00 to $221.58.

GoDaddy Inc. (NYSE: GDDY) was started as Buy with a $55 price target (versus a $42.35 prior close) at Jefferies. The report called GoDaddy an underappreciated midcap story providing investors a balanced profile of consistent low to mid-teens revenue growth, margin expansion and significant cash flow generation.

Intuit Inc. (NASDAQ: INTU) was started as Buy with a $157 price target (versus a $135.52 close) at Jefferies. The recent metrics are starting to show an acceleration in user adoption. Intuit has a 52-week range of $103.22 to $143.81, and it had a consensus target price of $133.88.

Starbucks Corp. (NASDAQ: SBUX) was raised to Outperform from Neutral with a $60 price target (versus a $53.94 close) at Wedbush Securities. While the firm’s checks indicate U.S. comparable sales are tracking in line with expectations, the potential contribution to growth from the China joint venture acquisition is a partial offset to slower same-store sales in the Americas.

Twitter Inc. (NYSE: TWTR) was downgraded to Hold from Buy at Jefferies, and the firm cut its price target to $16 from $20, with the firm noting that its monetization is slipping and that Facebook is the clear winner in social media. Twitter was last seen trading down 1.2% at $16.68, in a 52-week range of $14.12 to $25.25 and with a prior consensus target price of $15.91.

Ulta Beauty Inc. (NASDAQ: ULTA) was last seen down about 5% at $221.50 after an earnings beat but guidance was more or less in line to a tad short of estimates. The stock was downgraded to Market Perform from Outperform with a $235 price target at BMO Capital Markets. It was maintained as Buy at Jefferies, but the firm cut its price target to $300 from $350.

Wix.com Ltd (NASDAQ: WIX) was started as Buy with a $74 price target (versus $60.65 close) at Jefferies. The firm called Wix a standout premium-growth story, on pace to deliver 3 straight years of better than 40% annual revenue growth. It also noted that 2017 revenue is accelerating.

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Follow @Jonogg on Twitter to receive the daily analyst calls and other market research calls directly on your feed.

Other key analyst calls were seen in the following:

Autodesk Inc. (NASDAQ: ADSK) was last seen trading up 5.2% at $116.40 after its adjusted earnings beat expectations, above its prior high of $115.25. Autodesk was reiterated as Outperform with a $128 price target at Wedbush. Merrill Lynch maintained its Neutral rating, based on average revenue per user being of low quality despite the results looking good on the surface.

Beacon Roofing Supply Inc. (NASDAQ: BECN) was raised to Overweight from Sector Weight with a $52 price target (versus a $43.54 close) at KeyBanc Capital Markets. Northcoast Research raised its rating to Buy from Neutral with a $53 price target.

China Life Insurance Co. Ltd. (NYSE: LFC) was raised to Buy from Neutral at Merrill Lynch.

Dollar General Corp. (NYSE: DG) was reinstated as Buy with a $90 price objective (versus a $75.69 close) at Merrill Lynch.

Hormel Foods Corp. (NYSE: HRL) was downgraded to Neutral from Outperform and the price target was cut to $33 from $39 at Credit Suisse. The firm noted that volatility has reduced visibility, and it also removed Hormel from its U.S. Focus List.

MercadoLibre Inc. (NASDAQ: MELI) was raised to Buy from Hold with a $275 price target (versus a $243.62 close) at Stifel.

MINDBODY Inc. (NASDAQ: MB) was started with a Hold rating and assigned a $26 price target (versus a $23.10 close) at Jefferies.

PVH Corp. (NYSE: PVH) was reiterated as Outperform and the target price was raised to $149 from $136 at Credit Suisse.

Splunk Inc. (NASDAQ: SPLK) was raised to Positive from Neutral with a price target of $76 (versus a $60.28 close) at Susquehanna. Merrill Lynch reiterated its Buy rating with an $80 price objective. Splunk beat estimates and gave good guidance, and its shares were indicated up 10% at $66.39 ahead of Friday’s opening bell.

Stryker Corp. (NYSE: SYK) was raised to Hold from Underperform at Needham.

VMware Inc. (NYSE: VMW) was raised to Buy from Neutral with a $120 price objective at Merrill Lynch, with the firm noting that this was a sum-of-the-parts analysis based on both its mature and emerging segments.

Wayfair Inc. (NYSE: W) was raised to Buy from Hold with a $78 price target (versus a $67.19 close) at Stifel. Its shares were indicated up 1.5% at $68.18 on Friday.

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There are currently 12 big financial institutions in banking and insurance trading under book value after the recent financial sell-off.

Merrill Lynch has its top cheap dividend picks for the third quarter.

Thursday’s top analyst upgrades and downgrades included Chipotle Mexican Grill, Dick’s Sporting Goods, Gentex, HP, Lowe’s, Teva Pharmaceutical and many more.

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Abercrombie & Fitch Co. (NYSE: ANF) reported its fiscal second-quarter financial results before the markets opened on Thursday. The retailer said that it had a net loss of $0.16 per share on $779.3 million in revenue, compared with consensus estimates from Thomson Reuters that called for a net loss of $0.33 per share and revenue of $758.56 million. In the same period of last year, the company posted a net loss of $0.25 per share and $783.16 million in revenue.

Comparable store sales for the quarter fell by 1%, consisting of an increase of 5% in the Hollister segment and a decline of 7% in the Abercrombie segment.

In terms of the outlook for the full fiscal year, management expects to see comparable sales flat to up slightly in the second half of the year and gross profit rate down compared to last year’s rate of 61%. The consensus forecast for the year is a $0.30 per share net loss and $3.27 billion in revenue.

The company said its cash and cash equivalents totaled $421.9 million at the end of the quarter, down from $455.6 million last year.

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Fran Horowitz, CEO of Abercrombie & Fitch, commented:

We are encouraged by the clear progress across all brands. Through aggressive execution of our strategic plan, we delivered our third consecutive quarter of sequential comparable sales improvement. Hollister continues to build on its strong foundation, leveraging higher levels of customer engagement to drive growth across all touchpoints, and demonstrates how the customer responds when product, brand voice and brand experience are aligned. Abercrombie showed continued improvement in the areas we expected, as we brought better balance to the assortment throughout the quarter, and continued to apply the learnings from Hollister`s successes. Our focus remains on staying close to our customers and investing in our ability to meet their needs whenever, wherever and however they choose to engage with our brands.

Shares of Abercrombie & Fitch traded Thursday morning up 15% at $11.05, while the broader markets were lower. The consensus analyst price target is $11.50, and the 52-week trading range is $8.81 to $23.29.

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24/7 Wall St. has put together a preview of a few major companies scheduled to report their quarterly results this coming week. The broad markets have pulled back handily from their all-time highs over the past two weeks. In fact, this past week saw one of the worst trading days of 2017. A strong earnings showing from these stocks could help the markets return to their highs.

We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies change earnings dates as well.

Salesforce.com Inc. (NYSE: CRM) will share its latest quarterly earnings on Tuesday. The consensus estimates are $0.32 in earnings per share (EPS) and $2.51 billion in revenue. Shares were trading most recently at $90.76, in a 52-week range of $66.43 to $92.49. The consensus price target is $101.10.

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HP Inc.’s (NYSE: HPQ) latest quarterly earnings report is expected on Wednesday. The consensus estimates call for $0.42 in EPS and $12.28 billion in revenue. Shares closed trading most recently at $18.51, in a 52-week range of $13.55 to $19.58. The consensus price target is $21.48.

Lowe’s Companies Inc. (NYSE: LOW) fiscal second-quarter results are scheduled for Wednesday as well. The consensus earnings estimate is $1.61 per share, on $19.53 billion in revenue. The shares closed the week at $73.64. The consensus price target is $88.69, and the 52-week trading range is $64.87 to $86.25.

Abercrombie & Fitch Co. (NYSE: ANF) will report its most recent quarterly results on Thursday. The consensus estimates call for a net loss of $0.33 per share and $758.56 million in revenue. Shares closed at $9.66 on Friday, in a 52-week range of $8.81 to $23.29. The consensus price target is $11.50.

Tiffany & Co. (NYSE: TIF) is set to release its most recent results Thursday. The consensus forecast calls for $0.87 in EPS and $931.74 million in revenue for the quarter. Shares ended the week at $88.03. The consensus price target is $94.76, and the 52-week range is $66.35 to $97.29.

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Dollar Tree Inc. (NASDAQ: DLTR) fiscal second-quarter results also are scheduled for Thursday. The consensus forecast is $0.87 in EPS and $5.24 billion in revenue. Shares were last seen at $74.25. The 52-week range is $65.63 to $96.40, with a consensus price target of $88.35.

GameStop Corp.’s (NYSE: GME) fiscal second-quarter results are scheduled for Thursday. The consensus earnings estimate is $0.15 per share, on $1.62 billion in revenue. The shares were last seen trading at $21.22. The consensus price target is $23.75, and the 52-week range is $20.10 to $32.67.

And Marvell Technology Group Ltd. (NASDAQ: MRVL) is set to release its most recent quarterly results Thursday. The consensus forecast calls for $0.28 in EPS and $600.7 million in revenue. The stock ended the week at $15.65 a share. The consensus price target is $19.56, and the 52-week range is $11.68 to $18.18.

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Second only to the November-December holiday season in importance, back-to-school shopping has long been a critical time of year for many retailers. Some 29 million U.S. households will shop for back-to-school supplies this year and spend $27 billion in the process. That’s about half of what American families will spend on school-related items this year.

Nationally, spending will average $501 per household this year, relatively flat with last year’s $488 spending, according to a report from consulting firm Deloitte. Spending will vary by region, with the South accounting for 44% of the total ($554 per household), followed by the Midwest with 20% ($443) of all spending. The Northeast and the West each will account for 18% of total spending, $513 per household in the Northeast and $455 in the West.

Year-over-year spending on clothing and accessories is forecast to rise from $239 to $284, while spending on electronic gadgets like smartphones is expected to dip from $286 to $254 per household. Spending on school supplies is tabbed to drop from $122 to $104 and spending on computers and hardware is expected to fall from $456 to $307.

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Among retailers, the winners are expected to be mass merchants like Wal-Mart Stores Inc. (NYSE: WMT) and Target Corp. (NYSE: TGT). Some 81% of respondents to the Deloitte survey will visit these stores for back-to-school shopping, a year-over-year increase of 24%. The increase comes at the expense of department stores, where shopper visits are forecast to be down 26%. A gain of 18% at off-price stores is offset by a drop of 17% in visits to specialty clothing retailers. Not good news for Abercrombie & Fitch Inc. (NYSE: ANF) and other teen clothing sellers.

The Deloitte researchers also reported that in-store spending is expected to be more than twice online spending. Also, about 71% of spending happens in the eight-week period from early July to late August, and early shoppers are likely to spend more than late shoppers.

Methodology: The Deloitte survey was conducted online using an independent research panel between May 31 and June 6, 2017. The survey polled a sample of 1,200 parents of school-aged children and has a margin of error for the entire sample of plus or minus three percentage points. All respondents had at least one child attending school in grades K–12 this fall.

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July 12, 2017: Here are four stocks trading with heavy volume among 73 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by nearly 4 to 1 and on the Nasdaq, advancers led decliners by about 3 to 1.

Rite Aid Corp. (NYSE: RAD) dropped about 1.8% Wednesday to post a new 52-week  low of $2.21 after closing Tuesday at $2.25. The 52-week high is $8.77. Volume was around 30 million shares traded, less than 10% below the daily volume of about 32 million. The company had no specific news, and the loss of its deal with Walgreens may be more that the firm can bear.

OpGen Inc. (NASDAQ: OPGN) posted a new 52-week low of $0.38 on Wednesday, down nearly 16% compared with Tuesday’s closing price of $0.45. The stock’s 52-week high is $4.65. Volume totaled around 8.1 million shares, nearly 40 times the daily average. The company had no specific news.

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DryShips Inc. (NASDAQ: DRYS) dropped about 6.3% Wednesday to post a new 52-week low of $0.89 after closing at $0.95 on Tuesday. Volume was about 7.5 million, around 3 times the daily average of about 2.5 million shares. The shipping company had no specific news.

Abercrombie & Fitch Co. (NYSE: ANF) dropped about 4.7% Wednesday to post a new 52-week low of $8.81 after closing at $9.24 on Tuesday. The stock’s 52-week high is $23.29. Volume of about 8 million was more than double the daily average of around 3.9 million. The company had no specific news but continues to pay for Monday’s announcement that it has cut off further merger talks.

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July 11, 2017: Here are four stocks trading with heavy volume among 116 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by about the same ratio.

Rite Aid Corp. (NYSE: RAD) dropped about 3.8% Tuesday to post a new 52-week  low of $2.25 after closing Monday at $2.34. The 52-week high is $8.77. Volume was around 30 million shares traded, less than 10% below the daily volume of nearly 32 million. The company had no specific news Tuesday.

Abercrombie & Fitch Co. (NYSE: ANF) dropped about 5.3% Tuesday to post a new 52-week low of $9.08 after closing at $9.59 on Monday. The stock’s 52-week high is $23.29. Volume of about 11.5 million was more than 3 times the daily average of around 3.3 million. The company said Monday that it was ending discussions with potential buyers.

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Verizon Communications Inc. (NYSE: VZ) dropped about 0.9% Tuesday to post a new 52-week low of $42.82 after closing at $43.20 on Monday. Volume was about 9.2 million, around 30% less than the daily average of more than 15 million shares. The telecom giant had no specific news.

Macy’s Inc. (NYSE: M) posted a new 52-week low of $20.86 on Tuesday, down about 1% compared with Monday’s closing price of $21.08. The stock’s 52-week high is $45.41. Volume totaled around 7.7 million shares, about 15% below the daily average. The company had no specific news, but investors remain jittery about the entire traditional retail sector. The shares came back and are on track to close up about 0.4%.

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Amazon.com Inc.’s (NASDAQ: AMZN) plan to compete with Best Buy Co. Inc.’s (NYSE: BBY) Geek Squad sent the brick-and-mortar retailer’s shares down 6.2%. Gap Inc.’s (NYSE: GPS) share dropped 6.3% as a deal to buy Abercrombie & Fitch Co. (NYSE: ANF), a rival, fell through. However, of all the retailer shares that dropped yesterday, deeply troubled Macy’s Inc. (NYSE: M) fell the most, by 7.1%, a sign of how fragile Wall Street thinks the company is, and raising questions about its possibly terrible future.

At $21.08 a share, Macy’s trades at the bottom of its 52-week price range of $45.41 to $21.07. One reason its shares may have dropped so much is that Amazon has started its Prime Day, an annual day of sharp discounts and special deals for its Prime members who pay $99 a year for free shipping and streaming media, among other things. Many analysts believe the event sucks sales away from other retailers, although that is only a theory.

The drop in Macy’s shares shows that almost any bad news about retail, even if it does not much affect the company directly, can send investors fleeing. Macy’s will cut the price of cosmetics, according to The Wall Street Journal, which is hardly enough to shave half a billion off its market cap. Rather, the deeply held belief that Macy’s cannot survive continued retreats in store counts and price now drive investor action.

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Macy’s balances precariously on the edge of whether it is the next Sears Holdings Corp. (NASDAQ: SHLD) or a store that might survive if it can “downsize” enough. The downsizing strategy would leave it with a small national footprint to support what is still a widely known brand. It would also mean that the infrastructure of high management costs and distribution channels would have to be dismantled. Its price leverage with suppliers would also be hurt.

All the recent news about large retail companies, whether or not they compete with Macy’s, is a reminder that the aged retailer has not found a way to reinvent itself, and may not be able to.

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July 10, 2017: Here are four stocks trading with heavy volume among 110 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq, decliners led advancers by about 4 to 3.

General Electric Co. (NYSE: GE) dropped about 1.1% Monday to post a new 52-week  low of $25.85 after closing Friday at $26.15. The 52-week high is $33.00. Volume was around 31 million shares traded, about 20% below the daily volume of nearly 38 million. The company had no specific news Monday.

Abercrombie & Fitch Inc. (NYSE: ANF) dropped nearly 22% Monday to post a new 52-week low of $9.51 after closing at $12.16 on Friday. The stock’s 52-week high is $23.29. Volume of about 25 million was almost 8 times the daily average of around 3 million. The company said today that it was ending discussions with potential buyers.

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Intel Corp. (NYSE: INTC) dropped about 1.9% Monday to post a new 52-week low of $33.23 after closing at $33.88 on Friday. Volume was about 20 million, around 10% less than the daily average of nearly 22 million shares. Analysts at Jefferies lowered the firm’s rating on Intel to Underperform.

Macy’s Inc. (NYSE: M) posted a new 52-week low of $21.07 on Monday, down about 7% compared with Friday’s closing price of $22.68. The stock’s 52-week high is $45.41. Volume totaled around 17.5 million shares, about double the daily average. The company had no specific news, but retail stocks are susceptible to any potential positive development at Amazon which is beginning is Prime Day promotion Monday evening.

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Stocks may have hit all-time highs again, but the market has taken a bit of a pause and is looking for direction. The drop in oil prices has soured some of the inflation hopes and that may slow a normalization of rates by the Federal Reserve. With a bull market that is over eight years old and a more than five-year trend of investors finding different reasons to buy every sell-off, investors, from individuals to institutions, are out looking for new investing and trading ideas.

24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy. Others cover stocks to sell or to avoid.

Consensus analyst price target data are from the Thomson Reuters sell-side research service. Additional color and commentary has also been added on most of the daily analyst calls.

These were the top analyst upgrades, downgrades and other research calls from Thursday, June 22, 2017.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Hold from Sell at Wunderlich. Its shares fell 1.3% to $12.05 on Thursday, in a 52-week trading range of $10.50 to $23.29. The consensus analyst target price is $12.56.

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Aqua Metals Inc. (NASDAQ: AQMS) was started as Buy and assigned a $25 price target (versus an $11.95 prior closing price) at Rodman & Renshaw. While this is a call to double, Aqua Metals is volatile (down 2.9% on Wednesday alone) and has a 52-week range of $8.13 to $22.75. This company has developed AquaRefining, a process for recycling lead acid batteries. Its consensus analyst target was $26.67, but it is thinly covered and has a mere $240 million market cap.

CarMax Inc. (NYSE: KMX) closed up 0.8% at $59.74 on Wednesday, and Thursday is bringing an analyst war to the front. CarMax was raised to Outperform from Sector Perform at RBC Capital Markets, but it was also downgraded to Neutral from Positive at Susquehanna. CarMax has a 52-week range of $45.06 to $69.11 and a consensus analyst target of $67.81.

Oracle Corp. (NYSE: ORCL) was up 1% at $46.33 on Wednesday ahead of earnings, but the stock was indicated to open up over 11% at $51.80 on Thursday afterward. Oracle was raised to Outperform from Neutral and the price target was vaulted higher Oracle to $56 from $44 at Wedbush Securities, with the firm noting better visibility to growth ahead. Jefferies reiterated its Buy rating and raised its target to $60 from $52.

Southwest Airlines Co. (NYSE: LUV) was raised to Buy from Hold at Argus. Shares closed up 1.1% at $61.03 on Wednesday and were indicated to open up 1.2% at $61.76 on Thursday. Southwest also has a consensus target price of $66.13 and a 52-week range of $35.42 to $61.37. That will mark all-time highs for Southwest Air.

Valero Energy Corp. (NYSE: VLO) was raised to Buy from Hold at Jefferies, with the firm noting stronger oil and finished products exports and projecting robust Gulf Coast refining margins. Jefferies raised its target price to $80 from $65, after a 1.5% drop on Wednesday to $64.68. Valero’s 52-week range is $46.88 to $71.40 and it has a consensus target price of $73.06.

Wal-Mart Stores Inc. (NYSE: WMT) was reiterated as Buy with an $88 price target (versus a $75.54 close) at Jefferies. The firm noted that the company is well-positioned against Amazon in omnichannel food market.

Macquarie is lowering its oil forecasts, noting that the supply glut is now set to last until 2020. The firm lowered its oil targets to average about over $49 in 2018 and $52 in 2019. Over the longer term, the firm lowered its oil price average assumption to $65 from $70.

Other key analyst calls were seen as follows:

Actuant Corp. (NYSE: ATU) was raised to Equal Weight from Underweight at Barclays.

AvalonBay Communities Inc. (NYSE: AVB) was started as Buy with a $220 price target at Argus.

Cinemark Holdings Inc. (NYSE: CNK) was downgraded to Underperform from Neutral at Credit Suisse.

Electronics for Imaging Inc. (NASDAQ: EFII) was downgraded to Neutral from Buy at Longbow Research.

Magellan Midstream Partners L.P. (NYSE: MMP) was started as Hold with a $73 target price at Jefferies.

Spark Energy Inc. (NASDAQ: SPKE) was downgraded to Neutral from Buy after a strong run at Janney, noting the fair value of $24 on a post-split basis, versus a $22.95 prior closing price.

WPX Energy Inc. (NYSE: WPXP) was raised to Outperform from Market Perform at Cowen.

Wednesday’s top analyst upgrades and downgrades included Abbott Laboratories, Advanced Micro Devices, Chesapeake Energy, Intel, PayPal, Target, Weatherford International and Whiting Petroleum.

You can follow @Jonogg on Twitter if you want the daily analyst calls and other research notes directly on your feed.

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Investors love dividends. For long-term investors, dividends can account for more than half of total returns over time. While investors love companies with high dividend yields and those that can be expected to raise dividends in the future, there is a dark side of dividend investing. This is when companies start to get dividend yields that are just too high.

The dividend yields in certain spots in the broad retail, specialty retail and apparel sectors have reached a point that they should be sending out warnings signs to the investing community. It is just not normal for apparel and retailing companies to have dividend yields that are higher than many in pharmaceuticals, tobacco, utilities and telecom.

Now that the world of retail is being dismantled by Amazon and other emerging online trends, some retail stocks are getting to the point where their dividend yields will be viewed as at risk.

Companies with spotty earnings and in sectors that are being challenged are not exactly loved by Wall Street. It goes without saying that many aspects of broad retail, specialty retail and apparel companies are challenged and are not loved by Wall Street. It turns out that many of these companies with what feels like too-high dividend yields are also trading close to their 52-week lows while the broader market is challenging new highs.

24/7 Wall St. has screened for the dividends of the highest yielding retail (broad and specialty) and apparel companies in America. It is shocking to see how high some yields have reached. These dividends may not be at risk today, and they might not be at risk of being cut immediately, but longer-term these are reaching levels at which they will have become “buys of a lifetime” or they are “dangerous dividend traps” that lured in value investors.

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Abercrombie & Fitch Co. (NYSE: ANF) was last seen trading up over 8% at $13.26 on renewed buyout speculation by private equity, but its $0.20 quarterly dividend is now about 6.4%. That is not normal to yield this much, based on its history, and this was over $70 per share as recently as 2011.

American Eagle Outfitters Inc. (NYSE: AEO) was trading up at $11.33, but its 52-week range is $10.56 to $19.55. Its dividend yield is now also over 4%.

Barnes & Noble Inc. (NYSE: BKS) was at $6.75, and its dividend of $0.60 per share (annualized) is higher than its past adjusted earnings and higher than its expected earnings. The brick-and-mortar retail bookseller business model was the first real target of Amazon in the past. Despite a $6.55 to $13.63 trading range over the past year, this was a $25 stock 10 years ago.

DSW Inc. (NYSE: DSW) has been unable to adequately satisfy investors with its discounted shoe-selling model. Trading at $16.58, it has a 52-week range of $15.98 to $26.22, and its dividend yield is nearly 4.5% at this point.

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Gap Inc. (NYSE: GPS) was trading at $22.25, and its dividend yield is now over 4.1%. Gap has been dead money for years now, and its 52-week range is $17.72 to $30.74.

Guess? Inc. (NYSE: GES) most recently approved a quarterly cash dividend of $0.225 per common share and, despite a loss projection, that would be a yield of right at 9%, if it is sustained at a $10 share price. Guess offered up earnings guidance for this current year in the range of $0.28 to $0.40 per share, so that $0.90 dividend is a head scratcher. Guess shares have a 52-week range of $9.56 to $18.68.

Nordstrom Inc. (NYSE: JWN) has found out the hard way that even luxury apparel is not immune to online and omnichannel sales. With shares at $41.25, its dividend yield is now up to about 3.6%. Nordstrom’s 52-week range is $35.01 to $62.82, and this was an $80 stock as recently as 2015.

Pier 1 Imports Inc. (NYSE: PIR) traded down at $5.10, in a 52-week range of $3.73 to $9.68. Its dividend yield is roughly 5.5%. Pier 1 shares used to be above $20, as recently as 2013.

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Staples Inc. (NASDAQ: SPLS) was trading at $8.73, and the office supplies giant has a 52-week range of $7.24 to $10.25. Its yield is now about 5.5%. Staples is on the heels of a failed merger, and it is having a hard time finding any avenues of growth. Now with a $5.7 billion market cap, Staples was a $25 stock back in 2010.

Target Corp. (NYSE: TGT) was last seen at $54.15 and its dividend yield is about 4.4%, based upon a $2.40 annualized dividend. Target has a 52-week range of $52.72 to $79.33, and this was an $80 stock as recently as early 2016.

Wal-Mart Stores Inc. (NYSE: WMT) may be the one major retailer that can actually hold up to Amazon over time, due to it being the largest retailer in the world. Still, it has faced very sluggish same-store sales growth and its earnings history has been spotty. At $78.28 a share, its stock is still lower than its highs from prior years, and the Dow Jones Industrial Average component still has a dividend yield of about 2.6%. Wal-Mart’s 52-week range is $65.28 to $79.44, and this was an $85 stock back in 2014.

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24/7 Wall St. recently gave a dire warning about value stocks, and dividends are a part of that warning. There are far more lessons than can be said, but the safety of most dividends can be determined by identifying future earnings and cash flow per share and then matching that up against liabilities and terms of a company’s statutory liquidity levels versus its total borrowings.

The argument that retail is under attack by Amazon and other online efforts is not a new one. It is now finally reaching the point that the yields are so high they should start to worry investors.

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The post Are Retail and Apparel Dividend Yields Reaching Panic Levels? appeared first on 24/7 Wall St..

24/7 Wall St. has put together a preview of a few major companies scheduled to report their quarterly results this coming week. The broad markets have pulled back slightly from their all-time highs, including the Nasdaq. In fact, this past week saw the worst trading day of 2017. A strong earnings showing from these stocks could help the markets return to their highs.

We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies change earnings dates as well.

HP Inc.’s (NYSE: HPQ) latest quarterly earnings report is expected on Wednesday. The consensus estimates are calling for a $0.39 in earnings per share (EPS) and $11.88 billion in revenue. Shares closed trading most recently at $19.00, in a 52-week range of $11.40 to $19.49. The consensus price target is $18.79.

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Lowe’s Companies Inc. (NYSE: LOW) fiscal first-quarter results are scheduled for Wednesday. The consensus earnings estimate is $1.06 per share, on $16.96 billion in revenue. The shares were last seen at $84.59. The consensus price target is $89.27, and the 52-week trading range is $64.87 to $86.25.

Tiffany & Co. (NYSE: TIF) is set to release its most recent quarterly results Wednesday as well. The consensus forecast calls for $0.70 in EPS and $913.44 million in revenue. Shares ended the week at $92.92. The consensus price target is $96.72, and the 52-week range is $56.99 to $97.29.

Abercrombie & Fitch Co. (NYSE: ANF) will report its most recent quarterly results on Thursday. The consensus estimates call for a net loss of $0.70 in EPS and $650.99 million in revenue. Shares closed at $12.46 on Friday, in a 52-week range of $10.50 to $25.49. The consensus price target is $12.33.

Best Buy Co. (NYSE: BBY) fiscal first-quarter results also are scheduled for Thursday. The consensus forecast is $0.40 in EPS and $8.27 billion in revenue. Shares were last seen at $51.33. The 52-week range is $28.76 to $52.67, with a consensus price target of $48.10.

Costco Wholesale Corp. (NASDAQ: COST) will share its latest quarterly earnings on Thursday. The consensus estimates are $1.31 in EPS and $28.52 billion in revenue. Shares were trading most recently at $171.64, in a 52-week range of $141.91 to $183.18. The consensus price target is $183.88.

GameStop Corp.’s (NYSE: GME) fiscal first-quarter results are scheduled for Thursday. The consensus earnings estimate is $1.06 per share, on $16.96 billion in revenue. The shares were last seen at $24.22. The consensus price target is $23.91, and the 52-week range is $20.10 to $32.67.

And Marvell Technology Group Ltd. (NASDAQ: MRVL) is set to release its most recent quarterly results Thursday. The consensus forecast calls for $0.21 in EPS and $570.65 million in revenue. Shares ended the week at $16.01. The consensus price target is $18.37, and the 52-week range is $9.05 to $16.72.

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The post HP, Costco, Lowe’s and More Companies Reporting Earnings This Week appeared first on 24/7 Wall St..

Stocks were indicated to open lower on Thursday after the equity indexes closed very mixed on Wednesday, partly on a cautious view from the Bank of England. It is important to understand that the major U.S. equity indexes are all challenging all-time highs even as this bull market is now more than eight years old. Another issue to consider is that investors have bought every single pullback, and then there is the notion that investors are looking for new trading and investing ideas.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some of these analyst reports cover stocks to buy and others cover stocks to sell or to avoid.

These were the top analyst upgrades, downgrades and other research calls on Thursday, May 11, 2017.

Caterpillar Inc. (NYSE: CAT) was raised to Buy from Neutral at Merrill Lynch, and the firm’s price objective was raised to $120 from $105 in that call. The firm noted that Caterpillar’s monthly retail sales continue to accelerate, that it may raise its dividend over the summer and that it may have another big earnings beat in July.

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Chesapeake Energy Corp. (NYSE: CHK) was downgraded to Underperform from Neutral and the price objective was cut to $8 from $10 (versus a $5.75 prior close) at Merrill Lynch. Chesapeake has a 52-week trading range of $3.56 to $8.20. The downgrade was simply on the unfavorable impact of a slower oil recovery and with the firm having little upside at current strip prices.

Exxon Mobil Corp. (NYSE: XOM) was raised to Buy from Neutral with a $100 price objective (versus an $82.31 close) at Merrill Lynch. The firm called Exxon an absolute and relative value, noting that its dividend is fully covered with capex and dividend cash coverage trending toward a $40 per barrel break-even by the end of the decade.

Snap Inc. (NYSE: SNAP) was down 1.5% at $22.98 ahead of earnings on Wednesday and indicated down 23% at $17.67 on Thursday after its earnings report. Snap was maintained as Neutral and the price target was cut to $20 from $24 at JPMorgan. It was raised to Neutral from Underweight and the price target cut to $17 from $18 at Cantor Fitzgerald. Oppenheimer raised Snap’s rating to Outperform from Perform with a $23 price target. Jefferies maintained a Buy rating and kept its high $30 price target in place.

Symantec Corp. (NASDAQ: SYMC) was raised to Overweight from Equal Weight and the target price was raised to $40 from $28 at First Analysis. Symantec has a 52-week range of $16.25 to $33.22 and a consensus analyst price target of $30.17. Symantec was up 2.4% at $33.14 on Wednesday but indicated down 6% at $31.13 on Thursday after reporting a net loss and after it clarified how the cloud is impacting its light revenue forecasts.

Whole Foods Market Inc. (NASDAQ: WFM) had earnings that looked in line with more disappointing guidance. Still, the company named a new CFO and added independent directors. Whole Foods was maintained as Hold but the target price was raised to $39 from $33 at Jefferies. Whole Foods was also raised to Outperform from Market Perform at Wells Fargo. The stock was indicated up 3.45% at $37.50 on Thursday, versus a prior 52-week range of $27.67 to $37.33.

Yelp Inc. (NYSE: YELP) closed down 18.4% at $28.33 on Wednesday after poor earnings, and the results were enough to spook most analysts with far lower price targets. Now Yelp actually was raised to Buy from Neutral at Citigroup, but the firm’s price target was lowered to $35 from $39. Yelp was indicated up 3.2% at $29.23 on Thursday.

Other key analyst calls were seen in the following:

Abercrombie & Fitch Co. (NYSE: ANF) Was downgraded to Sell from Hold with a $12 price target at Wunderlich.

Acacia Communications Inc. (NASDAQ: ACAC) was downgraded to Equal Weight from Overweight at Morgan Stanley.

Albany Molecular Research Inc. (NASDAQ: AMRI) was downgraded to Equal Weight from Overweight at Morgan Stanley.

American Renal Associates Holdings Inc. (NYSE: ARA) was raised to Outperform from Market Perform at Wells Fargo.

Ascendis Pharma A/S (NASDAQ: ASND) was started with an Overweight rating and assigned a $36 price target (versus a $27.64 close) at JPMorgan.

Carlyle Group L.P. (NASDAQ: CG) was raised to Outperform from Neutral at Credit Suisse.

ConocoPhillips (NYSE: COP) was downgraded to Neutral from Buy and the price target was lowered to $67 from $68 (versus a $47.35 close) at Merrill Lynch.

GW Pharmaceuticals PLC (NASDAQ: GWPH) was reiterated as Sell with a $61 price target (versus a $106.01 close) at Janney, with the firm noting that the potential rare pediatric disease voucher does still add value.

Marathon Oil Corp. (NYSE: MRO) was downgraded to Neutral from Buy at Merrill Lynch.

Pegasystems Inc. (NASDAQ: PEGA) was reiterated as Outperform and the price target was raised to $60 from $50 (versus a $47.55 close) at Wedbush.

Priceline Group Inc. (NASDAQ: PCLN) was reiterated as Buy and the price target was raised to $2,100 from $1,950 at Argus.

Synovus Financial Corp. (NYSE: SNV) was raised to Buy from Neutral with a $50 price objective at Merrill Lynch.

Terex Corp. (NYSE: TEX) was downgraded to Underperform from Neutral and the price objective was cut to $28 from $36 at Merrill Lynch.

Vitamin Shoppe Inc. (NYSE: VSI) was raised to Equal Weight from Underweight but the price target was cut to $14 from $22 at Morgan Stanley.

Wendy’s Co. (NASDAQ: WEN) was maintained as Overweight but the target price was raised to $18 from $16 at Stephens. Wedbush maintained a Neutral rating but raised its target price to $16 from $14.

Wesco Aircraft Holdings Inc. (NYSE: WAIR) was reiterated as Underperform and the price objective was lowered to $9 (versus an $8.35 close) at Merrill Lynch.

Wolverine World Wide Inc. (NYSE: WWW) was reiterated as Outperform and the price target was raised to $31 from $30 (versus a $26.04 close) at Wedbush.

Wednesday’s top analyst calls included Alibaba, Electronic Arts, NVIDIA, Occidental Petroleum, SeaWorld, Yelp and many more.

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[cnxvideo id=”655384″ placement=”ros”]News and forecasts about the death of malls are premature, at least for the largest one in the United States. Mall of America, which houses 520 stores, turns 25 years old this weekend. It continues to flourish in way that has to be the envy of most of the rest of the industry.

The mall was created by accident, in some ways. Downtown Bloomington, Minnesota, lost its two largest corporate residents in 1982, football’s Minnesota Vikings and baseball’s Minnesota Twins. Over 78 acres became available for development. After debates about what should happen to the land, local officials decided to give it to financiers who wanted to build America’s largest home for retailers. It opened in 1992, two years before Amazon.com Inc. (NASDAQ: AMZN) was founded. Early tenants included Macy’s Inc. (NYSE: M), the Sears division of Sears Holdings Corp. (NASDAQ: SHLD) and Nordstrom Inc. (NYSE: JWN). All three have been injured by the current downturn in traditional retail sales.

Mall of America has prepared a spectacular celebration for its 25th birthday. A huge light show will be accompanied by smoke and music. The party is fitting. Mall of America has largely dodged the secular collapse of one of America’s largest industries and employers.

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Mall of America released 25 facts about itself as it prepares for the anniversary:

1.15 MILES:
Walking distance around one level of Mall of America

8 ACRES OF SKYLIGHTS:
What allows about 70% of the natural light to enter the Mall

4 OUT OF 10:
Visitors to Mall of America who are tourists

9:
Yankee Stadiums that can fit inside the Mall

27:
Rides and attractions in Nickelodeon Universe

43:
Boeing 747s that could fit inside the Mall

65:
How many semi-trucks were needed to transport trees to the theme park to create the outdoor feel of an indoor park

70 DEGREES:
Temperature inside Mall of America whether its spring, summer, winter or fall

100+ POUNDS:
Amount of food fed daily to animals at SEA LIFE Minnesota Aquarium — plus 90 extra pounds on the days the sharks are fed

347:
Statues of Liberty that could lie inside the Mall

400+:
Events held at Mall of America each year

520+:
Stores located in Mall of America

8,700+:
Weddings that have been performed at Mall of America

11,000:
Year-round employees at Mall of America (13,000 during peak periods)

12,750:
On-site parking spaces at Mall of America in two ramps

30,000+:
Live plants in Nickelodeon Universe — plus 400 live trees climbing as high as 35 feet tall

32,000+:
Tons of trash recycled each year

170,000+:
Legos that have been lost in the LEGO play area

1.3 MILLION-GALLONS:
Size of the aquarium at SEA LIFE Minnesota Aquarium

5.6 MILLION:
Square feet of gross building area

40 MILLION:
Visitors annually which is more than the combined populations of North Dakota, South Dakota, Iowa…and Canada

174+ MILLION:
Number of rides ridden in the park since opening

$650+ MILLION:
Cost to build Mall of America

NEARLY $2 BILLION:
How much Mall of America generates in economic activity annual for the state of Minnesota

0:
Sales tax on clothing in Minnesota

One of the notable things about the mall is the number of troubled retailers it houses. Long term, this may be bad for the mall’s finances. Macy’s, Abercrombie & Fitch Co. (NYSE: ANF), GameStop Corp. (NYSE: GME) and Gap Inc. (NYSE: GPS) have locations. However, Mall of America has buttressed its tenant list with scores of restaurants and with retailers like Apple Inc. (NASDAQ: AAPL), Microsoft Corp. (NASDAQ: MSFT) and T-Mobile US Inc. (NASDAQ: TMUS), which have very well-financed parents.

If the American mall is dying, the plague has not spread to Bloomington, Minnesota.

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The post America’s Largest Mall, With 500 Stores, Turns 25 Years Old appeared first on 24/7 Wall St..

[cnxvideo id=”655415″ placement=”ros”]J.C. Penney Co. Inc. (NYSE: JCP) announced the 138 stores it would close today. Earlier this year, J.C. Penney said it would close 130 to 140 locations because of flagging sales. Revenue in the final quarter of last year, which ended January 28, was $3.9 billion, flat with the same quarter in the previous year. However, J.C. Penney forecast same-store sales would drop as much as 2% this year.

As part of the announcement, the retailer said it would offer early retirement to 6,000 people.Marvin R. Ellison, chairman and chief executive officer of J.C. Penney said,

“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures.”

J.C. Penney management also disclosed the basis on which the locations were chosen. The 138 stores are 13% to 14% of the company’s store portfolio, but under 5% of total sales and”0%” of net income.

The state hardest hit by the action is Penney’s home state of Texas where nine stores will be shuttered. Other states widely affected include Michigan (7), Minnesota (8), and Illinois (7). Four stores will be closed in South Dakota which has a statewide population of less than 845,000 people, which makes it the 46th state as ranked by residents.

The news is part of a trend which has accelerated recently.  Traditional bricks-and-mortar retailers have been in retreat for several years as their business has been stripped away by Amazon (NASDAQ: AMZN) and even their own e-commerce initiatives. This year, these include Sears Holdings (NASDAQ: SHLD), parent of Sears and KMart, Abercrombie & Fitch (NYSE: ANF), and Macy’s (NYSE: M)

J.C. Penney shares recently dropped to a 52-week low of $5.85, down 15% year to date.

Below is a list of impacted locations:

Mall/Shopping Center City State
Auburn Mall Auburn  AL
Tannehill Promenade Bessemer AL
Gadsden Mall Gadsden AL
Jasper Mall Jasper AL
Military Plaza Benton AR
Chickasaw Plaza Blytheville AR
Riverview Mall Bullhead City AZ
Downtown Bishop Bishop CA
Sunwest Plaza Lodi CA
The Village at Orange Orange CA
Hilltop Mall Richmond CA
Fort Morgan Mail St. Fort Morgan CO
Glenwood Springs Mall Glenwood Springs CO
St. Vrain Centre Longmont CO
Broadway Plaza Sterling CO
Connecticut Post Mall Milford CT
Jacksonville Regional Shopping Center Jacksonville FL
Palatka Mall Palatka FL
Dublin Mall Dublin GA
Macon Mall Macon GA
Milledgeville Mall Milledgeville GA
Gateway Plaza Thomasville GA
Tifton Mall Tifton GA
Downtown Decorah Decorah IA
Crossroads Mall Fort Dodge IA
Penn Central Mall Oskaloosa IA
Quincy Place Ottumwa IA
Snake River Plaza Burley ID
Eastland Mall Bloomington IL
Fulton Square Canton IL
Village Square Mall Effingham IL
Freestanding Macomb IL
Peru Mall Peru IL
Northland Mall Sterling IL
Centerpointe of Woodridge Woodridge IL
FairOaks Mall Columbus IN
Connersville Plaza Connersville IN
Huntington Plaza Huntington IN
Jasper Manor Center Jasper IN
Logansport Mall Logansport IN
Chanute Square Chanute KS
Downtown Great Bend Great Bend KS
Hutchinson Mall Hutchinson KS
Freestanding Lawrence KS
Winfield Plaza Winfield KS
Cortana Mall Baton Rouge LA
Park Terrace DeRidder LA
North Shore Square Slidell LA
Berkshire Mall Lanesborough MA
Easton Marketplace Easton MD
Rockland Plaza Rockland ME
LakeviewSquare Mall Battle Creek MI
Delta Plaza Escanaba MI
Westshore Mall Holland MI
Copper Country Mall Houghton MI
Birchwood Mall Kingsford MI
Midland Mall Midland MI
Cascade Crossings Sault Ste. Marie MI
Central Lakes Crossing Baxter MN
Five Lakes Centre Fairmont MN
Faribo West Mall Faribault MN
Irongate Plaza Hibbing MN
Hutchinson Mall Hutchinson MN
Red Wing Mall Red Wing MN
Downtown Thief River Falls Thief River Falls MN
Freestanding Winona MN
Maryville Center Maryville MO
Leigh Mall Columbus MS
Southgate Plaza Corinth MS
Greenville Mall Greenville MS
Bonita Lakes Mall Meridian MS
Oxford Mall Oxford MS
Capital Hill Mall Helena MT
Sidney Main Street Sidney MT
Albemarle Crossing Albemarle NC
Boone Mall Boone NC
Eastridge Mall Gastonia NC
Blue Ridge Mall Hendersonville NC
Monroe Crossing Monroe NC
Becker Village Mall Roanoke Rapids NC
Prairie Hills Mall Dickinson ND
Buffalo Mall Jamestown ND
Downtown Wahpeton Wahpeton ND
Fremont Mall Fremont NE
Downtown McCook McCook NE
Platte River Mall North Platte NE
Rio Grande Plaza Rio Grande NJ
The Boulevard Las Vegas NV
Dunkirk-Fredonia Plaza Dunkirk NY
Westfield Sunrise Massapequa NY
Palisades Center West Nyack NY
Findlay Village Mall Findlay OH
New Towne Mall New Philadelphia OH
Richmond Town Square Richmond Heights OH
St. Mary’s Square St. Marys OH
Altus Plaza Altus OK
Ne-Mar Shopping Center Claremore OK
Ponca Plaza Ponca City OK
Pioneer Square Shopping Center Stillwater OK
Astoria Downtown Astoria OR
Grants Pass Shopping Center Grants Pass OR
La Grande Downtown La Grande OR
Downtown Pendleton Pendleton OR
The Dalles Main Street The Dalles OR
Columbia Mall Bloomsburg PA
Clearfield Mall Clearfield PA
King of Prussia Mall King of Prussia PA
Philadelphia Mills Philadelphia PA
Bradford Towne Centre Towanda PA
Lycoming Mall Pennsdale PA
Willow Grove Park Willow Grove PA
Citadel Mall Charleston SC
Town ‘N Country Easley SC
Palace Mall Mitchell SD
Northridge Plaza Pierre SD
Watertown Mall Watertown SD
Yankton Mall Yankton SD
Greeneville Commons Greeneville TN
Knoxville Center Knoxville TN
County Market Place Union City TN
Athens Village Shopping Center Athens TX
Borger Shopping Plaza Borger TX
Heartland Mall Early TX
El Paso Downtown El Paso TX
Marshall Mall Marshall TX
McAllen Downtown McAllen TX
University Mall Nacogdoches TX
King Plaza Shopping Center Seguin TX
Bosque River Center Stephenville TX
New River Valley Mall Christiansburg VA
Tanglewood Mall Roanoke VA
Pilchuck Landing Snohomish WA
Pine Tree Mall Marinette WI
Marshfield Mall Marshfield WI
Richland Square Shopping Center Richland Center WI
Rapids Mall Wisconsin Rapids WI
Foxcroft Towne Center Martinsburg WV
Downtown Sheridan Sheridan WY

The post The List of All 138 Stores JC Penney Is Closing appeared first on 24/7 Wall St..

[cnxvideo id=”655415″ placement=”ros”]Abercrombie & Fitch Co. (NYSE: ANF) reported its fiscal fourth-quarter financial results before the markets opened on Thursday. While overall results did not meet expectations, the past year was said to be one of significant progress, although shares are just above their multiyear lows. The results may have missed, but they were still enough to turn shares around from their long slide down, at least for now.

The company posted $0.71 in earnings per share (EPS) and $1.04 billion in revenue, versus consensus estimates from Thomson Reuters of $0.75 in EPS and revenue of $1.05 billion. In the same period of last year, Abercrombie reported EPS of $1.08 and $1.11 billion in revenue.

Comparable sales for the company as a whole were down 5% during the fourth quarter. According to the breakdown, the Abercrombie brand comparable sales declined by 13% and Hollister posted positive comparable sales of 1%.

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In terms of the outlook for the 2017 full year, the company expects to see comparable sales improve for the full year, but to remain challenging for the first half. Hollister, its largest brand, is expected to maintain or improve its comparable sales trend and Abercrombie to improve throughout the year. The consensus estimates predict $0.15 in EPS and $3.3 billion in revenue for the year.

On the books, Abercrombie’s cash and cash equivalents totaled $547.2 million at the end of the quarter, versus $588.6 million in the same period last year.

Fran Horowitz, CEO of Abercrombie & Fitch, commented:

Results for the quarter reflect a still challenging and competitive retail environment, however we continue to make progress on our strategic priorities. Hollister, our largest brand, achieved positive comp sales and the Abercrombie brand renewal continues, although it is a work in progress. International markets improved measurably from last quarter, for both Abercrombie and Hollister brands, and the direct-to-consumer business continued to deliver positive comparable sales in both the U.S. and international markets. However, the competitive environment resulted in more promotional activity and a lower gross margin rate than planned.

Shares of Abercrombie & Fitch was up 13% early Thursday at $13.21, with a consensus analyst price target of $13.32 and a 52-week trading range of $10.91 to $32.83.

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[cnxvideo id=”655415″ placement=”ros”]The American Customer Satisfaction Index (ACSI) has released its latest evaluation of major American retailers. Costco Wholesale Corp. (NASDAQ: COST) and Dillard’s Inc. (NYSE: DDS) led in the two major categories.

Dillard’s was the top retailer among 15 companies in the “Department and Discount” category for 2016. It received a grade of 83 out of a possible 100. This was higher by 4% from 2015. Surprisingly, J.C. Penney Co. Inc. (NYSE: JCP) not only took second place with a score of 82, it also had the largest increase from the previous year, up 11%. At the bottom of the list, Wal-Mart Stores Inc. (NYSE: WMT) had a score of 72, which was 9% above the previous year. Across the entire category, customer satisfaction rose 5.4% to 78.

In the “Specialty” retail category. Costco led a list of 26 companies, with its score of 83, up 2% from 2015. Deeply troubled book retailer Barnes & Noble Inc. (NYSE: BKS) finished second, in a tie with two other retailers, with a score of 81, up 3%. Equally trouble retailer L Brands Inc. (NYSE: LB), which owns Victoria’s Secret, also posted 81, flat from last year. Victoria’s Secret recently posted a steep drop in same-store sales in L Brands’ most recently reported quarter. Sam’s Club, the warehouse division of Wal-Mart, also posted a score of 81, up 7%. Notably, one of Sam’s Club’s major rivals is Wal-Mart.

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At the bottom of the specialty retail category was another struggling company, Abercrombie & Fitch Co. (NYSE: ANF), with a score of 76, up 17% from 2015. Tied for second with scores of 77, Best Buy Co. Inc.’s (NYSE: BBY) score rose 4%, Toys”R”Us rose 3% and Big Lots Inc. (NYSE: BIG) also rose 4%.

The authors of the research wrote:

All retail categories post year-over-year gains in customer satisfaction for the 2016 holiday shopping season despite weak sales performance for many big chains, especially department stores. E-commerce sales continue to grow at a pace that outstrips brick-and-mortar stores, while the latter faces declining foot traffic.

Paradoxically, however, emptier stores can have a positive effect on customer satisfaction. Fewer customers can lead to shorter lines, faster checkout, and more attention from the sales staff. But empty stores are not the only reason for the rise in customer satisfaction in 2016. Retailers also have made strides to improve the customer experience with omnichannel offerings. Moreover, better customer service, lower gasoline prices, and food price deflation are contributing to stronger customer satisfaction.

It is an observation that reveals a mixed blessing.

The authors also posted their methodology:

The ACSI uses data from interviews with roughly 70,000 customers annually as inputs to an econometric model for analyzing customer satisfaction with more than 300 companies in 43 industries and 10 economic sectors, including various services of federal and local government agencies.

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[cnxvideo id=”655408″ placement=”ros”]The first round of retail earnings has come and gone. Now we are seeing more major retailers getting ready to report. The broad markets have been on an absolute tear, with the Dow Jones Industrial Average specifically having a record closing streak like none seen in roughly three decades. Although retailers were somewhat subdued last week, all the earnings coming out could mean a change of pace.

24/7 Wall St. has reviewed the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as added some additional color on each.

For more, check out six key earnings to look for this week.

Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies change earnings dates as well.

Target Corp. (NYSE: TGT) will share its most recent quarterly results on Tuesday morning. The consensus estimates call for earnings per share (EPS) of $1.51 and $20.74 billion in revenue. Shares were last trading at $66.51, in a 52-week trading range of $62.94 to $84.14. The stock has a consensus analyst price target of $73.82.

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Early on Wednesday, American Eagle Outfitters Inc. (NYSE: AEO) is scheduled to reveal its fiscal fourth-quarter results. The consensus estimates call for $0.38 in EPS, as well as $1.11 billion in revenue. Shares closed trading at $15.25 on Friday. The consensus price target is $18.29. The stock has a 52-week trading range of $13.32 to $19.55.

Best Buy Co. (NYSE: BBY) is set to report its fiscal fourth-quarter results before the markets open Wednesday as well. The analysts’ consensus estimates call for EPS of $1.67 and $13.62 billion in revenue. Shares were last changing hands at $45.56. The consensus price target is $45.23, and the stock has a 52-week range of $28.76 to $49.40.

Fourth-quarter results from Dollar Tree Inc. (NASDAQ: DLTR) also are scheduled for Wednesday. The consensus analyst estimates call for $1.32 in EPS and revenue of $5.62 billion. Shares of Dollar Tree closed at $79.41 on Friday. The consensus price target is $90.43. The 52-week trading range is $72.55 to $99.93.

Lowe’s Companies Inc. (NYSE: LOW) is set to share its latest quarterly earnings on Wednesday. The consensus estimates call for $0.79 in EPS and $15.39 billion in revenue. Shares were recently closed at $76.10, in a 52-week range of $64.87 to $83.65. The stock has a consensus analyst target of $81.35.

Also on Wednesday, look for Office Depot Inc. (NASDAQ: ODP) to report its fourth-quarter results. The analysts’ consensus estimates are EPS of $0.10 and $2.71 billion in revenue. Shares were changing hands at $4.33 on Friday’s close. The consensus price target is $4.62, and the stock has a 52-week trading range of $3.01 to $7.91.

Abercrombie & Fitch Co. (NYSE: ANF) will share its latest quarterly earnings on Thursday. The consensus estimates call for $0.75 in EPS on $1.05 billion in revenue. Shares ended the week at $11.98, in a 52-week trading range of $10.91 to $32.83. The consensus price target is $13.30.

Look for Costco Wholesale Corp. (NASDAQ: COST) to report its fiscal second-quarter results on Thursday. The consensus analyst estimates are $1.36 in EPS and revenue of $29.82 billion. Shares of Costco closed at $177.56 on Friday, above the consensus price target of $176.27. The 52-week range is $138.57 to $177.71.

And Kroger Co. (NYSE: KR) is set to share its latest quarterly earnings on Thursday. The consensus estimates call for $0.52 in EPS and $27.3 billion in revenue. Shares closed trading at $33.29, in a 52-week range of $28.71 to $40.91. The stock has a consensus analyst target of $36.09.

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[cnxvideo id=”655415″ placement=”ros”]Abercrombie & Fitch Co. (NYSE: ANF) is one of the great American brands. Unfortunately, its brand history has gone from iconic to tired. At least that’s what shareholders must think. After its sales peaked at $4.51 billion in 2013, Abercrombie has seen them drop each year since. Analysts also expect sales to drop for fiscal 2017 and 2018, with only a minor recovery anticipated in fiscal years 2019 and 2020.

Now Abercrombie is announcing new store concepts for the first time in about 15 years. This company has endured the same issues as many apparel retailers due to slower mall traffic and a competitive landscape. Apparel sellers must tread cautiously, as they often have entirely new revenue generators two or three times each year, and we all know how fickle its age group of customers can be.

While new store concepts can come with big risks, they can completely reform the image of a company. This change from Abercrombie may simply be too little an effort for too low a yield. On the other hand, if Abercrombie customers respond well then you might see a much more aggressive roll-out in calendar years 2018 and 2019.

The new store concept is said to bring a unique and personal shopping experience to the stores. Innovative fitting rooms and omnichannel efforts will be made to capitalize on convenience. The company also noted that its sales associates in the stores will assist shoppers to place orders online and for pickup.

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The first new concept store will open on Friday, February 17, at the Polaris Fashion Mall in Columbus, Ohio. Abercrombie also noted that 20% of all opening weekend sales will be donated to Nationwide Children’s Hospital.

This boutique is 4,860 square feet and is said to be the first of seven stores that will be built in 2017. It was designed by M.J. Sagan Architecture, which was also shown to have been involved in the creation of the company`s New Albany headquarters.

Abercrombie said that there are striking updates that begin at the entrance. The storefront is said to be transparent and features a metal sculpture of an A&F logo first used in the early 1900s. Customers will see two shop-in-shops: a fragrance “apothecary” and an area for seasonal capsule collections. There will also be a dedicated denim room.

Mannequins for both genders will live on a concrete platform that runs from the storefront through the middle of the store, showcasing the key trends and ideas for the current season. The interior features a cohesive palette of modern, tactile materials including cork, bronze, galvanized steel, concrete, vegan leather, wood and marble that act as a neutral but complimentary background to the collections.

Below is a recent history of Abercrombie revenue:

• $3.5187 billion (Jan-2016)
• $3.7440 billion (Jan-2015)
• $4.1169 billion (Jan-2014)
• $4.5108 billion (Jan-2013)
• $4.1581 billion (Jan-2012)

The Thomson Reuters consensus analyst estimates for fiscal revenues are as follows:

• $3.335 billion (Jan-2017)
• $3.309 billion (Jan-2018)
• $3.335 billion (Jan-2019)
• $3.524 billion (Jan-2020)

New concept stores can be great for companies that need to revitalize their brands. Unfortunately, it also represents an increase in capital spending. These efforts can lead to each store being revamped, taking a store offline for a month or more, and that means no effective sales at that location.

So far, investors are taking a wait and see attitude on the news of a new concept store. Only rolling this out in seven new stores means that the effort is being tested rather than being touted as the next major phase of the company.

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Abercrombie shares were last seen down two cents on Monday, at $11.67 in a 52-week range of $10.91 to $32.83. That means that the stock is down almost two-thirds from its 2016 highs. The shares were trading at almost $75 at the most recent peak back in 2011 and at $80 before the Great Recession. Sadly, the current share price is even lower than at the peak of the recession selling in late 2008 and the start of 2009.

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[cnxvideo id=”655354″ placement=”ros”]Stocks hit all-time highs at the end of 2016, and they have been looking for direction after a gap-up did not really hold on the first day of 2017. With a pro-growth and pro-business climate taking shape, investors are still looking for deeper value and growth opportunities ahead. They are also still buying all the pullbacks in a bull market that is almost eight years old.

24/7 Wall St. reviews dozens of analyst reports each day of the week to find new investing and trading ideas for our readers. Some of these analyst research reports cover stocks to buy, and other calls cover stocks to sell or to avoid.

The Dow Jones Industrial Average closed out the year 2016 at 19,762.60 on December 30, up 13.4% for the year. The S&P 500 ended the year at 2,238.83, up 9.5% from the 2,043.94 close of 2015, and Nasdaq closed at 5,383.12 for a gain of just 7.5%, versus the 5,007.41 close at the end of 2015.

These are the top analyst upgrades, downgrades and initiations seen on Wednesday morning:

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Abercrombie  & Fitch Co. (NYSE: ANF) took some downgrades on Tuesday, but on Wednesday it was raised to Market Perform from Underperform with a $13 price target (versus a $12.11 prior close) at FBR Capital Markets. Shares were actually up 0.9% on Tuesday and were indicated up another 1% at $12.24 on Wednesday.

Altria Group Inc. (NYSE: MO) was raised to Buy from Neutral and the price objective was raised to $75 from $70 at Merrill Lynch. Despite a rotation out of bond proxies, the firm’s analysts are positive on Altria given what could be some positive developments from economic impacts and from corporate taxes that may be in the offing.

Anthem Inc. (NYSE: ANTM) was downgraded to Hold from Buy with a $155 price target (versus a $143.24 close) at Stifel Nicolaus. It has a 52-week trading range of $114.85 to $148.26 and a market cap of almost $38 billion.

United Continental Holdings Inc. (NYSE: UAL) was downgraded to Market Perform from Outperform with a $75 price target (versus a $72.71 close) at Cowen. The 52-week range is $37.41 to $76.80. It is among the largest of the airlines in the world with a $23 billion market cap.

Blackstone Group L.P. (NYSE: BX) is rated as Outperform at Credit Suisse, but the firm added Blackstone to its U.S. Focus List (while removing U.S. Silica from that list). At $28.12, Blackstone has a 52-week range of $22.31 to $30.25

AMAG Pharmaceuticals Inc. (NASDAQ: AMAG) was started with a Buy rating and assigned a fair value of $45.00 (versus a $34.80 close) at Janney. The firm noted that its introduction of a new formulation of Makena triggered an 11% market share gain, on a doubling in prescriptions in just six months, and that it expects growth to continue well into 2017.

24/7 Wall St. has broken the morning analyst calls into two groups on Wednesday because there were so many energy (oil and gas) upgrades and downgrades (FULL ENERGY LIST) that they needed their own report. Other key analyst upgrades and downgrades seen this Wednesday were seen in shares of the following companies:

Athenahealth Inc. (NASDAQ: ATHN) was raised to Overweight from Sector Weight at KeyBanc Capital Markets.

Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Underperform from Hold with a $51 price target at Jefferies.

Codexis Inc. (NASDAQ: CDXS) was raised to Buy from Neutral with a $6.25 price target (versus a $4.50 close) at Ladenburg Thalmann.

Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was downgraded to Underperform from Hold with a $45 price target (versus a $52.30 close) at Jefferies.

Hologic Inc. (NASDAQ: HOLX) was raised to Overweight from Neutral and the price target was raised to $48 from $44 (versus a $40.15 close) at Piper Jaffray.

Itron Inc. (NASDAQ: ITRI) was reiterated as Buy but the price target was raised to $73 from $64 (versus a $62.90 close) at Argus.

Navient Corp. (NASDAQ: NAVI) was downgraded to Neutral from Outperform at Credit Suisse.

Philip Morris International Inc. (NYSE: PM) was downgraded to Neutral from Buy with a $96 price objective (versus a $91.23 close) at Merrill Lynch.

STMicroelectronics N.V. (NYSE: STM) was downgraded to Underweight from Equal Weight at Morgan Stanley.

TE Connectivity Ltd (NYSE: TEL) was downgraded to Sell from Neutral with a $64 price target (versus a $68.96 close) at Goldman Sachs.

WellCare Health Plans Inc. (NYSE: WCG) was downgraded to Hold from Buy with a $147 price target (versus a $136.90 close) at Stifel.

Wingstop Inc. (NASDAQ: WING) was downgraded to Hold from Buy with a $30 price target at Jefferies.

Tuesday’s top analyst upgrades and downgrades included Abercrombie & Fitch, Nokia, Walt Disney, Xerox, Verizon Communications, Vodafone, Sarepta Therapeutics and over a dozen more.

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[cnxvideo id=”625498″ placement=”ros”]Stocks hit all-time highs at the end of 2016, but the last week of the year was choppy and on thin volume. The first trading day of 2017 is indicated higher after overseas markets were pulling the indexes higher, with the Dow indicated up 130 points and the S&P 500 indicated up 16 points. Investors now find themselves looking for deeper value and growth opportunities, and the trend of buying pullbacks that has been in place for six years in a bull market that is almost eight years old seems to be alive and well.

24/7 Wall St. reviews dozens of analyst reports each day of the week to find new investing and trading ideas for our readers. Some of these analyst research reports cover stocks to buy, and others cover stocks to sell or avoid.

Investors have been rotating out of bonds, and they had put off profit taking until 2017 due to the belief that capital gains taxes would be lower under a Trump administration. Where that leaves the start of 2017 heading remains to be seen. These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:

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Abercrombie & Fitch Co. (NYSE: ANF) was downgraded to Hold from Buy and the price target was cut to $13 from $24 (versus a $12.00 prior close) at Jefferies. Oppenheimer also downgraded the stock to Underperform on the first trading day of 2017. It has a consensus analyst price target of $14.75 and a 52-week trading range of $11.85 to $32.83.

Nokia Corp. (NYSE: NOK) was downgraded to Perform from Outperform at Oppenheimer, which removed its former $7.00 price target as a result of the rating. Nokia most recently closed at $4.81 per American depositary share, and the 52-week range is $4.04 to $7.55. The consensus price target is $5.65.

Walt Disney Co. (NYSE: DIS) was raised to Buy from Hold with a $120 price target (versus a $104.22 close) at Evercore ISI. This is shortly after a late-December call in which Merrill Lynch added Disney to its US 1 list of stocks to buy with a $125 price target. Disney’s 52-week range is $86.25 to $106.75, and it has a consensus price target of roughly $108.

Xerox Corp. (NYSE: XRX) has completed its separation of Conduent and the old company was raised to Overweight from Neutral with a $10.50 price target (versus an $8.73 close) at JPMorgan. Due to the post-split prices ($6.29 or so) price data has been withheld.

Verizon Communications Inc. (NYSE: VZ) was raised to Buy from Neutral at Citigroup. Price target data was not seen, but Verizon closed at $53.38 on the last day of December and enjoyed a solid 2016, with hopes that the 4.3% dividend yield will be taxed lower. The consensus price target is $52.25, and the 52-week range is $43.79 to $56.95.

Vodafone Group PLC (NASDAQ: VOD) was started as Accumulate at Standpoint Research. It closed at $4.43 on Friday, versus a consensus target price of $38.10 and in a 52-week range of $24.17 to $31.69.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was raised to Buy from Neutral with a $65 price target (versus a $27.43 close) at Janney. The shares had a consensus analyst target of about $65 already, and to show just how volatile it is, its 52-week range is $8.00 to $63.73. Sarepta was last seen up 3% at $28.25.

There were also some real surprises for huge dividends in 2017’s new Dogs of the Dow.

Additional analyst upgrades, downgrades and initiations were seen in over a dozen more stocks, including Athene, Barracuda Networks, DSW, Energizer, Michael Kors and PACCAR.

The Dow Jones Industrial Average closed out 2016 at 19,762.60. It may have not hit the elusive 20,000 mark, but it ended the year with a gain of 13.4% from the 17,425.03 close on the last trading day of 2015. This was quite close to the 24/7 Wall St. forecast of 19,700. but we still have a case that can be made for up to Dow 22,000 late in 2017. The S&P 500 ended the year at 2,238.83, up 9.5% from the 2,043.94 close of 2015. The Nasdaq closed at 5,383.12, for a gain of just 7.5% from the 5,007.41 close at the end of 2015.

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December 27, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by nearly 9 to 5.

Endologix Inc. (NASDAQ: ELGX) dropped about 26% on Tuesday to post a new 52-week low of $5.32 against a 52-week high of $14.50 and a Friday close of $7.19. Volume of about 7 million was nearly 5 times the daily average of around 1.5 million. The company put a temporary shipping hold on its best-selling heart device, saying there was a manufacturing issue.

Abercrombie & Fitch Inc. (NYSE: ANF) dropped about 0.7% on Tuesday to post a new 52-week low of $11.86 after closing at $11.94 on Friday. The stock’s 52-week high is $32.83. Volume of about 2 million shares was about 15% below the daily average of about 2 million. The specialty retailer had no specific news.

Under Armour Inc. (NYSE: UAA) dropped about 0.5% on Tuesday to post a new 52-week low of $29.14 after closing at $29.29 on Friday. The stock’s 52-week high is $47.95. Volume was about one-third the daily average of around 6 million shares. The company had no specific news Tuesday.

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Sears Holdings Corp. (NASDAQ: SHLD) dropped about 7.2% Tuesday to post a new 52-week low of $8.16 after closing Friday at $8.79. The 52-week high is $21.98. Volume of around 2 million was more than double the daily average of around less than 900,000 shares traded. The company had no specific news.

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Christmas is hours away. The chance to shop has only hours left as well. This means every retailer of any size knows what its fate is. Chief executive officers are sitting in their offices, or at home or on vacation, as the last data come in from their far-flung empires of stores and websites. Each of these CEOs, therefore, also knows whether his or her company was a winner or a loser. The balance of the world, outside a few top lieutenants, may not know for weeks, or even months, when these retailers report earnings for the period that included the holidays.

Wall Street believes it already has forecast who won and lost, at least based on the stock prices of the public corporations with large retail businesses. And some of the winners and losers are surprising.

Shares of Amazon.com Inc. (NASDAQ: AMZN) are off over 2% in the past month to $750. The conventional wisdom is that Amazon once again ruled e-commerce and grabbed market share from most large retailers. An alternative argument is that Amazon spent so much on free shipping and other marketing programs that its profits margins will be small. Perhaps this is why its shares have not rallied ahead of Christmas.

At the far end of the list of companies that have failed during the final month of the year is Sears Holdings Corp. (NASDAQ: SHLD), to no one’s shock. Its shares are down 32% over the past 30 days to $8.79. Same-stores sales at its two big units — Kmart and Sears — have fallen quarter after quarter. So has revenue for the parent company, which largely survives on a lifeline of cash from CEO Eddie Lampert, which comes in the form of debt.

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The action of Best Buy Co. Inc.’s (NYSE: BBY) stock has signaled excited optimism, followed by a quick move to pessimism. Its shares traded at $46.50 a month ago. Strong earnings results took the stock to $49.40 a share. Now, the shares trade below $45, down 4% over the period. What became a belief that the consumer electronics store could hold its own against Amazon turned to skepticism, perhaps based on years of failure in the effort to keep pushing revenue higher.

At the mid-market stores, carnage among stocks is almost universal. Badly run Macy’s Inc. (NYSE: M) has laid off thousands of people and closed scores of stores. As CEO Terrence James Lundgren departs, the company’s stock has dropped 17% in a month to $36.50. Joining Macy’s in the decimated department store retail category is Nordstrom Inc. (NYSE: JWM), shares of which are off 15% to $50, and Kohl’s Corp. (NYSE: KSS), down 9% to $48.75.

Among the specialty retailers, particularly those aimed at young people, Abercrombie & Fitch Co. (NYSE: ANF) is off 21% in the past month to $11.86, a 52-week low. American Eagle Outfitters Inc. (NYSE: AEO), down 18% to $15, and Gap Inc. (NYSE: GPS), down 12% to $22.50, are in the same boat. The sell-off of most of these stocks accelerated in the final week of the last month of trading, as a deepening gloom has overtaken the industry. That is either because of concern overall retailer sales were slow or traditional retailers lost out to e-commerce.

Oddly, the aircraft carrier of retail, Wal-Mart Stores Inc. (NYSE: WMT), has matched Amazon’s performance almost exactly, off 2% to $69.50. There must be a theory that the two dominant companies in the industry will rattle the rest with sharp increases in market share.

The books on the 2016 holidays are closed. Only a small number of top executives know what they look like. It is too late for them to cross their fingers.

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December 22, 2016: Here are four stocks trading with relatively heavy volume among 67 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq decliners led advancers by about 9 to 5.

OvaScience Inc. (NASDAQ: OVAS) dropped about 56% on Thursday to post a new 52-week low of $1.32 against a 52-week high of $11.66 and a Wednesday close of $2.97. Volume of about 9.4 million was nearly 10 times the daily average of around 530,000. The fertility biotech firm laid off a third of its workforce and the CEO resigned after just six months on the job.

Abercrombie & Fitch Inc. (NYSE: ANF) dropped about 6.4% on Thursday to post a new 52-week low of $12.02 after closing at $12.84 on Wednesday. The stock’s 52-week high is $32.93. Volume of about 3.8 million shares totaled roughly 15% more than the daily average of about 3.4 million. The specialty retailer had no specific news.

Amicus Therapeutics Inc. (NASDAQ: FOLD) dropped about 6.2% on Thursday to post a new 52-week low of $4.41 after closing at $4.67 on Wednesday. The stock’s 52-week high is $9.99. Volume was about 25% above the daily average of around 3.5 million shares. The company had no specific news Thursday.

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Primero Mining Co. (NYSE: PPP) dropped about 1.4% Thursday to post a new 52-week low of $0.70after closing Wednesday at $0.71. The 52-week high is $2.73. Volume of around 2.8 million was about 40% more than the daily average of around 1.8 million shares traded. The company had no specific news.

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December 19, 2016: Here are four stocks trading with relatively heavy volume among 50 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by roughly 4 to 3.

Fitbit Inc. (NYSE: FIT) dropped about 0.8% on Monday to post a new 52-week low of $7.42 after closing at $7.48 on Friday. The stock’s 52-week high is $30.96. Volume was 20% below the daily average of around 10 million shares. The company had no specific news Monday.

Sphere 3D Corp. (NASDAQ: ANY) dropped about 36% Monday to post a new 52-week low of $0.23 after closing Friday at $0.36. The 52-week high is $2.00. Volume of around 4.3 million was more than 10 times the daily average of around 390,000 shares traded. The company said today that it has received an unsolicited proposal from an unnamed company to purchase certain of Sphere 3D’s assets.

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Hanesbrands Inc. (NYSE: HBI) dropped about 0.3% on Monday to post a new 52-week low of $21.49 against a 52-week high of $31.36 and a Friday close of $21.55. Volume of about 3.8 million was 35% below the daily average of around 5.7 million. The company said on Friday that the company would sell some non-core assets.

Abercrombie & Fitch Co. (NYSE: ANF) dropped nearly 2.3% on Monday to post a new 52-week low of $13.01 after closing at $13.31 on Friday. The stock’s 52-week high is $32.83. Volume of about 2.4 million shares was 30% below the daily average of about 3.3 million. The company had no specific news Monday.

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December 16, 2016: Here are four stocks trading with relatively heavy volume among 49 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 4 to 3 and on the Nasdaq decliners led advancers by nearly 5 to 4.

Hanesbrands Inc. (NYSE: HBI) dropped about 2.7% on Friday to post a new 52-week low of $21.49 against a 52-week high of $31.36 and a Thursday close of $22.08. Volume of more than 11 million was about double the daily average of around 5.6 million. The company said it has agreed to sell two businesses it acquired earlier this year in its purchase of Pacific Brands Ltd. of Australia.

Amicus Therapeutics Inc. (NASDAQ: FOLD) dropped about 2.1% on Friday to post a new 52-week low of $4.70 after closing at $4.80 on Thursday. The stock’s 52-week high is $9.99. Volume was more than triple the daily average of around 2.7 million shares. The company on Thursday priced a private offering of convertible senior notes with an initial conversion price of about $6.12 per share.

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RXi Pharmaceuticals Corp. (NASDAQ: RXII) dropped nearly 43% Friday to post a new 52-week low of $0.80 after closing Thursday at $1.38. The 52-week high is $4.24. Volume of around 4.2 million was about 14 times the daily average of around 310,000 shares traded. The company said this morning that it had priced 10 million shares at $0.90 in a secondary offering.

Abercrombie & Fitch Co. (NYSE: ANF) dropped about 1.3% on Friday to post a new 52-week low of $13.20 after closing at $13.37 on Thursday. The stock’s 52-week high is $32.83. Volume of about 2.4 million shares was 20% below the daily average of about 3.3 million. The company had no specific news Friday.

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[cnxvideo id=”625494″ placement=”ros”] Stocks have hit new all-time highs on a post-election Trump rally, with the Dow over 19,000 and the S&P 500 hitting 2,200. Markets were looking for direction ahead of Thanksgiving and many investors are already out of the office or have their foot out the door. Investors have proven over and over that they will buy the market on any real pullback. Those same investors are also looking for new ideas for where they should be investing in 2017 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for our readers. Some analyst research reports cover stocks to buy, and other analyst calls cover stocks to sell or stocks to avoid.

Investors need to understand that we have had one massive rally in the last two weeks without a single pullback. That is just not normal. Bond yields have risen and the Federal Reserve wants to hike interest rates. Stocks are at all-time highs and the earnings multiples are also very high. Some of the key stocks that are beneficiaries of the election have even risen 15% to 20% in the last two weeks. Also, the bull market is now nearing eight years old.

These are the top analyst upgrades, downgrades and initiations seen from this Wednesday morning:

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Analog Devices, Inc. (NASDAQ: ADI) was raised to Buy from Neutral with a $85 price target (versus $72.89 close, after a 4.4% gain) at BofA Merrill Lynch. Analog Devices has a 52-week range of $47.24 to $74.87 and has a consensus analyst price target of $73.31.

First Solar, Inc. (NASDAQ: FSLR) was downgraded to Neutral from Outperform at Macquarie. First Solar rose almost 1% to $29.66 on Tuesday and was indicated down almost the same amount at $29.40 on Wednesday. First Solar also has a 52-week range of $28.60 to $74.29 and it has a consensus analyst target that has come down to about $37.00.

Hewlett Packard Enterprise Company (NYSE: HPE) was maintained as Buy but the price target was cut to $27 from $29 (versus $22.87 close) at Jefferies. Mizuho has a Neutral rating but they raised their target to $22 from $20. HP Enterprise was down 1% ahead of its mixed earnings report, and shares were indicated down 3.3% at $22.10 on Wednesday.

Intel Corp. (NASDAQ: INTC) was reiterated as Buy with a $45 price target at Argus based upon AI and deep learning sales coming next year. This was also noting a combined value in the high $40s.Intel has a 52-week range of $27.68 to $38.36 and has a consensus analyst price target of $40.26.

Urban Outfitters, Inc. (NASDAQ: URBN) was up almost 5% at $39.01 before disappointing earnings and guidance, and shares were last seen down 9.9% at $35.15 on Wednesday morning. It was reiterated as Buy with a $45 price target at Jefferies. Wedbush Securities maintained its Neutral rating and $34 target after results and margins look lower, while Wunderlich downgraded Urban Outfitters to Hold from Buy and the target was cut to $32 from $40.

You can follow @Jonogg on Twitter if you want the daily analyst calls and research updates directly on your Twitter feed.

Other key analyst upgrades and downgrades seen on Wednesday were in shares of the following companies:

Abercrombie & Fitch (NYSE: ANF) was downgraded to Sell from Hold with a $13 price target (versus $15.49 close) at Deutsche Bank. This call follows roughly 10 downgrades and target cuts in recent days.

Autoliv, Inc. (NYSE: ALV) was raised to Neutral from Sell at Goldman Sachs.

Bank of Montreal (NYSE: BMO) was raised to Neutral from Underperform at Credit Suisse.

Camden Property Trust (NYSE: CPT) was raised to Buy from Neutral at BofA Merrill Lynch.

Carnival Corporation (NYSE: CCL) was raised to Outperform from Market Perform at Sanford Bernstein.

Cognizant Technology Solutions (NASDAQ: CTSH) was downgraded to Market Perform from Outperform at William Blair.

Diplomat Pharmacy, Inc. (NYSE: DPLO) was downgraded to Underperform from Neutral at Credit Suisse.

Education Realty Trust (NYSE: EDR) was raised to Buy from Neutral at BofA Merrill Lynch.

McKesson (NYSE: MCK) was downgraded to Underperform from Neutral at Credit Suisse.

PAREXEL International Corp. (NASDAQ: PRXL) was downgraded to Market Perform from Outperform at Wells Fargo.

Koninklijke Philips N.V. (NYSE: PHG) was started as Buy at Citigroup.

Ternium S.A. (NYSE: TX) was started as Buy at Berenberg.

ZTO Express (NYSE: ZTO) was started as Overweight at J.P. Morgan.

Credit Suisse’s global equity strategy team upgraded Japanese equities to Overweight and they increased their mid-2017 Nikkei price target to 20,000.

Merrill Lynch has 5 buy and hold forever dividend payers.

Are there more worries for electric utilities in 2017?

Trump tax changes could be a boom for 5 tech giants.

Tuesday’s top analyst upgrades and downgrades were in shares of Duke Energy, Ford, GM, Huntington Bancshares, Tyson Foods and in a dozen or so more companies.

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When investors see the stock market hitting all-time highs, some of them might think that all of their stocks are doing great. That is just not always true. One instance where this is not true is Abercrombie & Fitch Co. (NYSE: ANF). Last week’s earnings report took shares down handily and now investors are close to 52-week lows. When a stock is at a 52-week low when the DJIA, S&P 500 and Nasdaq are all hitting all-time highs there might be some concern.

The company posted $0.02 in earnings per share (EPS) and $821.7 million in revenue. The consensus estimates from Thomson Reuters ahead of earnings had called for $0.21 in EPS and revenue of $830.6 million. In the same period of last year, Abercrombie posted EPS of $0.48 and $878.57 million in revenue.

A&F said in its report that its combined comparable sales for the third quarter were down 6% — net sales for the quarter decreased 13% to $358.3 million for Abercrombie and decreased 1% to $463.5 million for Hollister. Direct-to-consumer and omnichannel sales grew to roughly 23% of total company net sales, compared to 21% of total company net sales last year.

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On Monday, RBC Capital Markets downgraded Abercrombie & Fitch to Underperform from Sector Perform. They also lowered their price target to $12 from $20.

24/7 Wall St. tracked many other price target cuts seen from Friday and Monday. These have been combined to keep it simple, and the order is simply by firm name. These were the price targets seen for Abercrombie & Fitch:

• BMO Capital Markets has a Market Perform rating but cut its target price to $15 from $18.
• Cowen & Co. has a market perform rating but cuts its price target to $16 from $19.
• Deutsche Bank kept a Hold rating but cut its price target to $14 from $18.
• Jefferies maintained a Buy rating on Friday but cut its price target to $24 from $30.
• J.P. Morgan had a Neutral rating but cut its price target to $12 from $15.
• Mizuho had a Neutral rating but cut its price target to $15 from $20.
• Stifel had a Hold rating but cuts its price target to $14 from $16.
• SunTrust Robinson Humphrey maintained a Buy rating but cut its price target to $19 from $23.
• UBS has a Neutral rating but cut its target price to $15 from $18.
• Wunderlich has a Hold rating but cuts its price target to $12 from $21.

Abercrombie & Fitch closed Thursday up nearly 4% at $16.93 ahead of earnings and this was already a battered and beaten down name. What investors need to worry about here is that the $14.60 close last Friday was actually on a 13% drop that day alone. Now Abercrombie & Fitch has a 52-week range of $14.00 to $32.83.

There is a lesson to be learned hereby all retail and apparel investors. Many retailers and apparel brands become incredibly desired to the point that they can become too hot. Abercrombie & Fitch has been around for years, and there have been periods where the brand was among the most popular in America.

One issue to keep in mind is that preferences change, and retail and apparel players are almost considered to be new companies entirely two or three times a year. You can get 10 quarters great, but one quarter or two of missing the demand for apparel can wreck a company’s perception. Abercrombie & Fitch has had to endure the latter on multiple occasions over many years now.

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Equity markets seem as though they normalized after the massive post-election rally of the last two weeks. The markets were indicated up marginally on Monday morning ahead of the shortened work week. Investors are looking for new ideas to generate gains or income. It has been proven now for over five years that investors will buy selloffs and market dips.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for our readers. Some of these analyst research reports cover stocks to buy, and other analyst calls cover stocks to sell or stocks to avoid.

The headwinds that should have mattered just haven’t really mattered — rising bond yields, coming Fed rate hikes, high valuations, and a huge political upset. This bull market is now also closer to 8 years old than 7 years old.

Some of the key stocks that have been considered beneficiaries of the election have risen 15% to 20% in the last 10 days. That is not normal at all and it might mean that more selective selling or profit-taking can be seen. These are the top analyst upgrades, downgrades and initiations seen from this Monday morning:

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Abercrombie & Fitch Co. (NYSE: ANF) was downgraded to Underperform from Sector Perform and the price target was cut to $12 from $20 (versus $14.60 close on Friday, after a 13% drop) at RBC Capital Markets. Abercrombie & Fitch has a 52-week range of $14.00 to $32.83 and it has a consensus analyst price target of $18.41. There have actually been more than 10 combined price target cuts in all.

KBR, Inc. (NYSE: KBR) was raised to Buy from Neutral with a $21 price target (versus $16.25 close) at MKM Partners. KBR was recently pointed out among the many Trump infrastructure stock winners as well. KR has a 52-week range of $11.61 to $19.94 and it has a consensus analyst price target of $18.15.

3M Co. (NYSE: MMM) was downgraded to Sell from Neutral with a $159 price target (versus $172.96 close) at Goldman Sachs. 3M shares were indicated down 1.2% at $170.90 on Monday, versus a 52-week range of $134.64 to $182.27 and it has a consensus analyst price target of $179.20.

Netflix, Inc. (NASDAQ: NFLX) was started with a Buy rating and was assigned a $145 price target (versus $115.21 close) at Brean Capital. Netflix has a 52-week range of $79.95 to $133.27 and it has a consensus analyst price target of $123.13.

Starbucks Corporation (NASDAQ: SBUX) was started as Neutral at Buckingham Research. Starbucks closed at $55.77, with a 52-week range of $50.84 to $63.19 and has a consensus analyst price target of $64.54.

You can follow @Jonogg on Twitter if you want the daily analyst calls and research updates directly on your Twitter feed.

Other key analyst upgrades and downgrades seen on Monday were in shares of the following companies:

Aon Corp. (NYSE: AON) was raised to Outperform from Market Perform with a $130 price target (versus $111.96 close) at Keefe Bruyette & Woods.

Cirrus Logic Inc. (NASDAQ: CRUS) was started with a Hold rating and was assigned a $60 price target (versus $57.79 close) at Craig-Hallum.

Finish Line Inc. (NASDAQ: FINL) was downgraded to Neutral from Positive with a $23 price target (versus $23.67 close) at Susquehanna Financial.

Greif Inc. (NYSE: GEF) was downgraded to Market Perform from Outperform at Wells Fargo. Greif was downgraded from Neutral to Underperform at D.A. Davidson & Company.

Headwaters Inc. (NYSE: HW) is being acquired by Boral in Australia for $24.25 per share in cash. It was downgraded to Hold from Buy with a $23.50 price target (versus $20.09 close) at Canaccord Genuity. Wedbush also has a Neutral rating and says to take the cash at $24.25 per share in its offer.

HSBC Holdings PLC (NYSE: HSBC) was raised to Market Perform from Underperform at Bernstein. HSBC closed down 0.7% at $39.02 on Friday and its ADSs have a 52-week trading range of $28.62 to $40.74.

Investment Technology Group (NYSE: ITG) was started as Outperform and was assigned a $20 price target (versus $19.43 close) at Credit Suisse.

Melco Crown Entertainment Limited (NASDAQ: MPEL) was raised to Outperform from Neutral at Credit Suisse.

Symentec Corp. (NASDAQ: SYMC) has emerged as the winner in the buyout rumors regarding LifeLock. Oppenheimer reiterated its Outperform rating and $28 price target in a flash research note, noting that Symantec is reinvigorating its consumer division.

Tata Motors (NYSE: TTM) was raised to Outperform from Market Perform at Bernstein.

We have also featured 4 cheap stocks for an expensive stock market from Jefferies.

Friday’s top analyst upgrades and downgrades were in shares of AmEx, Citigroup, First Solar, Gap, HP Enterprise, UPS, Wells Fargo and over a dozen more companies.

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[cnxvideo id=”625482″ placement=”ros”]Now that the U.S. presidential election is over and markets have recovered to their highs, there are still some stocks holding back the markets from breaking even higher. 24/7 Wall Street has picked out a few companies posting some of the largest losses for the past week. Some companies are hitting lows and creating huge shareholder losses. There are a slew of reasons for these significant losses, whether they were brought about by missed earnings, clinical trials or even secondary offerings.

We have included a little color on why each stock has lagged, as well as a recent trading history, consensus analyst price target and a 52-week trading range.

Abercrombie & Fitch

Early Friday, Abercrombie & Fitch Co. (NYSE: ANF) reported its fiscal third-quarter financial results. Unfortunately, unlike most other retailers this quarter, Abercrombie was seriously shaken by earnings. Although the company missed estimates, perhaps the bottom line hurt the worst.

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The company posted $0.02 in earnings per share (EPS) and $821.7 million in revenue. The consensus estimates from Thomson Reuters had called for $0.21 in EPS and revenue of $830.6 million. In the same period of last year, Abercrombie posted EPS of $0.48 and $878.57 million in revenue.

Total comparable sales for the third quarter were down 6%. By brand, net sales for the quarter decreased 13% to $358.3 million for Abercrombie and decreased 1% to $463.5 million for Hollister, from the third quarter last year.

In terms of guidance for the fiscal fourth-quarter, the company expects to see “challenging” comparable sales but modestly improved from the third quarter, and gross margin down slightly from last year’s 60.7%. The consensus estimates are $1.07 in EPS and $1.07 billion in revenue for the coming quarter.

Over the past week, Abercrombie & Fitch shares retreated around 10%. The stock closed trading at $14.60 on Friday, with a consensus price target of $18.41 and a 52-week trading range of $14.00 to $32.83.

Dynavax Technologies

After Dynavax Technologies Corp. (NASDAQ: DVAX) said Monday morning that it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA), its shares crumbled. The CRL was in regards to its Biologics License Application (BLA) for its hepatitis B vaccine, Heplisav-B.

For some background: the FDA issues CRLs to communicate that it has completed a review cycle of an application and to request additional information for review and approval.

Dynavax expects a Class 2 designation for a resubmission of the BLA, which would result in a target review period of six months.

In the CRL, the FDA acknowledged that it has not yet completed its review of responses received from Dynavax in early October, including those pertaining to AESIs and the numerical imbalance in cardiac events. The responses included an extensive analysis that included independent expert consultation supporting the view that the imbalance was driven by an unexpectedly low number of events in the comparator arm. It would appear the agency could not fully assess the responses in the current review period. In the CRL, there was no request for additional clinical trials and no apparent concerns with rare serious autoimmune events.

Over the past week, shares lost nearly 60% of their value, to end the week at $4.70. The consensus price target is $26.00, and a 52-week range is $3.20 to $29.86.

Puma Biotechnology

Shares of Puma Biotechnology Inc. (NYSE: PBYI) dropped sharply on Monday following an update from its HER2 study in breast cancer with the drug neratinib. Overall, the drug improved progression free survival across the board, which was good news. However, complications arose when patients suffered from serious adverse effects, namely diarrhea.

To combat this, the company is introducing another drug in the treatment to counteract this adverse effect. Puma is now evaluating loperamid, an anti-diarrhea medicine, in conjunction with neratinib. Despite loperamide improving the incidence rate, the rates were still very high, raising concerns that the drug may be too toxic to be approved.

Shares dropped 14% last week, closing Friday at $43.25. The consensus price target is $87.00 and the 52-week range is $19.74 to $82.81.

Synthetic Biologics

This past week, Synthetic Biologics Inc. (NYSEMKT: SYN) announced the pricing for its secondary offering. The company expects to price its 25 million shares and warrants to purchase 50 million at $1.00 per share and accompanying warrants. The company expects to make $25 million from this offering.

If exercised in full, the warrants could result in additional net financing proceeds to the company of $78.8 million. The underwriter has a 30-day option to purchase up to 3.75 million additional shares of common stock and warrants to purchase up to 7.5 million additional shares of common stock. The offering was expected to close on or about November 18, 2016, subject to customary closing conditions.

The only underwriter for this offering was Cantor Fitzgerald, which also acted as the sole book-running manager.

The initial per-share exercise price of the Series A warrant is $1.43 per share, and the per-share exercise price of the Series B warrant is $1.72, each subject to adjustment as specified in the warrants.

Over the week, shares were down more than 43%. The stock closed Friday at $0.89, with a consensus price target of $6.95 and a 52-week trading range of $0.85 to $3.09.

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Abercrombie & Fitch Co. (NYSE: ANF) reported its fiscal third-quarter financial results before the markets opened on Friday. Unfortunately, unlike most other retailers this quarter, Abercrombie was seriously shaken by earnings. Although the company missed estimates, perhaps the bottom line hurt the worst.

The company posted $0.02 in earnings per share (EPS) and $821.7 million in revenue. The consensus estimates from Thomson Reuters had called for $0.21 in EPS and revenue of $830.6 million. In the same period of last year, Abercrombie posted EPS of $0.48 and $878.57 million in revenue.

Total comparable sales for the third quarter were down 6%. By brand, net sales for the quarter decreased 13% to $358.3 million for Abercrombie and decreased 1% to $463.5 million for Hollister, from the third quarter last year.

Direct-to-consumer and omnichannel sales grew to roughly 23% of total company net sales, compared to 21% of total company net sales last year.

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In terms of guidance for the fiscal fourth-quarter, the company expects to see “challenging” comparable sales but modestly improved from the third quarter, and gross margin down slightly from last year’s 60.7%. The consensus estimates are $1.07 in EPS and $1.07 billion in revenue for the coming quarter.

Arthur Martinez, executive chairman, commented:

As expected, our third quarter was challenging. While Hollister improved sequentially, it was more than offset by disappointing performance in A&F. On a total company basis, conversion trends remained positive across both channels and the direct-to-consumer business grew domestically and internationally. In addition, we remained disciplined as expense and inventory were well controlled.

On the books, Abercrombie’s cash and cash equivalents totaled $469.7 million at the end of the quarter, up from $405.6 million last year.

Shares of Abercrombie & Fitch closed Thursday up nearly 4% at $16.93, with a consensus analyst price target of $18.41 and a 52-week trading range of $14.00 to $32.83. Following the release of the earnings report, the stock was down about 12% at $14.95 in early trading indications Friday.

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The collapse of American Apparel and Aeropostale are a sign that the teen clothing retailers have taken an awful beating. However, two others in the category that might of been crushed, American Eagle Outfitters Inc. (NYSE: AEO) and Urban Outfitters Inc. (NASDAQ: URBN), instead will sail into the holidays in good shape.

American Eagle Outfitters trades at just over $18, very close to the top of its 52-week range. At $39 a share, the same is true for Urban Outfitters. It is not clear why either has done so well, particularly since their failed rivals are not the only competition. Many would argue that the leader in the category is Abercrombie & Fitch Co. (NYSE: ANF), yet at $17 a share, it trades at the bottom of its 52-week range.

In its most recently reported quarter, American Eagle’s revenue rose a modest rose 3% to $823 million. Comparable store sales rose by the same percentage, but what was impressive was that this was on comparable store sales, which increased 11% in the same quarter a year ago. The trajectory over two years is amazing. And the per-share earnings rose from $0.17 to $0.23.

The increase at the top line for Urban Outfitters was also modest, but same-store sales and earnings were strong in its most recently reported quarter. The company owns three brands: Urban Outfitters, Anthropologie and Free People. Revenue across all of them grew from $867 million to $890 million. Same-store sales for the entire operation were up 1%, but they rose by 5% at the flagship brand. Urban Outfitters delivered at the bottom line with $0.66 per share, compared to $0.52 in the year-ago period.

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Part of the success of the two companies may be discipline, including a lack of overbuilding. American Eagle has 1,000 stores and operates in the United States, Canada, China, the United Kingdom and Mexico. However, much of its activity overseas in based on online sales, which the company says brings in revenue from 81 countries.

Urban Outfitters has about 600 stores across its brands, and more specialty stores that are much smaller and presumably less expensive to operate. It also prides itself on its online operations.

Each company may benefit from the age of its customers. Younger people tend to be more comfortable shopping from smartphones and tablets. This cuts the need for aggressive brick-and-mortar expansion.

While the holidays will be a test for the two niche retailers, there are no signs they will not pass and continue to impress with their performances.

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