$C, $ELAN, $NEM, $NWSA, $TME, $VFC, $GWW
Daily HeffX-LTN reviews dozens of the Street’s Key analysts research reports to ID new trading and investing ideas for HeffX-LTN readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid.
Below is a list of The Street’s Key analysts outlook for Key issues for Wednesday as follows:
Elanco Animal Health Inc. (NYSE:ELAN) was started with a Buy rating and assigned a $37 price target at Argus. The firm’s report sees Elanco as likely to experience some initial growing pains as a standalone public company but it should generate strong earnings growth over time.
Newmont Mining Co. (NYSE:NEM) Canaccord Genuity raised the stock to Buy from Hold and boosted its price target to 42 from 37. Credit Suisse reiterated its Outperform rating with a 46 price target.
News Corp. (NASDAQ:NWSA) was raised to Buy from Neutral at Citigroup.
Tencent Music Entertainment Group (NYSE:TME) was started as Equal Weight and assigned a $15 price target (versus a $12.20 close, after a 5.3% drop) at Morgan Stanley.
VF Corp. (NYSE:VFC) was reiterated as Outperform at Credit Suisse. The firm noted that the stock has pulled back 18% since its Q-2 earnings report on fears that the VF’s momentum is slowing against tougher 2-H comparisons. The firm expects some modest slowing, but thinks there is upside potential for the North Face and Timberland brands, and it also remains positive on VF’s aggressive value creation agenda.
WW Grainger Inc. (NYSE:GWW) was raised to Outperform from Neutral at Macquarie. Shares closed down 1.1% at 281.21 ahead of the call, and the consensus target price was 309.81. The 52-wk trading range is 223.25 – 372.06.
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