$AMAT, $BAC, $C, $JPM, $OC, $WY
Below is a list of stocks analysts have singled out to look at carefully Tuesday, as follows:
Applied Materials Inc. (NASDAQ:AMAT) Argus joined other analysts by reiterating its Buy rating and raising its target price to $72.
Bank of America Corp. (NYSE:BAC) was reiterated as Overweight and the target price was raised to 38 from 35 (versus a $32.93 prior at Morgan Stanley.
Citigroup Inc. (NYSE:C) was reiterated as Overweight and the target price was raised to 90 from at Morgan Stanley.
JPMorgan Chase & Co. (NYSE:JPM) was reiterated as Overweight and the target price was raised to 141 from 138 at Morgan Stanley.
Owens Corning (NYSE: OC) was raised to Outperform from Market Perform with a $77 target price (versus a $65.15 close) at Wells Fargo.
Weyerhaeuser Co. (NYSE:WY) was reiterated as Buy and its target price was raised to 32 from 27 at Argus.
Credit Suisse is out with its Y 2020 outlook efforts, calling for earnings per share to improve and for price-to-earnings ratios to expand. The firm is initiating its 2020 S&P 500 price target of 3,425, which represents 9.8% upside from current marks and is based on an per-share earnings of $164.50 in 2019 (reduced from $166.50) and $173 per share in 2020 (reduced from $176) and imply earnings per share growth of 5.2% next year (from just 1% in 2019). The firm projects that the forward multiple will expand to 18.9 times by year-end 2020 from 18.1 times currently. Several assumptions are key to its 2020 outlook:
1) revenues to advance in-line with nominal GDP;
2) margin headwinds to be substantially less onerous;
3) buybacks to remain abundant;
4) reversal of decelerating economics to support multiple expansion.
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