Let me flag some amusing commentary from Ned Davis at the outset on this one and then the usual list will follow. Via Bloomberg:
- Investors should cut equity holdings and favor stocks in Asia as policy uncertainty and higher valuations make U.S. shares vulnerable to selloffs, Ned Davis chief global investment strategist Tim Hayes wrote in note.
- Cut equity allocation 5% for balanced account, shifting money to bonds
- Recommended allocation: 65% stocks (10% overweight), 25% bonds (10% underweight), and 10% cash (marketweight)
- S&P 500’s 166-day streak without 5% pullback is longest since 2007; “Selloff is inevitable, perhaps starting very soon”
- Downgraded U.S. to underweight from marketweight, Canada to mrketweight from overweight
- Raised Pacific ex-Japan to overweight from marketweight
Via Bloomberg
- CPA: Copa Holdings Raised to Hold at Evercore ISI, PT $100
- CE: Celanese Rated New Outperform at Baird, PT $105
- CTC/A CN: Canadian Tire Raised to Buy at Canaccord, PT C$173
- M: Macy’s Raised to Overweight at Atlantic, PT $36
- POOL: Pool Corp Raised to Outperform at Baird, PT $130
- Q: Quintiles IMS Raised to Outperform at Wells Fargo
- RPXC: RPX Raised to Outperform at Baird, PT $14
- TPX: Tempur Sealy Raised to Outperform at Raymond James, PT $53
- ABCO: Advisory Board Cut to Neutral at JPMorgan, PT $48
- BBW: Build-A-Bear Cut to Neutral at Piper Jaffray, PT $10.50
- CHP-U CN: Choice Properties REIT Cut to Neutral at CIBC, PT C$15
- CIR: Circor Cut to Sector Weight at Keybanc
- CS CN: Capstone Mining Cut to Hold at Canaccord, PT C$1.70
- GEL: Genesis Energy Cut to Sector Perform at RBC, PT $38
- MDCA: MDC Partners Raised to Outperform at BMO, PT $13
- RAI: Reynolds American Cut to Hold at Jefferies, PT $60
- SLF CN: Sun Life Financial Cut to Sector Perform at RBC, PT C$51
- SPN: Superior Energy Cut to Hold at Jefferies, PT $19
- SPY: Ned Davis Cuts Equities, Downgrades U.S.; Selloff ‘Inevitable’
- TTMI: TTM Tech Cut to Neutral at JPMorgan, PT $18
- WDAY: Workday Raised to Overweight at Piper Jaffray, PT $100
- AERI: Aerie Rated New Buy at Roth Capital, PT $69
- ARCH: Arch Coal Rated New Buy at Jefferies, PT $90
- CW: Curtiss-Wright Rated New Market Perform at William Blair
- EBAY: eBay Rated New Sector Weight at Pacific Crest
- EDR CN: Endeavour Silver Rated New Buy at Noble Financial, PT $5.50
- EPI CN: Essa Pharma Rated New Buy at Noble Financial, PT $9
- GRUB: GrubHub Rated New Overweight at Pacific Crest, PT $45
- JCP: J.C. Penney Rated New Neutral at Piper Jaffray, PT $8
- JWN: Nordstrom Rated New Neutral at Piper Jaffray, PT $41
- KSS: Kohl’s Rated New Neutral at Piper Jaffray, PT $40
- MELI: MercadoLibre Rated New Overweight at Pacific Crest, PT $210
- NBRV: Nabriva Therapeutics Rated New Overweight at Cantor, PT $14
- NEE: NextEra Energy Partners Rated New Outperform at Raymond James
- PK: Park Hotels Rated New Market Perform at Wells Fargo
