Wall Street analysts are sticking by these stocks hit hard by the trade war

The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday. CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes. Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. Wall Street will be watching Alibaba’s earn


The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday. CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes. Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. Wall Street will be watching Alibaba’s earn
Wall Street analysts are sticking by these stocks hit hard by the trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: michael bloom
Keywords: news, cnbc, companies, war, sticking, buy, analysts, wall, earnings, trade, hard, street, tariffs, services, hit, chinese, china, company, stocks


Wall Street analysts are sticking by these stocks hit hard by the trade war

Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018.

The Dow dropped a s much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday.

CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes.

Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U.S. and China. While the two countries continue slapping tariffs on each other, many analysts say clients should use the market weakness as a time to buy these beaten down shares because the risks are overblown.

Wall Street will be watching Alibaba’s earnings report on Wednesday for any signs of the trade war effect on the Chinese e-commerce giant.

The most recent actions by the White House have brought “greater uncertainty,” to the company, but SunTrust analysts are sticking with their buy rated call. “The latest data out of National Bureau of Statistics of China suggests that the macro environment has been improving, a positive for Chinese consumption, and for BABA in particular,” analyst Youssef Squali said.

“Long term we view BABA as a winner considering 1) its dominance of the Chinese ecom. mkt and the insatiable appetite for China’s growing middle class, 2) it’s a 25%+ compounder over the next 5 yrs (our ests), and 3) its portfolio of strategic invests,” he added.

Shares of the company are down 4% over the last week.

Apple has also been hit hard by the ongoing trade uncertainty, but Wedbush analysts say things might not be as bad as they appear.

“That said, for Apple in particular we believe the way things stand today the bark will be worse than the bite for Cupertino around China headwinds and we would be buyers of the name on weakness,” said analyst Dan Ives who’s keeping his outperform rating on the stock.

Apple, which was the worst performer on the Dow on Monday, is down more than 8% over the last week.

Despite the trade dispute, Credit Suisse analysts are not backing down from their calls on some business services stocks.

Alarm.com, provides cloud services for remote control home monitoring services and has an outperform rating at the firm.

The company recently reported earnings and stated that tariffs were indeed having an effect.

“ALRM highlighted on its most recent earnings call that higher tariffs have modestly impacted hardware sales,” analyst Kevin McVeigh said.

The stock is down more than 15% over the last week.

Here are other buy-rated stocks analysts are sticking by in the trade war:


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: michael bloom
Keywords: news, cnbc, companies, war, sticking, buy, analysts, wall, earnings, trade, hard, street, tariffs, services, hit, chinese, china, company, stocks


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