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Top Analyst Upgrades and Downgrades: FireEye, Microsoft, Qualcomm, Tesla and More
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Earnings season is in full swing and we are supposed to be very close to a deal to reverse the federal government shutdown and to a deal on the debt ceiling. Investors have to be wondering which stocks to buy and which ones to sell. Each morning, 24/7 Wall St. reviews dozens of Wall Street analyst research reports looking for new ideas for our readers. These are this Tuesday’s top analyst upgrades, downgrades and initiations seen from Wall Street research firms.
Advance Auto Parts Inc. (NYSE: AAP) was started as Underperform at Wedbush.
Coronado Biosciences Inc. (NASDAQ: CNDO) was downgraded to Hold from Buy and the price target was slashed all the way down to $2 from $18 by Canaccord Genuity after Monday’s implosion after its Crohn’s disease trial missed its endpoints.
FireEye Inc. (NASDAQ: FEYE) must have had too much of a premium IPO because the underwriting firms’ analysts were not positive across the board at the quiet period expiration. UBS and Goldman Sachs both started the security company at Neutral, Barclays and Morgan Stanley started it as Equal Weight, J.P. Morgan started it as Overweight and Bank of America Merrill Lynch started it as Buy.
Ford Motor Co. (NYSE: F) was reiterated as Buy with a $23 price target at Argus.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was raised to Buy from Neutral at Macquarie.
Microsoft Corp. (NASDAQ: MSFT) was raised to Buy from Hold and the price target was raised to $42 from $33 at Jefferies.
Qualcomm Inc. (NASDAQ: QCOM) was started as Buy with an $80 price target at Stifel Nicolaus.
Teradata Corp. (NYSE: TDC) missed earnings estimates and shares were battered down to about $44 after closing at $52.58 for a new 52-week low. The stock has been downgraded at Sterne Agee, Morgan Stanley, Credit Suisse and likely at other firms as well.
Tesla Motors Inc. (NASDAQ: TSLA) was raised to Outperform from Neutral with a $240 price target at Wedbush. The firm raised the 2017 targets by about 50%, but this is based on mass market electric vehicle launches.
Tidewater Inc. (NYSE: TDW) was raised to Buy with a $69 price target at Argus.
Transocean Ltd. Co. (NYSE: RIG) was downgraded to Hold with a weaker outlook at Argus.
Veeco Instruments Inc. (NASDAQ: VECO) was downgraded to Perform from Outperform at Oppenheimer.
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