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Top Analyst Downgrades, Stocks to Sell: Cisco, Exelon, Invesco, SPX and More

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By Jon C. Ogg Published
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Bull and Bear
Jon Ogg
Investors are trying to figure out which stocks they should buy, sell or avoid now that the government shutdown is two weeks old and the debt ceiling debate is stalling yet again. These investors often hear ideas for stocks to buy, but they often do not get told when to sell or avoid a stock. 24/7 Wall St. reviews many fresh research calls each and every day to find great ideas, and we have broken out the negative and cautious analyst calls today as the stocks to sell, according to those research reports. These are Wednesday’s top analyst downgrades and cautious research notes from Wall Street.

Achillion Pharmaceuticals Inc. (NASDAQ: ACHN) was downgraded to Neutral from Outperform at Credit Suisse.

Allegheny Technologies Inc. (NYSE: ATI) was started as Underperform with a $27 price target (versus a $32.03 close) at Sterne Agee.

AK Steel Holding Corp. (NYSE: AKS) was started as Underperform with a $3 price target (versus a $4.36 close) at Credit Suisse.

Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Neutral from Buy at MKM Partners.

CoreSite Realty Corp. (NYSE: COR) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.

Exelon Corp. (NYSE: EXC) was downgraded to Underweight from Overweight with a $21 price target (versus a $29.52 close) at Morgan Keegan.

Invesco Ltd. (NYSE: IVZ) was downgraded to Neutral from Buy at Sterne Agee.

Schlumberger Ltd. (NYSE: SLB) was downgraded to Neutral at HSBC.

SPX Corp. (NYSE: SPW) was reinstated as Underperform with an $85 price target (versus a $84.29 close) at Bank of America Merrill Lynch.

Superior Energy Services Inc. (NYSE: SPN) was downgraded to Hold from Buy at Jefferies.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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