Top Analyst Upgrades and Downgrades: ARM, Crocs, GE, NOV and More

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By Jon C. Ogg Published
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Earnings season is in full swing and equities are challenging new highs almost daily. Traders and investors are looking for stocks to buy and for ideas on which stocks to sell. 24/7 Wall St. reviews many Wall Street analyst research calls each morning, hunting for these new ideas. These are this Monday’s top analyst upgrades, downgrades and initiations seen from Wall Street research firms.

Amedisys Inc. (NASDAQ: AMED) was reiterated as Underperform with a $10 price target (versus a $16.91 close) at Credit Suisse.

ARM Holdings PLC (NASDAQ: ARMH) was downgraded to Hold from Buy at Benchmark.

Bank of Nova Scotia (NYSE: BNS) was raised to Outperform from Neutral at Credit Suisse.

Basic Energy Services Inc. (NYSE: BAS) was downgraded to Sell from Hold with a $10 price target at Wunderlich.

Choice Hotels International Inc. (NYSE: CHH) was raised to Neutral from Underperform at Credit Suisse.

Crocs Inc. (NASDAQ: CROX) was downgraded to Neutral from Overweight at Piper Jaffray.

Exelon Corp. (NYSE: EXC) was downgraded to Sell from Neutral with a $26 price target (versus a $27.96 close) at Goldman Sachs.

General Electric Co. (NYSE: GE) was reiterated as Outperform, but the price target was raised to $29 from $27, at Credit Suisse.

Generac Holdings Inc. (NYSE: GNRC) was upgraded to Neutral from Sell at Goldman Sachs.

National Oilwell Varco Inc. (NYSE: NOV) was reiterated as Outperform and the price target was raised to $103 from $89, and it was reiterated as Buy and the price target was raised to $92 from $80 at Sterne Agee.

Public Service Enterprise Group Inc. (NYSE: PEG) was downgraded to Sell from Neutral with a $32 price target (versus a $34.32 close) at Goldman Sachs.

Shoe Carnival Inc. (NASDAQ: SCVL) was downgraded to Neutral from Buy at Sterne Agee.

Sony Corp. (NYSE: SNE) was raised to Outperform from Neutral at Credit Suisse.

Transocean Ltd. (NYSE: RIG) was downgraded to Sell from Neutral with a $50 price target (versus a $49.50 close) at Goldman Sachs.

Veolia Environnement S.A. (NYSE: VE) was downgraded to Underperform from Neutral at Credit Suisse.

Credit Suisse made changes to its US Focus List: Bristol-Myers Squibb Co. (NYSE: BMY) and Vantiv Inc. (NYSE: VNTV) were added, while Automatic Data Processing Inc. (NASDAQ: ADP) and Radian Group Inc. (NYSE: RDN) were removed. The firm ranks Bristol-Myers Squibb as one of the most compelling names in its pharmaceuticals coverage universe as the best positioned to benefit from a multiyear immuno-oncology story. Vantiv is ranked as one of the most compelling names in the data/IT coverage universe.

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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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