Facebook Inc. (NASDAQ: FB) was reiterated as Buy and the price target was raised to $73 from $63 at Argus. This comes on the heels of last week’s strong earnings reaction taking the social media giant to an all-time high, as well as coming on the heels of multiple target price upgrades from analysts as well.
Manitowoc Co. Inc. (NYSE: MTW) saw its price target raised to $33 from $29 and it was reiterated as Buy at Stifel Nicolaus. J.P. Morgan also raised its target price to $26 from $24, and Baird raised its target price to $34.
Rio Tinto PLC (NYSE: RIO) was maintained as Outperform but added to the Focus List at Credit Suisse. The firm is calling for a stronger dividend hike, higher upside and better results from cost cutting measures.
Zynga Inc. (NASDAQ: ZNGA) was downgraded to Underperform from an already cautious Neutral rating at Bank of America Merrill Lynch. The firm said a lot of execution is already priced into the stock, and it believes there is downside risk for 2014 guidance. Based on a premium over traditional game makers, the firm has a $3.80 price target, versus a $4.40 close.
Other Analyst Calls Worth Noting
Applied Materials Inc. (NASDAQ: AMAT) was downgraded to Sector Perform from Outperform and the price target was cut to $18 from $20 at RBC Capital Markets.
Eaton Vance Corp. (NYSE: EV) was downgraded to Sell from an already cautious Neutral rating and the price target was slashed to $33 from $45 at Goldman Sachs.
KLA-Tencor Corp. (NASDAQ: KLAC) was downgraded to Sector Perform from Outperform and the price target was cut to $65 from $68 at RBC Capital Markets.
Lam Research Corp. (NASDAQ: LRCX) was downgraded to Sector Perform from Outperform and the price target was cut to $57 from $62 at RBC Capital Markets.
NVIDIA Corp. (NASDAQ: NVDA) was raised to Neutral from Negative at Susquehanna.
NetApp Inc. (NASDAQ: NTAP) was raised to Overweight from Neutral and the price target was raised to $52 from $38 (versus a $42.34 close) at Piper Jaffray.
Norfolk Southern Corp. (NYSE: NSC) was raised to Outperform from Market Perform at Wells Fargo. Argus maintained a Hold rating and said that its own fair value calculation was $86 per share, short of the $92.59 closing price.
Royal Dutch Shell PLC (NYSE: RDS-A) was downgraded to Neutral from Overweight at HSBC.
Wal-Mart Stores Inc. (NYSE: WMT) was reiterated as Buy and with a $90 price target (versus a $75.02 close) at Merrill Lynch. This is listed as its favorite defensive stock despite lower guidance.
Whole Foods Market Inc. (NASDAQ: WFM) was raised to Overweight from Neutral with a $61 price target (versus a $52.26 close) at Piper Jaffray.
Top Gaining Stocks
Top Losing Stocks