Alcoa Inc. (NYSE: AA) was started with a Buy rating and given a $15 price target (implying 26% upside from the $11.89 close) at Sterne Agee. Of particular note is that Sterne Agee gives it a $22 long-term valuation target, as each of its markets will enjoy independent secular trends.
Atmel Inc. (NASDAQ: ATML) was started with a Buy rating and an $11 price target (implying about 38% upside from the $7.99 close) at Bank of America Merrill Lynch. Atmel’s consensus price target is only $8.77, and the prior highest target was $10 before this new call.
NetApp Inc. (NASDAQ: NTAP) was maintained as a Buy with its $50 price target at Argus after the company announced 600 layoffs. The consensus price target is closer to $44, and this week we said this was more evidence of the death of growth at NetApp.
Plug Power Inc. (NASDAQ: PLUG) was downgraded to Neutral from Buy at Roth Capital. As a reminder, Plug Power was slammed hard this week in a Stocklemon report by Citron Research.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Equal Weight from Underweight at Morgan Stanley, and it was also raised to Neutral from Underweight at J.P. Morgan.
Other Key Analyst Calls
AngloGold Ashanti Ltd. (NYSE: AU) was downgraded to Underperform from Neutral at Macquarie.
BP PLC (NYSE: BP) was reiterated as Buy at Deutsche Bank after the U.S. EPA cleared the company to begin working with the federal government again.
China Biologic Products Inc. (NASDAQ: CBPO) was started with an Outperform at Oppenheimer.
Harmony Gold Mining Co. (NYSE: HMY) was downgraded to Underperform from Neutral at Macquarie.
Lowe’s Companies Inc. (NYSE: LOW) was raised to Outperform from Perform at Oppenheimer.
Nucor Corp. (NYSE: NUE) was downgraded to Neutral from Outperform and the $55 price target was cut to $50 at Credit Suisse.
Turkcell Iletisim Hizmetleri A.S. (NYSE: TKC) was raised to Buy from Neutral at UBS.
U.S. Steel Co. (NYSE: X) was downgraded to Underperform from Neutral at Credit Suisse
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