Top Analyst Upgrades and Downgrades: Anadarko, Cisco, GameStop, Micron and More

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By Jon C. Ogg Published
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Stocks are hitting new highs, but many investors remain cautious and want to avoid the next big sell-off. 24/7 Wall St. reviews many analyst research reports each morning from Wall Street brokerage firms and independent research shops, hunting for new ideas for its readers. Some of the reports cover stocks to sell, while some cover stocks to sell or avoid. In some cases, they are simply big price target changes that investors should be aware of. These are this Friday’s top analyst upgrades, downgrades and initiations.

Anadarko Petroleum Corp. (NYSE: APC) was raised to Overweight from Underweight and the price target was raised to $129 from $84 at J.P. Morgan. It also was reiterated as Outperform and the price target was raised to $118 from $108 at Credit Suisse.

Cisco Systems Inc. (NASDAQ: CSCO) was started with an Outperform rating and a $28 price target by a firm called Northland Securities in a broader networking sector call.

GameStop Corp. (NYSE: GME) was raised to Buy from Neutral and the price target was raised to $56 from $43 at Bank of America Merrill Lynch.

Micron Technology Inc. (NASDAQ: MU) reported earnings ahead of expectations. The DRAM and flash memory king was started as Overweight with a price target of $30 at Piper Jaffray. Credit Suisse reiterated its Outperform rating and $30 price target.

Forest Oil Corp. (NYSE: FST) was reinstated as Underperform at Merrill Lynch, and the price target was set at $1.50, versus a $1.93 close. The firm says that its challenges are likely to persist with continued high cash spending and production growth under its peers.

Other Key Analyst Calls

BlackRock Inc. (NYSE: BLK) was raised to Outperform from Market Perform and the price target was raised to $370 from $350 at Keefe Bruyette & Woods.

Digital Realty Trust Inc. (NYSE: DLR) was started with an Underperform rating and was given a price target of $40 (versus a $53.12 close) by Cowen and Co.

Eldorado Gold Corp. (NYSE: EGO) was raised to Buy from Hold at Canaccord Genuity.

Hasbro Inc. (NASDAQ: HAS) was downgraded to Hold from Buy at Needham & Co.

J.P. Morgan Chase & Co. (NYSE: JPM) was raised to Outperform from Neutral by Macquarie.

Kodiak Oil & Gas Corp. (NYSE: KOG) was started as Buy with a $16 price target (versus a $12.43 close) as a leveraged Bakken Shale play at Merrill Lynch.

Potbelly Corp. (NASDAQ: PBPB) was raised to Outperform from Market Perform at William Blair after shares have sold off by almost half.

Uranium Resources Inc. (NASDAQ: URRE) was started as Buy with a $4 price target (versus a $2.93 close) at Roth Capital.

Vodafone Group PLC (NASDAQ: VOD) was downgraded to Neutral from Buy at Nomura Securities.

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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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