Top Analyst Upgrades and Downgrades: Cisco, Cogent, Ford, Gap, Pier 1, Zynga and More

Bed Bath & Beyond (NASDAQ: BBBY) was downgraded to Neutral from Buy at Citigroup after poor earnings this week.

Chemical & Mining Co. of Chile Inc. (NYSE: SQM) was raised to Neutral from Underperform in a late Thursday night call at Bank of America Merrill Lynch, and the price target was raised to $34 from $25 in the call (versus a $30.70 close).

Cisco Systems Inc. (NASDAQ: CSCO) was started with a Buy rating and given a $27 price target (versus a $22.64 close) at SunTrust Robinson Humphreys.

Cogent Communications Group Inc. (NASDAQ: CCOI) was started with an Outperform rating and $42 price target (versus a $33.72 close) at Oppenheimer.

Corning Inc. (NYSE: GLW) was downgraded to Neutral from Buy at UBS.

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E*Trade Financial Corp. (NASDAQ: ETFC) was raised to Overweight from Underweight at Barclays.

Ford Motor Co. (NYSE: F) was raised to Buy from Hold and the price target was raised to $19 from $18.50 by Deutsche Bank.

Gap Inc. (NYSE: GPS) downgraded to Neutral from Buy at Janney Capital Markets. Canaccord Genuity also noted gross margin deterioration. Sterne Agee lowered its estimates after the poor March sales data.

International Business Machines Corp. (NYSE: IBM) was reiterated as Underperform and with a $160 price target ahead of next week’s earnings report.

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Imperva Inc. (NYSE: IMPV) was raised to Buy from Neutral with a $35 price target at Sterne Agee. This call is after a huge drop this week, and the firm feels the sell-off was overdone.

Pier 1 Imports Inc. (NYSE: PIR) was maintained as Buy after weak earnings reaction at Argus, although the price target was dropped to $23 from $25 in the call.

Shutterfly Inc. (NASDAQ: SFLY) was raised to Buy from Neutral at Goldman Sachs.

Symantec Corp. (NASDAQ: SYMC) was downgraded to Equal Weight from Overweight at Barclays.

TD Ameritrade Holding Corp. (NYSE: AMTD) was raised to Overweight from Equal Weight at Barclays.

TE Connectivity Ltd. (NYSE: TEL) was raised to Buy with a $70 price target at Merrill Lynch.

Toyota Motor Corp. (NYSE: TM) was raised to Buy from Hold at Jefferies.

Zynga Inc. (NASDAQ: ZNGA) was raised to Equal Weight from Underweight at Morgan Stanley. Sterne Agee maintained a Neutral rating, but the firm showed that Zynga’s traffic trends suggest potential upside to the first quarter.