Investing
Top Analyst Upgrades and Downgrades: Allergan, Rackspace, Baker Hughes, Time Warner and More
Published:
The Dow Jones Industrial Average hit a new high on Monday, but many investors remain wary. They want upside, but they want to avoid the next earnings trap and do not want to buy at the top. Now strategists are calling it a stock picker’s market rather than a raging bull market. 24/7 Wall St. reviews dozens of research reports from analysts each morning of the week for new ideas for its readers. These are this Tuesday’s top Wall Street analyst upgrades, downgrades and initiations.
Allergan Inc. (NYSE: AGN) was reiterated as Outperform with a $190 price and raised earnings estimates at Credit Suisse.
Baker Hughes Inc. (NYSE: BHI) was downgraded to Market Perform from Outperform by Bernstein.
BE Aerospace Inc. (NASDAQ: BEAV) was downgraded to Neutral from Overweight at J.P. Morgan.
Bridgepoint Education Inc. (NYSE: BPI) was raised to Hold from Sell at Deutsche Bank.
magicJack VocalTec Ltd. (NASDAQ: CALL) was reiterated as Buy but the target price was cut to $22 by Canaccord Genuity.
READ MORE: Credit Suisse Identifies Big Merger Candidates in Retail
Nabors Industries (NYSE: NBR) was downgraded to Market Perform from Outperform by Bernstein, but the price target was raised to $25 from $24.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) was raised to Buy from Hold and given a $100 price target by BNP Paribas.
Rackspace Hosting Inc. (NYSE: RAX) was maintained as Outperform at Credit Suisse after earnings, but estimates were lowered and the target price was cut to $40 from $49. Oppenheimer maintained its Outperform rating and $62 price target.
Salesforce.com Inc. (NYSE: CRM) was reiterated as Buy with a $73 price target at Bank of America Merrill Lynch, with the firm saying that the growth opportunity remains intact ahead of next week’s earnings report.
READ MORE: Recent Analyst Stock Picks Under $10 for Big Upside
Time Warner Inc. (NYSE: TWX) was raised to Outperform from Market Perform and the price target was raised to $84 from $73 at Bernstein.
Tractor Supply Co. (NASDAQ: TSCO) was downgraded to Hold from Buy Argus.
Ubiquiti Networks Inc. (NASDAQ: UBNT) was raised to Strong Buy from Outperform with a $50 price target (versus a $31.57 close) at Raymond James.
Weibo Corp. (NASDAQ: WB) was started as Buy at Goldman Sachs on Tuesday, after having been given an Overweight rating by Piper Jaffray on Monday.
W.W. Grainger Inc. (NYSE: GWW) was started as Overweight by Morgan Stanley.
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.