With the Dow Jones Industrial Average and S&P 500 hitting new all-time highs, investors want upside but they also want to avoid the next trap. Market pundits and portfolio managers alike now keep calling this a stock picker’s market. Each morning of the week, 24/7 Wall St. reviews dozens of research reports from analysts and independent firms for new ideas. Some are stocks to buy while others are stocks to sell or avoid. These are this Wednesday’s top Wall Street analyst upgrades, downgrades and initiations.

Akamai Technologies Inc. (NASDAQ: AKAM) was raised to Outperform from Sector Perform with a $65 price target (versus a $53.30 close) at Pacific Crest Securities.

Autodesk Inc. (NASDAQ: ADSK) was raised to Buy from Hold at Canaccord Genuity.

Avago Technologies Ltd. (NASDAQ: AVGO) was started as Buy with an $80 price target at Deutsche Bank, a day after Nomura raised its price target to $75.

Chemical & Mining Co. of Chile Inc. (NYSE: SQM), or Sociedad Quimica, was downgraded to Underperform from Neutral at Credit Suisse.

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Harmony Gold Mining Co. (NYSE: HMY) was raised to Overweight from Neutral at J.P. Morgan, a day after Zacks also raised its rating to Neutral from Underperform.

MannKind Corp. (NASDAQ: MNKD) was raised to Neutral from Underweight by Piper Jaffray.

Pandora Media Inc. (NYSE: P) was raised to Outperform from Market Perform at Raymond James, and it was named a top mobile Internet pick at Bank of America Merrill Lynch on Tuesday.

PNC Financial Services Group Inc. (NYSE: PNC) was started with a Buy rating and a $105 price target at Nomura Securities.

Randgold Resources Ltd. (NASDAQ: GOLD) was downgraded to Neutral from Overweight by J.P. Morgan.

Royal Caribbean Cruises Ltd. (NYSE: RCL) was raised to Buy from Neutral at SunTrust Robinson Humphrey.

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Rubicon Project Inc. (NYSE: RUBI) up more than 10% after earnings, and we have seen two upgrades so far: it was raised to Outperform from Perform at Oppenheimer and to Outperform from Sector Perform at RBC Capital Markets.

Teekay Tankers Ltd. (NYSE: TNK) was downgraded to Underperform from Neutral by Merrill Lynch.

Walgreen Co. (NYSE: WAG) was downgraded to Market Perform from Outperform by Cowen.

Western Digital Corp. (NASDAQ: WDC) was raised to Overweight from Equal Weight at Barclays.

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