Top Analyst Upgrades and Downgrades: Akamai, Avago, MannKind, Pandora, Randgold and More

Photo of Jon C. Ogg
By Jon C. Ogg Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

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.

READ MORE: Why the AmEx Dividend Hike Is Still Too Low

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.

READ MORE: Merrill Lynch’s Top Water Stocks to Buy

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.

Photo of Jon C. Ogg
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.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618