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Top Analyst Upgrades and Downgrades: Best Buy, Costco, PetSmart, Target and More
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It is Tuesday and stocks are trying to find direction after hitting highs last week. Investors and traders now keep hearing that the five-year old bull market has become a stock picker’s market. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week, on the lookout for new research ideas for our readers. Some analyst calls cover stocks to buy, while some of them cover stocks to sell or to avoid.
These are this Tuesday’s top Wall Street analyst upgrades, downgrades and initiations.
Advance Auto Parts Inc. (NYSE: AAP) was started as Overweight with a $150 price target at Morgan Stanley.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was started as Underweight at Morgan Stanley.
Best Buy Co. (NYSE: BBY) was started with an Overweight rating and $36 price target at Morgan Stanley.
Cabot Oil & Gas Corp. (NYSE: COG) was downgraded to Equal Weight from Overweight by Morgan Stanley.
Costco Wholesale Corp. (NASDAQ: COST) was started as Overweight with a $135 price target by Morgan Stanley.
Ctrip.com International Ltd. (NASDAQ: CTRP) was downgraded to Hold from Buy at Stifel based on lower commissions paid by airlines; shares were indicated down 5%.
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Cyberonics Inc. (NASDAQ: CYBX) was started with a Buy rating and $65 price target at Sterne Agee.
Dr. Pepper Snapple Group Inc. (NYSE: DPS) was downgraded to Neutral from Buy at Citigroup.
IDEXX Laboratories Inc. (NASDAQ: IDXX) was raised to Buy from Hold and the price target was raised to $148 from $116 at Canaccord Genuity. The call is based on valuation compared to peers.
National Retail Properties Inc. (NYSE: NNN) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.
PetSmart Inc. (NASDAQ: PETM) was started with an Underweight rating at Morgan Stanley, just a day after the stock popped 5% on a Barron’s recovery story.
Sally Beauty Holdings Inc. (NYSE: SBH) was started as Overweight and given a $30 price target at Morgan Stanley.
Target Corp. (NYSE: TGT) was started with Underweight rating and $60 price target at Morgan Stanley.
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Web.com Group Inc. (NASDAQ: WWWW) was downgraded to Neutral from Buy at B. Riley.
Williams-Sonoma Inc. (NYSE: WSM) was started as Overweight and given an $82 price target at Morgan Stanley.
In case you missed Monday’s top analyst upgrades and downgrades, they included AMD, Dish Network, Facebook, Nordstrom, SunPower and more.
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