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Top Analyst Upgrades and Downgrades: Abengoa Yield, CSC, Groupon, 3M, Vertex, Williams, Xerox and More
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Stocks were lower again on Tuesday ahead of the unofficial launch of earnings season and after the DJIA 17,000 milestone was hit for the first time ever last week. Now many investors are trying to decide if this is becoming a stock picker’s market or yet another leg up in a bull market that is now over five years old. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week for new ideas for our readers. Some of the analyst research reports cover stocks to buy, and some of them cover stocks to sell or to avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations from Wall Street firms.
Abengoa Yield PLC (NASDAQ: ABY) was started as Buy at Bank of America Merrill Lynch, started as Outperform with a $44 price target at RBC, started as Buy with a $49 price target at Canaccord Genuity and started with a Buy rating at Citigroup.
Apartment Investment and Management Co. (NYSE: AIV) was raised to Buy from Neutral at UBS.
Computer Sciences Corp. (NYSE: CSC) was started as Underweight at Morgan Stanley.
The Fresh Market Inc. (NASDAQ: TFM) was downgraded to Sell from an already cautious Neutral rating at Goldman Sachs.
Groupon Inc. (NASDAQ: GRPN) was raised to Buy from Neutral with a $9.50 price target (versus a $6.45 close) at B. Riley.
Guess? Inc. (NYSE: GES) was raised to Overweight from Neutral and the price target was raised to $32 from $25 (versus a $27.39 close) at Piper Jaffray.
Horsehead Holding Corp. (NASDAQ: ZINC) was downgraded to Market Perform from Outperform with a $21 price target (versus a $18.37 close) at FBR Capital Markets.
3M Co. (NYSE: MMM) was raised to Buy from Hold and given a blended valuation of $160 per share (versus a $144.91 close) at Argus.
RCS Capital Corp. (NYSE: RCAP) was started as Neutral with a $24 price target (versus a $22.22 close) at Merrill Lynch.
Rio Tinto PLC (NYSE: RIO) was raised to Overweight from Equal Weight by Barclays.
ALSO READ: RBC Top Stock Picks From Global Ideas List
T-Mobile US Inc. (NYSE: TMUS) was started with an Outperform rating and $40 price target (versus a $32.99 close) at BMO Capital Markets.
Verastem Inc. (NASDAQ: VSTM) was started as Perform at Oppenheimer.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was downgraded to Perform from Outperform by Oppenheimer.
Waddell & Reed Financial Inc. (NYSE: WDR) was started with an Outperform rating at William Blair. It was also raised to Buy from Neutral and given an $80 price target at Sterne Agee.
Williams Companies Inc. (NYSE: WMB) was added to the US Focus List at Credit Suisse, and it was named as one of the firm’s top investment ideas. The firm has a $69 price target (versus $a 57.70 close), but it believes that a yield discounting target of 3% ahead could get the stock closer to $80.
Xerox Corp. (NYSE: XRX) was started with an Overweight rating and given a $15 target price (versus a $12.21 close) at Morgan Stanley.
ALSO READ: 13 Analyst Stocks Trading Under $10 With Massive Upside
On the DJIA move last week and brief profit taking seen so far, we have two DJIA features after new highs were hit above 17,000. One is what could drive the DJIA back down to 15,000 in a hurry and the second is how only 11 stocks could drive the DJIA up to 20,000.
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