These are this Monday’s top analyst upgrades, downgrades and initiations from Wall Street firms.
AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) is down close to 30% after a complete response letter from the FDA rejecting its painkiller dispensing device. Canaccord Genuity cut its rating to Hold from Buy and slashed its price target to $8 from $16.
Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Sector Perform from Outperform at Pacific Crest.
CIT Group Inc. (NYSE: CIT) was raised to Overweight from Equal Weight at Morgan Stanley.
DSW Inc. (NYSE: DSW) was downgraded to Underperform from Neutral and given a downside target of $23 (versus a $27.16 close).
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El Paso Electric Co. (NYSE: EE) was downgraded to Hold from Buy at Jefferies, and the price target was cut to $39 from $44 (versus a $38.72 close).
Enphase Energy Inc. (NASDAQ: ENPH) was downgraded to Hold from Buy with an $11 target price (versus a $11.43 close) at Deutsche Bank. Keep in mind that this remains one of the 24/7 Wall St. 7 small cap alternative energy stocks with massive upside potential.
GlaxoSmithKline PLC (NYSE: GSK) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.
Juniper Networks Inc. (NYSE: JNPR) was raised to Outperform from Market Perform with a $30 price target (versus a $23.25 close) at Bernstein. Keep in mind that Juniper fell 10% last week before recovering about one-third of its losses. Argus also reiterated its Buy rating.
NRG Energy Inc. (NYSE: NRG) was maintained as Buy but was removed from the prized Conviction Buy List at Goldman Sachs. The firm lowered the price target to $36 from $40 (versus a $31.35 closing price).
NuStar Energy L.P. (NYSE: NS) was raised to Outperform from Neutral at Credit Suisse.
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Pfizer Inc. (NYSE: PFE) was downgraded to Market Perform from Outperform at BMO Capital Markets, and the price target was cut to $31 from $34 (versus a $30.19 close).
Safeguard Scientifics Inc. (NYSE: SFE) was raised to Overweight from Equal Weight at First Analysis.
Semtech Corp. (NASDAQ: SMTC) was raised to Strong Buy from Outperform with a $29 price target (versus a $21.80 close) at Raymond James.
Time Warner Cable Inc. (NYSE: TWC) was raised to Buy with a $190 price target at Wunderlich.
WellCare Health Plans Inc. (NYSE: WCG) was raised to Neutral from Sell at Sterne Agee.
Xerox Corp. (NYSE: XRX) was raised to Neutral from Underweight at J.P.Morgan.
Zimmer Holding (NYSE: ZMH) was raised to Outperform from Perform at Oppenheimer and was give a $118 price target (versus a $100.81 close).
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In case you missed Friday’s top analyst upgrades and downgrades, these included Amazon.com, Brighcove, Deckers, Exxon Mobil, GM, Mylan, Twitter and many more. We also have a preview set for the key second-quarter GDP report due on Wednesday morning.
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