These are this Monday’s top analyst upgrades, downgrades and initiations from Wall Street analysts.
Alcatel-Lucent S.A. (NYSE: ALU) was raised to Overweight from Equal Weight at Morgan Stanley, after last week’s earnings took the ADSs down to under $3.40 from above $3.80.
American Electric Power Co. (NYSE: AEP) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Ares Capital Corp. (NASDAQ: ARCC) was started with an Overweight rating at J.P. Morgan.
Chevron Corp. (NYSE: CVX) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Chubb Corp. (NYSE: CB) was reiterated as Buy with a $102 price target at Argus, saying that the recent sell-off was an overreaction and has created a buying opportunity.
Diamond Offshore Drilling Inc. (NYSE: DO) was downgraded to Sell from Hold at Deutsche Bank.
Emulex Corp. (NYSE: ELX) was downgraded to Underweight from Equal Weight and the price target was cut to $6 from $7 at Barclays.
Enterprise Products Partners L.P. (NYSE: EPD) was reiterated as Buy and with an $80 price target at Argus.
Halcon Resources Corp. (NYSE: HK) was downgraded to Equal Weight from Overweight at Morgan Stanley.
La Jolla Pharmaceutical Co. (NASDAQ: LJPC) was started with a Buy rating at Jefferies.
Mellanox Technologies Ltd. (NASDAQ: MLNX) was raised to Equal Weight from Underweight at Barclays.
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Noble Corp. (NYSE: NE) was downgraded to Hold from Buy at Deutsche Bank.
Occidental Petroleum Corp. (NYSE: OXY) was raised to Overweight from Equal Weight at Morgan Stanley.
Oil States International Inc. (NYSE: OIS) was raised to Outperform from Neutral and the price target was raised to $72 from $60 at Credit Suisse.
Spirit AeroSystems Holdings Inc. (NYSE: SPR) rose to almost $37 from $33 last week on good earnings. The company was maintained as Buy and the price target was raised to $43 from $36 at Canaccord Genuity. Sterne Agee raised its estimates and reiterated its Buy rating.
Transocean Ltd. (NYSE: RIG) was downgraded to Sell from Hold at Deutsche Bank.
U.S. Steel Corp. (NYSE: X) was raised to Buy from Hold at Deutsche Bank.
In case you missed Friday’s top analyst upgrades and downgrades, they included Bed Bath & Beyond, Control4, Expedia, Hyatt, PG&E, SunPower, 3D System and about a dozen more companies. Also, Merrill Lynch has identified its top large cap stocks that were oversold even before the sell-off.
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