Top Analyst Upgrades and Downgrades: HP, InterMune, MeetMe, Tesla and More

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By Jon C. Ogg Published
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Stocks were firm on Thursday, another indication that stocks are rising on thin trading volume. Investors have still be repositioning themselves and have been nibbling on stocks when they see a good value or story. 24/7 Wall St. reviews dozens of research reports each morning of the week, on the hunt for new investment and trading ideas for our readers. Some of the analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.

These are this Thursday’s top analyst upgrades and downgrades from 24/7 Wall St.

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Buy from Neutral with a $15 price target at Janney Capital Markets. It was also raised to Buy from Neutral with a $16 price target at SunTrust Robinson Humphrey. Bank of America Merrill Lynch reiterated its Neutral rating but raised its price target to $14 from $12.

Cameco Corp. (NYSE: CCJ) was downgraded to Market Perform from Outperform with a $20 price target at Cowen.

Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Underperform from Buy and the price target was cut to $42 (versus a $44.47 close) at Merrill Lynch.

Dick’s Sporting Goods Inc. (NYSE: DKS) was reiterated with a Buy rating and a $55 price target at Argus, but the firm shows it as a favorable value after earnings with a current $45.04 share price.

Federated Investors Inc. (NYSE: FII) was started as Buy with a $35 price target at Jefferies.

Hewlett-Packard Co. (NYSE: HPQ) was reiterated as Buy and the price target was raised to $40 from $39 at Merrill Lynch. Credit Suisse maintained its Neutral rating and $35 price target.

InterMune Inc. (NASDAQ: ITMN) was downgraded to Market Perform from Outperform with a $50 to $52 price range at Wells Fargo.

International Rectifier Corp. (NYSE: IRF) rose almost 50% on Wednesday as Infineon is acquiring the company. The stock was downgraded to Market Perform from Strong Buy at Raymond James. Goldman Sachs raised its rating to Neutral from Sell.

Lowe’s Companies Inc. (NYSE: LOW) was reiterated as Buy and the price target was raised to $61 from $59 at Merrill Lynch.

Madison Square Garden Co. (NASDAQ: MSG) was downgraded to Hold from Buy at Stifel.

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MeetMe In. (NASDAQ: MEET) initiated with an Outperform at JMP Securities.

Photronics Inc. (NASDAQ: PLAB) was raised to Buy from Hold at Needham & Co.

Procter & Gamble Co. (NYSE: PG) was reiterated as Buy with a $92 price target at Argus, which talked up P&G’s chances of margin expansion into the disposal of the 90 to 100 brands.

Staples Inc. (NASDAQ: SPLS) was reiterated as Underperform with a $9 price target (versus a $11.32 close) at Merrill Lynch.

Target Corp. (NYSE: TGT) was reiterated as Underperform with a $50 price target (versus $60.33 close) at Merrill Lynch.

Tesla Motors Inc. (NASDAQ: TSLA) was started as Outperform with a $300 price target at CLSA in a report from Wednesday evening.

Tiffany & Co. (NYSE: TIF) was reiterated as Buy with a $108 price target (versus a $99.47 close) at Sterne Agee. The report is on the heels of Tiffany debuting its new T Collection this week.

ALSO READ: 6 Biotech Analyst Stock Picks for 100% Upside Calls

In case you missed Wednesday’s top analyst upgrades and downgrades, they included Activision, BHP Billiton, Dunkin’ Brands, Hertz, JetBlue, Panera Bread and more.

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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.

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