Top Analyst Upgrades and Downgrades: Avago, Exelixis, Gap, Groupon, Staples, Tesla and More

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By Jon C. Ogg Published
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Stocks were firm on Tuesday morning after the Labor Day weekend. Investors remain optimistic now that the DJIA has crossed 17,000 and after the S&P 500 hit 2,000 last week. They are also looking for value and individual overlooked stocks. 24/7 Wall St. reviews dozens of research reports each morning for new ideas for our readers. Some of these research reports cover stocks to buy, while others cover stocks to sell or stocks to avoid.

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

Abengoa S.A. (NASDAQ: ABGB) was maintained as Buy and listed as a Best Idea with a $44 price target at Canaccord Genuity.

Avago Technologies Ltd. (NASDAQ: AVGO) was reiterated as Outperform by Pacific Crest, but the price target was raised to $90 from $85.

American Water Works Inc. (NYSE: AWK) was downgraded to Market Perform from Outperform at Wells Fargo.

Cabot Oil & Gas Corp. (NYSE: COG) was raised to Buy from Hold at Stifel

Exelixis Inc. (NASDAQ: EXEL) has halted its prostate cancer drug development after not meeting its endpoint, seeing its shares more than halved. The biotech was downgraded to Market Perform from Outperform at Cowen & Co.

Endo International PLC (NASDAQ: ENDP) was started with an Outperform rating at RBC Capital Markets.

Energy Transfer Partners L.P. (NYSE: ETP) was reinstated as Neutral at Credit Suisse, but the upside price target of $64 (versus a $57.45 close) hardly sounds like a Neutral rating when you consider there is also a distribution rate above 6%.

Gap Inc. (NYSE: GPS) was reiterated as Buy with a $52 price target (versus a $46.15 close) at Sterne Agee, but the firm also said Gap is its top retail pick for the second half of 2014.

Groupon Inc. (NASDAQ: GRPN) was raised to Sector Perform from Sector Underperform at RBC Capital Markets, and the price target was raised to $6 from $5 (versus a $7 close) in the call.

iDreamSky Technology Ltd. (NASDAQ: DSKY) was started with an Overweight rating and $30 price target (versus a $20.59 close) at Piper Jaffray.

READ ALSO: Just 15 Companies Have $1.2 Trillion in Combined Backlog

Life Time Fitness Inc. (NYSE: LTM) was raised to Overweight from Neutral at Piper Jaffray.

Northrop Grumman Corp. (NYSE: NOC) was raised to Outperform from Sector Perform at RBC Capital Markets, and the price target was raised to $148 from $143 (versus a $127.22 close).

Progressive Corp. (NYSE: PGR) was raised to Buy from Neutral and was given a $28 price target (versus a $25.02 close) by Goldman Sachs.

PulteGroup Inc. (NYSE: PHM) was downgraded to Market Perform from Outperform at FBR Capital Markets.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was reiterated as Outperform at Credit Suisse and the price target was raised to $400 from $340 (versus a $350.52 close).

SandRidge Energy Inc. (NYSE: SD) was raised to Buy from Hold with a $6.75 price target (versus a $5.24 close) at Stifel.

Staples Inc. (NASDAQ: SPLS) was raised to Outperform from Neutral and given a $15 price target (versus a $11.68 close) at Credit Suisse.

Tesla Motors Inc. (NASDAQ: TSLA) was raised to Buy from Hold with a $400 price target (versus a $269.70 close) at Stifel. We also asked on Monday, can Tesla become more valuable than General Motors?

READ ALSO: The Alibaba IPO Will Dominate Syndicate Market News

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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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