Top Analyst Upgrades and Downgrades: AMC, ADP, Barrick, Cree, Rackspace, Walmart and More

Investing

Published: September 15, 2014 8:15 am

Stocks were looking for direction Monday morning after having pulled back off of all-time highs. Investors are still looking for opportunities. 24/7 Wall St. reviews dozens of analyst reports each morning, on the hunt for new investment and trading ideas for its readers. Some of these analyst reports feature stocks to buy, but others cover stocks to sell or to avoid.

These are this Monday’s top analyst upgrades, downgrades and initiations covered by 24/7 Wall St.

AMC Entertainment Holdings Inc. (NYSE: AMC) was raised to Overweight from Equal Weight and its price target was raised to $29 from $24 (versus a $24.61 close) at Barclays.

Abaxis Inc. (NASDAQ: ABAX) was raised to Buy from Hold and the price target was raised to $60 from $40 at Canaccord Genuity.

Acuity Brands Inc. (NYSE: AYI) was raised to Buy from Neutral at Goldman Sachs.

Automatic Data Processing Inc. (NASDAQ: ADP) was maintained as Outperform and the price target was raised to $91 from $83 at Credit Suisse.

Barrick Gold Corp. (NYSE: ABX) was raised to Neutral from Underweight at HSBC.

Continental Resources Inc. (NYSE: CLR) was started as Buy with a $92 price target at Canaccord Genuity.

Costco Wholesale Corp. (NASDAQ: COST) was started as Buy with a $150 price target (versus a $125.37 close) at Citigroup. Be advised that this new target is now $14 above what appeared to be the prior street-high analyst target price.

Cree Inc. (NASDAQ: CREE) was downgraded to Neutral from Buy and the price target was cut to $48 from $60 (versus a $42.68 close) at Goldman Sachs.

Rackspace Hosting Inc. (NYSE: RAX) was downgraded to Neutral from Overweight at J.P. Morgan.

Symantec Corp. (NASDAQ: SYMC) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Target Corp. (NYSE: TGT) was started as Neutral with a $66 price target at Citigroup

TransCanada Corp. (NYSE: TRP) was downgraded to Sell from Neutral at Goldman Sachs.

Veeco Instruments Inc. (NASDAQ: VECO) was raised to Neutral from Sell and the price target was raised to $35 from $30 (versus a $34.50 close) at Goldman Sachs.

Wal-Mart Stores Inc. (NYSE: WMT) was started as Neutral with a $80 price target at Citigroup.

Here are the 11 recent analyst stocks under $10 with massive upside calls.

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