These are this Wednesday’s top analyst upgrades, downgrades and initiations covered by 24/7 Wall St.
American Electric Power Co. (NYSE: AEP) was reiterated as Buy with a price target of $59 (versus a $53.63 close) at Argus, based on cost cuts and leverage to the economy.
Anheuser-Busch InBev S.A./N.V. (NYSE: BUD) was raised to Hold from Sell at Societe Generale.
BHP Billiton Ltd. (NYSE: BHP) was downgraded to Underperform from Neutral at BNP Paribas.
DaVita Healthcare Partners Inc. (NYSE: DVA) was downgraded to Hold from Buy at KeyBanc Capital Markets.
General Electric Co. (NYSE: GE) was started as Buy with a $30 price target (versus a $26.21 close) at Stifel.
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GNC Holdings Inc. (NYSE: GNC) was raised to Outperform from Neutral and the price target was raised to $46 from $34 (versus a $39.16 close) at Wedbush.
Incyte Corp. (NASDAQ: INCY) was maintained as Buy with a target price of $85 at Argus. Now that shares are under $50, the firm sees the weakness as a buying opportunity based on a strong drug pipeline and move to profitability.
Kellogg Co. (NYSE: K) was downgraded to Hold from Buy at Societe Generale.
Mobile TeleSystems OJSC (NYSE: MBT) fell after its Russian billionaire controlling holder was arrested. Now it was downgraded to Neutral from Overweight at J.P. Morgan.
Mondelez International Inc. (NASDAQ: MDLZ) was raised to Buy from Hold with a $43 price target (versus a $35.54 close) at Societe Generale.
3M Co. (NYSE: MMM) was started as Hold at Stifel.
Ryerson Holding Corp. (NYSE: RYI) was started as Buy and given a $16 price objective (versus a $11.61 close) at Bank of America Merrill Lynch.
Skullcandy Inc. (NASDAQ: SKUL) was started as Overweight with a $9.50 price target (versus a $7.58 close) at Piper Jaffray.
Tyco International Ltd. (NYSE: TYC) was started as Hold at Stifel.
Under Armour Inc. (NYSE: UA) was raised to Overweight from Neutral and the price target was raised to $78 from $63 (versus a $67.75 close) at Piper Jaffray.
United Technologies Corp. (NYSE: UTX) was started as Hold at Stifel.
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Credit Suisse’s Global Equity Strategy raised its year-end equity targets: S&P 500 to 2,050 from 2,020; Euro Stoxx to 3,450 from 3,400; and Nikkei to 17,000 from 16,500. Still, in 2015 the S&P 500 target has a mid-year level of 2,200 and a 2015-end target of 2,100, as the firm sees a high probability of a second half correction as the Fed raises rates and U.S. profit margins peak against a backdrop of full employment.
In case you missed Tuesday’s top analyst upgrades and downgrades, they included shares of Arch Coal, Coca-Cola, Duke Energy, Microsoft, Oracle, Visa and a dozen or so more.
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