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Top Analyst Upgrades and Downgrades: AmEx, Baidu, BofA, Citi, Lululemon, Netflix, Tiffany and More
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Stocks were getting smacked lower again on Thursday morning. While that elusive 10% market correction is closer and closer to fruition, investors still are willing to keep buying value and overlooked stocks on the dips. Each morning of the week, 24/7 Wall St. reviews dozens of analyst reports on a hunt for new investment and trading ideas for our readers. Some of the analyst reports cover stocks to buy, and others cover stocks to sell or to avoid.
These are this Thursday’s top analyst upgrades and downgrades featured by 24/7 Wall St. With markets so weak, many of the upgrades are still trading lower.
Air Products & Chemicals Inc. (NYSE: APD) was raised to Outperform from Neutral at Credit Suisse.
Akamai Technologies Inc. (NASDAQ: AKAM) was cut to Market Perform from Outperform at Wells Fargo.
American Express Co. (NYSE: AXP) was raised to Neutral from Underweight at J.P. Morgan.
Aquinox Pharmaceuticals Inc. (NASDAQ: AQXP) was started as Buy and given a $12 price target at Canaccord Genuity.
Baidu Inc. (NASDAQ: BIDU) was raised to Outperform from Perform and it was given a $280 price target (versus a $205.73 close) at Oppenheimer.
Bank of America Corp. (NYSE: BAC) was raised to Outperform from Market Perform at FBR Capital Markets.
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Bristol-Myers Squibb Co. (NYSE: BMY) was raised to Outperform from Market Perform at BMO Capital Markets.
Citigroup Inc. (NYSE: C) was raised to Hold from Sell at Argus after earnings.
CSX Corp. (NYSE: CSX) was raised to Outperform from Neutral at Credit Suisse.
FireEye Inc. (NASDAQ: FEYE) was raised to Overweight from Neutral at JPMorgan.
Illumina Inc. (NASDA: ILMN) was raised to Overweight from Neutral at Piper Jaffray.
Lululemon Athletica Inc. (NASDAQ: LULU) was cut to Underperform from Neutral at Macquarie.
Netflix Inc. (NASDAQ: NFLX) was raised to Hold from Underperform at Jefferies and downgraded to Fair Value from Buy at CRT Capital. Canaccord Genuity maintained its Buy rating, but the price target was cut to $450 from $550. It was maintained as Neutral at Sterne Agee.
Targa Resources Corp. (NYSE: TRGP) was raised to Buy from Neutral at UBS.
Tiffany & Co. (NYSE: TIF) was raised to Outperform from Neutral at Macquarie.
Time Warner Inc. (NYSE: TWX) was raised to Buy from Neutral at Bank of America Merrill Lynch.
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Urban Outfitters Inc. (NASDAQ: URBN) was cut to Neutral from Outperform and the price target was cut to $39 from $43 (versus a $34.69 close) at Macquarie.
Wells Fargo & Co. (NYSE: WFC) was raised to Buy from Hold with a $54 price target (versus a $47.85 close) at Argus.
In case you missed Wednesday’s analyst upgrades and downgrades, they were in Ambarella, GoPro, BBVA, Baker Hughes, Micron, Intel, Halliburton and more.
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