These are this Tuesday’s top analyst upgrades, downgrades and initiations.
AK Steel Holding Corp. (NYSE: AKS) was started as Market Perform at BMO Capital Markets.
Alcoa Inc. (NYSE: AA) was started as Market Perform at BMO Capital Markets.
Intel Corp. (NASDAQ: INTC) was reiterated as Outperform with a $40 price target at Credit Suisse ahead of its analyst day, with a call that it has $4 in earnings per share power. Bank of America Merrill Lynch also reiterated its Buy rating and $43 price objective.
International Business Machines Corp. (NYSE: IBM) was reiterated as Underperform with a $125 price target at Credit Suisse as five fundamental concerns remain in place.
Wells Fargo & Co. (NYSE: WFC) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Other Key Analyst Calls
Alpha Natural Resources Inc. (NYSE: ANR) was started as Underperform at BMO Capital Markets.
Arch Coal Inc. (NYSE: ACI) was started as Underperform at BMO Capital Markets.
Allergan Inc. (NYSE: AGN) was downgraded to Market Perform at William Blair and downgraded to Neutral at SunTrust Robinson Humphrey.
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Baker Hughes Inc. (NYSE: BHI) was downgraded to Hold from Buy on Halliburton acquisition at Argus.
CONSOL Energy Inc. (NYSE: CNX) was started as Outperform at BMO Capital Markets.
Century Aluminum Co. (NASDAQ: CENX) was started as Outperform at BMO Capital Markets.
Electronic Arts Inc. (NASDAQ: EA) was started as Overweight with a $48 price target (versus a $41.40 close) at Barclays.
Macy’s Inc. (NYSE: M) was downgraded to Neutral from Buy at Merrill Lynch.
Prestige Brands Holding Inc. (NYSE: PBH) was raised to Hold from Underperform at Jefferies.
Sony Corp. (NYSE: SNE) was raised to Buy from Hold at Deutsche Bank.
Tesoro Corp. (NYSE: TSO) was started as on the prized Conviction Buy List at Goldman Sachs and the price target was $108 (versus a $72.37 close).
Thoratec Corp. (NASDAQ: THOR) was raised to outperform and the price target was raised to $35 from $27 (versus a $29.20 close) at Credit Suisse.
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Tyco International Ltd. (NYSE: TYC) was raised to Buy from Hold with a target of $48 at Argus.
Urban Outfitters Inc. (NASDAQ: URBN) was down close to 6% after earnings, despite having already warned. William Blair downgraded it to Market Perform from Outperform. Canaccord Genuity cut its target price to $39 from $47.
If you missed Monday’s top analyst upgrades and downgrades, they included Allstate, Hecla Mining, Hertz, MGIC, Nokia, Office Depot, Procter & Gamble and a dozen or so more.
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