Stocks were looking for direction on Thursday morning ahead of the three-day weekend. The six-year-old bull market may have stalled in the first quarter, but the one trend that has held true for three years now is that investors relentlessly have bought their favorite stocks every time the market sells off. 24/7 Wall St. reviews dozens of analyst research reports daily to find new trading and investment ideas for its readers. Some analyst calls cover stocks to buy, but other reports cover stocks to sell or avoid.

These are this Thursday’s top analyst upgrades and downgrades.

Garmin Ltd. (NASDAQ: GRMN) was downgraded to Neutral from Buy and the price target was cut to $54 from $63 (versus a $47.07 close) at Goldman Sachs. Garmin’s consensus price target remains above $57, but one analyst still has a street-high price target up at $68, as of last look. Also, Garmin hit a 52-week low on Wednesday, so the trend is not a friend right now.

ALSO READ: Wells Fargo Cautious on Oil, but Has 3 Top Oil Giants to Buy

IMAX Corp. (NYSE: IMAX) was started as Outperform with a $39 price target (versus a $33.53 close) at Macquarie. The consensus price target is $37.58, but one analyst has IMAX’s target price all the way up at $43.50.

Micron Technology Inc. (NASDAQ: MU) has been up and down after earnings, and it closed at $27.13. The chip-maker was maintained as Hold but the target was cut to $30 from $33 at Topeka Capital Markets. Credit Suisse maintained its Outperform rating and $50 target, but lowered its earnings estimates. Needham maintained its Strong Buy rating but lowered the target to $50 from $60 in the call.

Kimberly-Clark Co. (NYSE: KMB) was downgraded to Market Perform from Outperform and the price target was cut to $112 from $125 (versus a $106.85 close) at BMO Capital Markets. The consensus price target was $115 on last look, but sadly this means that the $125 target is no longer the street-high target.

Procter & Gamble Co. (NYSE: PG) was downgraded to Market Perform from Outperform and the price target was cut all the way down to $84 from $100 (versus a $82.32 close) at BMO Capital Markets. The consensus target is $92.68, and the street-high analyst price target is still up at $105, versus a 52-week high of $93.89.

TrovaGene Inc. (NASDAQ: TROV) was started as Buy with a $11 fair value estimate (versus a $6.75 close) at Janney Capital Markets, based on the company being poised to transform how doctors detect cancer and monitor treatment. The prior high call from the three analysts who cover TroveGene was $10.

ALSO READ: Analyst: Banks Are the Last Cheap Stock Sector

Other Key Analyst Upgrades, Downgrades and Initiations for Thursday

Agile Therapeutics Inc. (NASDAQ: AGRX) was started as Outperform with a $17 price target (versus a $9.40 close) at FBR Capital Markets. The consensus target is also at $17, and the highest analyst target is $20.

Coty Inc. (NYSE: COTY) was downgraded to Market Perform from Outperform with a target price of $24 (versus a $24.21 close) at BMO Capital Markets.

Deckers Outdoor Corp. (NYSE: DECK) was started as Buy with an $85 price objective (versus a $79.80 close) at Bank of America Merrill Lynch.

Dick’s Sporting Goods Inc. (NYSE: DKS) was raised to Positive from Neutral at Susquehanna.

Infinera Corp. (NASDAQ: INFN) was downgraded to Neutral from Buy, but the price target was raised to $22 from $19 (versus a $19.33 close), at Goldman Sachs.

Lion Biotechnologies Inc. (NASDAQ: LBIO) was started as Outperform at FBR Capital Markets.

Macerich Co. (NYSE: MAC) was raised to Neutral from Sell, but the price target was cut to $80 from $84, at UBS. Credit Suisse raised its rating to Neutral from Underperform.

ALSO READ: Why Budweiser Has to Fear Craft Beer Re-Ranking 

Mosaic Co. (NYSE: MOS) was raised to Sector Perform from Underperform with a $47 target (versus a $45.47 close) at CIBC.

Mueller Water Products Inc. (NYSE: MWA) was started as Outperform with a $12 price target (versus a $9.86 close) at Oppenheimer.

Steven Madden Ltd. (NASDAQ: SHOO) was raised to Overweight from Neutral with a $43 price target (versus a $37.49 close) at Piper Jaffray.

Stryker Corp. (NYSE: SYK) was downgraded to Underweight from Equal Weight at Barclays.

Targa Resources Corp. (NYSE: TRGP) was reinstated with a Buy rating at Citigroup.

Targa Resources Partners L.P. (NYSE: NGLS) was reinstated with a Neutral rating at Citigroup.

TrueCar Inc. (NASDAQ: TRUE) was started as Sell with a $10 price target (versus a $17.00 close) at B. Riley. Shares are indicated 3% lower on the call, with no other news seen.

Williams Companies Inc. (NYSE: WMB) was maintained as Buy at Argus, but the firm lowered its price target to $58 from $61 (versus a $50.05 close).

World Point Terminals L.P. (NYSE: WPT) was raised to Buy from Neutral at Merrill Lynch. This is just two days after Credit Suisse cut its rating to Underperform from Outperform and cut the price target to $19 from $24, and it is three days after Stifel cut its rating to Hold from Buy.

ALSO READ: Why One Analyst Sees Twitter Worth 30% More

In case you missed Wednesday’s top analyst upgrades and downgrades, they included Alibaba, Altera, Dyax, Hewlett-Packard, Kinder Morgan, Michael Kors, Staples, Twitter and a dozen or so more.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.