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Top Analyst Upgrades and Downgrades: Apple, AMC, BP, LendingClub, Monster, Seagate and More
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Stocks were down only so slightly on Tuesday, after the gains failed to hold on Monday. Investors have shown for over three years now that they will buy stocks on weakness. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investment ideas for its readers. Some of the analyst calls cover stocks to buy, while other reports cover stocks to sell or avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations.
AGL Resources Inc. (NYSE: GAS) was raised to Buy from Hold with target of $58 (versus a $50.09 close) at Argus.
AMC Networks Inc. (NASDAQ: AMCX) was started as Overweight with a $90 price target (versus a $76.99 close) at Piper Jaffray.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy and the price target was raised to $145 from $135 at Argus. The firm noted that Apple’s early smartwatch strength bodes well for its product launch.
Arrowhead Research Corp. (NASDAQ: ARWR) was downgraded to Hold from Buy at Jefferies, but the standout here is that the price target was slashed from $30 to $9 (versus an $8 close).
BP PLC (NYSE: BP) was downgraded to Neutral from Buy at Citigroup. This is just a day after a Bank of America Merrill Lynch made effectively the same downgrade.
Excel Trust Inc. (NYSE: EXL) was downgraded to Market Perform from Outperform at Raymond James.
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Flex Pharma Inc. (NASDAQ: FLKS) was started as Buy with a $40 price target (versus a $19.46) at HC Wainwright. While this is a double-your-money analyst prediction, this is a new company and is a small cap with very limited analyst coverage.
Intra-Cellular Therapies Inc. (NASDAQ: ITCI) was started as Outperform with a price target of $41 (versus a $23.02 close) at RBC Capital Markets.
LendingClub Corp. (NYSE: LC) was raised to Neutral from Underperform at Sterne Agee. The firm said that its short-term story has played out as expected and it went to within 50 cents of the $17.50 price target.
Monster Beverage Corp. (NASDAQ: MNST) was started as Neutral and was assigned a price target of $127 (versus a $137.78 close) at Susquehanna Financial.
Norfolk Southern Corp. (NYSE: NSC) was downgraded to Hold from Buy and the price target was cut to $110 from $120 at TD Securities.
Seagate Technology PLC (NASDAQ: STX) was raised to Neutral from Underperform with a price target of $60 (versus a $55.41 close) at Merrill Lynch.
Skullcandy Inc. (NASDAQ: SKUL) was reiterated Outperform and the price target was raised to $15 from $12 (versus a $10.91 close) at Northland Securities.
SteadyMed Ltd. (NASDAQ: STDY) was started as Market Perform at JPM Securities, but what stood out was the target of $20, versus an $8.65 close. This just came public on March 20, so this is a quiet-period expiration call. Wells Fargo assigned it an Outperform rating, while RBC assigned an Outperform rating and $18 price target.
SuperCom Ltd. (NASDAQ: SPCB) was started as Buy with a $17.75 price target (versus a $9.83 close) at B. Riley.
VeriFone Systems Inc. (NYSE: PAY) was raised to Buy from Neutral with a price target raise to $44 from $38 (versus a $35.28 close) at Goldman Sachs.
Western Digital Corp. (NASDAQ: WDC) was raised to Buy from Neutral with a $117 price target (versus a $95.50 close) at Merrill Lynch.
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In case you missed Monday’s top analyst upgrades and downgrades, they were in shares of Apple, BP, Hewlett-Packard, Philip Morris, UnitedHealth and about 20 more companies.
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