These are Wednesday’s top analyst upgrades, downgrades and initiations.
Ambarella Inc. (NASDAQ: AMBA) was reiterated as Buy and the price target was raised to $105 from $75 at Topeka Capital Markets. Needham raised its rating to Hold from Underperform. Shares are up over 4% at $96.00 or so, but the earnings beat may have run into new share buyer exhaustion.
AT&T Inc. (NYSE: T) was added to the Franchise Picks List at Jefferies, with a very positive view on the company’s growth and dividends after the DirecTV merger.
Cisco Systems Inc. (NASDAQ: CSCO) was raised to Outperform from Market Perform at RBC Capital Markets. Nomura started Cisco with a Neutral rating and a $32 price target. Cisco was also one of our 10 stocks to own for the next decade.
Frontier Communications Corp. (NASDAQ: FTR) was raised to Buy from Neutral and it was given a $6.50 price target (versus a $5.16 close) at DA Davidson. Frontier’s consensus analyst price target is $7.23 and its 52-week range is $4.90 to $8.46.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was started as Market Perform at Northland Securities with a $15.00 price target (versus a $14.01 close). Marvell was recently featured as one of five potential remaining semiconductor M&A companies. The consensus price target is $14.98, and its 52-week range is $11.65 to $16.78.
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Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) has been dropped from coverage at Bank of America Merrill Lynch. The firm said this reflects a reassessment of its coverage universe, and investors should no longer rely on prior ratings, price objectives, estimates or opinions on Yingli as the balance sheet remains a major concern with losses and book value deterioration expected to continue. The firm’s final investment opinion was Underperform with a price objective of $1.60.
Additional analyst upgrades, downgrades and initiations from this Wednesday were seen as follows:
American Airlines Group Inc. (NASDAQ: AAL) was downgraded to Neutral from Buy and the price objective was cut to $50 from $64 at Merrill Lynch.
ArcelorMittal S.A. (NYSE: MT) was reiterated as Outperform and the price target was raised to $15 from $11.50 at Credit Suisse.
Blackstone Group L.P. (NYSE: BX) was started as Overweight with a price target of $50.00 (versus a $43.34 close) at Piper Jaffray.
Caterpillar Inc. (NYSE: CAT) was started as Buy at Societe Generale.
Charles Schwab Corp. (NYSE: SCHW) was started as Overweight with a price target of $39.00 at Piper Jaffray.
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Ciena Corp. (NASDAQ: CIEN) was started with a Buy rating and was given a $29 price target (versus a $24.20 close) at Nomura.
Credit Suisse A.G. (NYSE: CS) was raised to Outperform from Sector Perform at RBC Capital Markets.
Dean Foods Co. (NYSE: DF) was downgraded to Equal Weight from Overweight but the price target was raised to $19 from $18 at Morgan Stanley.
HSN Inc. (NASDAQ: HSNI) was raised to Buy from Hold with a $78.00 price target (versus a $67.82 close) at Stifel.
Humana Inc. (NYSE: HUM) was raised to Neutral from Underperform at Sterne Agee CRT.
Janus Capital (NYSE: JNS) was started as Overweight with a price target of $22 (versus a $18.38 close) at Piper Jaffray.
Juniper Networks Inc. (NYSE: JNPR) was started as Neutral at Nomura.
Legg Mason Inc. (NYSE: LM) was started as Outperform with a $65 price target at Piper Jaffray.
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Nice Systems Ltd. (NASDAQ: NICE) was raised to Overweight from Neutral with a $72 price target (versus a $63.30 close) at JPMorgan.
NuVasive Inc. (NASDAQ: NUVA) was downgraded to Neutral from Buy at Goldman Sachs.
Priceline Group Inc. (NASDAQ: PCLN) was started as Equal Weight with a $1,200 price target (versus an $1,196.02 close) at Barclays.
Progressive Waste Solutions Ltd. (NYSE: BIN) was raised to Overweight from Sector Weight at KeyBanc Capital Markets.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) was raised to Outperform from Neutral and the price target was raised to $36 from $32 (versus a $27.55 close) at Cowen.
TripAdvisor Inc. (NASDAQ: TRIP) was started as Underweight with a price target of $68.00 (versus a $76.32 close) at Barclays.
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ZELTIQ Aesthetics Inc. (NASDAQ: ZLTQ) was raised to Buy from Neutral with a price target of $36.00 (versus a $27.86 close) at Goldman Sachs.
If you missed Tuesday’s top analyst upgrades and downgrades, they included BHP Billiton, Bojangles, Intel, Lululemon Athletica, Palo Alto Networks, Zions Bancorp and about a dozen more.
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