These are this Tuesday’s top analyst upgrades, downgrades, and initiations.
Baidu, Inc. (NASDAQ: BIDU) was down around 12% at $173.00 after missing earnings estimates. Deutsche Bank and Brean Capital both downgraded it to Hold from Buy. Baidu is at 52-week lows now as the prior 52-week range was $178.81 to $251.99.
BlackBerry Ltd. (NASDAQ: BBRY) was raised to Equal Weight from Underweight with a $7 price target (versus $7.28 close) at Morgan Stanley. BlackBerry has a consensus price target of $8.81 and a 52-week range of $7.15 to $12.63.
General Motors Co. (NYSE: GM) was reiterated as Buy and with a target price of $45 at Argus, up handily from the $31.05 close. The firm sees GM winning from recent efforts to rationalize manufacturing capacity and consolidate vehicle platforms and from strong U.S. demand for new cars.
PayPal Holdings, Inc. (NASDAQ: PYPL) was started as Buy with a $44 price target (versus $36.39 close) at Jefferies. PayPal’s consensus price target is $43.11 and it has a post-split range of $33.98 to $42.55.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was reiterated as Buy at Argus on the heels of the Allergan generics acquisition, and the firm raised its target price to $82 from $75 (versus $72.00 close after a 16% gain) in the call. Teva is one of our own 10 Stocks to Own for the Next Decade, it has a consensus target closer to $73 and a 52-week range of $47.36 to $72.15.
Yelp Inc. (NYSE: YELP) was downgraded to Hold from Buy with $33 price target (versus $33.73 close) at Deutsche Bank. Yelp has a consensus target price of $51.69 and a 52-week range of $33.35 to $86.88.
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Other key analyst upgrades, downgrades, and initiations from this Tuesday were seen in shares of the following companies:
Boyd Gaming Corp. (NYSE: BYD) was raised to Neutral from Underperform and the price objective was raised to $18 from $12.50 at BofA Merrill Lynch.
Cepheid (NASDAQ: CPHD) was reiterated as Outperform with a Fair Value range of $65 to $70 (versus $53.14 close, after a 5.5% drop) at Wells Fargo. The firm sees its GeneXpert Omni new product potentially leapfrogging competitors as dominant molecular player in the very large point-of-care market.
Colfax Corp. (NYSE: CFX) was downgraded to Hold from Buy at Argus, with the call being on a weak near-term outlook.
Kaiser Aluminum Corp. (NASDAQ: KALU) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
LifeLock, Inc. (NYSE: LOCK) was maintained as Buy at Canaccord Genuity, but the price target was cut to $14 from $23 (versus $7.74 close) as the firm has more questions than answers at this point.
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News Corp. (NASDAQ: NWS) was raised to Outperform from Neutral at Macquarie.
Nimble Storage, Inc. (NYSE: NMBL) was downgraded to Buy from Strong-Buy and the price target was cut to $32 from $35 (versus $27.42 close) at Needham.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) was reiterated as Buy with a Fair Value estimate of $649 (versus $540.03 close) at Janney Capital Markets. This is after Regeneron and Sanofi expanded their partnership to develop immuno-oncology antibodies.
Simon Property Group, Inc. (NYSE: SPG) was shown to have had its public market valuation disconnected after repurchases according to Wells Fargo. The firm has an Outperform rating but lowered its valuation range down to $198.00 to $211.00 from $212.00 to $225.00.
Torchmark Corp. (NYSE: TMK) was downgraded to Underperform from Neutral at BofA Merrill Lynch due to a peak valuation and earnings growth pressure.
Waste Management, Inc. (NYSE: WSM) was raised to Buy from Hold with a price target of $57 at Argus.
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In case you missed Monday’s top analyst upgrades and downgrades, they were in shares of AT&T, Chesapeake, Facebook, Qualcomm, Weatherford and over a dozen more.
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