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Top Analyst Upgrades and Downgrades: Analog Devices, Canadian Solar, Home Depot, Marvell, Wal-Mart and Many More

Stocks were indicated lower on Wednesday. The one trend that is nearly four years old now is that investors have bought every stock market sell-off. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, and others cover stocks to sell or avoid.

These are this Wednesday’s top analyst upgrades, downgrades and initiations.

Analog Devices Inc. (NYSE: ADI) shares were indicated up 7% at $62.00 or so after earnings. It was raised to Buy with a $71 price target at SunTrust Robinson Humphrey. Analog Devices was also reiterated as Outperform with a $72 price target at Credit Suisse. Wells Fargo maintained its Market Perform rating with a $55 to $65 valuation range.

Canadian Solar Inc. (NASDAQ: CSIQ) was down 10% after earnings around $22.00. Canaccord Genuity maintained its Buy rating but lowered its price target to $40 from $45 in the call. Roth Capital maintained its Buy rating and lowered its target to $40 from $46.

Home Depot Inc. (NYSE: HD) was reiterated as Buy and the price target was raised to $136 from $130 at Argus. Credit Suisse reiterated its Outperform rating and raised the price target to $135 from $120. Home Depot shares were up 2.6% at $122.80, as of Tuesday’s close, after it beat earnings.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was raised to Buy from Neutral with a $15 price target at Ladenburg Thalmann. The stock closed most recently at $12.16, has a consensus analyst price target of $14.77 and has a 52-week range of $11.65 to $16.78.

Wal-Mart Stores Inc. (NYSE: WMT) was maintained as Outperform at Credit Suisse with an $85 price target. The firm sees only 6% downside from here due to the 3% yield. Telsey Advisory Group cut its price target to $75 from $83 and maintained a Market Perform rating. Wells Fargo maintained its Market Perform rating and lowered its valuation range to $70.00 to $75.00 from $77.00 to $82.00.

ALSO READ: 6 Analyst Stocks Called to Rise 50% to 100%

Other top analyst upgrades, downgrades and initiations from this Wednesday were seen as follows:

Aflac Inc. (NYSE: AFL) was downgraded to Underperform from Neutral with a $66 price objective (down from $68) at Bank of America Merrill Lynch.

Duke Realty Corp. (NYSE: DRE) was raised to Buy from Neutral at UBS.

eBay Inc. (NASDAQ: EBAY) was maintained as Neutral and the post-spin price target was cut to $30 at Mizuho Securities.

Fogo De Chao Inc. (NASDAQ: FOGO) was raised to Overweight from Neutral with a $24 price target at JPMorgan.

Habit Restaurants Inc. (NASDAQ: HABT) was raised to Outperform from Market Perform with a $33 price target at Raymond James. This is after share fell more than 30% over the past three months.

Hain Celestial Group Inc. (NASDAQ: HAIN) was reiterated as Overweight with a $69 price target at Piper Jaffray, after a near 7% drop the prior day. Wells Fargo maintained its Market Perform rating with a $55 to $57 price target.

ALSO READ: Jefferies Raises Price Targets on 3 Top Growth Stocks to Buy Now

Illumina Inc. (NASDAQ: ILMN) was reiterated as Buy and the price target was raised to $250 at Mizuho Securities.

International Game Technology PLC (NYSE: IGT) was started as Sell and was assigned a $15.50 price target (versus a $19.28) at Goldman Sachs.

J.M. Smucker Co. (NYSE: SJM) was raised to Outperform from Neutral and the price target was raised to $125 from $112 (versus a $108.97 close) at Credit Suisse.

Methanex Corp. (NASDAQ: MEOH) was downgraded to Outperform from Strong Buy at Raymond James.

Panera Bread Co. (NASDAQ: PNRA) was started as Hold with a $220 price target at Maxim Group.

Scientific Games Corp. (NASDAQ: SGMS) was started as Sell with a $7.50 price target at Goldman Sachs.

Trina Solar Ltd. (NYSE: TSL) was maintained as Buy and the price target was cut to $15 from $25 at Roth Capital, as the China market weakness is offsetting module strength.

Weight Watchers International Inc. (NYSE: WTW) was raised to Equal Weight from Underweight at Morgan Stanley.

ALSO READ: The 4 Top Pharma Stocks for 2015 to 2016

In case you missed out on Tuesday’s top analyst upgrades and downgrades, they included Agilent, SanDisk, SunEdison, Urban Outfitters, Walt Disney and over a dozen more.

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