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Top Analyst Upgrades and Downgrades: Apple, BofA, Canadian Solar, Garmin, Regions Financial, Euronav and Many More

Stocks were looking for a serious comeback on Tuesday after news broke that China’s central bank cut interest rates and lowered reserve requirements. As we have seen repeatedly for almost four years, the reason each time is different, but investors have searched for value and bought the dips. The difference this time was that the Dow and the S&P 500 both corrected more than 10% from their highs.

24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some of the analyst calls cover stocks to buy, and others cover stocks to sell. These are this Tuesday’s top analyst upgrades, downgrades and initiations.

Apple Inc. (NASDAQ: AAPL) was raised to Outperform from Market Perform at Wells Fargo, and the firm’s valuation range was set up at $125 to $135 (versus a $23.84 close). The firm said that Apple’s correction is overdone, and while its concerns remain, the share price justifies a higher rating.

Bank of America Corp. (NYSE: BAC) was raised to Outperform from Neutral with an $18 price target at R.W. Baird. Sanford Bernstein raised its rating to Outperform from Market Perform with a $19 price target. This is just a day after Keefe Bruyette & Woods raised its rating to Outperform with a $20 target price.

Canadian Solar Inc. (NASDAQ: CSIQ) was started as Outperform at Cowen, which set a $28.50 price target. This is after shares fell 6.4% to $16.28 the prior day, and shares were indicated around $17.80 in early trading. Canadian Solar has a consensus price target of $41.79 and a 52-week range of $14.16 to $41.12.

Garmin Ltd. (NASDAQ: GRMN) was raised to Outperform from Market Perform with a $43 price target (versus a $37.01 close) at Raymond James.

Regions Financial Corp. (NYSE: RF) was raised to Strong Buy from Outperform with an $11.50 price target (versus an $8.98 close) at Raymond James. Regions has a consensus price target of $11.38 and a 52-week range of $8.59 to $10.87.

ALSO READ: Why Analysts Will Slash Price Targets Unilaterally

Euronav N.V. (NYSE: EURN) was started as Outperform at Wells Fargo, with a valuation range set at $15.00 to $17.00. This is after a 6.8% drop to $12.14 on Monday.

Other key analyst upgrades and downgrades from this Tuesday were seen in the following:

Adobe Systems Inc. (NASDAQ: ADBE) was raised to Outperform from Neutral at R.W. Baird.

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Outperform from Market Perform with a price target of $19.00 (versus a $15.65 close) at FBR Capital Markets.

Barclays PLC (NYSE: BCS) was raised to Buy from Sell at Investec.

Compass Diversified Holdings (NYSE: CODI) was started as Buy with an $18 price objective (versus a $15.87 close) at Bank of America Merrill Lynch, based on a sum of the parts framework.

Expeditors International of Washington Inc. (NASDAQ: EXPD) was raised to Buy from Hold and was given a $56 price target (versus a $46.74 close) at Stifel Nicolaus.

ALSO READ: 5 Defensive High-Yield Stocks to Survive the Sell-Off Carnage

Macy’s Inc. (NYSE: M) was raised to Hold from Sell with a $61 price target (versus a $57.12 close) at Deutsche Bank.

Myriad Genetics (NASDAQ: MYGN) was raised to Outperform from Market Perform at Wells Fargo, and the fair value range was raised to $36.00 to $38.00 from the prior range of $33.00 to $34.00. This is after a 6.1% drop to $31.41 and compares to a $35.00 consensus analyst price target.

Rovi Corp. (NASDAQ: ROVI) was raised to Overweight from Neutral with a $23.00 price target (versus a $9.67 close) at JPMorgan.

Sprouts Farmers Market Inc. (NASDAQ: SFM) was raised to Buy from Hold and was given a $24 price target (versus a $19.59 close) at Deutsche Bank.

StoneMor Partners L.P. (NYSE: STON) was raised to Strong Buy from Outperform, but the price target was left unchanged at $32.00 (versus a $23.84 close) at Raymond James.

SunTrust Banks Inc. (NYSE: STI) was raised to Neutral from Underperform at R.W. Baird.

TeleNav Inc. (NASDAQ: TNAV) was started as Buy and was given a price target of $15.00 (versus a $6.77 close) at B. Riley.

ALSO READ: Where Will Warren Buffett Put Money as Markets Collapse?

VeriFone Systems Inc. (NYSE: PAY) was raised to Overweight from Neutral with a $38.50 price target (versus a $29.15 close) at Piper Jaffray.

In case you missed Monday’s top analyst upgrades and downgrades, they included Bank of America, Chevron, ConocoPhillips, Comerica, Nike, Vital Therapies and over a dozen more companies.

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