Some analyst reports cover stocks to buy and others cover stocks to sell or to avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Akamai Technologies Inc. (NASDAQ: AKAM) was gutted, with shares indicated down 18% at $61.50 after earnings and weak guidance. The content delivery acceleration provider was downgraded to Market Perform from Outperform and its price target was cut to $70 from $75 (versus a $75.55 prior close) at Cowen. Akamai has a consensus analyst price target of $76.55 and a 52-week trading range of $55.78 to $78.44.
Apple Inc. (NASDAQ: AAPL) has seen at least one key upgrade after earnings, being raised to Overweight from Sector Weight and with a $142.00 price target at Pacific Crest. Apple shares were last seen up almost 2% at $116.80, and its consensus analyst target price is closer to $149.00, against a 52-week range of $92.00 to $134.54.
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Devon Energy Corp. (NYSE: DVN) was downgraded to Sell from Neutral at UBS. The stock closed down 3.7% at $41.20. It has a consensus analyst price target of almost $57.00 and a 52-week range of $36.01 to $70.48.
GrubHub Inc. (NYSE: GRUB) fell almost 24% to $24.49 after missing earnings expectations on Tuesday. Susquehanna lowered its rating to Neutral from Positive and cut its target to $25 from $44, while RBC Capital Markets lowered its rating to Sector Perform from Outperform and cut its target to $27 from $42.
JetBlue Airways Corp. (NASDAQ: JBLU) was downgraded to Neutral from Outperform and the price target was cut to $28.00 from $32.00 at Credit Suisse. Shares closed down 3% at $25.36. The consensus target price is $29.36, and the 52-week range is $11.11 to $27.36.
Kroger Co. (NYSE: KR) was reiterated as Outperform at Telsey Advisory Group, but the price target was raised to $43 from $41 (versus a $36.99 close). Kroger has a consensus price target of $42.00 and a 52-week range of $27.09 to $39.43.
Twitter Inc. (NYSE: TWTR) may have drifted lower after earnings, but Stifel Nicolaus raised its rating to Buy from Hold with a $34.00 price target. Twitter shares closed at $31.34, but they were indicated lower by 11% at $27.85 in early trading indications Wednesday.
UBS A.G. (NYSE: UBS) was downgraded to Neutral from a prior Overweight rating at JPMorgan. UBS closed at $20.30 in New York trading, and it has a 52-week trading range of $16.01 to $23.19.
Yelp Inc. (NYSE: YELP) was started with a Sell rating and was assigned a $17.50 price target (versus a $22.90 close) at Roth Capital. Shares were indicated down 3% at $22.17. They have a consensus price target of $33.04 and a 52-week range of $20.50 to $63.76.
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Other key analyst upgrades, downgrades and initiations on Wednesday were in the following:
Cummins Inc. (NYSE: CMI) was downgraded to Neutral from Outperform with a $118.00 price target (versus a $102.35 close) at R.W. Baird.
Del Taco Restaurants Inc. (NASDAQ: TACO) was started as Neutral with a $13.00 price target (versus a $12.48 close) at Piper Jaffray.
Edison International (NYSE: EIX) was downgraded to Equal Weight from Overweight at Barclays. Evercore ISI also downgraded Edison to Hold from Buy.
Hartford Financial Services Group Inc.(NYSE: HIG) was downgraded to Neutral from Overweight at Atlantic Equities.
Intrepid Potash Inc. (NYSE: IPI) was downgraded to Underperform from Buy at CLSA.
Liberty Property Trust (NYSE: LPT) was downgraded to Equal Weight from Overweight with a $35.00 price target (versus a $34.93 close) at Morgan Stanley.
Medidata Solutions Inc. (NASDAQ: MDSO) was raised to Buy from Hold with a $50.00 price target (versus a $41.24 close) at Topeka Capital Markets.
MeetMe Inc. (NASDAQ: MEET) was started with a Buy rating and $4.00 price target (versus a $2.43 close) at Roth Capital. It has a 52-week range of $1.32 to $2.52 and a market cap of only $110 million.
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Portland General Electric Co. (NYSE: POR) was downgraded to Underweight from Neutral with a price target of $36.00 (versus a $38.23 close) at JPMorgan.
Star Bulk Carriers Corp. (NASDAQ: SBLK) was downgraded to Sell from Neutral at UBS.
Viad Corp. (NYSE: VVI) was started with a Buy rating and a $42.50 price target (versus a $30.52 close) at B. Riley.
In case you missed Tuesday’s top analyst upgrades and downgrades, they included BioDelivery Sciences, Merrimack Pharmaceuticals, Silver Wheaton, Valeant Pharmaceuticals, Weatherford International and over a dozen more.
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