Stocks were indicated slightly lower Tuesday, after a big sell-off in the Dow was led by its largest members. The markets may be pulling back on Fed rate hike concerns and a continued slowing of the global growth story, but investors keep demonstrating that they are willing to buy any pullback. 24/7 Wall St. reviews dozens of analyst reports each day to find new ideas for its readers. Some analyst reports cover stocks to buy, while other calls cover stocks to sell or avoid. These are this Tuesday’s top analyst upgrades, downgrades and initiations.
AbbVie Inc. (NYSE: ABBV) was reiterated as Buy with a target price of $85.00 (versus a $63.23 prior close) at Argus. AbbVie has a consensus analyst price target of $75.29 and a 52-week trading range of $45.45 to $71.60.
Apple Inc. (NASDAQ: AAPL) was maintained as Outperform with a $140 price target at Credit Suisse. While this sounds positive, Credit Suisse actually lowered its 2016 EPS estimates by 6%, and noted lower orders in the Apple supply chain. Apple has a consensus price target of $148.88 and a 52-week range of $92.00 to $134.54.
Autodesk Inc. (NASDAQ: ADSK) was downgraded to Hold from Buy with a $60 price target (versus a $63.51 close) at Canaccord Genuity. Autodesk has a consensus price target of $63.80 and a 52-week range of $42.06 to $65.00.
JD.com Inc. (NASDAQ: JD) was started with a Buy rating and a $37.00 price target (versus a $28.76 close) at HSBC Securities. The stock has a consensus price target of $37.74 and a 52-week range of $21.55 to $38.00.
CyberArk Software Ltd. (NASDAQ: CYBR) was downgraded to Neutral from Buy and the price objective was cut to $48 from $80 (versus a $44.78 close). CyberArk reported earnings last week, and the consensus price target is closer to $60, with a 52-week range of $33.00 to $76.35.
Dean Foods Co. (NYSE: DF) was downgraded to Underperform from Neutral and the price target was cut to $18 from $19 (versus a $19.25 close) at Credit Suisse. Dean Foods has a consensus target price of $18.86 and a 52-week range of $14.56 to $19.74.
Walt Disney Co. (NYSE: DIS) was reiterated as Outperform and the price target was raised to $130 from $120 (versus a $116.42 close) at Credit Suisse. Disney has a consensus price target of $119.66 and a 52-week range of $88.75 to $122.08.
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Other key analyst upgrades, downgrades, and initiations seen from this Tuesday were in shares of the following companies:
Amyris Inc. (NASDAQ: AMRS) was started with a Buy rating and price target of $4.00 (versus a $1.63 close) at Rodman & Renshaw.
AngioDynamics Inc. (NASDAQ: ANG) was downgraded to Market Perform from Outperform at Raymond James.
Ball Corp. (NYSE: BLL) was started as Outperform at Macquarie.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) was reiterated as Buy with a $103 price target (versus a $81.76 close) at Argus.
Goodyear Tire & Rubber Co. (NASDAQ: GT) was reiterated as Buy and the price target was raised to $37 from $35 (versus a $32.55 close) at Argus.
Hercules Offshore Inc. (NASDAQ: HERO) was raised to Hold from Sell at Credit Suisse.
Horizon Technology Finance Corp. (NASDAQ: HRZN) was raised to Outperform from Market Perform at Raymond James.
Jamba Inc. (NASDAQ: JMBA) was maintained as Buy at Canaccord Genuity, but the price target was cut to $16 from $18 (versus a $14.44 close).
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Mallinckrodt PLC (NYSE: MNK) was defended on a sum of the parts basis at Jefferies after Monday’s sharp sell-off, with a Buy rating and $130 value.
Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Buy and the price target was raised to $170 from $164 at Argus.
Rio Tinto PLC (NYSE: RIO) was raised to Overweight from Equal Weight at Barclays.
Rubicon Technology Inc. (NASDAQ: RBCN) was maintained as Hold at Canaccord Genuity, but the price target was cut to $1.05 from $1.65 (versus a $1.21 close).
Synchrony Financial (NYSE: SYF) was reiterated as Buy with a $42.00 price target at Jefferies, with the firm noting that the next few days of exchange offer from GE may enable a buying opportunity (i.e., lower prices).
TerraForm Power Inc. (NASDAQ: TERP) was maintained as Buy with a $34.00 fair value estimate (versus a $18.30 close) at Janney Capital Markets. The call is after solid third-quarter results and its forward outlook.
Tetra Technologies Inc. (NYSE: TTI) was raised to Overweight from Neutral with a $12.00 price target (versus a $7.84 close) at JPMorgan.
Textura Corp. (NASDAQ: TXTR) was downgraded to Perform from Outperform at Oppenheimer. Northland Securities downgraded it to Market Perform from Outperform.
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In case you missed Monday’s top analyst upgrades and downgrades, they included Bankrate, FireEye, First Data, Pier 1 Imports, Regions Financial, Stratasys, Target, Wal-Mart, ZS Pharma and over a dozen more companies.
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