Stocks were indicated sharply lower on the first trading day of the year. The drop of over 30 S&P 500 points and almost 300 Dow points is not the way most stock markets start the year. This is blamed on China, but the trend that has prevailed in U.S. stocks for over four years is that investors have bought literally every single pullback.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or avoid. These are the top analyst calls for Monday, January 4, 2016.

Amazon.com Inc. (NASDAQ: AMZN) was downgraded to Neutral from Buy at Monness Crespi Hardt. Amazon closed at $675.89 and was indicated down 2.5% at $656.00 on Monday. Its shares have a consensus analyst price target of $741.10 and a 52-week trading range of $285.25 to $696.44.

Chesapeake Energy Corp. (NYSE: CHK) was downgraded to Underperform from Market Perform at Raymond James. Chesapeake Energy closed at $4.50 and has a consensus price target of $6.90 and a 52-week trading range of $3.56 to $21.49.

Chipotle Mexican Grill (NYSE: CMG) was downgraded to Perform from Outperform at Oppenheimer, but this is after two different serious legs down to due to food contamination issues persisting and remaining unresolved. Chipotle closed at $479.85 and was indicated lower at $468.00. Chipotle’s consensus price target has fallen with other downgrades to $574.00 or so, and its 52-week range is $477.97 to $758.61.

Deere & Co. (NYSE: DE) was raised to Neutral from Sell at UBS. Deere closed out 2015 at $76.27, has a consensus analyst price target of $77.57 and has a 52-week range of $71.85 to $98.23.

Delphi Automotive PLC (NYSE: DLPH) was started on the prized Conviction Buy List at Goldman Sachs. The firm issued a $114.00 price target on Delphi, versus a prior $85.73 close. Delphi has a consensus price target of $96.64 and a 52-week range of $66.10 to $90.57.

Lululemon Athletica Inc. (NASDAQ: LULU) was raised to Buy from Hold at Jefferies, and the firm raised its price target to $70.00 from $53.00. Shares closed at $52.47, with a consensus analyst price target of $56.82 and a 52-week range of $43.13 to $70.00.

McDonald’s Corp. (NYSE: MCD) was raised to Buy from Neutral and the price target was raised to $135.00 from $112.00 (versus a $118.14 close) at Nomura Securities. The firm was citing the strength of all-day breakfast and moves back to basics at McDonald’s. The stock has a consensus price target of $118.67 and has a 52-week range of $87.50 to $120.23.

Pandora Media Inc. (NYSE: P) was downgraded to Neutral from Buy at SunTrust Robinson Humphrey, and it was also given a negative outlook in Barron’s on higher competition and cost pressure. Pandora closed at $13.41 but was indicated 4.5% lower at $12.80 on Monday morning. The consensus target price is closer to $20.00, and Pandora’s 52-week trading range is $11.38 to $22.60.

Atlassian Corp. PLC (NASDAQ: TEAM) was started as Buy with a $36.00 price target (versus a $30.08 close) for one-year out at Canaccord Genuity. The firm sees an innovative business model creating a long-tail opportunity in exponential software growth ahead. Jefferies also started Atlassian with a Buy rating and issued a $37.00 price target, while UBS started it as Buy with a $40.00 price target. Goldman Sachs started it as Neutral with a mere $27.00 price target.

Other key analyst upgrades, downgrades and initiations were seen on Monday in the following:

Abercrombie & Fitch Co. (NYSE: ANF) was reiterated as Buy at Jefferies, but the firm raised its price target to $35.00 from $30.00.

Boston Properties Inc. (NYSE: BXP) was downgraded to Outperform from the Top Pick at RBC Capital markets.

Carlyle Group L.P. (NASDAQ: CG) was downgraded to Neutral from Outperform at Credit Suisse.

Colgate-Palmolive Co. (NYSE: CL) was downgraded to Sector Perform from Outperform with a $71.00 price target at RBC Capital Markets.

Finish Line Inc. (NASDAQ: FINL) was reiterated as Buy at Canaccord Genuity with a $27.00 price target. The rating was despite reduced expectations for the third quarter, and the firm expects an inflection point in the fourth quarter.

Fossil Inc. (NASDAQ: FOSL) was downgraded to Hold from Buy and the price target was slashed to $40.00 from $68.00 at Jefferies.

Franklin Resources Inc. (NYSE: BEN) was downgraded to Underperform from Neutral at Credit Suisse, and the firm lowered its price target to $37.00.

GameStop Corp. (NYSE: GME) was downgraded to Neutral from Buy at Sterne Agee CRT.

GSV Capital Corp. (NASDAQ: GSVC) was downgraded to Market Perform from Outperform at JMP Securities.

HCP Inc. (NYSE: HCP) was downgraded to Hold from Buy at Argus.

iRobot Corp. (NASDAQ: IRBT) was downgraded to Neutral from Overweight but the price target was raised to $35.00 from $34.00 (versus a $35.40 close) at Piper Jaffray.

Medley Management Inc. (NYSE: MDLY) was downgraded to Neutral from Outperform at Credit Suisse, and the firm cut its price target to $6.00 from $7.00 in the call (versus a $5.69 close).

PayPal Holdings Inc. (NASDAQ: PYPL) was downgraded to Sell from Neutral at Monness Crespi Hardt.

U.S. Cellular Corp. (NYSE: USM) was downgraded to Neutral from Overweight at JPMorgan.

Waddell & Reed Financial Inc. (NYSE: WDR) was downgraded to Underperform from Neutral at Credit Suisse and the price target was cut to $28.00 from $33.00.

Wendy’s Co. (NASDAQ: WEN) was raised to Buy from Neutral and the price target was raised to $12.50 from $11.00 (versus a $10.77 close) at Nomura Securities.

Werner Enterprises Inc. (NASDAQ: WERN) was raised to Buy from Hold at Stifel.

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