Top 12 Analyst Upgrades and Downgrades: FedEx, GE, Ulta Salon and Walmart

June 4, 2013 by Jon C. Ogg

Bull and Bear
Source: Jon Ogg
Investors and traders are usually on the lookout for new research ideas that will generate higher income or more profits. 24/7 Wall St. reviews many analyst research calls from Wall Street and from boutique firms to find great ideas in value stocks, growth stocks and dividend stocks. Some are stocks to buy, while some ideas are even stocks to sell. These are ten of the top analyst upgrades, downgrades and initiations seen from select Wall Street research calls this Tuesday.

Canadian Pacific Railway Ltd. (NYSE: CP) was cut to Underperform from Sector Perform at RBC Capital Markets.

Equinix Inc. (NASDAQ: EQIX) was maintained for a fresh 12-month term on the US 1 List at BofA/Merrill Lynch.

FedEx Corp. (NYSE: FDX) was reiterated Buy and the target price was raised to $120 from $115 at BofA/Merrill Lynch.

General Electric Co. (NYSE: GE) was reiterated as Buy with $25 price target after getting a Systematically Important Financial Institution designation, according to BofA/Merrill Lynch.

Monolithic Power Systems Inc. (NASDAQ: MPWR) was started as Outperform at Wells Fargo.

PVH Corp. (NYSE: PVH) was cut to an Outperform from the Top Pick at RBC Capital Markets.

Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) was cut to Neutral from Overweight at Piper Jaffray.

SeaWorld Entertainment Inc. (NYSE: SEAS) was started as Outperform at Wells Fargo.

Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA) was cut to Neutral from Buy but with a $98 price target rather than the prior $93 target by Goldman Sachs.

Wal-Mart Stores Inc. (NYSE: WMT) was reiterated as Buy with $90 price target ahead of annual meeting at BofA/Merrill Lynch.

Credit Suisse on biotech and ASCO cancer stocks:

At ASCO, we saw promising Phase I data for four antibody drug conjugates. We believe this is the front of a very big wave of new drugs, and in our view, the best positioned biotech companies are Seattle Genetics Inc. (NASDAQ: SGEN) and ImmunoGen, Inc. (NASDAQ: IMGN), and on the pharma side, Roche.

Jefferies offers a list of consumer retail stocks to buy.

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