Top Analyst Upgrades and Downgrades: Groupon, Nordstrom, Seagate, Walmart, Whole Foods and More
February 21, 2014 by Jon C. Ogg
Groupon Inc. (NASDAQ: GRPN) was downgraded to Underperform from Sector Perform at RBC Capital Markets. Bank of America Merrill Lynch also lowered its target to $11 from $13, and Evercore Partners slashed its target to $8. Credit Suisse lowered estimates and maintained a Neutral rating as well.
Nordstrom Inc. (NYSE: JWN) was downgraded to Hold from Buy at Stifel; Macquarie also lowered its price target, and Sterne Agee lowered its price target to $54 from $57 while maintaining a Neutral rating. Credit Suisse lowered estimates and maintained a Neutral rating as well.
Seagate Technology PLC (NASDAQ: STX) was raised to Outperform from Sector Perform with a $60 price target at RBC Capital Markets.
Wal-Mart Stores Inc. (NYSE: WMT) was downgraded to Hold from Buy at Stifel Nicolaus, and the firm removed its price target after earnings and 2014 guidance.
Whole Foods Market Inc. (NASDAQ: WFM) was started with an Outperform rating and with a $63 price target at Oppenheimer. At $52.35, Whole Foods shares are now down $13 from their peak, and the consensus price target is closer to $59.50.
Other Key Analyst Calls
International Rectifier Corp. (NYSE: IRF) was started as Buy with a $30 price target at Stifel Nicolaus.
National CineMedia Inc. (NASDAQ: NCMI) was downgraded to Neutral from Buy at B. Riley, and it was also downgraded to Hold from Buy at Stifel Nicolaus.
Oshkosh Corp. (NYSE: OSK) was reinstated with a Buy rating and with a $65 price target at Merrill Lynch.
Restoration Hardware Holdings Inc. (NYSE: RH) was started as Buy with a $73 price target at BB&T Capital Markets.
Signet Jewelers Ltd. (NYSE: SIG) was raised to Buy with a $120 price target at Sterne Agee, based on the Zale merger.
Total S.A. (NYSE: TOT) was raised to Neutral from Sell at Goldman Sachs.
WCI Communities Inc. (NASDAQ: WCIC) was started with a Buy rating at Sterne Agee.
XenoPort Inc. (NASDAQ: XNPT) was reinstated as Outperform and the price target was set at $7 (versus a $5.89 close) by Credit Suisse.
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