Stocks were looking for direction ahead of Friday’s key durable goods report. Investors still want upside from stocks, even if they feel the bull market of five and a half years has gotten a bit long in the tooth. 24/7 Wall St. reviews dozens of analyst reports each morning to find new investment and trading ideas for our readers. Some analyst calls cover stocks to buy, while some feature stocks to sell or to avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations from Wall Street firms.
Amazon.com Inc. (NASDAQ: AMZN) shares were down 10% at $322.35 in early Friday trading after earnings and guidance yet again indicate a propensity to earn as little money as possible. Keep in mind that each 1% of this drop represents $1.65 billion in market cap. Amazon was downgraded to Neutral from Buy with a $350 price target at B. Riley. Canaccord Genuity cut its price target to $340 from $365.
BreitBurn Energy Partners L.P. (NASDAQ: BBEP) was downgraded to Market Perform from Outperform at Raymond James.
Brightcove Inc. (NASDAQ: BCOV) beat on earnings but guided lower. It was downgraded to Neutral from Buy at B. Riley, to Sector Perform from Outperform at RBC Capital Markets and to Sector Perform from Outperform at Pacific Crest Securities.
Deckers Outdoor Corp. (NYSE: DECK) was raised to Buy from Hold at Jefferies. Canaccord Genuity reiterated its Buy rating and raised its target price to $106 from $103.
Exxon Mobil Corp. (NYSE: XOM) was downgraded to Underweight from Equal Weight with a $105 price target (versus a $104.28 close) at Barclays.