Stocks were well up on Wednesday morning. While volatility has returned to the stock market, it seems as though investors are looking to accumulate stocks that have sold off and that were missed on the way up. 24/7 Wall St. reviews many analyst research reports each morning to find new investment and trading ideas for our readers. Some research reports cover stocks to buy, and others feature stocks to sell or stocks to avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations from Wall Street analysts.
FuelCell Energy Inc. (NASDAQ: FCEL) was raised to Outperform from Market Perform and given a $3 price target (versus $2.27 Tuesday close) at Cowen & Co. The fuel cell player was up 6% to $2.41 in early trading indications.
JDS Uniphase (NASDAQ: JDSU) met earnings expectations but guided lower. The fiber and communications equipment company was downgraded to Neutral from Overweight at Piper Jaffray. It was also downgraded to Neutral from Buy at B. Riley.
King Digital Entertainment PLC (NYSE: KING) was hammered on Wednesday after the company issued a profit warning Tuesday night. Several firms downgraded King, including Deutsche Bank, Barclays, JPMorgan, RBC Capital Markets, BofA Merrill Lynch and more.
SunEdison, Inc. (NYSE: SUNE) was started as Market Perform at Cowen. Keep in mind that SunEdison was just raised to Buy at Goldman Sachs on Tuesday.