Top Analyst Upgrades and Downgrades: Freeport-McMoRan, PTC, SunEdison, Transocean, UTC, Valeant, Windstream and More

March 1, 2016 by Jon C. Ogg

Stocks were indicated to open handily higher on Tuesday after Monday’s drop. Still, this is after two consecutive weeks of gains in the U.S. stock market. Could the trend be changing back to investors buying the dips rather than selling into every rally?

24/7 Wall St. reviews dozens of analyst reports every day of the week. The goal is to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, March 1, 2016.

Freeport-McMoRan Inc. (NYSE: FCX) was resumed with a Neutral rating and $9.00 price objective at Bank of America Merrill Lynch. The firm sees limited near-term upside catalysts for Freeport-McMoRan, with breakeven 2016 cash flows and uncertainty in Indonesia. Shares closed at $7.63. The consensus analyst target price is $6.21 and the 52-week trading range is $3.52 to $23.97.

PTC Therapeutics Inc. (NASDAQ: PTCT) was downgraded to Neutral from Outperform and the price target was slashed to $11 from $27 (versus a $7.98 prior close) at Wedbush Securities. It was also downgraded to Market Perform from Outperform at Cowen. The stock now has a 52-week range of $7.79 to $78.72, and this was a $28.00 stock just about 10 days earlier. Jefferies has a Hold rating but cut its target to $8 from $12.

SunEdison Inc. (NYSE: SUNE) was downgraded to Perform from Outperform at Oppenheimer. The stock closed down 12% at $1.98 on Monday and was indicated down 20% at $1.56 after the company delayed its annual report due to an internal probe.