Investing

Six Unusual Analyst Upgrades & Downgrades

Each and every morning 24/7 Wall St. reviews the top analyst upgrades and downgrades from Wall Street analysts.  Some of these move stocks in a serious way while others sometimes miss the mark.  After reviewing the top calls and those which stood out, these become the unusual analyst calls of the day.  We have tracked the move and added color on each.

Apple Inc. (NASDAQ: AAPL) did not get a drop from this and the overall end price target of $780 sure sounds positive.  Stern Agee’s Shaw Wu actually talked down estimates of iPhone sales for the next two quarters.

Chimera Investment Corporation (NYSE: CIM) is one of the high-yield mortgage REITs that investors chase around.  It rarely sees upgrades and downgrades, but Chimera saw two analysts downgrade the stock simultaneously this morning as it was cut to Underperform at Bank of America/Merrill Lynch and cut to Neutral at Credit Suisse. Shares were down almost 8% at $2.52 late in the day.

Facebook, Inc. (NASDAQ: FB) is up on a really bad day.  Argus initiated coverage with a HOLD rating but it gave a $38 price target.  That is still more than 20% upside, so maybe “Hold is the new Buy.”

Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) would have been up either way after getting a positive ruling from an FDA panel recommending a drug approval.  We saw an unusual move as at least three analysts upgraded the stock: Brean Murray, Cowen, and R.W. Baird. On a bad day shares are up almost 45% at $64.60.  The analysts may try to claim the closing prioce of $44.58 on their ‘buy-in’ price but their calls were after the pop.

Under Armour, Inc. (NYSE: UA) has recently launched a new shoe, but one firm doesn’t think it can grow more value for the stock.  UBS cut the rating to Neutral from Buy and this was down 6% at $98.91 late in the trading day.

Credit Suisse may have given the hatchet to the MLP sector today as it cut three MLP price targets over natural gas concerns that could impact margin and potentially impact dividends and distributions.  All were down more than the market after the initial reaction.

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JON C. OGG