Top Analyst Upgrades and Downgrades (ADBE, AAPL, DLR, FTNT, KRFT, MSFT, MDLZ, SLB, TOL, UA)

Investors and traders are often on the hunt for new ideas to generate income and profits. 24/7 Wall St. is always reviewing fresh research calls to find great ideas from value stocks to growth stocks to dividend stocks. Some are stocks to buy and some are stocks to sell. These are some of this Wednesday’s top analyst upgrades, downgrades and initiations seen from select Wall St. research calls.

Adobe Systems Inc. (NASDAQ: ADBE) raised to Neutral from Sell at Goldman Sachs.

Apple Inc. (NASDAQ: AAPL) maintained Buy with $630 price target on Yahoo! ties at Stern Agee.

Digital Realty Trust inc. (NYSE: DLR) cut to Neutral at Macquarie.

Fortinet Inc. (NASDAQ: FTNT) lowered guidance and shares are down 17%. It was downgraded to the equivalent of Neutral or Hold by BofA/Merrill Lynch, Needham, Wells Fargo and perhaps other firms.

Kraft Foods Inc. (NASDAQ: KRFT) started as Market Perform at Wells Fargo.

Microsoft Corp. (NASDAQ: MSFT) cut to Sell from Neutral at Goldman Sachs (FULL SUMMARY) and cut to Neutral from Buy at Nomura.

Mondelez International Inc. (NASDAQ: MDLZ) started as Outperform at Wells Fargo.

Schlumberger Ltd. (NYSE: SLB) maintained Buy with $90 target price but lowered earnings estimates ahead of earnings at Argus.

Toll Brothers Inc. (NYSE: TOL) raised to Neutral from Negative at Susquehanna.

Under Armour Inc. (NYSE: UA) reiterated Outperform and raised target to $64 from $60 at Credit Suisse.

Jefferies raised its targets and estimates on many Big Pharma stocks.

Merrill Lynch sees upside earnings surprises from these eight large companies during earnings season.

Argus made many big changes in its model portfolios today.