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Top Wall Street Analyst Downgrades Include Apple, Amgen, Banks

Investors frequently get to see the analyst upgrades and Buy ratings from Wall St. firms. They often do not get to see or they overlook the analyst downgrades and lists of stocks to sell or to avoid. We review many fresh research calls each and every day to find great ideas from value stocks to growth stocks to dividend stocks, and we have broken out the negative analyst calls today.

These are this Wednesday’s top analyst downgrades and cautious research notes from Wall St.

Amgen Inc. (NASDAQ: AMGN) was downgraded to Neutral from Overweight at Piper Jaffray after sales were light.

Apple Inc. (NASDAQ: AAPL) was downgraded to Market Perform from Outperform with a $435 upside price target at BMO Capital Markets after the earnings, dividend and buyback news. Other forms have lowered their price targets and will be updated later. We also pointed out this morning that Apple’s woes have a ripple effect on other companies.

AT&T Inc. (NYSE: T) was downgraded to Equal Weight at Morgan Stanley and downgraded to Neutral at Citigroup. We also labeled this report as the death of growth.

DeVry Inc. (NYSE: DV) was downgraded to Hold from Buy at Deutsche Bank.

Discover Financial Services (NYSE: DFS) was downgraded to Hold from Buy at Jefferies.

Edwards Lifesciences Corp. (NYSE: EW) had disappointing sales and guidance and shares are indicated down about 15% at a new 52-week low. We have seen so far that Lazard downgraded the drug company to Neutral from Buy and that RBC Capital Markets downgraded it to Sector Perform from Outperform.

Randgold Resources Ltd. (NASDAQ: GOLD) was given the dubious call of the “Bear of the Day” at Zacks Investment Research. The firm rates it a Strong Sell that faced sharp downward revisions of its numbers.

Vocus Inc. (NASDAQ: VOCS) is the leader of the pack on what is now Sell stocks after missing earnings and guiding lower for the coming quarter and full year. Shares are down more than 30%, under $10 to a new 52-week low. Raymond James and FBR Capital Markets both cut the ratings to Market Perform. Stifel Nicolaus cut its rating to Hold.

We want to point out one key report that may put a drag on banking earnings and stocks ahead. Late on Tuesday came a report from Fitch and the gut check shows that the best may have already been seen from the banking stocks in 2013 for J.P. Morgan Chase & Co. (NYSE: JPM) and other major banks.

See also: Top Analyst Upgrades and Positive Research Calls