Top 10 Analyst Upgrades and Downgrades: NetApp, J.P. Morgan, UPS and More
Investors and traders are usually on the lookout for new research ideas that will generate higher income or more profits. 24/7 Wall St. reviews many analyst research calls from Wall Street and from boutique firms to find great ideas in value stocks, growth stocks and dividend stocks. Some are stocks to buy, while some ideas are even stocks to sell. These are 10 of the top analyst upgrades, downgrades and initiations seen from select Wall Street research calls this Monday.
AngloGold Ashanti Ltd. (NYSE: AU) was cut to Underperform from Market Perform at BMO Capital Markets.
Bank of New York Mellon Corp. (NYSE: BK) was raised to Buy from Neutral at Citigroup.
Hartford Financial Services Group Inc. (NYSE: HIG) was cut to Market Perform from Outperform at Keefe Bruyette & Woods.
J.P. Morgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) were both reiterated as Buy and the price targets were raised (to $65 on JPM and $44 on Wells Fargo) after earnings by Sterne Agee.
Leap Wireless International Inc. (NASDAQ: LEAP) has been upgraded at many firms, as analysts were caught off-guard by the AT&T Inc. (NYSE: T) buyout: raised to Market Perform at BMO Capital Markets, to Neutral at R.W. Baird, to Overweight at Barclays and to Neutral at J.P. Morgan.
NetApp Inc. (NASDAQ: NTAP) was raised to Overweight from Equal Weight at Morgan Stanley.
Newmont Mining Corp. (NYSE: NEM) was cut to Market Perform from Outperform at BMO Capital Markets.
Portugal Telecom SGPS S.A. (NYSE: PT) was cut to Underperform from Neutral at BNP Paribas.
United Parcel Service Inc. (NYSE: UPS) has seen many downgrades and estimates cut: cut to Hold at BB&T, cut to Outperform at Raymond James and cut to Neutral at J.P. Morgan.
Get ready for this bull market to become a secular bull market. A technician we have followed for some time is calling for the next cycle to take the S&P 500 from 1,675 or so now up to 2,584 before it is all over. That would be more than 50% more gains in the SPDR S&P 500 (NYSEMKT: SPY).
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