Earnings season has just started, and investors and traders alike are having to face a government shutdown and a debt ceiling debate painfully developing each day. So which companies and sectors offer stocks to buy and which the stocks to sell? Each morning 24/7 Wall St. reviews dozens of Wall Street analyst research reports. The goal is to seek new ideas for our readers. Some end up as stocks to buy and some turn out to be stocks to sell or to avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations seen from Wall Street research firms.
Anadarko Petroleum Corp. (NYSE: APC) was reiterated as Outperform but was added to the U.S. Focus List, and the price target was raised to $122 from $109 as the “Next Big Thing,” according to Credit Suisse. Kansas City Southern (NYSE: KSU) was removed from the U.S. Focus List to make room.
Cubist Pharmaceuticals Inc. (NASDAQ: CBST) was raised to Buy from Neutral at Mizuho Securities.
EOG Resources Inc. (NYSE: EOG) was raised to Outperform from Neutral and the target price was raised to $210 from $175 (versus a $171.46 close) at Credit Suisse, based on clear signs of an improving “rate of change” in the Eagle Ford, Bakken and the Delaware Basin.
Hancock Holding Co. (HBHC) was started as Underperform with a $29 price target at Bank of America Merrill Lynch.
Hess Corp. (NYSE: HES) was downgraded to Neutral from Buy at Citigroup.
IBERIABANK Corp. (NASDAQ: IBKC) was started as Buy with a $66 price target at Bank of America Merrill Lynch.
K12 Inc. (NYSE: LRN) guided its enrollment figures lower, and shares were down double-digits after downgrades by BMO Capital Markets and Baird.
Pacific Sunwear of California Inc. (NASDAQ: PSUN) was downgraded to Neutral from Overweight at Piper Jaffray.
Ralph Lauren Corp. (NYSE: RL) was downgraded to Neutral from Overweight at Piper Jaffray.
SVB Financial Group (SIVB) was started as Buy with a $110 price target at Bank of America Merrill Lynch.
TD Ameritrade Holding Corp. (NYSE: AMTD) was raised to Market Perform from Underperform and the price target was raised by $3 to $27 (versus a $25.57 close) by Keefe Bruyette & Woods.
Texas Capital Bancshares (NASDAQ: TCBI) was started as Buy with a $55 price target at Bank of America Merrill Lynch.
ViroPharma Inc. (NASDAQ: VPHM) was downgraded to Neutral from Buy at Mizuho Securities.
We have several grouped calls on Wednesday as well.
- Credit Suisse was very positive on the drug and pharmaceutical sector in a new research coverage call.
- There are some concerns out there that high-yield MLPs may have to cut their dividends (distributions).
- Credit Suisse has a list of stocks it thinks are S&P 500 Index addition candidates.
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