Top Analyst Downgrades, Stocks to Sell: Ariad, Goodyear, Myriad, Kellogg and More
Stocks are at all-time highs now that a deal has been reached in Washington, D.C., and investors have to wonder which stocks are set to keep rising and which ones may have overstayed their welcome. 24/7 Wall St. reviews many fresh research calls each and every morning on the hunt for new ideas, and we have broken out the negative analyst calls today. These are this Monday’s top analyst downgrades and cautious research notes from Wall Street.
Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) was downgraded to Perform from Outperform at Oppenheimer after last week’s second recent share price implosion.
Celestica Inc. (NYSE: CLS) was downgraded to Hold from Buy at Canaccord Genuity.
General Mills Inc. (NYSE: GIS) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.
Goodyear Tire & Rubber Co. (NYSE: GT) was downgraded to Hold from Buy at Deutsche Bank and downgraded to Neutral from Buy at Goldman Sachs.
Kaiser Aluminum Corp. (NASDAQ: KALU) was downgraded to Neutral on pricing pressure and lack of catalysts, according to Sterne Agee.
Kellogg Co. (NYSE: K) was downgraded to Underperform from Buy and the price target was cut to $62 from $69 at Bank of America Merrill Lynch.
Myriad Genetics Inc. (NASDAQ: MYGN) was downgraded to Underperform from Neutral with a $20 price target (versus a $24.99 close) at Credit Suisse.
NII Holdings Inc. (NASDAQ: NIHD) was started as Underperform with a $4.50 price target (versus a $5.63 close) at Credit Suisse.
Turkcell Iletisim Hizmetleri A.S. (NYSE: TKC) was downgraded to Neutral from Buy at UBS.