Top Analyst Upgrades and Downgrades: Facebook, Netflix, PetSmart, Valero and More

November 1, 2013 by Jon C. Ogg

We are nearing the end of earnings season, and stocks have challenged new all-time highs. Now investors are starting to think about 2014, and the notion of which stocks to buy and which ones to sell has to be considered. 24/7 Wall St. spends each morning reviewing Wall Street analyst research notes to find new ideas for our readers. These are this Friday’s top analyst upgrades, downgrades and initiations seen from Wall Street research firms.

Alpha Natural Resources Inc. (NYSE: ANR) was raised to Market Perform from Underperform at Raymond James. Sterne Agee maintained its Buy rating and a $14 price target (versus a $7.00 close and $4.78 to $10.74 trading range in the past year).

Enterprise Products Partners L.P. (NYSE: EPD) was maintained as Buy with a $70 price target (versus a $63.28 close) at Argus.

Facebook Inc. (NASDAQ: FB) was raised to Buy with a $63 price target at Argus.

General Growth Properties Inc. (NYSE: GGP) was raised to Buy from Neutral at Bank of America Merrill Lynch.

Gilead Sciences Inc. (NASDAQ: GILD) was reiterated as Buy and the price target was raised to $84 from $70, based on new valuations, at Argus.

Greenbrier Companies Inc. (NYSE: GBX) was raised all the way to Buy from Underperform, and the price target was raised to $34 from $20 (versus a $26.54 close), at Bank of America Merrill Lynch.

Netflix Inc. (NASDAQ: NFLX) was raised to Outperform and the price target was raised to $420 from $383 (versus a $322.48 close) at RW Baird.

Penn Virginia Corp. (NYSE: PVA) was raised to Outperform from Neutral and the price target was raised to $11 from $7 at Credit Suisse; Canaccord Genuity also reiterated its Buy rating and raised its price target to $11 from $8 (versus $8.51 close).

PetSmart Inc. (NASDAQ: PETM) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.

Valero Energy Corp. (NYSE: VLO) was raised to Outperform from Market Perform at Cowen & Co.

Also read: 10 Serious Reasons Apple Sold Off Rather Than Rallying

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