Top Analyst Upgrades and Downgrades: BlackBerry, Care.com, Lululemon, Tesla, Veeco and More
February 18, 2014 by Jon C. Ogg
BlackBerry Ltd. (NASDAQ: BBRY) was raised to Market Perform from Underperform with a $10 price target at FBR Capital Markets. The firm is talking up the company’s liquid assets and early momentum acting as a buffer against downside. The firm did warn that a meaningful turnaround is still likely quarters away. Shares closed at $8.98 on Friday and are indicated up 4.5% at $9.39.
Care.com Inc. (NYSE: CRCM) saw its quiet period end. Morgan Stanley started it as Equal Weight and Stifel Nicolaus started it as Hold. Keep in mind that the stock is up at $25.41 after its January IPO was at $17.00, and this traded as high as $29.25 as well.
Lululemon Athletica Inc. (NASDAQ: LULU) was raised to Outperform from Market Perform and the price target was raised to $63 from $53 at Oppenheimer. Keep in mind that Nomura Securities also issued a new Buy rating on Lululemon last week.
Tesla Motors Inc. (NASDAQ: TSLA) saw its price target raised to $215 from $187 at R.W. Baird. Tesla was also continued to be named as a Strong Buy after the fire incident was reported in Canada. The consensus price target is around $168.50, and shares closed at $198.23 on Friday. The street high target price is actually $230.
Veeco Instruments Inc. (NASDAQ: VECO) was raised to Hold from Sell at Canaccord Genuity. The LED maker also saw its price target raised to $41 from $36 at Bank of America Merrill Lynch.
Other Key Analyst Calls
Aixtron A.G. (NASDAQ: AIXG) was raised to Overweight from Neutral by J.P. Morgan.
Athenahealth Inc. (NASDAQ: ATHN) was started as Buy at Citigroup.
Express Scripts Holding Co. (NASDAQ: ESRX) was started as Buy at Citigroup.
Forest Laboratories Inc. (NYSE: FRX) was raised to Overweight from Equal Weight at Morgan Stanley.
Galena Biopharma Inc. (NASDAQ: GALE) was downgraded to Sell from Buy at Cantor Fitzgerald.
SVB Financial Group (NASDAQ: SIVB) was raised to Strong Buy from Outperform at Raymond James.
Universal Display Co. (NASDAQ: OLED) was raised to Hold from Sell at Canaccord Genuity.
Weight Watchers International Inc. (NYSE: WTW) was downgraded to Underweight with a $16 price target at Barclays.
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