Top Analyst Upgrades and Downgrades: ARM, Cisco, FireEye, Nike, Twitter, Yelp and More

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Stocks have now pulled back handily after hitting new all-time highs, and investors are leaning toward defensive stocks. That being said, some investors are also looking for bargains in case the market snaps back as well. 24/7 Wall St. reviews many analyst research reports each morning, on the hunt for new ideas for its readers. Some analyst calls cover stocks to buy, while some cover stocks to sell. These are this Tuesday’s top analyst upgrades, downgrades and initiations.

ARM Holdings PLC (NASDAQ: ARMH) was raised to Market Perform from Underperform at Bernstein.

Castlight Health Inc. (NYSE: CSLT) saw its quiet period end. The big data player for health care was started as Neutral at Goldman Sachs, as Outperform at Raymond James, as Buy at Stifel and as Buy at Canaccord Genuity.

Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Hold from Buy at Wunderlich.

FireEye Inc. (NASDAQ: FEYE) was raised to Outperform from Neutral at Wedbush.

Lumenis Ltd. (NASDAQ: LMNS) saw its quiet period end. It was started as Outperform at Credit Suisse, as Buy at Goldman Sachs and as Outperform at Wells Fargo.

Nike Inc. (NYSE: NKE) was raised to Buy from Hold with an $87 price target at Stifel.

Questcor Pharmaceuticals Inc. (NASDAQ: QCOR) was downgraded to Hold from Buy at Jefferies.

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Spectranetics Corp. (NASDAQ: SPNC) was maintained as Buy after disappointing earnings, but the price target was lowered to $30 from $35, at Canaccord Genuity.

Twitter Inc. (NYSE: TWTR) was with a Buy rating and a $55 target at Janney.

U.S. Ecology Inc. (NASDAQ: ECOL) was raised to Buy from Hold at KeyBanc Capital Markets and it was raised to Outperform from Market Perform at Wells Fargo.

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WABCO Holdings Inc. (NYSE: WBC) was already rated as Buy but it was added to the prized Conviction Buy List at Goldman Sachs. The news also overlaps with WABCO naming a new chief financial officer.

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Yelp Inc. (NYSE: YELP) was raised to Buy from Neutral at SunTrust.