Top Analyst Upgrades and Downgrades: AMD, ARM, Barrick, Netflix, Teva, Valero and More
Stocks have recovered from their sell-off as market jitters have dimmed. Now earnings season is in full swing, and investors have to be wondering where the opportunities are — and where the next money traps are lurking. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week for new ideas. Some of these analyst reports cover stocks to buy, while some cover stocks to sell or to avoid. These are this Tuesday’s top analyst upgrades, downgrades and initiations.
Advanced Micro Devices Inc. (NYSE: AMD) was reiterated as Hold at Argus, despite higher earnings and despite better cash flow. This remains one of our candidates for stocks that could double in 2014.
ARM Holdings PLC (NASDAQ: ARMH) was reiterated as Buy, but the price target was trimmed to 1450p from 1500p by Goldman Sachs. The firm called the stock price an attractive entry point.
AstraZeneca PLC (NYSE: AZN) was raised to Buy from Neutral at Citigroup. Meanwhile, Jefferies said that AstraZeneca looks like a poor merger target for Pfizer, as was rumored on Monday.
Barrick Gold Co. (NYSE: ABX) was raised to Buy from Neutral at Goldman Sachs, on the heels of merger talks breaking down with Newmont.
Del Frisco’s Restaurant Group Inc. (NASDAQ: DFRG) was downgraded to Market Perform from outperform at Raymond James.
GSV Capital Corp. (NASDAQ: GSVC) was started as Buy with a $16 price target at Roth Capital.
Home Depot Inc. (NYSE: HD) was raised to Outperform from Market Perform with a $90 price target at BMO Capital Markets.
Kinder Morgan Energy Partners L.P. (NYSE: KMP) was reiterated as Buy with a $93 price target by Argus.
NASDAQ OMX Group Inc. (NASDAQ: NDAQ) was raised to Outperform from Neutral by Credit Suisse.
Netflix Inc. (NASDAQ: NFLX) was raised to Buy from Hold at Cantor Fitzgerald; FBR maintained its Market Perform rating but raised the price target to $393 from $356; and Raymond James raised its rating to Outperform from Market Perform. We suggested that Netflix’s price hike is different in 2014 vs. 2011, but take our poll: How Much Can Netflix Really Hike Its Price?
Ruth’s Hospitality Group Inc. (NASDAQ: RUTH) was raised to Outperform from Market Perform by Raymond James.
Synaptics Inc. (NASDAQ: SYNA) was started with a Buy rating and $77 price target at Sterne Agee.
2U Inc. (NASDAQ: TWOU) saw its quiet period come to an end: Oppenheimer started as Outperform, Goldman Sachs started as Buy and Credit Suisse started as Outperform.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was started with a Buy rating and $61 price target at Jefferies.
Under Armour Inc. (NYSE: UA) was reiterated as Buy after solid first-quarter sales momentum and after the stock split at Canaccord Genuity.
Valero Energy Corp. (NYSE: VLO) was downgraded to Neutral from Buy at Bank of America Merrill Lynch, just a day after hitting 52-week and multiyear highs.