Top Analyst Upgrades and Downgrades: AIG, BlackBerry, CenturyLink, Deckers Outdoor, Whole Foods and More
Investors are trying to make money while avoiding downside, and the earnings reports are coming out fast and furious. 24/7 Wall St. looks over dozens of Wall Street analyst research reports each morning for new ideas. Some are stocks to buy and some are stocks to sell. These are this Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research firms.
Allergan Inc. (NYSE: AGN) was downgraded to Hold from Buy a Stifel. The firm thinks inactivity on the part of Allergan may make the company vulnerable to investor discontent as Bill Ackman and Valeant Pharmaceuticals purse their hostile takeover bid. Stifel also cites the stock’s 50% gain year to date.
American International Group Inc. (NYSE: AIG) was featured in Barron’s as a stock that could double in five years as better technology and more prudent growth generate stronger results.
Autodesk Inc. (NASDAQ: ADSK) was upgraded to Outperform from Sector Perform at boutique shop Pacific Crest Securities.
Blackberry Ltd. (NASDAQ: BBRY) was upgraded to Perform from Underperform at Oppenheimer.
CenturyLink Inc. (NYSE: CTL) was downgraded to Market Perform from Outperform, but the target price was raised to $33 from $32 at BMO Capital Markets.
Citrix Systems Inc.’s (NASDAQ: CTXS) price target was raised at RBC Capital Markets to $66 from $63 on an improved outlook and better-than-expected reported earnings.
Clean Harbors Inc. (NYSE: CLH) was downgraded to Outperform from Strong Buy at Raymond James.
Commvault Systems Inc. (NASDAQ CVLT) was maintained as Buy but the price target was slashed down to $64 from $93 versus a $47.56 close at Sterne Agee. The firm cited earnings results that were short of expectations.
Corium International Inc. (NASDAQ: CORI) was initiated as a Buy at Jefferies.
Deckers Outdoor Corp. (NASDAQ: DECK) was raised to Neutral from Underperform and the price target was raised to $82 from $61 at Credit Suisse.
DeVry Education Group Inc.’s (NYSE: DV) target price was raised to $44 from $34 at Compass Point after the company reported better-than-expected earnings.
Diageo PLC (NYSE: DEO) was downgraded to Neutral from Outperform by Credit Suisse.
Dreamworks Animation SKG Inc. (DWA) was downgraded to Underperform from Neutral with a price target of $22 at Bank of America Merrill Lynch.
Hibbett Sports Inc. (NASDAQ: HIBB) was initiated with a Buy at Merrill Lynch with a $64 target.
Hornbeck Offshore Services Inc. (NYSE: HOS) was raised to Buy from Hold with a target price hike to $55 from $47 at Wunderlich.
Reinsurance Group of America Inc. (NYSE: RGA) was reinstated as Market Perform at Keefe Bruyette and Woods.
Rubicon Project Inc. (RUBI) was started with an Overweight rating and $27 price target a Morgan Stanley. Oppenheimer started coverage at Perform with a $19 price target, and RBC started it as Sector Perform with a $2 price target.
TD Ameritrade Holding Corp. (NYSE: AMTD) was raised to Outperform from Market Perform with a price target of $40 at Sanford Bernstein.
Time Warner Cable Inc. (NYSE: TWC) had its target price raised from $142 to $155 at RBC Capital as the merger with Comcast appears on track for the end of the year.
Universal Health Services Inc. (NYSE: UHS) was upgraded to Positive from Neutral at Susquehanna, which also raised its price target from $88 to $105.
Whole Foods Market Inc. (NASDAQ: WFM) was maintained as Neutral but the price target was cut to $50 from $55 at Credit Suisse. The firm said there were emerging headwinds and suggests that the pullback may not be as big of a buying opportunity as others may think.
Zimmer Holdings Inc.’s (NYSE: ZMH) price target was lifted to $113 from $105 and it remains a stock to Buy at Cantor Fitzgerald.