Stocks have backed off of their highs for at least a day now and appear to be taking a breather on Wednesday as well. Investors have to be wondering how to position themselves for the summer ahead now that stocks are close to all-time highs. These same investors are also being told daily by the financial media that the market has migrated from a raging bull market to a stock picker’s market. 24/7 Wall St. reviews dozens of analyst research reports each morning for new ideas for its readers. Some analyst reports covering stocks to buy, and some cover stocks to sell or to avoid.
These are this Wednesday’s top Wall Street analyst upgrades, downgrades and initiations.
Barclays PLC (NYSE: BCS) was downgraded to Neutral from Overweight by HSBC.
BHP Billiton Ltd. (NYSE: BHP) was talked up by Citigroup as one of its top buys for the next year. The firm noted that it has underperformed, but it has better alignment with shareholders and is divesting non-core assets.
Coach Inc. (NYSE: COH) was downgraded to Neutral from Buy and the price target was slashed to $41 from $51 (versus a $40.36 closing price) by Sterne Agee. The firm maintained that its top-line visibility remains low and that its turnaround is just too far out to keep a Buy recommendation on the stock.
Credit Suisse Group A.G. (NYSE: CS) was added to the prized Conviction Buy List at Goldman Sachs, and the official rating was raised to Buy from Neutral.
Cypress Semiconductor Corp. (NASDAQ: CY) was reiterated as Buy with a $13 price target (versus a $10.32 close) at Sterne Agee. The firm believes a strategic partnership with IDEX to do fingerprint area sensors by the first quarter of 2015 could be a positive step forward for the current year.
Deutsche Bank A.G. (NYSE: DB) was raised to Neutral from Sell by Goldman Sachs.