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Top Analyst Upgrades and Downgrades: Apache, Apple, HP, Qualcomm, Sprouts and More

Hewlett-Packard Co. (NYSE: HPQ) was raised to Neutral from Sell and the price target was raised to $32 from $25 (versus a $33.25 close) by Goldman Sachs. While this remains a cautious call with a slightly underwhelming price target, Goldman Sachs had continuously been one of the more negative firms tracking Hewlett-Packard in its turnaround.

Halozyme Therapeutics Inc. (NASDAQ: HALO) was raised to Buy from Neutral and given a $16 price target (versus a $9.39 close) by UBS.

HollySys Automation Technologies Ltd. (NASDAQ: HOLI) was started with a Buy rating and $26 price target (versus a $22.54 close) at Goldman Sachs.

Navios Maritime Partners L.P. (NYSE: NMM) was started with a Buy rating and a $22 price target (versus a $18.68 close) by Jefferies.

Orexigen Therapeutics Inc. (NASDAQ: OREX) was maintained as Outperform with a $10 price target but had its projected revenue estimates lowered by Credit Suisse after the PDUFA date was extended by three months.

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Pep Boys – Manny, Moe & Jack Inc. (NYSE: PBY) was reiterated with a Buy rating and $15 price target (versus a $11.25 close) at Argus, based on a solid earnings report and outlook.

Qualcomm Inc. (NASDAQ: QCOM) was favorably mentioned by Canaccord Genuity after management meetings affirm that it is well positioned for strong trends through 2015 trends. The firm raised its price target to $95 from $90 (versus a $79.21 close) in the call.

Sprouts Farmers Market Inc. (NASDAQ: SFM) was raised to Outperform from Neutral and the price target was raised to $34 from $31 by Credit Suisse. The firm feels that the recent pullback is a buying opportunity.

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Other Key Analyst Calls

ImmunoGen Inc. (NASDAQ: IMGN) was raised to Neutral from Sell at UBS.

Statoil ASA (NYSE: STO) was downgraded to Hold from Buy at Deutsche Bank in a valuation call.

SVB Financial Group (NASDAQ: SIVB) was raised to Outperform from Sector Perform at RBC Capital Markets.