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Top Analyst Upgrades and Downgrades: Apple, Coach, J.C. Penney, Micron, Whole Foods, Vertex and More

It is Wednesday and stocks are trying to find their footing in mixed markets after a fresh sell-off. Investors and traders are getting used to hearing that the raging bull market has become more of a stock picker’s market. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week. We are on the hunt for new research ideas for our readers. Some of the daily analyst calls cover stocks to buy, while some cover stocks to sell or stocks to avoid.

These are this Wednesday’s top Wall Street analyst upgrades, downgrades and initiations.

Apple Inc. (NASDAQ: AAPL) was reiterated as Neutral, given slightly lower estimates and saw its price target raised to $96 from $85.71 at Credit Suisse. The firm still believes that the company continues to build an enviable portfolio of iServices that creates a sustainable competitive advantage.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) was reiterated as Buy with a $80 price target (versus a $60.64 close) by Argus, just ahead of the company’s earnings announcement due Wednesday after the close.

Coach Inc. (NYSE: COH) was downgraded to Underperform from an already cautious Neutral rating, and the price target was cut to $31 from $38 (versus a $34.09 close)at Bank of America Merrill Lynch.

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Diamondback Energy Inc. (NASDAQ: FANG) was reiterated as Buy but the price target was raised to $114 from $93 at Sterne Agee. The report is a sum of the parts analysis after the Viper Energy Partners IPO.