Top Analyst Upgrades and Downgrades: AcelRx, Cisco, CIT, Juniper, Pfizer, Xerox and Many More
Stocks were down marginally in Monday’s early indications, but it felt more like a day looking for direction. Still, investors are seeking upside from stocks. The difference now is that the upside is looking at stock picks rather than relying on a five-an-a-half-year-old bull market that may need a breather. 24/7 Wall St. reviews dozens of analyst reports each morning to find new investment and trading ideas for our readers. Some analyst calls cover stocks to buy. Some analyst reports feature stocks to sell or to avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations from Wall Street firms.
AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) is down close to 30% after a complete response letter from the FDA rejecting its painkiller dispensing device. Canaccord Genuity cut its rating to Hold from Buy and slashed its price target to $8 from $16.
Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Sector Perform from Outperform at Pacific Crest.
CIT Group Inc. (NYSE: CIT) was raised to Overweight from Equal Weight at Morgan Stanley.
DSW Inc. (NYSE: DSW) was downgraded to Underperform from Neutral and given a downside target of $23 (versus a $27.16 close).
El Paso Electric Co. (NYSE: EE) was downgraded to Hold from Buy at Jefferies, and the price target was cut to $39 from $44 (versus a $38.72 close).