Stocks fell again on Tuesday, and Wednesday’s indications are lower as well. Investors still want upside, but they are also getting more selective on stocks versus the stock market in general. Each morning, 24/7 Wall St. reviews dozens of analyst research reports to find new investment and trading ideas. Some analyst reports cover stocks to buy, while other research reports cover stocks to sell or stocks to avoid.
We have a massive representation of analyst calls for Wednesday morning, and these were the top analyst upgrades, downgrades and initiations from Wall Street analysts.
Groupon Inc. (NASDAQ: GRPN) posted earnings that just didn’t please anyone outside of short sellers. Wunderlich has downgraded the daily deals site to Hold from Buy, and it cut the target price to $6 from $10. Sterne Agee maintained its Buy rating but lowered estimates and said it remains a “prove me” story.
Micron Technology Inc. (NASDAQ: MU) was reiterated as Buy at Bank of America Merrill Lynch with a $43 price target after the DRAM maker hosted its analyst day in Hong Kong. Sterne Agee also maintained its Buy rating and $40 price target. Credit Suisse maintained its Outperform rating and its $50 price target.
RingCentral Inc. (NYSE: RNG) rose handily on Tuesday after portfolio manager Dan Niles touted it as a telecom disruption company. Now Oppenheimer has started coverage with an Outperform rating and given it a $20 price target (versus a $14.66 close).
Target Corp. (NYSE: TGT) was downgraded to Neutral from Buy and its price target was cut to $59 from $65 (versus a $58.03 close) at Goldman Sachs.
Tesla Motors Inc. (NASDAQ: TSLA) was started as Outperform and given a $316 price target (versus a $238.49 close) at Pacific Crest.