Top Analyst Upgrades and Downgrades: BlackBerry, Chevron, Exxon, SanDisk, Clorox and More
Stocks were soft on Tuesday on a day with very light news and little economic data. Investors still remain eager to find bargains or overlooked equity stories. 24/7 Wall St. reviews dozens of analyst reports each morning of the week to find new investment and trading ideas for its readers. Some analyst reports cover stocks to buy, while others cover stocks to sell or to avoid. These are this Tuesday’s top analyst upgrades, downgrades and initiations covered by 24/7 Wall St.
Analog Devices Inc. (NASDAQ: ADI) was downgraded to Neutral from Overweight at J.P. Morgan.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was downgraded to Market Perform from Outperform at William Blair.
BlackBerry Ltd. (NASDAQ: BBRY) was downgraded to Market Perform from Buy at a firm named Cormark Securities.
Cameco Corp. (NYSE: CCJ) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.
Chevron Corp. (NYSE: CVX) was started with a Neutral rating at J.P. Morgan.
Clorox Co. (NYSE: CLX) was up on Monday due to takeover rumors again. Apparently that was enough to hit target price thresholds triggering fully valued downgrades. The consumer products company was downgraded to Neutral from Buy at Citigroup and to Sell from Neutral at B. Riley. Credit Suisse maintained its Underperform rating but raised the target to $84 from $78.
Del Frisco’s Restaurant Group Inc. (NASDAQ: DFRG) was downgraded to Neutral from Buy at Sterne Agee.
Dick’s Sporting Goods Inc. (NYSE: DKS) was downgraded to Market Perform from outperform by William Blair.
Exxon Mobil Corp. (NYSE: XOM) was started with a Neutral rating at J.P. Morgan.
Gordmans Stores Inc. (NASDAQ: GMAN) was downgraded to Hold from Buy and the price target was slashed to $4 from $9 at Canaccord Genuity.
Marathon Petroleum Corp. (NYSE: MPC) was started as Overweight at J.P. Morgan.
Nanometrics Inc. (NASDAQ: NANO) was downgraded to Hold from Buy at Canaccord Genuity.
ON Semiconductor Corp. (NASDAQ: ONNN) was downgraded to Neutral from Overweight at J.P. Morgan.
Phillips 66 (NYSE: PSX) was started as Overweight at J.P. Morgan.
SanDisk Corp. (NASDAQ: SNDK) was reiterated as Buy with a $112 price target (despite a $10 pullback) at Argus.
Webster Financial Corp. (NYSE: WBS) was started as Outperform at Wells Fargo.
In case you missed Monday’s top analyst upgrades and downgrades, they included Auxilium, Bank of America, CenterPoint, Genworth Financial, MGM, Nokia, Walgreen, Wynn Resorts, Yahoo and more.