Top Analyst Upgrades and Downgrades: Apple, Alcobra, Deere, GT, J.C. Penney and More
Stocks were weak on Tuesday, but investors keep proving that they will aggressively buy overlooked or oversold stocks when they can. 24/7 Wall St. reviews dozens of brokerage firm analyst research reports each morning of the week for new investment and trading ideas for our readers. Some of these 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.
Apple Inc. (NASDAQ: AAPL) was reinstated as Buy with a $120 price target at Bank of America Merrill Lynch. The firm believes that it is entering the iPhone super-cycle and its estimates are much higher than the consensus estimates.
Alcobra Ltd. (NASDAQ: ADHD) was downgraded to Hold from Buy at Canaccord Genuity on the heels of negative drug studies, but the big news was that the price target was slashed to $9 from $40 in the call.
Deere & Co. (NYSE: DE) was downgraded to Underperform from Neutral at Merrill Lynch.
GT Advanced Technologies Inc. (NASDAQ: GTAT) was suspended from coverage at Canaccord Genuity after the firm’s sudden and unexpected Chapter 11 filing.
J.C. Penney Co. Inc. (NYSE: JCP) was reiterated as Underperform with a $7 price target (versus a $9.44 close) at Credit Suisse, and the call is ahead of the October 8 analyst day with the focus being on cost cutting.