Top Analyst Upgrades and Downgrades: ADTRAN, Apollo, KKR, Cogent, GoPro, NOV and More

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Stocks were firm on Wednesday ahead of the release of the FOMC minutes. One trend we are seeing is that investors keep proving with real dollars that they will buy oversold stocks on dips. They are also looking for undervalued or overlooked stock stories. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new investment and trading ideas for our readers. Some analyst reports cover stocks to buy, and some cover stocks to sell or to avoid.

These are this Wednesday’s top analyst upgrades and downgrades featured by 24/7 Wall St.

ADTRAN Inc. (NASDAQ: ADTN) was raised to Buy from Neutral at Goldman Sachs.

Glu Mobile Inc. (NASDAQ: GLUU) was raised to Buy from Hold with a $5.90 price target (versus a $4.76 close) at Benchmark Securities.

GoPro Inc. (NASDAQ: GPRO) was downgraded to Neutral from Overweight at Piper Jaffray.

Silver Spring Networks Inc. (NYSE: SSNI) was downgraded to Neutral from Buy and the price target was slashed to $12 from $18 (versus a $9.22 close) at Goldman Sachs.

Cogent Communications Holdings Inc. (NASDAQ: CCOI) was raised to Outperform from Market Perform at Raymond James. Canaccord Genuity called it dazed and confused. SunTrust Robinson Humphrey started this with a Neutral rating on Monday.

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Other Key Analyst Calls

Apollo Global Management LLC (NYSE: APO) was started as Outperform with a $32 price target (versus a $23.34 close) at Credit Suisse.

BioAmber Inc. (NYSE: BIOA) was started as Buy with a $16 price target (versus a $8.21 close) at Canaccord Genuity. This is almost a call to double based on it building a renewable chemicals business.

Calix Inc. (NYSE: CALX) was raised to Buy from Neutral with a $12 price target at Goldman Sachs.

Cummins Inc. (NYSE: CMI) was started with a Buy rating and $160 price target (versus a $129.57 close) at Stifel.

Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) was started as Outperform with a $32 price target (versus a $21.52 close) at Credit Suisse.

National Oilwell Varco Inc. (NYSE: NOV) was downgraded to Neutral from Overweight at HSBC Securities.

McKesson Corp. (NYSE: MCK) was started as Buy at Citigroup.

Power Integrations Inc. (NASDAQ: POWI) was started as Outperform at Northland Securities.

ALSO READ: 5 Top Chip Stocks That Could Surge in the Fourth Quater

Royal Gold Inc. (NASDAQ: RGLD) was raised to Overweight from Underweight at HSBC Securities.

Vocera Communications Inc. (NYSE: VCRA) was raised to Outperform from Market Perform at FBR Capital Markets.

Walter Energy Inc. (NYSE: WLT) was downgraded to Equal Weight from Overweight at Morgan Stanley.

In case you missed Tuesday’s top analyst upgrades and downgrades, they included Apple, Deere, GT Advanced Tech, J.C. Penney, CBOE, Dunkin’ Brands, Hewlett-Packard, MGM, Noodles and a dozen or so more.