Top Analyst Upgrades and Downgrades: EMC, IBM, Procera Networks, Wayfair, Yelp and More
October 10, 2014 by Jon C. Ogg
These are this Friday’s top analyst upgrades and downgrades featured by 24/7 Wall St.
EMC Corp. (NYSE: EMC) was started as Buy with a $37 price target (versus a $28.39 close) at Jefferies. As a reminder, EMC has started to come under activist pressure– and its most recent response was rather odd.
International Business Machines Corp. (NYSE: IBM) was started with an Underperform rating and a $163 price target (versus a $186.42 close) at Jefferies. We also showed how much this stock is underperforming under Ginny Rometty.
Procera Networks Inc. (NASDAQ: PKT) lowered guidance and sees a 25% revenue decline now. Analysts have jumped all over it: Sterne Agee cut to Neutral, cut to Hold at Needham, cut to Market Perform at William Blair and cut to Hold at Stifel.
Wayfair LLC (NYSE: W) was started with a Buy with a $34 price target (versus a $26.71 close) at Janney Capital Markets. This appears to be the first analyst rating from a well-known firm after the Wayfair IPO.
Yelp Inc. (NYSE: YELP) was started as Buy with an $85 price target (versus a $69.65 close) at Sterne Agee. The call acknowledges short-term volatility and risks but long term the firm sees it positioned better than peers with high growth.
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Other Key Analyst Calls
Avon Products Inc. (NYSE: AVP) was raised to Neutral from Sell at UBS.
Brinker International Inc. (NYSE: EAT) was started as Market Perform at BMO Capital Markets.
Chipotle Mexican Grill Inc. (NYSE: CMG) was started as Market Perform at BMO Capital Markets.
CIT Group Inc. (NYSE: CIT) was raised to Neutral from Underperform at Macquarie.
E.I. du Pont de Nemours and Co. (NYSE: DD), aka DuPont, was raised to Buy from Hold at Jefferies.
Endo International Inc. (NASDAQ: ENDP) was raised to Overweight from Neutral at Piper Jaffray.
Halliburton Co. (NYSE: HAL) was raised to Buy from Hold with a price target of $75 (versus a $57.28 close) at Soc-Gen.
Hewlett-Packard Co. (NYSE: HPQ) was started as Hold with a $38 price target (versus a $34.32 close) at Jefferies.
Johnson & Johnson (NYSE: JNJ) was raised to Neutral from Underperform at Credit Suisse.
Nimble Storage Inc. (NYSE: NMBL) was started with a Buy rating and $33 price target at Jefferies.
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Seagate Technology PLC (NASDAQ: STX) was started as Buy and was given a $70 price target (versus a $56.23 close) by Jefferies.
T-Mobile US Inc. (NYSE: TMUS) was raised to Buy from Hold at Jefferies.
Weatherford International PLC (NYSE: WFT) was raised to Buy from Hold with a price target of $24 (versus a $18.03 close) at Soc-Gen.
Western Digital Corp. (NASDAQ: WDC) was started as Buy with $124 price target (versus a $93.39 close) at Jefferies.
In case you missed Thursday’s top analyst upgrades and downgrades, they were included Apple, Gap, Intel, J.C. Penney, Kinder Morgan and more than a dozen more.
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