These are this Wednesday’s top analyst upgrades and downgrades featured by 24/7 Wall St.
Cree Inc. (NASDAQ: CREE) was indicated down well over 10% after disappointing earnings. The LED company was downgraded to Hold from Buy and the price target was slashed to $29 from $41 at Canaccord Genuity.
Coca-Cola Co. (NYSE: KO) saw a 6% drop after earnings and guidance showed more woes for sugar-water drinks. The beverage giant was downgraded to Sell from Hold and the price target was set at $37.50 (versus a $40.68 close) at Soc-Gen.
Ocwen Financial Corp. (NYSE: OCN) was downgraded to Hold from Buy at Evercore on the heels of its New York state investigation into backdating foreclosure and loan-modification letters. Merrill Lynch also downgraded the stock to Neutral from Buy and slashed the price target to $23 from $35.
3D Systems Corp. (NYSE: DDD) was started as Outperform with a $57 price target (versus a $43.38 close) at Oppenheimer. The timing of this call was ahead of 3D’s earnings warning that has taken shares down 8% or so, but most investors will now be looking at the call versus the warning.
Yahoo! Inc. (NASDAQ: YHOO) was raised to Outperform from Market Perform and the price target was raised to $50 from $40 at FBR Capital Markets. This was also one of the five top earnings winners that had carryover into Wednesday.
Other Key Analyst Calls
AOL Inc. (NYSE: AOL) upgraded to Buy from Hold with a $48 price target (versus a close of $48) at Evercore.
ARM Holdings PLC (NASDAQ: ARMH) may have fallen almost 5% after earnings on Tuesday, but the mobile processor designer was raised to Buy from Neutral at UBS.
Chesapeake Energy Corp. (NYSE: CHK) was raised to Buy from Neutral at UBS.
Cognex Corp. (NASDAQ: CGNX) was started as Outperform with a $46 price target (versus a $39.14 close) at Oppenheimer.
Dean Foods Co. (NYSE: DF) was raised to Overweight from Equal Weight with a $17 price target (versus a $13.93 close) at Morgan Stanley.
ExOne Co. (NASDAQ: XONE) was started as Outperform with a $35 price target at Oppenheimer.
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Groupon Inc. (NASDAQ: GRPN) was started as Buy with an $8 price target (versus a $6.22 close) at Brean Capital.
Hecla Mining Co. (NYSE: HL) was downgraded to Underperform from Market Perform at BMO Capital Markets.
Hess Corp. (NYSE: HES) was raised to Buy from Neutral at UBS, and it was started as Equal Weight with a $104 price target at Barclays. Hess closed at $81.34 on Tuesday.
Regions Financial Corp. (NYSE: RF) was downgraded to Outperform from Strong Buy, and the price target was cut to $11 from $12 (versus a $9.26 close) at Raymond James.
Stratasys Ltd. (NASDAQ: SSYS) was started at Perform at Oppenheimer.
Texas Instruments Inc. (NASDAQ: TXN) was raised to Outperform from Market Perform at Bernstein.
Yelp Inc. (NYSE: YELP) was started as Hold at Brean Capital, almost immediately ahead of its earnings report.
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In case you missed Tuesday’s top analyst upgrades and downgrades, they included Apple, BHP, Ford, GM, IBM, NetEase, Twitter and a dozen or so more.
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