Top Analyst Upgrades and Downgrades: Alibaba, BBVA, FireEye, J.P. Morgan, Time Warner, Zynga and More
Stocks were indicated higher yet again on Tuesday, but investors should know that most government offices and the bond market are closed for Veterans Day. One key issue that has been seen over and over is that investors have proven that they are eager to buy stocks when they are discounted or overlooked. 24/7 Wall St. reviews dozens of analyst reports each morning to find new investment and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or avoid.
These are this Tuesday’s top analyst upgrades, downgrades and initiations. Coverage may seem thin outside of ADSs and online security because this is Veterans Day.
Alibaba Group Holding Ltd. (NYSE: BABA) was started with an Outperform rating with a $133 price target at Oppenheimer. The consensus price target is closer to $118, and the street’s highest price target is up at $135.
ArcelorMittal (NYSE: MT) was downgraded to Neutral from Buy at Citigroup.
Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) was raised to Buy from Reduce at Nomura.
Barracuda Networks Inc. (NYSE: CUDA) was started as Outperform at Macquarie.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) was started as Outperform at Macquarie.
FireEye Inc. (NASDAQ: FEYE) was started as Neutral at Macquarie.
IMAX Corp. (NYSE: IMAX) was raised to Buy from Neutral at Goldman Sachs.
JPMorgan Chase & Co. (NYSE: JPM) was downgraded to Market Perform from Outperform at Keefe Bruyette Woods.
Juniper Networks Inc. (NYSE: JNPR) was raised to Buy from Neutral at Nomura.
magicJack VocalTec Ltd. (NASDAQ: CALL) had its estimates lowered while it was maintained Hold and the target was cut to $12 from $14 at Canaccord Genuity.
Palo Alto Networks Inc. (NYSE: PANW) was started as Outperform at Macquarie.
Proofpoint Inc. (NASDAQ: PFPT) was started as Outperform at Macquarie.
RingCentral Inc. (NYSE: RNG) was started as Outperform at Macquarie.
Time Warner Inc. (NYSE: TWX) was raised to Buy from Neutral at Goldman Sachs, but the big news is that it was added to the prized Conviction Buy List, and the price target was raised to $90 from $84, versus a $77.33 closing price.
Vale S.A. (NYSE: VALE) was downgraded to Sell from an already cautious Neutral rating by Citigroup.
Yamana Gold Inc. (NYSE: AUY) was raised to Overweight from Neutral at HSBC.
Zynga Inc. (NASDAQ: ZNGA) was raised to Buy from Hold and the price target was set at $4.50 (versus a $2.48 close) at Jefferies.
In case you missed Monday’s top analyst upgrades and downgrades, they included Abercrombie & Fitch, American Eagle, BP, Biomarin Pharmaceutical, Genworth Financial, Home Depot, Lowe’s, Petrobras, Target and many more.