Top Analyst Upgrades and Downgrades: Applied Materials, Broadcom, Cisco, Genworth, SanDisk and More
Stocks were indicated higher on Thursday morning and the market is still challenging all-time highs. Investors have proven day after day that they will buy stocks when they are discounted or overlooked. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new trading and investment ideas for its readers. Some of these analyst reports cover stocks to buy, and some cover stocks to sell or avoid.
24/7 Wall St. has also created a list of the most revered DJIA stocks since the October 15 V-bottom.
These are this Thursday’s top analyst upgrades, downgrades and initiations.
Alliant Techsystems Inc. (NYSE: ATK) was downgraded to Hold from Buy on an uncertain outlook at Argus.
Applied Materials Inc. (NASDAQ: AMAT) was raised to Outperform from Neutral with a $26 price target (versus a $22.49 close) at Credit Suisse. This is an unusual call when you consider that this chip equipment giant reports earnings today after the close.
Broadcom Corp. (NASDAQ: BRCM) was raised to Buy from Neutral with a $48 price target (versus a $41.15 close) at Goldman Sachs.
Bristol-Myers Squibb Co. (NYSE: BMY) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Canadian Solar Inc. (NASDAQ: CSIQ) was reiterated as Buy after earnings at Canaccord Genuity, but the price target was cut to $46 from $48. Here is our earnings analysis on Canadian Solar.
Capital One Financial Corp. (NYSE: COF) was started as Buy at Deutsche Bank.
Cisco Systems Inc. (NASDAQ: CSCO) was reiterated as Underperform and with a $20 price target at Credit Suisse. Wells Fargo maintained its Outperform rating and its valuation range of $27 to $29. Sterne Agee maintained its Buy rating and $28 price target. Here is the full Cisco earnings analysis.
Discover Financial Services (NYSE: DFS) was downgraded to Hold from Buy at Deutsche Bank.
EMC Corp. (NYSE: EMC) was started as Hold at Maxim Group.
Genworth Financial Inc. (NYSE: GNW) was raised to Outperform from Market Perform at Raymond James, but this is also after shares have been cut in half from their 52-week high.
Jabil Circuit Inc. (NYSE: JBL) was downgraded to Neutral from Buy at Goldman Sachs.
Macy’s Inc. (NYSE: M) was downgraded to Market Perform from Outperform at Wells Fargo.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was downgraded to Sell from an already cautious Neutral rating at Goldman Sachs.
Quest Diagnostics Inc. (NYSE: DGX) was raised to Buy from Hold at Deutsche Bank.
Rocket Fuel Inc. (NASDAQ: FUEL) was reiterated as Outperform and with a $31 price target after earnings at Credit Suisse. This closed at $16.23 before earnings and was indicated up around $19 in early trading indications on Thursday.
SanDisk Corp. (NASDAQ: SNDK) was raised to Buy from Neutral at Goldman Sachs.
Tyson Foods Inc. (NYSE: TSN) was started as Outperform with a $48 price target (versus a $39.87 close) at RBC Capital Markets.
VMware Inc. (NYSE: VMW) was started as Buy with a $100 price target (versus a $86.50 close) at Maxim Group.
In case you missed Wednesday’s top analyst upgrades and downgrades, they included Comcast, Groupon, HCA, J.P. Morgan, JetBlue, NetApp, Verifone and a dozen or so more.