Top Analyst Upgrades and Downgrades: GE, Gilead, Oracle, Under Armour, El Pollo Loco and More
Stocks were trying to stage a small comeback on Tuesday after an overseas and oil induced sell-off from Monday that took the Dow Jones Industrial Average down about 300 points. The trend that held true each and every time there was a sell-off in 2014 was that investors would buy stocks on weakness that offer value or that have been overlooked by the market. With a new year and with the bull market almost six years old, the question is whether the buying appetite will hold up. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new investment and trading ideas for its readers. Some of these analyst reports cover stocks to buy, and others cover stocks to sell or avoid.
Just as we saw in the prior year, investors may also wonder if the year-end rally ate into the current year’s gains. These are this Tuesday’s top analyst upgrades, downgrades and initiations seen from Wall Street research calls.
General Electric Co. (NYSE: GE) was downgraded to Hold from Buy and the price target was cut to $28 from $30 (versus a $24.60 close) at Deutsche Bank.
Gilead Sciences Inc. (NASDAQ: GILD) was started as Overweight with a $125 price target (versus a $96.79 close) at Barclays.
Oracle Corp. (NYSE: ORCL) was raised to Overweight from Neutral and the price target was raised to $49 from $44 (versus a $43.59 close) at Piper Jaffray.
Under Armour Inc. (NYSE: UA) was raised to Buy from Neutral at Citigroup. This is just a day after Jefferies cut its rating to Hold from Buy.
El Pollo Loco Holdings Inc. (NASDAQ: LOCO) was raised to Buy from Hold at Jefferies, but the price target was cut to $27 from $30 (versus a $20.86 close) in the call. This is just a day after Baird raised its rating to Outperform with a $34 price target.