Stocks were up again on Wednesday after the European Central Bank kept its interest rates on hold. Investors have proven that they will buy stocks on weakness, a trend that is now over three years old. 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 calls cover stocks to buy, while other reports cover stocks to sell or to avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Akorn Inc. (NASDAQ: AKRX) was started as Overweight with a $61 price target (versus a $51.85 close) at JPMorgan.
Ameriprise Financial Inc. (NYSE: AMP) was raised to Overweight from Equal Weight at Morgan Stanley.
Builders FirstSource Inc. (NASDAQ: BLDR) was raised to Buy from Neutral with a $19 price target (versus a $13.59 close) at Sterne Agee.
Chipotle Mexican Grill Inc. (NYSE: CMG) was started as Outperform with a $775 target price (versus a $667.85 close) at Cowen.
Cimarex Energy Co. (NYSE: XEC) was started as Neutral with a price target of $125 (versus a $127.01 close) at Goldman Sachs. Macquarie downgraded it to Neutral from Outperform. Stifel has a Buy rating but changed the price target to $150 from $130.
CSX Corp. (NYSE: CSX) was reiterated as Buy and the price objective was raised to $38 from $37 at Bank of America Merrill Lynch.
Denbury Resources Inc. (NYSE: DNR) was started as Sell with a $6 price target (versus a $8.86 close) at Goldman Sachs.
GoPro Inc. (NASDAQ: GPRO) was raised to Overweight at Piper Jaffray.
Hi-Crush Partners L.P. (NYSE: HCLP) was downgraded to Neutral from Outperform at R.W. Baird.
Intel Corp. (NASDAQ: INTC) was reiterated as Buy and the price target was raised to $36 from $35 at Topeka Capital Markets. RBC raised its rating to Outperform from Market Perform. Wedbush raised its rating to Outperform from Neutral with a $37 price target. Cowen stuck with its Market Perform rating and lowered the target to $33 from $36. Credit Suisse maintained its Outperform rating and $40 target.
Johnson & Johnson (NYSE: JNJ) was reiterated Buy with a $116 price target (versus a $100.52 close) at Argus.
Laredo Petroleum Inc. (NYSE: LPI) was started as Neutral and with a $15 price target (versus $14.21 close) at Credit Suisse.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was downgraded to Reduce from Hold at BNP Paribas.
Nike Inc. (NYSE: NKE) was raised to Overweight from Neutral at Piper Jaffray.
Rosetta Resources Inc. (NASDAQ: ROSE) was downgraded to Underperform from Neutral at Macquarie.
Staples Inc. (NASDAQ: SPLS) was raised to Buy from Hold with a $21 price target at BB&T Capital Markets.
Starbucks Corp. (NASDAQ: SBUX) was started as Outperform with a $56 price target (versus a $48.30 close) at Cowen.
Symantec Corp. (NASDAQ: SYMC) was maintained as Outperform with a $30 price target (versus a $23.81 close) at Credit Suisse, with a comment that Veritas could be worth $8.8 billion.
ULTA Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA) was raised to Overweight from Neutral with a $170 price target (versus a $152.01 close) at Piper Jaffray.
Vale S.A. (NYSE: VALE) was downgraded to Neutral from Overweight at JPMorgan.
Wells Fargo & Co. (NYSE: WFC) was reiterated as Buy and with a $60 price target (versus a $54.19 close) at Jefferies.
Western Digital Corp. (NASDAQ: WDC) was started as Buy with a $131 price target (versus a $96.16 close) at Maxim Group.
In case you missed Tuesday’s top analyst upgrades, downgrades and initiations, they included Apple, AMC Networks, BP, LendingClub, Monster Beverage, Seagate Technology and about a dozen or so more.