Top Analyst Upgrades and Downgrades: Apple, Celladon, Newmont, 3D Systems, Twitter, Disney and More
Stocks were indicated slightly higher on Monday morning after a solid week put the markets within striking distance of all-time highs again. If there is one trend that has remained in place, it is that investors keep buying their favorite stocks during each pullback.
24/7 Wall St. reviews dozens of research reports from analysts each day in order to get new trading and investment ideas for its readers. Some analyst reports cover stocks to buy, and some cover stocks to sell or avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations.
Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) was raised to Neutral from Underweight and the price target was raised to $12 from $9 (versus a $12.59 close) at Piper Jaffray.
Ameren Corp. (NYSE: AEE) was raised to Buy with a $49 target (versus a $42.32 close) at Argus.
American Express Co. (NYSE: AXP) was downgraded to Neutral from Buy and the price target was cut to $82 from $91 at Nomura.
Apple Inc. (NASDAQ: AAPL) was started as Buy with a $160 price target (versus a $130.28 close) at Brean Capital. What should stand out here about this analyst call is that it is on the same morning as earnings, which are due after the close. 24/7 Wall St. has shown that Apple needs to have sold roughly 60 million iPhones in the quarter. Also, the formal earnings report is likely to be trumped by a dividend hike and larger stock buyback plan. Apple has a consensus analyst price target of $142.13, and the highest official analyst price target is up at $185.
Celladon Corp. (NASDAQ: CLDN) is down roughly 70% after its drug failed to meet primary and secondary endpoints. Roth Capital Partners downgraded the stock to Neutral from Buy with a $2 price target (versus a $13.68 close and less than $4 in the premarket). Wedbush Securities downgraded it to Neutral from Outperform, and the price target was slashed to $3 from $29 in the call.
DaVita HealthCare Partners Inc. (NYSE: DVA) was raised to Outperform from Neutral with a $95 price target (versus a $83.91 close) at Baird.
Helmerich & Payne Inc. (NYSE: HP) was raised to Buy from Neutral with a $85 price target at Goldman Sachs.
Marathon Oil Corp. (NYSE: MRO) was reiterated as Outperform at Credit Suisse, and the price target was raised to $36 from $32 (versus $30.33 close).
Marvell Technology Group Ltd. (NASDAQ: MRVL) was downgraded to Neutral from Buy and the price target was cut to $13.00 from $18.00 (versus a $14.31 close) Ladenburg Thalmann.
Newmont Mining Co. (NYSE: NEM) was raised to Outperform from Neutral and the price target was raised to $30 from $26 (versus a $24.98 close) at Credit Suisse.
NRG Yield Inc. (NYSE: NYLD) was started as Hold with a $55 price target (versus a $51.36 close) at Evercore ISI.
Oclaro Inc. (NASDAQ: OCLR) was raised to Buy from Hold with a 43 price target (versus a $1.87 close) at Needham.
Oceaneering International Inc. (NYSE: OII) was downgraded to Neutral from Buy and its price target was cut to $58 from $62 at Goldman Sachs.
Procter & Gamble Co. (NYSE: PG) was downgraded to Underperform from Outperform at CLSA.