Top Analyst Upgrades and Downgrades: AOL, Cisco, Etsy, GoDaddy, MannKind, Virtu, Caterpillar, Nokia and More
Stocks were up very slightly Monday morning, on the heels of a rate cut in China and after a strong week before. While stocks are close top all-time highs, the one trend that has been seen time and again is that investors buy stocks on every single pullback, for almost four years now. 24/7 Wall St. reviews dozens of analyst research reports each day to find new trading and investment ideas for its readers. Some analyst calls cover stocks to buy, but other reports cover stocks to sell or avoid.
These are Monday’s top analyst upgrades, downgrades and initiations.
AOL Inc. (NYSE: AOL) was reiterated as Buy at Needham. CLSA downgraded AOL to Sell from an already cautious Underperform rating. Credit Suisse maintained its Neutral rating but raised its target price to $52 from $47. AOL closed at $43.43 a share and has a consensus price target of $47.50.
Cisco Systems Inc. (NASDAQ: CSCO) was raised to Overweight from Sector Perform at Pacific Crest. Cisco closed at $29.23 and has a consensus price target of $30.10.
Etsy Inc. (NASDAQ: ETSY) was downgraded to Underperform from Neutral with a $14 price target at Wedbush Securities. Goldman Sachs started coverage with a Neutral rating. After closing at $22.71, Etsy is now down handily from its post-IPO high of $35.74. And shares were indicated down close to 8% at $20.90 early on Monday.
GoDaddy Inc. (NYSE: GDDY) has seen its quiet period come to an end. Most of the firms have started the Web hosting and site services provider positively: as Overweight at Barclays, as Buy at Citigroup, as Overweight at JPMorgan and as Outperform at Oppenheimer. It closed at $24.88 and has a post-IPO range of $20.00 to $27.27.
MannKind Corp. (NASDAQ: MNKD) was downgraded to Underweight from Neutral at JPMorgan. MLV also has reportedly downgraded MannKind’s price target to $4 from $7. After closing at $3.81, MannKind has a 52-week range of $3.52 to $11.48, and its consensus price target was closer to $7 before these calls. Shares were indicated down over 3% at $3.68 in premarket trading on Monday.
Virtu Financial Inc. (NASDAQ: VIRT) saw its quiet period end and analysts have so far been more reserved on the high-frequency trader and market maker. It was started as Neutral at JPMorgan, as Neutral at Goldman Sachs and as Market Perform at BMO Capital Markets. UBS started it as Buy, and Virtu was started as Buy at Evercore ISI as well. Virtu closed at $22.30 and has a post-IPO trading range of $20.75 to $24.25.
Other key analyst upgrades, downgrades and initiations were seen in the following stocks: