Stocks were marginally higher on Wednesday morning, but the S&P 500 and DJIA are effectively at all-time highs. As investors keep proving over and over that they want to buy stocks on weakness, 24/7 Wall St. review dozens of analyst calls each morning to find new ideas for traders and investors. Some of the analyst calls cover stocks to buy, while some analyst calls cover stocks to sell or stocks to avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Achillion Pharmaceuticals Inc. (NASDAQ: ACHN) was downgraded to Market Perform from Outperform at JMP Securities. UBS downgraded Achillion to Neutral from Buy. Shares were down over 7% at $9.85 after Johnson & Johnson signed a $1.1 billion license and collaboration for its hep-C drug.
Computer Sciences Corp. (NYSE: CSC) was raised to Equal Weight from Underweight at Morgan Stanley. JPMorgan raised its rating to Neutral from Underweight. Janney maintained a Neutral rating with a $60 fair value target. This is on the heels of CSC breaking itself up into two outfits and paying a special $10.50 dividend. CSC closed at $67.66, and shares were indicated up 5% at $71.50 in the premarket trading on Wednesday.
Keurig Green Mountain Inc. (NASDAQ: GMCR) was downgraded to Hold from Buy at Argus, with the call being based on a weaker near-term outlook. Earnings estimates were trimmed by 10% or so for this year and next, and pressure has been seen on many fronts. Still, the long-term rating from Argus remains a Buy.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) was raised to Buy from Hold at Canaccord Genuity and raised to Buy from Neutral at SunTrust Robinson Humphrey. Shares have surged by more than 40% to $24.00 or so in premarket trading, after positive news of a drug submission at the FDA on its muscular dystrophy drug.
Splunk Inc. (NASDAQ: SPLK) was raised to Outperform from Neutral with a $97 price target (versus a $67.95 close) at Macquarie. The news is after the company hired GE’s CIO as its own chief technology officer. Shares were indicated up almost 2% at $68.90, and the consensus price target is $79.70.
With stocks hitting all-time highs, even with some worries about the coming rate-hike cycle, here are 10 reasons the Fed cannot panic when it comes to raising interest rates.
There are roughly an additional 20 analyst upgrades, downgrades and initiations seen this Wednesday: