Stocks were marginally lower on Thursday, but investors need to keep in mind that stocks are just barely off all-time highs in the Dow and S&P. Investors keep proving over and over that they will buy their favorite stocks on weakness. 24/7 Wall St. review dozens of analyst research reports each morning to find new ideas for traders and investors. Some of the analyst calls cover stocks to buy, while others cover stocks to sell or to avoid.
These are this Thursday’s top analyst upgrades, downgrades and initiations.
Alibaba Group Holding Ltd. (NYSE: BABA) was started as Outperform with a $120 price target (versus a $90.70 close) at Bernstein. This stock is now up about $13 from the pre-earnings lows when investors were nervous, and the consensus price target is closer to $108, versus a 52-week range of $77.77 to $120.00.
Mobileye N.V. (NYSE: MBLY) was reiterated as Buy and the price target was raised to $70 from $62 (versus a $46.10 close) at Citigroup. This is against a consensus price target of $58.00, and the firm sees an arms race taking place for advanced safety systems in cars, with Mobileye’s competitive advantage seeming to grow over competition.
NetApp Inc. (NASDAQ: NTAP) shares were indicated down over 10% after missing earnings due to weaker OEM sales. It was downgraded to Hold from Buy at Cantor Fitzgerald, and it was downgraded to Underweight from Neutral at JPMorgan. Maxim kept its Buy rating but cut its target to $44 from $48.
Nike Inc. (NYSE: NKE) was started as Buy and was given a $120 price target (versus a $104.61 close) at Jefferies.
Salesforce.com Inc. (NYSE: CRM) was raised to Buy from Hold and was given a $90 price target (versus a $70.16 close and $74.00 in early Thursday trading) at Argus. Credit Suisse reiterated its Outperform rating and went with a $90 price target. The shares were indicated up 4% at $72.95 after earnings.
Stratasys Ltd. (NASDAQ: SSYS) was raised to Outperform from Perform with a $50 price target (versus a $34.97 close) at Oppenheimer.
More than a dozen additional analyst upgrades, downgrades and initiations were seen this Thursday, as follows: