These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Ambarella Inc. (NASDAQ: AMBA) was maintained as Outperform and the price target was raised to $96.00 from $78.00 (versus a $87.20 close) at Pacific Crest. This call is based on two issues: solid GoPro orders and also the possibility that Qualcomm might be interested in buying the company. Shares were up over 4% at $87.20 on Tuesday, and the consensus price target is near $73.50.
eBay Inc. (NASDAQ: EBAY) was started as Buy with a price target of $68 (versus a $58.73 close) at Topeka Capital Markets.
Rite Aid Inc. (NYSE: RAD) was started with a Buy rating and a $10 price target (versus a $8.63 close) at Mizuho. Rite Aid shares have traded in a 52-week range of $4.42 to $9.07 and have a consensus analyst price target that has now grown to $10.00 as well.
TiVo Inc. (NASDAQ: TIVO) was indicated higher after beating earnings and making an international acquisition. Janney Capital Markets raised its 2016 earnings estimates slightly, but it maintained its Neutral rating and $16 fair value target. TiVo closed at $10.36, has a 52-week range of $10.27 to $14.29 and has a consensus price target of $15.59.
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Other key analyst upgrades, downgrades and initiations were seen in the following companies this Wednesday:
AbbVie Inc. (NYSE: ABBV) was started as Overweight with a $75 price target (versus a $66.10 close) at JPMorgan.
Aldeyra Therapeutics Inc. (NASDAQ: ALDX) was started as Buy with a fair value estimate of $13.00 (versus a $6.87 close) at Janney Capital Markets.
Amedisys Inc. (NASDAQ: AMED) was raised to Buy from Neutral with a price target of $36 (up from $31 and versus a $29.13 close) at SunTrust Robinson Humphrey.
Black Stone Minerals L.P. (NYSE: BSM) was reinstated as Neutral with a $20 price target (versus a $17.78 close) at Credit Suisse.
Coca-Cola Enterprises Inc. (NYSE: CCE) was raised to Buy from Hold at HSBC.
Computer Sciences Corp. (NYSE: CSC) was raised to Outperform from Market Perform at Wells Fargo.
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Frontier Communications Corp. (NASDAQ: FTR) was raised to Overweight from Underweight with a price target of $6.00 (versus a $4.92 close) at Morgan Stanley.
General Finance Corp. (NYSE: GFN) was started as Outperform with a price target of $8.00 (versus a $5.90 close) at Oppenheimer.
HollyFrontier Corp. (NYSE: HFC) was raised to Outperform from Perform at Oppenheimer.
Hortonworks Inc. (NASDAQ: HDP) was started as Outperform with a price target of $30.00 (versus a $25.92 close) at Oppenheimer.
Jarden Corp. (NYSE: JAH) was started as Buy with a $64 price target (versus a $53.16 close) at UBS.
Magna International Inc. (NYSE: MGA) was raised to Buy from Hold with a $75 price target (versus a $57.02 close) at Deutsche Bank.
Marathon Petroleum Corp. (NYSE: MPC) was raised to Outperform from Perform at Oppenheimer.
Phillips 66 (NYSE: PSX) was raised to Outperform from Perform at Oppenheimer.
PNM Resources Inc. (NYSE: PNM) was raised to Buy from Hold and the price target was raised to $30.50 from $29.00 (versus a $26.49 close) at Jefferies.
Reynolds American Inc. (NYSE: RAI) was raised to Outperform from Neutral and with a price target of $86.00 (versus a $75.43 close) at Cowen.
Tesoro Corp. (NYSE: TSO) was raised to Outperform from Perform at Oppenheimer.
T-Mobile US Inc. (NYSE: TMUS) was downgraded to Neutral from Outperform with a $38.00 price target (versus a $38.55 close) at Macquarie.
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Valero Energy Corp. (NYSE: VLO) was started as Outperform at Oppenheimer.
Vipshop Holdings Ltd. (NYSE: VIPS) was started as Buy at Stifel Nicolaus.
Virtu Financial Inc. (NASDAQ: VIRT) was started as Neutral at Citigroup.
Yahoo! Inc. (NASDAQ: YHOO) was downgraded to Hold from Buy and the price target was cut to $48.00 from $55.00 (versus a $42.85 close) at Evercore ISI. The call is based on a reevaluation of the Alibaba spin-off tax strategy.
In case you missed out on Tuesday’s top analyst upgrades and downgrades, they included Dollar General, eBay, Fresh Market, Marvell Technology, Party City, SAP and a dozen or so more companies.
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