Top Analyst Upgrades and Downgrades: Ambarella, Cisco, Frontier, Marvell, Yingli, AT&T and More

Stocks were indicated higher on Wednesday, again on hopes that the silly Greek leadership will finally reach a debt deal. The trend for almost four years now is that investors find myriad reasons to line up and buy their favorite stocks on every pullback. 24/7 Wall St. reviews dozens of research reports each day to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, while other calls cover stocks to sell or to avoid.

These are Wednesday’s top analyst upgrades, downgrades and initiations.

Ambarella Inc. (NASDAQ: AMBA) was reiterated as Buy and the price target was raised to $105 from $75 at Topeka Capital Markets. Needham raised its rating to Hold from Underperform. Shares are up over 4% at $96.00 or so, but the earnings beat may have run into new share buyer exhaustion.

AT&T Inc. (NYSE: T) was added to the Franchise Picks List at Jefferies, with a very positive view on the company’s growth and dividends after the DirecTV merger.

Cisco Systems Inc. (NASDAQ: CSCO) was raised to Outperform from Market Perform at RBC Capital Markets. Nomura started Cisco with a Neutral rating and a $32 price target. Cisco was also one of our 10 stocks to own for the next decade.

Frontier Communications Corp. (NASDAQ: FTR) was raised to Buy from Neutral and it was given a $6.50 price target (versus a $5.16 close) at DA Davidson. Frontier’s consensus analyst price target is $7.23 and its 52-week range is $4.90 to $8.46.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was started as Market Perform at Northland Securities with a $15.00 price target (versus a $14.01 close). Marvell was recently featured as one of five potential remaining semiconductor M&A companies. The consensus price target is $14.98, and its 52-week range is $11.65 to $16.78.

ALSO READ: 10 Companies to Own for the Next Decade

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) has been dropped from coverage at Bank of America Merrill Lynch. The firm said this reflects a reassessment of its coverage universe, and investors should no longer rely on prior ratings, price objectives, estimates or opinions on Yingli as the balance sheet remains a major concern with losses and book value deterioration expected to continue. The firm’s final investment opinion was Underperform with a price objective of $1.60.

Additional analyst upgrades, downgrades and initiations from this Wednesday were seen as follows:

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