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Top Analyst Upgrades and Downgrades: Chesapeake, Rite Aid, Harley-Davidson, Toll Brothers, Transocean and More

Stocks were trying to stage a second day rally on Thursday, with the shenanigans in Greece again being the hope. The reasons vary as to why and what the catalyst is, but investors have lined up and bought every stock market pullback for nearly four years now. 24/7 Wall St. reviews dozens of research reports each morning of the week. The goal is to find new trading and investing ideas for its readers. Some of these 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.

Chesapeake Energy Corp. (NYSE: CHK) was downgraded to Perform from Outperform at Oppenheimer. That means that the firm now has no target to speak of, and the $13.06 closing price compares to a consensus price target of $15.67 and a 52-week range of $12.89 to $29.92. The downgrade was based on growing losses and a cash flow deficit.

Rite Aid Corp. (NYSE: RAD) was started as Outperform with a $10 price target (versus a $8.64 close) at Credit Suisse. The firm believes Rite Aid is one of the more compelling risk-reward profiles in the space and that it has a compelling M&A potential.

Toll Brothers Inc. (NYSE: TOL) was raised to Outperform from Neutral and the target price was raised to $42 from $40 (versus a $36.81 close) at Credit Suisse. The firm believes that investors underappreciate its earnings potential, and the firm raised estimates to reflect the updated City Living pipeline.

Transocean Ltd. (NYSE: RIG) was started as Underweight with a price target of $14 (versus a $19.08 close) at Barclays. Transocean’s consensus price target is $14.17, and the 52-week range is $13.28 to $46.12.

Harley-Davidson Inc. (NYSE: HOG) was downgraded to Neutral from Outperform with a price target cut to $57.00 from $74.00 (versus a $54.69 close) at Wedbush. Harley-Davidson has a consensus price target of $66.00 and a 52-week range of $53.04 to $72.37.

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Other key analyst upgrades, downgrades and initiations this Thursday were in shares of the following: