Top Analyst Upgrades and Downgrades: EMC, Herbalife, Micron, Petrobras, SanDisk and More
Stocks were lower again on Monday, with the Greek debacle taking the blame again. If there has been one trend that has held firm, it is that investors have lined up to buy stocks on every pullback for well over three years now. 24/7 Wall St. reviews dozens of research reports each morning of the week to find value and upside with new trading and investing ideas for our readers. Some of these analyst calls cover stocks to buy, while others are about stocks to sell or avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations.
EMC Corp. (NYSE: EMC) was downgraded to Market Perform from Outperform with a $28.00 price target (versus a $27.07 close) at FBR Capital Markets. The consensus price target for EMC is $30.39 and the 52-week trading range is $25.07 to $30.92.
Herbalife Ltd. (NYSE: HLF) was dropped from coverage at Argus. The firm previously only had a Hold rating, because Herbalife shares do not trade on fundamentals as its stage of Bill Ackman fights and government investigations carry on. Argus did say that after the company raised guidance that Herbalife shares appear attractively valued, but the low multiples reflect the uncertainty around legal issues.
Micron Technology Inc. (NASDAQ: MU) was downgraded to Underweight from Equal Weight with a price target of $21.00 (versus a $25.13 close) at Morgan Stanley. Its consensus price target was north of $37 prior to the impact of this call.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, was raised to Overweight from Neutral with a $10.50 price target (versus a $9.10 close) at JPMorgan.
SanDisk Corp. (NASDAQ: SNDK) was downgraded to Equal Weight from Overweight at Morgan Stanley. The firm cut to the price target to $75 from $80 in the call, versus a $66.10 close and a $69.32 consensus analyst price target.
These are additional analyst upgrades, downgrades and initiations seen on Monday morning: