Stocks were indicated marginally higher on Friday morning, a day after the Nasdaq finally took out its all-time highs from March of 2000. One constant over the past three and a half years has been that investors buy every single pullback. 24/7 Wall St. reviews dozens of analyst and brokerage research reports each morning of the week to find value and upside, or new trading and investing ideas, for our readers. Some analyst calls cover stocks to buy, and others are about stocks to sell or avoid.
These are this Friday’s top analyst upgrades, downgrades and initiations.
BioMarin Pharmaceuticals Inc. (NASDAQ: BMRN) was downgraded to Neutral from Outperform at Baird, but the firm raised its target price to $133 from $125 (versus a $138.66 close). This was after a 12% move higher the prior day based on its dwarfism drug.
BP PLC (NYSE: BP) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
Micron Technology Inc. (NASDAQ: MU) was raised to Buy from Hold and the price target was raised to $34 from $30 (versus a $24.47 close) at Topeka Capital Markets. Micron’s consensus price target is $37.30, and its 52-week trading range is $23.70 to $36.59.
Vonage Holdings Corp. (NYSE: VG) was started as Outperform and was assigned a $6.00 price target (versus a $4.81 close) at Oppenheimer. The consensus price target is $6.12, and Vonage has a 52-week range of $3.10 to $5.20.
Finisar Corp. (NASDAQ: FNSR) was downgraded to Outperform from Strong Buy and the price target was cut to $24 from $27 (versus a $22.15 close) at Raymond James. Shares were indicated lower after earnings. Finisar’s consensus price target was $24.41, and it has a 52-week range of $14.22 to $23.38.
Additional top analyst upgrades and downgrades were in shares of the following companies this Friday: