Stocks were down sharply Wednesday morning, but more on a massive sell-off in China rather than the child’s game playing out in Greece. One trend that has been seen over and over for almost four years is that investors have bought the sell-offs. 24/7 Wall St. reviews dozens of analyst and brokerage reports each day to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, but others are about stocks to sell or avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Enphase Energy Inc. (NASDAQ: ENPH) was downgraded to Neutral from Overweight and the price target was slashed to $10 from $16 (versus a $7.57 close) at JPMorgan. Keep in mind that this downgrade was after Enphase hit a 52-week low on Tuesday.
Harley-Davidson Inc. (NYSE: HOG) was downgraded to Sector Perform from Outperform and the price target was cut to $59 from $66 (versus a $56.66 close) at RBC Capital Markets. Harley-Davidson has a consensus price target of $65.15, and the 52-week trading range is $53.04 to $70.41.
Salesforce.com Inc. (NYSE: CRM) was started as Outperform with a $85 price target (versus a $70.26 close) at Northland Securities. Salesforce.com has a consensus price target of $80.41 and a 52-week range of $51.04 to $78.46.
Tesla Motors Inc. (NASDAQ: TSLA) was downgraded to Sector Weight from Overweight Pacific Crest. This downgrade is on the heels of a 4.2% drop to $267.88 on Tuesday after Deutsche Bank downgraded Tesla to Hold from Buy. Tesla’s 52-week range is $181.40 to $291.42.
World Wrestling Entertainment Inc. (NYSE: WWE) was started as Outperform with a $22 to $24 price target range (versus a $15.57 close) at Wells Fargo. WWE has a consensus target of only $17.68, and its 52-week range is $9.82 to $17.91.
Other key analyst upgrades and downgrades this Wednesday were in shares of the following:
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