Top Analyst Upgrades and Downgrades: Enphase, Harley-Davidson, Salesforce, Tesla, WWE and More

July 8, 2015 by Jon C. Ogg

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.

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Other key analyst upgrades and downgrades this Wednesday were in shares of the following:

Albemarle Corp. (NYSE: ALB) was started as Buy with a price target of $72 (versus a $54.25 close) at BB&T Capital Markets.

Artisan Partners Asset Management Inc. (NYSE: APAM) was raised to Neutral from Underperform at Bank of America Merrill Lynch.

Brunswick Corp. (NYSE: BC) was raised to Outperform from Sector Perform at RBC Capital Markets.

Cameron International Corp. (NYSE: CAM) was started as Neutral at Macquarie.

CarMax Inc. (NYSE: KMX) was raised to Buy from Neutral at Goldman Sachs.

Centene Corp. (NYSE: CNC) was raised to Outperform from Market Perform at Wells Fargo.

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Dick’s Sporting Goods Inc. (NYSE: DKS) was raised to Outperform from In-Line at Imperial Capital.

EMC Corp. (NYSE: EMC) was downgraded to Market Perform from Outperform at FBR Capital Markets.

Exelon Corp. (NYSE: EXC) was raised to Neutral from Underperform at Merrill Lynch.

New York Community Bancorp Inc. (NYSE: NYCB) was downgraded to Underperform at Keefe Bruyette & Woods after big outperformance this year. The firm assigned a $15.50 price target (versus a $18.27 close).

Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

St. Jude Medical Inc. (NYSE: STJ) was raised to Outperform from Market Perform at Wells Fargo.

Tandem Diabetes Care Inc. (NASDAQ: TNDM) was started as Outperform with a $15 price target (versus a $10.41 close) at R.W. Baird.

Tetra Tech Inc. (NASDAQ: TTEK) was raised to Outperform from Neutral at Wedbush Securities.

Validus Holdings Ltd. (NYSE: VR) was raised to Neutral from Sell at Goldman Sachs.

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VMware Inc. (NYSE: VMW) was downgraded to Market Perform from Outperform at FBR Capital Markets.

W.R. Berkley Corp. (NYSE: WRB) was raised to Buy from Neutral at Goldman Sachs.

In case you missed Tuesday’s analyst upgrades and downgrades, they included Electronic Arts, Fitbit, Shake Shack, Tesla Motors, Teva Pharmaceutical Industries, Wingstop and over a dozen more companies. Also, Monday’s top analyst upgrades and downgrades were in Epizyme, Goldcorp, GoPro, Intuitive Surgical, VMware and over a dozen more companies.