Stocks were indicated up sharply on Thursday morning as China banned large stakeholders and insiders from selling shares in an effort to stop the sell-off. Yet again, the trend that has prevailed for almost four years is that investors have bought every sell-off. 24/7 Wall St. reviews dozens of analyst and brokerage reports each morning of the week to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, and some cover stocks to sell or avoid.
These are this Thursday’s top analyst upgrades, downgrades and initiations.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy with a $145 price objective (versus a $122.57 close) at Bank of America Merrill Lynch. The firm said that it views the reported 85 million to 90 million iPhones being ordered for the end of 2015 as bullish. The firm also believes that worries over a China deceleration are overblown as increased distribution alone can offset potential demand weakness.
Envestnet Inc. (NYSE: ENV) was started as Outperform at Northland Securities with a $50 price target (versus a $41.77 close). Envestnet has a consensus price target of $55.60 and a 52-week range of $37.76 to $58.21.
Pandora Media Inc. (NYSE: P) was started as Outperform at Northland Securities with a $20 price target (versus a $14.68 close). Pandora has a consensus price target of $22.04 and the 52-week range is $14.50 to $28.96.
Spectra Energy Corp. (NYSE: SE) was reiterated as Buy with a price target of $40 (versus a $31.04 close) at Argus. The call was based on Spectra’s fee-based businesses, financial strength and ability to expand its asset footprint.
Travelers Cos. (NYSE: TRV) was raised to Buy from Neutral at Merrill Lynch, but the price objective was dropped from $112 to $110 (versus a $98.76 close). Travelers has a consensus price target of $108.39 and a 52-week range of $88.81 to $110.49.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was downgraded to Sell from an already cautious Neutral rating at UBS. Regeneron closed at $509.30, has a consensus target of $511.71 and a 52-week range of $295.76 to $544.00.
Other key analyst upgrades and downgrades seen from this Thursday were as follows:
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