Stocks were indicated higher on Wednesday ahead of the pending FOMC decision on interest rates. Tuesday’s rally was yet another instance where investors proved that they want to buy stocks after every stock market sell-off. 24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some analyst reports cover stocks to buy, and other analyst calls cover stocks to sell or stocks to avoid.
These are this Wednesday’s top analyst upgrades, downgrades, and initiations.
Amazon.com Inc. (NASDAQ: AMZN) was raised to Buy from Hold and was given a $700 price target (versus $526.03 close) at Stifel Nicolaus. Amazon has a consensus price target of $644.43 and a 52-week range of $284.00 to $580.57. Amazon received numerous upgrades after handily beating earnings the prior week.
Citrix Systems, Inc. (NASDAQ: CTXS) appears to be buckling to activist investors. It was raised to Outperform from Neutral with a $80 price target (versus $69.63 close) at R. W. Baird. RBC maintained its Sector Perform rating but raised the target price to $75 from $67. Citrix has a consensus price target of $73.50 and a 52-week range of $56.47 to $73.12.
Gilead Sciences Inc. (NASDAQ: GILD) shares were trading up 35 at $116.75 or so in early Wednesday trading after beating earnings Tuesday evening. Gilead was reiterated as Outperform and the price target was raised to $130 from $120 at RBC Capital Markets. BofA Merrill Lynch reiterated an Underperform rating with a $107 price objective.
Sirius XM Radio Inc. (NASDAQ: SIRI) was raised to Buy from Hold with a 44.60 price target (versus $3.96 close) at Wunderlich Securities. Sirius XM has a consensus analyst target of $4.46 and a 52-week range of $3.14 to $4.04. It’s highest analyst target price is $5.25.
3D Systems Corp. (NYSE: DDD) was raised to Neutral from Underperform at Longbow Research. After a 414.72 close, 3D Systems has a consensus price target of $23.79 and a 52-week range of $14.06 to $56.45.
Twitter Inc. (NYSE: TWTR) had disappointing user growth and cautious growth comments, sending shares down 11% to $32.50 or so in early Wednesday trading – to what would be under the 52-week low of $33.51. Many firms cut their targets: Deutsche Bank, Jefferies, Morgan Stanley, Barclays, and RBC Capital Markets.
Yelp Inc. (NYSE: YELP) had very poor guidance and shares tanked. Bank of America Merrill Lynch downgraded Yelp to an Underperform from Neutral with a pidly $25 price target. JMP Securities downgraded Yelp to Market Perform from Market Outperform. Yelp shares were indicated down 21% at $26.30 or so on Wednesday, well under the prior 52-week low of $32.36.
Other key analyst upgrades, downgrades, and initiations from this Wednesday were seen in shares of the following companies: