Stocks have ticked higher on Thursday morning, but they were mixed and directionless earlier in the morning futures trading. Yet again, in a trend that is now about four years old, investors have bought every stock market dip. 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 others cover stocks to sell or to avoid.
These are this Thursday’s top analyst upgrades, downgrades and initiations.
EMC Corp. (NYSE: EMC) was reiterated as Buy and the price target was raised to $34 from $30 at Credit Suisse. This is on the heels of market chatter about a reach-up deal from VMware, but Credit Suisse sees ongoing board discussion, investor activism and management succession all play in as well. Merrill Lynch also reiterated its Buy rating and $32 price objective.
FitBit Inc. (NYSE: FIT) was downgraded to Neutral from Buy at Dougherty. Also, R.W. Baird maintained its Outperform rating but raised its target to $54 from $52, and Barclays maintained its Equal Weight rating but raised its target to $49 from $45.
Keurig Green Mountain Inc. (NASDAQ: GMCR) was hammered after poor revenues and guidance, as well as layoffs. Canaccord Genuity cut its rating to Hold from Buy and its price target was slashed to $65 from $120. UBS has a Neutral rating but cut its target to $59 from $86. Morgan Stanley downgraded it to Equal Weight from Overweight and the price target was cut to $60 from $110 in the call.
Stratasys Ltd. (NASDAQ: SSYS) was raised to Buy from Neutral at Citigroup. While no price target was readily available, this is on the heels of a couple other valuation upgrades after the stock had sold off so much after earnings.
Tesla Motors Inc. (NASDAQ: TSLA) was reiterated as Outperform with a $325 price target at Credit Suisse. Bank of America Merrill Lynch maintained its Underperform rating and $180 price objective, although it is the most pessimistic of all firms.
Wendy’s Co. (NASDAQ: WEN) was raised to Overweight from Neutral with a $12 price target (versus a $10.11 close) at JPMorgan. Wendy’s has an $11.95 consensus target price and a 52-week range of $7.61 to $11.71.
Other key analyst upgrades, downgrades and initiations this Tuesday were seen in the following: