Top Analyst Upgrades and Downgrades: Annaly, Gap, Google, Johnson Controls, Symantec, Williams, Yelp and Many More

Stocks were lower yet again on Wednesday due to China’s devaluation, just like Tuesday. So far the selling pressure has been high over the past two weeks, but the trend that had been in place for over three and a half years was that investors would buy every dip. Will this time finally be different?

24/7 Wall St. reviews dozens of analyst reports each morning to find new trading and investing ideas for its readers. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations.

Annaly Capital Management Inc. (NYSE: NLY) was raised to Buy from Neutral at Nomura. This is after last week’s news of a $1 billion share buyback plan. The stock has a consensus analyst target price of $10.42, versus a $10.16 current price, and its 52-week trading range is $9.17 to $11.95.

Gap Inc. (NYSE: GPS) was maintained as Neutral at Nomura and Baird. FBR Capital Markets maintained its Market Perform rating but lowered its price target to $36 from $40.

Google Inc. (NASDAQ: GOOGL) was reiterated as Buy at Argus. The firm likes the Alphabet plan, just like other analysts have. Argus has a target price of $850 on the stock. Google shares closed up 4% at $690.30 on Tuesday, and it has a consensus price target north of $755 and a 52-week range of $490.91 to $713.33.

Johnson Controls Inc. (NYSE: JCI) was raised to Buy from Neutral at Goldman Sachs. Shares closed at $45.62, the consensus analyst price target is $55.40 and the 52-week range is $38.60 to $54.52.

Symantec Corp. (NASDAQ: SYMC) was maintained as Sector Perform at RBC Capital Markets, but the price target was cut to $22 from $24 in the call. A late-afternoon call was also made by Citi on Tuesday, and the firm downgraded Symantec to Neutral from Buy after the Veritas sale was announced.

Williams Companies Inc. (NYSE: WMB) was reiterated as Buy at Argus with a $63 price target (versus a $49.98 close). The call is based on its strategic alternatives and buyout candidate status, despite having rejected the ETE buyout offer. Williams has a consensus price target of about $59.50 and a 52-week range of $40.07 to $61.38.

Yelp Inc. (NYSE: YELP) was reiterated as Outperform with a $44 price target (versus a $25.35 close) at Credit Suisse. The firm sees Yelp as a property that is undermonetized, and the firm likes Yelp’s long-term investment thesis after management meetings. Yelp has a consensus target price of $34.52 and a 52-week range of $23.66 to $86.88.

ALSO READ: 5 Oversold BioPharma Stocks That Look Like Bargains

Other key analyst upgrades, downgrades and initiations this Wednesday were seen in the following:

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