Stocks were indicated to open slightly lower on Monday on a day with limited news outside of weak growth reported in Japan. While the market has pulled back from its highs, the trend that has prevailed for almost four years now is that investors have bought 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 of the analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
On Friday we saw the ultimate analyst, Warren Buffett, release his latest equity holdings.
These are this Monday’s top analyst upgrades, downgrades and initiations.
Blue Buffalo Pet Products Inc. (NASDAQ: BUFF) has seen its quiet period end, after closing at $26.79. Blue Buffalo was started as Market Perform at Wells Fargo. JPMorgan started it as Overweight rating and a $32 price target. Deutsche Bank started it as Buy with a $31 price target.
Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Equal Weight from Overweight with a price target of $30.00 (versus a $29.03 close) at Morgan Stanley. Cisco has a consensus price target of $31.34 and a 52-week range of $22.49 to $30.31.
J.C. Penney Co. Inc. (NYSE: JCP) was started as Buy with a $12.50 price target (versus an $8.52 close) at B. Riley. It has a consensus target of only $8.89 and a 52-week range of $5.90 to $11.30.
JPMorgan Chase & Co. (NYSE: JPM) was raised to Outperform from Market Perform with a $77 price target (versus a $68 close) at Keefe Bruyette & Woods. The consensus target for JPMorgan is almost $75 and the 52-week range is $54.26 to $70.61.
Micron Technology Inc. (NYSE: MU) was raised to Market Perform from Underperform at Wells Fargo. Micron was also maintained as Buy at Topeka Capital Markets, although its price target was cut to $27 from $28 in the call. Wedbush downgraded Micron to Neutral from Outperform with a $19 price target. Micron has a consensus target price of about $28.50 and a 52-week range of $16.82 to $36.59.
Tesla Motors Inc. (NASDAQ: TSLA) was reiterated as Overweight and named as a Top Pick at Morgan Stanley. The firm also substantially raised its price target to $465 from $280. Tesla’s consensus target is $293.07 and its 52-week range is $181.40 to $291.42.
Other top analyst upgrades, downgrades and initiations from this Monday were as follows: