Stocks were indicated lower on Wednesday. The one trend that is nearly four years old now is that investors have bought every stock market sell-off. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, and others cover stocks to sell or avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Analog Devices Inc. (NYSE: ADI) shares were indicated up 7% at $62.00 or so after earnings. It was raised to Buy with a $71 price target at SunTrust Robinson Humphrey. Analog Devices was also reiterated as Outperform with a $72 price target at Credit Suisse. Wells Fargo maintained its Market Perform rating with a $55 to $65 valuation range.
Canadian Solar Inc. (NASDAQ: CSIQ) was down 10% after earnings around $22.00. Canaccord Genuity maintained its Buy rating but lowered its price target to $40 from $45 in the call. Roth Capital maintained its Buy rating and lowered its target to $40 from $46.
Home Depot Inc. (NYSE: HD) was reiterated as Buy and the price target was raised to $136 from $130 at Argus. Credit Suisse reiterated its Outperform rating and raised the price target to $135 from $120. Home Depot shares were up 2.6% at $122.80, as of Tuesday’s close, after it beat earnings.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was raised to Buy from Neutral with a $15 price target at Ladenburg Thalmann. The stock closed most recently at $12.16, has a consensus analyst price target of $14.77 and has a 52-week range of $11.65 to $16.78.
Wal-Mart Stores Inc. (NYSE: WMT) was maintained as Outperform at Credit Suisse with an $85 price target. The firm sees only 6% downside from here due to the 3% yield. Telsey Advisory Group cut its price target to $75 from $83 and maintained a Market Perform rating. Wells Fargo maintained its Market Perform rating and lowered its valuation range to $70.00 to $75.00 from $77.00 to $82.00.
Other top analyst upgrades, downgrades and initiations from this Wednesday were seen as follows:
Aflac Inc. (NYSE: AFL) was downgraded to Underperform from Neutral with a $66 price objective (down from $68) at Bank of America Merrill Lynch.