Top Analyst Upgrades and Downgrades: Gap, HP, Salesforce, Symantec, Disney and Many More

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Stocks were indicated lower once more, due yet again to overseas weakness (Shanghai down over 4%) and weak commodities. The bull market is looking tired after running more than six years now. The one trend that has been in place is that investors have bought up every dip and looked for value. That trend is not holding at the current time, but many investors are still trying to decide where they can hide safely in the markets.

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 Friday’s top analyst upgrades, downgrades and initiations.

Gap Inc. (NYSE: GPS) was maintained as Neutral but its price target was cut to $35 from $38 at Mizuho Securities. Credit Suisse maintained its Underperform rating. FBR Capital Markets maintained a Market Perform rating but lowered its price target to $35 from $36.

Hewlett-Packard Co. (NYSE: HPQ) was indicated down less than 1% at $27.20 after earnings. HP was maintained as Neutral but its price target was cut to $30 from $38 at Mizuho Securities. Sanford Bernstein was cautious. UBS has a Buy rating, but it cut the price target to $36 from $40.

Salesforce.com Inc. (NYSE: CRM) shares were indicated up about 3% at $70.00 or so after earnings. Salesforce was raised to Buy and the price target was raised to $82 from $79 at Pivotal Research. Canaccord Genuity reiterated its Buy rating and said it is the favorite large-cap growth stock.

Symantec Corp. (NASDAQ: SYMC) was raised to Equal Weight from Underweight with a $24 price target (versus a $21.35 close) at Morgan Stanley. Symantec closed at $21.35, and it has a consensus target price of $24.14 and a 52-week trading range of $20.33 to $27.32.

Walt Disney Co. (NYSE: DIS) was maintained as Market Perform at Cowen, but the price target was cut to $89 from $98 in the call. This is effectively the third big downgrade this week, even if the formal rating remains the same — Disney’s consensus price target is still about $120.

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Other top analyst upgrades, downgrades and initiations from this Friday were seen as follows: