Top Analyst Upgrades and Downgrades: Celgene, Ciena, Goldman Sachs, MannKind, Newfield, Tetraphase, Walgreens, Yingli and Many More

Stocks were indicated higher on Wednesday after Tuesday’s substantial rally. Yet again, investors have bought the dips, even if this dip was over 10% from peak to trough. 24/7 Wall St. reviews dozens of analyst research reports each day to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while other calls cover stocks to sell or avoid.

These are this Wednesday’s top analyst upgrades, downgrades and initiations.

Celgene Corp. (NASDAQ: CELG) was started as Buy with a $140.00 price target (versus a $117.39 prior close) at Jefferies. Celgene rose almost 5% on Tuesday and was indicated up 1.2% at $124.50 on Wednesday. It has a consensus price target of almost $150.00 and a 52-week trading range of $83.16 to $140.72.

Ciena Corp. (NASDAQ: CIEN) was raised to Outperform from Market Perform at RBC Capital Markets. Ciena’s price target is $28.00, versus a $22.94 close and a consensus price target of $27.85. The 52-week range is $13.77 to $26.50.

Goldman Sachs Group Inc. (NYSE: GS) was raised to Buy from Neutral at Bank of America Merrill Lynch. Goldman Sachs closed up 3% at $185.88, was indicated up another 2% to $189.60 in early Wednesday trading and it has a 52-week range of $171.26 to $218.77.

MannKind Corp. (NASDAQ: MNKD) was downgraded to Underweight from Neutral and the price target was slashed to $1.50 from $4.00 at Piper Jaffray. MannKind closed at $4.07 on Tuesday, and shares were indicated lower by 7% at $3.77 on Wednesday. The consensus price target close to $6.50 before the call, and the 52-week trading range is $3.25 to $7.88. This is after last week’s share sale agreement.

Newfield Exploration Co. (NYSE: NFX) was started as Outperform with a $45.00 price target (versus a $34.14 close) at Credit Suisse. Newfield has a consensus price target of $43.04 and has a 52-week range of $22.31 to $40.27.

Tetraphase Pharmaceuticals Inc. (NASDAQ: TTPH) was downgraded to Neutral from Outperform at Wedbush Securities. It also was downgraded to Hold from Buy at Stifel Nicolaus, Needham and Canaccord Genuity. Tetraphase announced that eravacycline did not meet its primary endpoint in pivotal portion of a trial, and shares are indicated down almost 80% and close to $9.00, after a $44.78 close and with a prior 52-week range of $15.68 to $52.90.

UnitedHealth Group Inc. (NYSE: UNH) was started as Overweight with a $140.00 price target (versus a $116.09 close) at Morgan Stanley. The consensus analyst price target is $147.32, and the 52-week range is $80.72 to $126.21.

ALSO READ: 4 Top Jefferies Growth Stock Picks to Buy Now

Walgreens Boots Alliance Inc. (NASDAQ: WBA) was raised to Outperform from Market Perform and the price target was raised to $104.00 from $90.00 (versus $90.09 close) at Cowen.

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) was downgraded to Sell from Neutral with a $0.50 price target (versus a $0.58 close) at Roth Capital. Yingli has a 52-week range of $0.55 to $3.89, and that 52-week low was just hit on Tuesday.

Additional analyst upgrades, downgrades and initiations this Wednesday were seen as follows:

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