Stocks simply were looking for direction on Monday after gains on Friday. The Dow is still down 10% from highs and investors keep proving that they are willing to buy pullbacks. 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, while others cover stocks to sell or avoid.
These are this Monday’s top analyst upgrades, downgrades and initiations.
AeroVironment Inc. (NASDAQ: AVAV) was raised to Overweight from Neutral with a $28.00 price target (versus a $20.44 prior close) at Piper Jaffray. AeroVironment has a consensus analyst price target of $29.00 and a 52-week trading range of $20.13 to $31.94.
Gold Fields Inc. (NYSE: GFI) was downgraded to Underweight from Neutral at JPMorgan. The stock closed at $2.75 and has a consensus analyst price target of around $4.00 and a 52-week trading range of $2.35 to $6.01.
Marvell Technology Group Ltd. (NASDAQ: MRVL) was downgraded to Equal Weight from Overweight with a lower price target of $9.50 (versus an $8.84 close, after a 16% price drop) at Morgan Stanley. The firm B. Riley also downgraded Marvell to Neutral from Buy with a $10.00 price target. This is after several other downgrades were issued by firms after the company’s disclosure of investigations into accounting irregularities.
Nokia Corp. (NYSE: NOK) was already rated as Buy at Goldman Sachs, but the firm added Nokia to its prized Conviction Buy List. Nokia closed at $6.51 and was indicated up around $6.53 after the call. The Finnish tech giant has a 52-week range of $5.71 to $8.73 and a consensus price target of $8.97.
Silver Wheaton Corp. (NYSE: SLW) was downgraded to Market Perform from Outperform at BMO Capital Markets. Silver Wheaton closed at $11.62, has a consensus price target of $21.71 and has a 52-week range of $11.03 to $24.22. Its 52-week low was just hit last Friday.
Other key analyst upgrades, downgrades and initiations on Monday were seen as follows:
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) was downgraded to Equal Weight from Overweight with a $205.00 price target (versus a $171.93 close) at Barclays.
AstraZenec PLC (NYSE: AZN) was raised to Buy from Hold at Deutsche Bank.
BHP Billiton PLC (NYSE: BHP) was raised to Buy from Hold at Jefferies.