Stocks bounced handily on Monday after tanking on Friday. There is still a serious ongoing debate as to why Janet Yellen and the Federal Open Market Committee (FOMC) decided to keep zero interest rates going, and Fed President Lacker justified his reason to hike rates over the weekend. The one trend that just lives on after about four years now is that investors routinely buy the pullbacks and dips. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some of these analyst calls are on stocks to buy, but others cover stocks to sell or to avoid. These are Monday’s top analyst upgrades, downgrades and initiations.
CyberArk Software Ltd. (NASDAQ: CYBR) was raised to Buy from Hold with a $65 price target (versus a $47.65 close) at Deutsche Bank, noting that the sell-off in the shares has been overdone. CyberArk has a post-IPO trading range of $22.12 to $76.35 and a consensus analyst price target of $64.64.
Goldman Sachs Group Inc. (NYSE: GS) was raised to Outperform from Perform with a $236 price target (versus a $180.94 close) at Oppenheimer. Goldman Sachs has a consensus price target of $216.78 and a 52-week range of $171.26 to $218.77.
Lululemon Athletica Inc. (NASDAQ: LULU) was raised to Overweight from Equal Weight with a $68 price target (versus a $52.91 close) at Morgan Stanley. Lululemon has a consensus price target of $64.27 and a 52-week range of $37.86 to $70.00.
Micron Technology Inc. (NASDAQ: MU) was started as Overweight with a $20 price target (versus a $15.50 close) at Barclays. Micron has a consensus price target of $26.52 and a 52-week range of $13.50 to $36.59.
Nike Inc. (NYSE: NKE) was reiterated as Buy and the price target was raised to $130 from $125 (versus a $115.05 close) at Cowen. This call is ahead of Nike’s Investor Day. The consensus price target is $121.40 and the 52-week range is $79.27 to $117.72.
Nokia Corp. (NYSE: NOK) was raised to Buy from Hold at Deutsche Bank. Nokia closed at $6.60 and has a consensus analyst target price of $8.94 and a 52-week range of $5.71 to $8.68.
SanDisk Corp. (NASDAQ: SNDK) was started as Equal Weight with a $60 price target (versus a $52.69 close) at Barclays. SanDisk has a consensus price target of $65.32 and a 52-week range of $44.28 to $106.64.
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Other key analyst upgrades, downgrades and initiations on Monday were seen in the following:
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