Top Analyst Upgrades and Downgrades: Ambarella, Apple, Bunge, McDonald's, Micron, Occidental and Many More

Stocks were bouncing back on Tuesday morning after a big Monday sell-off. Yet again, buyers are emerging after weakness, a trend that is now about four years old. 24/7 Wall St. reviews dozens of analyst research reports each morning in order to find new trading and investing ideas for its readers. Some of these daily analyst calls cover stocks to buy, and other calls cover stocks to sell or avoid.

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

Ambarella Inc. (NASDAQ: AMBA) was maintained as Overweight but the price target was cut to $102 from $123 (versus a $55.04 prior close) at Pacific Crest. The firm’s lower price target was tied to its GoPro estimates.

Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with a $125 to $135 valuation range (versus a $112.44 close) at Wells Fargo after the iPhone 6s sales data was released. Wells Fargo noted that it sees a potentially better mix of the higher average sales price of the 6s-Plus.

Bunge Ltd. (NYSE: BG) was raised to Outperform from Neutral, but the price target was lowered to $85 from $88 (versus a $69.11 close), at Credit Suisse. Bunge has a consensus analyst target of $88.87 and a 52-week trading range of $67.06 to $93.17.

McDonald’s Corp. (NYSE: MCD) was raised to Outperform from Neutral at Credit Suisse, and the price target was raised to $112 from $100 (versus a $95.96 close) at Credit Suisse. The firm raised its 2016 estimates after the firm expected new initiatives, even though its new CEO is making changes already.

Micron Technology Inc. (NASDAQ: MU) was raised to Outperform from Market Perform at Wells Fargo ahead of earnings. The valuation range is $16 to $19 (versus a $14.06 close), but the firm lowered some of its actual earnings and sales estimates ahead of this week’s earnings report.

Occidental Petroleum Corp. (NYSE: OXY) was started as Outperform with a price target of $75.00 (versus a $63.64 close) at BMO Capital Markets. Occidental has a consensus price target of $78.84 and a 52-week range of $63.60 to $93.55.

ALSO READ: 9 Well-Known Stocks With Solid Dividend Yields Above 5%

Additional analyst upgrades, downgrades and initiations this Tuesday were seen in the following:

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