These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Analog Devices Inc. (NASDAQ: ADI) was raised to Buy from Neutral after closing at $54.05 at Citigroup. It has a consensus analyst target of $67.56 and a 52-week trading range of $42.57 to $68.97.
Barracuda Networks Inc. (NYSE: CUDA) was downgraded to Neutral from Overweight and the price target was slashed to $20 from $40 (versus a $23.55 prior close) at Piper Jaffray. The stock has a consensus analyst price target of $41.21 and has a 52-week range of $21.85 to $46.78. The problem here is that shares were last seen down over 20% around $17.70 after its sales missed expectations.
Gap Inc. (NYSE: GPS) has negative news after the head of the Old Navy unit is stepping down, and shares were indicated down 7% on Wednesday morning at $28.25. The stock was downgraded to Sell from Neutral with a $25 price target at UBS. Mizuho also cut its rating to Underperform with a $25 price target.
Level 3 Communications Inc. (NASDAQ: LVLT) was raised to Buy from Neutral with a $57 price target (versus a $41.64 close) at UBS. The consensus analyst price target is $60.47, and the 52-week range is $37.61 to $57.08.
Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, was started as a very dismal Underperform at Macquarie. Petrobras American depositary shares closed at $3.89 and have a 52-week range of $3.72 to $17.64.
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Additional analyst upgrades, downgrades and initiations on Wednesday included the following:
Abengoa Yield PLC (NYSE: ABY) was downgraded to Equal Weight from Overweight and the price target was cut to $23 from $46 (versus a $16.40 close) at Morgan Stanley.
Autodesk Inc. (NASDAQ: ADSK) was maintained as Buy after the analyst day observations and highlights at Canaccord Genuity, but the price target was lowered to $60 from $65.
Brookfield Asset Management Inc. (NYSE: BAM) was raised to Outperform from Market Perform at BMO Capital Markets.
Danaher Corp. (NYSE: DHR) was started as Outperform with a $93 price target (versus an $83.21 close) at Leerink.
Genuine Parts Co. (NYSE: GPC) was downgraded to Sell from Neutral with an $83 price target (versus an $82.54 close) at Goldman Sachs.
HSBC Holdings PLC (NYSE: HSBC) was raised to Buy from Neutral at UBS.
Lantheus Holdings Inc. (NASDAQ: LNTH) was downgraded to Market Perform from Outperform at Wells Fargo.
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Madison Square Garden Co. (NYSE: MSG) was raised to Buy from Hold at Stifel Nicolaus.
Post Holdings Inc. (NYSE: POST) was raised to Buy from Neutral by SunTrust Robinson Humphrey.
Sequenom Inc. (NASDAQ: SQNM) was downgraded to Hold from Buy and the $5 price target was slashed to $1.50 (versus a $1.67 close) at Jefferies.
Signature Bank (NASDAQ: SBNY) was started as Outperform with a $168 price target (versus a $135.86 close) at RBC Capital Markets.
Sterling Bancorp. (NYSE: STL) was started as Outperform with an $18 price target (versus a $14.71 close) at RBC Capital Markets.
Williams Partners L.P. (NYSE: WPZ) was started as Neutral with a $42.00 price objective (versus a $29.75 close) at Bank of America Merrill Lynch.
Workday Inc. (NYSE: WDAY) was reiterated as Buy at Canaccord Genuity, but the price target was cut to $90 from $100.
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In case you missed Tuesday’s analyst upgrades and downgrades, they included Ambarella, Apple, Bunge, McDonald’s, Micron Technology, Occidental Petroleum and over a dozen more companies.
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