Stocks were indicated higher on Monday, showing that the trend of buying the dips and the sell-offs after four years has not died. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new trading and investing ideas for our readers. Some analyst calls cover stocks to buy, and other calls cover stocks to sell or avoid. These are this Monday’s top analyst upgrades, downgrades and initiations.
Applied Materials Inc. (NASDAQ: AMAT) was downgraded to Underperform from Market Perform at RBC Capital Markets, and the price target was cut to $12.00 from $16.00.
ArcelorMittal (NYSE: MT) was raised to Buy from Sell at Citigroup.
AutoZone Inc. (NYSE: AZO) was raised to Outperform from Perform, with an $850 price target (versus a $740 prior close) at Oppenheimer.
Azure Midstream Partners L.P. (NYSE: AZUR) was maintained as Buy with a fair value estimate of $30.00 at Janney Capital Markets. This is after recently trading at $6.75, and the report is based on the distribution being safe and representing a special opportunity.
Bluebird Bio Inc. (NASDAQ: BLUE) was raised to Overweight from Equal Weight with a $143.00 price target (versus a $94.07 close) at Morgan Stanley.
Boston Scientific Corp. (NYSE: BSX) was raised to Strong Buy from an already-positive Outperform rating with a price target of $21.00 at Raymond James. This was also on the heels of a positive Barron’s feature report over the weekend called for another 20% upside.
Cedar Fair L.P. (NYSE: FUN) was maintained as Buy with a $67 price target or fair value estimates (versus a $52.95 close) at Janney Capital Markets.
Cytec Industries Inc. (NYSE: CYT) was downgraded to Neutral from Buy with a $75 price target (versus a $73.88 close) at Sterne Agee CRT.
DineEquity Inc. (NYSE: DIN) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Discover Financial Services (NYSE: DFS) was raised to Outperform from Market Perform at Bernstein.
International Business Machines Corp. (NYSE: IBM) was maintained as Sector Perform at RBC Capital Markets. The firm lowered its price target to $155.00 from $170.00 ahead of negative headwinds affecting the upcoming earnings report and guidance.
Johnson & Johnson (NYSE: JNJ) was started as Neutral at Piper Jaffray.
Microsoft Corp. (NASDAQ: MSFT) was reiterated with an Outperform rating and with a $53.00 price target ahead of its Windows 10 hardware launch event at FBR Capital Markets.
Moody’s Corp. (NYSE: MCO) was started with a Buy rating and was assigned a $120 price target at Argus.
Rockwell Automation Inc. (NYSE: ROK) was downgraded to Equal Weight from Overweight at Barclays, and the price target was cut to $91.00 from $133.00.
Scripps Networks Interactive Inc. (NYSE: SNI) was downgraded to Sell from Neutral and the price target was cut to $47 from $74 (versus a $49.80 close) at Goldman Sachs.
St. Jude Medical Inc. (NYSE: STJ) was maintained as Sell with a $64 price target at Canaccord Genuity, after another warning letter and ahead of third-quarter earnings.
Twitter Inc. (NYSE: TWTR) was raised to Buy from Hold with a $37.00 price target at Axiom Capital.
Viacom Inc. (NASDAQ: VIAB) was downgraded to Neutral from Buy with a $46 price target (versus a $44.33 close) at Goldman Sachs.
Wynn Resorts Ltd. (NASDAQ: WYNN) was raised to Market Perform from Underperform at Telsey Advisory, on the heels of the recent weakness tied to Macau.
In case you missed Friday’s top analyst upgrades and downgrades, they included AIG, Facebook, Gilead Sciences, Google, Regeneron Pharmaceuticals, Twitter, Valeant Pharmaceuticals, Vertex Pharmaceuticals and more.
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