Top Analyst Upgrades and Downgrades: CBS, Cisco, Comerica, Twitter, FedEx, Illumina, Linn, NuVasive and Many More

Stocks were indicated slightly lower on Tuesday after solid continued gains on Monday and Friday. Investors keep signaling with their investment money that they want to buy the dips. That trend is about four years old now, even if stocks had pulled back more than 10% from their highs this year.

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 of these daily analyst calls cover stocks to buy, and other calls cover stocks to sell or avoid. These are Tuesday’s top analyst upgrades, downgrades and initiations.

CBS Corp. (NYSE: CBS) was maintained as Buy at Topeka Capital Markets, but the price target was cut to $65 from $67 (versus a $41.64 prior close) in the call. CBS has a consensus analyst price target of $63.00 and a 52-week trading range of $38.51 to $63.95.

Cisco Systems Inc. (NASDAQ: CSCO) was started as Buy with a $30 price target (versus a $26.85 close) at Citigroup. Cisco has a consensus target price of $31.09 and a 52-week range of $22.49 to $30.31.

FedEx Corp. (NYSE: FDX) was raised to Buy from Hold with a $172 price target (versus a $149.92 close) at Stifel. FedEx has a consensus target price of $186.67 and a 52-week range of $130.13 to $185.19.

Illumina Inc. (NASDAQ: ILMN) was downgraded to Neutral from Buy at Mizuho Securities. It was also downgraded to Neutral from Buy at BTIG. Both cuts were after lowering sales guidance. Illumina was down 17% at $135.50 in early trading on Tuesday, versus a prior 52-week range of $145.12 to $242.37.

Twitter Inc. (NYSE: TWTR) was maintained as Overweight at Pacific Crest, but the firm lowered its price target to $40 from $52 (versus a $28.15 close) in the call.

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Comerica Inc. (NYSE: CMA) was downgraded to Neutral from Overweight and the price target was cut to $45 from $57 (versus a $42.35 close) at JPMorgan.

Other key analyst upgrades, downgrades and initiations were seen in the following companies this Tuesday:

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