Adobe Systems Inc. (NASDAQ: ADBE) was maintained as Neutral at Credit Suisse, but the firm lowered its price target to $65 from $75, based on lower estimates and on fuzzy subscriber math.
BHP Billiton Ltd. (NYSE: BHP) was raised to Overweight from Equal Weight at Morgan Stanley. Its shares were indicated up 4.5% at $35.80, after closing at $34.25, and it has a consensus analyst target price of $46.91 and a 52-week trading range of $30.15 to $60.33.
FireEye Inc. (NASDAQ: FEYE) was maintained as Buy at Bank of America Merrill Lynch after recent weakness, but the firm trimmed its price objective to $50.00 from $60.00 (versus a $31.18 prior close). FireEye has a consensus price target of about $53.00 and a 52-week range of $24.81 to $55.33.
Lululemon Athletica Inc. (NASDAQ: LULU) was started as Buy with a $69 price target (versus a $51.74 close) at Citigroup. Lululemon shares have a consensus price target of $64.27 and a 52-week range of $37.86 to $70.00.
Nu Skin Enterprises Inc. (NYSE: NUS) was maintained as Hold and the price target was cut to $45 from $48 at Canaccord Genuity, noting that yet again China does not deliver. Stifel downgraded the stock to Sell from Hold with a $35.00 price target. Nu Skin was indicated down 16% at $39.15, versus a 52-week range of $38.00 to $62.87.
Rio Tinto PLC (NYSE: RIO) was raised to Overweight from Equal Weight at Morgan Stanley. It was last indicated up 9% at $38.75, after closing at $35.42, and it has a consensus price target of $48.04 and a 52-week range of $31.97 to $51.62.
Tesla Motors Inc. (NASDAQ: TSLA) was downgraded to Neutral from Outperform with a $282.00 price target (versus a $241.46 close) at Robert W. Baird. Tesla has a consensus price target of $299.56 and a 52-week range of $181.40 to $286.65.
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Other key analyst upgrades, downgrades and initiations this Wednesday were as follows:
Abbott Laboratories (NYSE: ABT) was raised to Overweight from Equal Weight with a $52 price target (versus a $39.89 close) at Barclays.
CME Group Inc. (NASDAQ: CME) was raised to Buy from Neutral with a $102.00 price objective (versus an $89.95 close) at Merrill Lynch.
Cognex Corp. (NASDAQ: CGNX) was maintained as Hold, but earnings estimates for 2015 and 2016 were cut, and the price target was maintained at $35.00 (versus a $36.46 close) at Canaccord Genuity.
Ctrip.com (NASDAQ: CTRP) was raised to Buy from Neutral with a $92.00 price objective (versus a $68.65 close) at Merrill Lynch.
Gap Inc. (NYSE: GPS) was started as Neutral at Citigroup.
Harmon International Industries Inc. (NYSE: HAR) was started as Underperform with a $90.00 price target (versus a $104.25 close) at Jefferies.
HollyFrontier Corp. (NYSE: HFC) was raised to Buy from Hold at Deutsche Bank.
Macy’s Inc. (NYSE: M) was started as Neutral at Citigroup.
Marathon Petroleum Corp. (NYSE: MPC) was raised to Outperform from Market Perform at Wells Fargo.
Mead Johnson Nutrition Co. (NYSE: MJN) was raised to Buy from Neutral but the price target was cut to $93 from $102 (versus a $75.09 close) at Nomura Securities.
Michael Kors Holdings Ltd. (NYSE: KORS) was started as Sell with a $38 price target (versus a $43.37 close) at Citigroup.
Phillips 66 (NYSE: PSX) was downgraded to Hold from Buy at Deutsche Bank.
Ross Stores Inc. (NASDAQ: ROST) was started as Buy at Citigroup, and the price target was started as $59.00 (versus a $47.69 close).
Tiffany & Co. (NYSE: TIF) was started as Buy with a price target of $98.00 (versus a $79.86 close) at Citigroup.
TJX Companies Inc. (NYSE: TJX) was started as Buy with an $88.00 price target (versus a $70.77 close) at Citigroup.
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TrustCo Bank Corp. (NASDAQ: TRST) was raised to Market Perform from Underperform with a price target of $6.00 (versus a $5.85 close) at Keefe Bruyette & Woods.
Urban Outfitters Inc. (NASDAQ: URBN) was started as Buy at Citigroup with a price target of $40.00 (versus a $30.58 close).
In case you missed Tuesday’s top analyst upgrades and downgrades, they included CBS, Cisco, Comerica, Twitter, FedEx, Illumina, Linn, NuVasive and over a dozen more.
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