Top Analyst Upgrades and Downgrades: AT&T, BioCryst, Eli Lilly, Facebook, Flextronics, Gap, Tesla and More

October 9, 2015 by Jon C. Ogg

Stocks were up yet again on Friday, making for one serious move, with the Dow up about 1,000 points from the lows of just last Friday. Investors have proven over and over that they will buy the top stocks on weakness. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week. The goal is to find new investing and trading ideas for our readers. Some of these analyst calls cover stocks to buy. Others cover stocks to sell or avoid. These are this Friday’s top analyst upgrades, downgrades and initiations.

AT&T Inc. (NYSE: T) was maintained as Hold with a $35 price target at Canaccord Genuity. The firm’s comments were mostly positive, but it remains unprepared to call for a turn in growth yet, so it held the rating firm.

BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) was down almost 18% on Thursday after what was supposed to be a positive drug trial. Bank of America Merrill Lynch lowered its rating to Neutral from Buy and cut the price objective to $12 from $16 (versus a $9.75 prior close).

Eli Lilly & Co. (NYSE: LLY) was raised to Outperform from Neutral and the price target was raised to $105 from a prior target of $89 (versus an $83.77 close) at Credit Suisse.

Facebook Inc. (NASDAQ: FB) was reiterated as Outperform at Credit Suisse, and the firm raised its price target to $115 from $110, with raised estimates, after adding more revenue generation. Facebook closed at $92.46 and has a consensus analyst price target of $111.60.

Flextronics International Ltd. (NASDAQ: FLEX) was started as Buy with a $14.00 price target (versus a $10.92 close) at B. Riley. The consensus price target is $12.40, and the 52-week trading range is $8.46 to $12.86.

Gap Inc. (NYSE: GPS) was downgraded to Hold from Buy and its price target was slashed to $29 from $40 (versus a $28.95 close) at MKM Partners. The Gap has a consensus price target of $34.76 and a 52-week range of $27.33 to $43.90.

Tesla Motors Inc. (NASDAQ: TSLA) took a second downgrade this week as it was dropped to Underweight from Equal Weight and the price target was cut to $180 from $190 at Barclays. The stock closed at $226.72, has a consensus price target of $295 or so, and has a 52-week range of $181.40 to $286.65.

ALSO READ: 3 Top Jefferies Hidden Value Stocks to Buy Now

Other key analyst upgrades, downgrades and initiations were seen in the following on Friday:

ABB Ltd. (NYSE: ABB) was raised to Hold from Underperform at Jefferies.

Alamo Group Inc. (NYSE: ALG) was downgraded to Underperform from Buy with a $45 price objective (versus a $50.46 close) at Merrill Lynch.

AngioDynamics Inc. (NASDAQ: ANGO) was maintained as Buy at Janney Capital Markets, but the firm lowered its price target to $17.50 from $19.00 after saying that decent operating execution, notwithstanding soft top line, still justifies the rating.

Ashland Inc. (NYSE: ASH) was maintained as Buy but was removed from the prized Conviction Buy List at Goldman Sachs.

ArcelorMittal (NYSE: MT) was raised to Overweight from Neutral at JPMorgan.

Biomed Realty Trust Inc. (NYSE: BMR) was downgraded to Market Perform from Outperform at R.W. Baird.

CPI Aerostructures Inc. (NYSE: CVU) was started as Buy and was assigned a $12.00 price target (versus an $8.75 close) at Canaccord Genuity.

Digital Turbine Inc. (NASDAQ: APPS) was started with a Buy rating and $3.30 price target (versus a $1.92 close) at B. Riley.

ALSO READ: Will Cloud, Servers and Data Centers Be the Next Growth Frontiers for Qualcomm?

DuPont Fabros Technology Inc. (NYSE: DFT) was started with a Buy rating and was assigned a $32.00 fair value estimate (versus a $27.46 close) at Janney Capital Markets.

Ecolab Inc. (NYSE: ECL) was downgraded to Neutral from Overweight with a $120 price target (versus a $120.53 close) at JPMorgan.

Franklin Resources Inc. (NYSE: BEN) was downgraded to Hold from Buy with a price target cut to $40 from $44 (versus a $38.89 close) at Deutsche Bank, based on expected outflows after five months of seeing such outflows.

Global Payments Inc. (NYSE: GPN) was downgraded to Hold from Buy but the price target was raised to $135 from $129 (versus a $132.45 close) at Jefferies.

Infinera Corp. (NASDAQ: INFN) was started as Equal Weight with a $21.00 price target (versus a $19.85 close) at Morgan Stanley.

Jabil Circuit Inc. (NYSE: JBL) was started with a Buy rating and was given a $29.00 price target (versus a $22.48 close) at B. Riley.

Monsanto Co. (NYSE: MON) was maintained as Buy at Argus after disappointing guidance, but the firm lowered its price target to $111 from $132 in the call (versus an $89.25 close).

Parker-Hannifin Corp. (NYSE: PH) was raised to Neutral from Underweight and the price target was raised to $103 from $98 (versus $106.81 close) at JPMorgan.

Twenty-First Century Fox Inc. (NASDAQ: FOXA) was started as Overweight with a price target of $32.00 (versus a $28.57 close) at Pacific Crest.

Zimmer Biomet Holdings Inc. (NYSE: ZBH) was started as Outperform with a $107 price target at Credit Suisse.

ALSO READ: Oppenheimer Upgrades 2 High-Yielding MLPs Despite Ugly Sector View

In case you missed Thursday’s top analyst upgrades and downgrades, they included Brookdale Senior Living, Dish Network, Groupon, Infinera, Medtronic, Pier 1 Imports, Tupperware, Yum Brands and over a dozen more.

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