Stocks were up on Wednesday, ahead the Federal Open Market Committee (FOMC) meeting, and investors seem nervous about how to interpret hawkish or dovish comments. Regardless of the Federal Reserve, and maybe any other uncertainties too, investors keep showing that they will buy the top stocks, either on weakness or when there is value. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for our readers.
Some analyst reports cover stocks to buy and others cover stocks to sell or to avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Akamai Technologies Inc. (NASDAQ: AKAM) was gutted, with shares indicated down 18% at $61.50 after earnings and weak guidance. The content delivery acceleration provider was downgraded to Market Perform from Outperform and its price target was cut to $70 from $75 (versus a $75.55 prior close) at Cowen. Akamai has a consensus analyst price target of $76.55 and a 52-week trading range of $55.78 to $78.44.
Apple Inc. (NASDAQ: AAPL) has seen at least one key upgrade after earnings, being raised to Overweight from Sector Weight and with a $142.00 price target at Pacific Crest. Apple shares were last seen up almost 2% at $116.80, and its consensus analyst target price is closer to $149.00, against a 52-week range of $92.00 to $134.54.
Devon Energy Corp. (NYSE: DVN) was downgraded to Sell from Neutral at UBS. The stock closed down 3.7% at $41.20. It has a consensus analyst price target of almost $57.00 and a 52-week range of $36.01 to $70.48.
GrubHub Inc. (NYSE: GRUB) fell almost 24% to $24.49 after missing earnings expectations on Tuesday. Susquehanna lowered its rating to Neutral from Positive and cut its target to $25 from $44, while RBC Capital Markets lowered its rating to Sector Perform from Outperform and cut its target to $27 from $42.
JetBlue Airways Corp. (NASDAQ: JBLU) was downgraded to Neutral from Outperform and the price target was cut to $28.00 from $32.00 at Credit Suisse. Shares closed down 3% at $25.36. The consensus target price is $29.36, and the 52-week range is $11.11 to $27.36.
Kroger Co. (NYSE: KR) was reiterated as Outperform at Telsey Advisory Group, but the price target was raised to $43 from $41 (versus a $36.99 close). Kroger has a consensus price target of $42.00 and a 52-week range of $27.09 to $39.43.
Twitter Inc. (NYSE: TWTR) may have drifted lower after earnings, but Stifel Nicolaus raised its rating to Buy from Hold with a $34.00 price target. Twitter shares closed at $31.34, but they were indicated lower by 11% at $27.85 in early trading indications Wednesday.
UBS A.G. (NYSE: UBS) was downgraded to Neutral from a prior Overweight rating at JPMorgan. UBS closed at $20.30 in New York trading, and it has a 52-week trading range of $16.01 to $23.19.
Yelp Inc. (NYSE: YELP) was started with a Sell rating and was assigned a $17.50 price target (versus a $22.90 close) at Roth Capital. Shares were indicated down 3% at $22.17. They have a consensus price target of $33.04 and a 52-week range of $20.50 to $63.76.
Other key analyst upgrades, downgrades and initiations on Wednesday were in the following: