Stocks were indicated marginally higher on Friday, and October has turned out to be a stellar month and the best October since 2011. The Dow is up a whopping 1,700 points from the lows on October 2. Investors just keep proving that they want to buy value and buy on any pullbacks. 24/7 Wall St. reviews dozens of analyst research reports each morning. Some analyst reports cover stocks to buy and others cover stocks to sell or avoid. These are this Friday’s top analyst upgrades, downgrades and initiations.
DreamWorks Animation SKG Inc. (NASDAQ: DWA) was downgraded to Underperform from Neutral with a $16.00 price objective (versus a $21.94 prior close) at Bank of America Merrill Lynch.
First Solar Inc. (NASDAQ: FSLR) shares were indicated up over 12% at $57.50 (versus a $50.99 close) after strong earnings. First Solar was reiterated as Buy at Janney Capital Markets and the firm has a fair value estimate of $79.00.
NVIDIA Corp. (NASDAQ: NVDA) was raised to Equal Weight from Underweight and the price target was raised to $28.00 from $21.00 (versus a $27.68 close) at Morgan Stanley.
SolarCity Corp. (NASDAQ: SCTY) was downgraded to Neutral from being on the prized Conviction Buy list at Goldman Sachs, and the firm cut its price target to $41 from $79 (versus a $38.07 close and $31.50 early on Friday).
Valeant Pharmaceuticals International Inc. (NYSE: VRX) was downgraded to Neutral from Buy at BTIG. Valeant has had its share of controversy of late, and shares were indicated down 9% at $101.00, versus a 52-week trading range of $88.50 to $263.81.
YRC Worldwide Inc. (NASDAQ: YRCW) was raised to Buy from Hold with a $20 price target at Stifel. Shares rose 3% to $13.85 on Thursday and were indicated up 15% at $16.00 after Thursday’s earnings report beat expectations. YRC Worldwide’s 52-week range is $11.90 to $25.40.
Other key analyst upgrades, downgrades and initiations were seen in the following Friday morning: