Stocks were mixed ahead of the key payrolls and unemployment report on Friday. Investors have proven repeatedly that they want to buy stocks on weakness or when there is value. 24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for its readers. Some of these 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.
Amec Foster Wheeler PLC (NYSE: AMFW) saw its shares fall a whopping 25% to $8.50 on Thursday after earnings, a dividend cut and lower guidance. Now UBS has downgraded it to Neutral from Buy.
ChannelAdvisor Corp. (NYSE: ECOM) was raised to Buy from Hold at Stifel. Shares closed at $9.09, and it has a consensus analyst target price of $13.67 and a 52-week trading range of $8.22 to $22.47.
Chipotle Mexican Grill Inc. (NYSE: CMG) was downgraded to Neutral from Outperform with a $675 price target at R.W. Baird. 24/7 Wall St. recently featured Chipotle as potentially having another $200 in downside if its problems persist.
Cree Inc. (NASDAQ: CREE) was downgraded to Sell from an already cautious Neutral rating at Goldman Sachs. The firm also lowered its price target on Cree to $21 from $24 (versus a $27.02 prior close).
Iconix Brand Group Inc. (NASDAQ: ICON) was down by almost half to $8.00 in early trading Thursday after signaling that it has to restate its financials (accounting irregularities gone wild). Iconix Brand was downgraded to Hold at Brean, and Wunderlich has a Hold rating already but lowered its target price to $10.
First Solar Inc. (NASDAQ: FSLR) was Started as Outperform at Macquarie. The stock closed at $58.33, has a consensus target price of $64.35 and has a 52-week range of $39.18 to $65.50.
Markit Ltd. (NASDAQ: MRKT) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Medivation Inc. (NASDAQ: MDVN) was maintained as Hold but the price target was cut to $49 from $50 (versus a $43.55 close) at Jefferies.