Top Analyst Upgrades and Downgrades: Aegerion, Amazon, EMC, McDonald's, MetLife, Microsoft, SanDisk, Tyco and More
Stocks were indicated higher on Wednesday after Tuesday’s minor recovery that broke the losing streak for stocks. Some excitement is around Mario Draghi and ECB quantitative easing expectations, but the reality here is that investors just keep showing that they want to buy stocks on pullbacks and when value propositions arise. 24/7 Wall St. reviews dozens of analyst reports each day to find new ideas for its readers. Some analyst reports cover stocks to buy, and other analyst calls cover stocks to sell or avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Aegerion Pharmaceuticals Inc. (NASDAQ: AEGR) was raised to Neutral from Underperform and the price objective was cut to $13 from $21 (versus a $10.64 prior close, after an 18.9% drop) at Bank of America Merrill Lynch. Shares closed at $13.12 on Monday, but it was at $16.36 last Friday.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Overweight at Morgan Stanley, but the price target was raised to $800 (versus a $659.68 close). The stock has a consensus analyst price target of $720.11 and a 52-week trading range of $285.25 to $662.26.
EMC Corp. (NYSE: EMC) was downgraded to Market Perform from Outperform at Wells Fargo. EMC has a consensus analyst price target of $29.81 and a 52-week range of $22.66 to $30.92. More concerns over how the Dell buyout will go are in the air.
McDonald’s Corp. (NYSE: MCD) was reiterated as Outperform and the $118 price target was raised to $128 (versus a $113.22 close) at Credit Suisse. The firm feels that McDonald’s will keep customers and investors alike engaged in the company.
MetLife Inc. (NYSE: MET) was downgraded to Equal Weight from Overweight and the price target was cut to $56 from $58 (versus a $50.77 close) at Morgan Stanley. MetLife has a consensus price target of $57.67 and a 52-week range of $44.49 to $58.23.
Microsoft Corp. (NASDAQ: MSFT) was reiterated as Buy at CLSA, and the firm raised its price target to $60 (versus a $53.51 close). Microsoft has a consensus price target of $54.87 and a 52-week range of $39.72 to $54.98.
SanDisk Corp. (NASDAQ: SNDK) was downgraded to Market Perform from Outperform with a price target of $86.50 (versus a $75.70 close) at Bernstein. SanDisk was noted Tuesday as an Apple supply chain loser, but it is also being acquired by Western Digital.
Tyco International PLC (NYSE: TYC) was raised to Overweight from Neutral with a $48.00 price target (versus a $36.72 close) at JPMorgan. Tyco’s consensus analyst price target is $40.81 and its 52-week range is $33.06 to $44.84.
Other key analyst upgrades and downgrades seen Wednesday were seen in shares of the following: