Top Analyst Upgrades and Downgrades: Abbott, BioMarin, CBS, Cisco, GameStop, Petrobras, Sirius XM, SunPower, Yelp and More
Stocks were indicated slightly lower on Friday the 13th, but that is also after a sharp drop on Thursday. Sell-offs create panic, but they also create opportunity. So far, the trend has been in place for over four years now that investors use each pullback as an opportunity to buy stocks on the cheap.
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, but other calls cover stocks to sell or avoid. These are this Friday’s top analyst upgrades, downgrades and initiations.
Abbott Laboratories (NYSE: ABT) was downgraded to Neutral from Buy at Goldman Sachs.
Air Lease Corp. (NYSE: AL) was raised to Overweight from Neutral at JPMorgan.
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was reiterated as Buy with a $166 price target (versus a $111.15 prior close) at Jefferies. The firm thinks there is upside from a high likelihood of a positive FDA panel vote for Kyndrisa.
CafePress Inc. (NASDAQ: PRSS) was downgraded to Underperform from Market Perform at Raymond James.
CBS Corp. (NYSE: CBS) was reiterated as Buy with a $62 price target (versus a $50.36 close) at Argus.
Cisco Systems Inc. (NASDAQ: CSCO) was indicated down 5% at $26.40 in early trading after lower guidance. Credit Suisse reiterated its Underperform rating and $22.00 price target, although it did actually raise Cisco’s estimates and said that it is performing well into a decelerating market place.
Deutsche Bank A.G. (NYSE: DB) was downgraded to Neutral from Buy at Citigroup. Shares were indicated down 4% at $42.50 after closing at $44.53, and its 52-week trading range is $31.69 to $47.83.