Stocks were looking for direction on Wednesday, but that is after a very strong gain on Tuesday. Investors have proven that they will buy stocks on pullbacks for four years now, or will buy into strength, in a bull market that is nearing seven years old. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, while other calls cover stocks to sell or to avoid.
These are this Wednesday’s top analyst upgrades, downgrades and initiations.
Athenahealth Inc. (NASDAQ: ATHN) was maintained as Underperform with a $105 price target (versus $167.87 prior close) at Jefferies. The firm urges caution ahead of its analyst meeting next week, saying that 2016 guidance and inpatient revenue ramps could both be disappointing. Canaccord Genuity maintained its Hold rating and $140 price target.
AT&T Inc. (NYSE: T) was reiterated as Buy with a very high $40.00 price target (versus a $33.77 close) at Jefferies. The firm said that meetings with AT&T support a positive view on integrating DirecTV, high revenue per user and maintaining its rational pricing behavior.
Cepheid (NASDAQ: CPHD) was downgraded to Market Perform from Outperform at Wells Fargo. Canaccord Genuity reiterated its Hold rating, noting that good 2016 guidance is overshadowed by lowering 2017 targets. Cepheid closed down 2% at $35.21 on Tuesday, with a consensus price target of $42.41 and a 52-week trading range of $29.21 to $63.69.
Chevron Corp. (NYSE: CVX) was raised to Buy from Neutral at Citigroup, citing a solid balance sheet and based on its valuation. Chevron closed at $92.48, and it has a consensus analyst price target of $96.81 and a 52-week range of $69.58 to $114.82.
Dollar General Corp. (NYSE: DG) was maintained as Outperform but with a price target lowered to $82 from $88 (versus $65.72 close) at RBC Capital Markets. Dollar General has a consensus analyst price target of $82.09 and a 52-week range of $59.75 to $81.42.
Mobileye N.V. (NYSE: MBLY) was started with a Buy rating and was assigned a $68 price target (versus a $43.46 close) at Evercore ISI. Mobileye has a consensus price target of close to $72.50 and a 52-week trading range of $32.41 to $64.48.
Additional key analyst upgrades, downgrades and initiations were seen in the following Wednesday morning: