Top Analyst Upgrades and Downgrades: Alibaba, Amazon, BofA, Cypress Semi, Flextronics, JC Penney, Lululemon, Microsoft and More

January 29, 2016 by Jon C. Ogg

Stocks were indicated to have a strong open on Friday after Japan cut its interest rates into negative territory to follow Europe on easing trends and quantitative easing. This was also after a strong gain in U.S. markets on Thursday. Some investors fear that rallies are just new selling opportunities, but the trend from 2011 to 2015 was always to buy the dips and pullbacks.

24/7 Wall St. reviews dozens of analyst reports each morning to find new investing and trading ideas for its readers. Some of these analyst reports are on stocks to buy, while others cover stocks to sell or avoid.

These are this Friday’s top analyst calls.

Alibaba Group Holding Ltd. (NYSE: BABA) was maintained as Buy but the price target was cut to $86 from $91 at Jefferies. Alibaba closed down 3.7% on Thursday after its earnings, and shares were last seen up 0.7% at $67.40, against a 52-week trading range of $57.20 to $95.06.

Amazon.com Inc. (NASDAQ: AMZN) was up 8.9% at $635.35 going into earnings, but the disappointing revenues had shares last indicated down 10% at $571.00 or so. Mizuho Securities maintained as Buy rating but cut its target to $685 from $720. Credit Suisse maintained an Outperform rating and $800 target, and Oppenheimer maintained its Outperform rating but cut the target to $700 from $745. Canaccord Genuity maintained its Hold rating and $600 target.

Bank of America Corp. (NYSE: BAC) was raised to Outperform from Sell with a $16 price target (versus a $13.53 prior close) at CLSA. Bank of America’s consensus analyst target is now $18.40 and its 52-week range is $12.94 to $18.48.