Stocks got a big boost on news that Janet Yellen is talking down the Federal Reserve’s desire to hike interest rates no matter what. Investors in 2016 have used rallies a chance to sell, with a prior four-year history of buying up every dip. The climate still points to investors wanting to look for value in a volatile market.
24/7 Wall St. reviews dozens of analyst reports each day to find new investing and trading ideas for its readers. Some of these analyst reports are on stocks to buy, while other reports cover stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday, February 10, 2016.
Akamai Technologies Inc. (NASDAQ: AKAM) was started as Neutral with a $45 price target (versus a $39.57 prior close) at Credit Suisse. Shares were last seen up 17% after a solid earnings report at $46.25, in a 52-week trading range of $39.43 to $78.44.
Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) was raised to Outperform from Underperform at BNP Paribas. The stock closed down 3.2% at $6.09 on Tuesday but was indicated up 5.5% at $6.42 early Wednesday. The consensus target price is listed as $6.60 (may be imperfect for American depositary shares) and the 52-week range is $5.89 to $10.75.
Dean Foods Co. (NYSE: DF) was raised to Outperform from Market Perform and the price target was raised to $25 from $21 (versus a $19.02 close) at Bernstein. It was also raised to Buy from Hold at BB&T Capital.
SolarCity Corp. (NASDAQ: SCTY) was raised to Strong Buy from Outperform at Raymond James, but the price target was cut to $60 from $75. Credit Suisse maintained its Outperform rating, but the firm thinks positive value creation will continue and it lowered the price target to $89 from $124. Roth Capital downgraded SolarCity to Neutral from Buy and slashed and burned its target to $19 from $64 in the call. SolarCity shares were last seen down 30% at $18.50, after closing down 5.7% at $26.35 on Tuesday. The prior 52-week range was $24.07 to $63.79.
Valero Energy Corp. (NYSE: VLO) was maintained as Buy but was removed from the Conviction Buy list, and the price target was cut to $74 from $83, at Goldman Sachs. The consensus analyst target is about $80, and the 52-week range is $51.68 to $73.88.
Other key analyst upgrades and downgrades seen on Wednesday were in the following: