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Top Analyst Upgrades and Downgrades: American Water Works, Bonanza Creek, Dollar Tree, SanDisk, Valeant and Many More
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Stocks were indicated to open slightly lower on Wednesday morning, but we now have seen two consecutive two weeks of a rally. Is it possible that the trend of selling into every rally is migrating back to the buy the dip trend of the prior four years?
24/7 Wall St. reviews dozens of analyst reports each morning of the week. The goal is to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday, March 2, 2016.
American Water Works Co. Inc. (NYSE: AWK) was last seen up on news it was joining the S&P 500 Index. Based on valuation, it was downgraded to Neutral from Outperform with a $67.00 price target (versus a $65.30 prior close) at R.W. Baird. Shares were indicated up 4.7% at $68.35 on this news, and it has a consensus analyst target price of $64.82 and a 52-week trading range of $48.36 to $68.49.
Bonanza Creek Energy Inc. (NASDAQ: BCEI) was downgraded to In-Line from Outperform with a $1.00 price target (versus a $1.05 close) Imperial Capital. Canaccord Genuity downgraded it to Hold from Buy and the price target was slashed to $2 from $12. Wunderlich cut its rating to Hold from Buy. This is after many post-loss downgrades on Tuesday that sent shares down 43.5% to $1.05, with a new 52-week range of $0.88 to $30.69.
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