Investing

Top Analyst Upgrades and Downgrades: Alcoa, Boeing, Freeport-McMoRan, Intel, SunEdison, Disney and More

Jon C. Ogg

Published: March 3, 2016 8:45 am

Last Updated: January 13, 2020 12:26 pm

Stocks were looking for direction on Thursday, but the markets have bounced handily over the past two weeks. The investing community remains mixed over whether this is a bear market rally or the market has bottomed. Still, the trend of selling into every rally in 2016 has seemed to migrate in the past week or two to the prior “buy the dips” 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, while others cover stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Thursday, March 3, 2016.

Alcoa Inc. (NYSE: AA) was downgraded to Neutral from Buy at Bank of America Merrill Lynch. Its shares closed at most recently at $9.62 and have a consensus analyst target price of $10.19 and a 52-week trading range of $6.14 to $14.56.

Boeing Co. (NYSE: BA) was downgraded to Hold from Buy with a $135 price target (versus a $119.65 prior close) at Canaccord Genuity. This matters as Canaccord, one of the more bullish firms, now has thrown in the towel. Boeing has a consensus analyst target of close to $141 and a 52-week range of $102.10 to $155.99.

Freeport-McMoRan Inc. (NYSE: FCX) was downgraded to Neutral from Buy at UBS. The stock closed up over 15% at $8.97 on Wednesday. It has a consensus target price of $6.30 and a 52-week range of $3.52 to $23.97.

24/7 Wall St.
Dogs of the Dow on Fire in 2016: 4 to Buy With Yields of 4% or More