Top Analyst Upgrades and Downgrades: AutoNation, Celldex, EP Energy, Shopify, Sony, Urban Outfitters, Valeant and More

Investing

Published: March 8, 2016 8:55 am

Last Updated: January 13, 2020 12:15 pm

Stocks were indicated to open lower on Tuesday, but this is on the heels of a three-week recovery rally. Now the S&P 500 is challenging 2,000 and the DJIA is challenging 17,000 again. Investors should be wondering if the theme of buying every dip is back in vogue. The first six weeks of 2016 was just a chance to sell into every rally, but the four-year trend before 2016 was to buy every single dip.

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

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, March 8, 2016.

AutoNation Inc. (NYSE: AN) was downgraded to Sell from Neutral but the price target was raised to $49 from $47 (versus a $52.85 prior close) at Goldman Sachs. AutoNation has a consensus analyst price target of $59.38 and a 52-week trading range of $40.45 to $67.50.

Celldex Therapeutics Inc. (NASDAQ: CLDX) was downgraded to Hold from Buy and the price target was slashed to $4 from $31 at Jefferies after its Rintega failure. This downgrade removes Rintega revenues and incorporates an increased risk discount on the remaining pipeline assets. Wedbush Securities downgraded Celldex to Neutral as well, slashing its target to $4 from $24.