Top Analyst Upgrades and Downgrades: Chipotle, Oracle, Orexigen, PulteGroup, Reynolds American, Valeant and More

March 16, 2016 by Jon C. Ogg

Stocks were directionless on Wednesday ahead of the Federal Reserve’s decision on interest rates. With the Dow over 17,250 and the S&P 500 at 2,015, the markets are almost flat again for 2016. This means that investors have migrated back from selling every rally to effectively buying every dip. That being said, trading volume has been extremely light this week.

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 calls cover stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Wednesday, March 16, 2016.

Chipotle Mexican Grill Inc. (NYSE: CMG) had soft sales and sees a loss for the coming quarter. The stock was downgraded to Sell from Hold with a $350 price target at Maxim Group. Shares closed down 2.5% at $503.00 on Tuesday and were indicated down 5.6% at $475.00 early Wednesday, versus a $492.75 consensus analyst target and a $399.14 to $758.61 trading range over the past year.

Oracle Corp. (NYSE: ORCL) was last seen trading up 3.5% at $40.10 after earnings. The stock was reiterated as Buy with a $50 target at Jefferies. BMO Capital Markets maintained its Market Perform rating but raised its target to $45 from $42. The consensus price target was previously seen at $43.50, and the 52-week trading range is $33.13 to $45.24.

Orexigen Therapeutics Inc. (NASDAQ: OREX) was downgraded to Market Perform from Market Outperform at JMP Securities. Piper Jaffray downgraded it to Neutral from Overweight. Shares closed down 8.76% at $0.64 on Tuesday, in a 52-week range of $0.61 to $8.24.