Top Analyst Upgrades and Downgrades: Cisco, CSX, Hilton, L Brands, Lockheed Martin, Salesforce, Teck Resources, Tesoro and More

May 19, 2016 by Jon C. Ogg

Stocks were indicated a tad lower on Thursday, but not so much that the path of the day looks set in stone. The Dow and S&P 500 might be swinging up and down on the tail end of earnings season, but despite the notion of “sell in May and go away” investors have proven over and over that they are looking for opportunities and will buy the big market dips.

24/7 Wall St. reviews dozens of analyst research reports each morning of the week. Our goal is to find new investing and trading ideas for our readers. Some of these analyst reports cover stocks to buy, and other reports feature stocks to sell or stocks to avoid.

These are the top analyst upgrades, downgrades and initiations seen on Thursday morning:

Cisco Systems Inc. (NASDAQ: CSCO) was last seen up 5% at $26.72 after beating earnings. Credit Suisse maintained its Underperform rating but raised it estimates and raised its downside price target to $24 from $22. RBC maintained an Outperform rating and raised its target to $33. Wunderlich raised its target to $28. Wells Fargo reiterated its Outperform rating and raised its valuation range to $33 to $35 from the prior range of $29 to $32.

CSX Corp. (NYSE: CSX) was started with an Underperform rating and was assigned a price target of $27 (versus a $25.75 prior close) at CLSA. It has a consensus analyst price target of $27.71 and a 52-week trading range of $21.33 to $35.87.