It may seem amazing that the Dow and S&P 500 are at all-time highs, but the post-Brexit reaction was blown out of proportion and investors are treating this as a permanently low interest rate climate ahead. Even the slow economic growth and high equity market valuations are not deterring investors from buying their favorite stocks on pullbacks.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new investing and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while others feature stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday morning:
EMC Corp. (NYSE: EMC) was downgraded to Neutral from Outperform at Macquarie, just a day after Mizuho Securities downgraded its rating to Neutral from Outperform as well. EMC has a consensus analyst price target of $28.96 and a 52-week trading range of $22.66 to $28.77.
MetLife Inc. (NYSE: MET) was downgraded to Hold from Buy and the price target was cut to $44 from $47 (versus a $40.76 prior close) at Deutsche Bank. It has a 52-week range of $35.00 to $58.13 and a consensus price target of $49.29.
Pandora Media Inc. (NYSE: P) was raised to Overweight from Neutral and the price target was raised to $18 from $12 (versus a $13.07 close) at Piper Jaffray. The consensus price target is $14.41, and the 52-week range is $7.10 to $22.60.
Whiting Petroleum Corp. (NYSE: WLL) was raised to Outperform from Neutral with a $14 price target (versus an $8.80 close) at Credit Suisse. It has a consensus price target of $13.71 and a 52-week range of $3.35 to $30.68.
Yelp Inc. (NYSE: YELP) was downgraded to Underperform from Market Perform at Wells Fargo. Shares closed at $30.38, and the consensus price target is $27.59. The 52-week range is $14.53 to $36.08.
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Other top analyst upgrades and downgrades were seen as follows: