Investing

Top Analyst Upgrades and Downgrades: Brocade, Facebook, First Solar, Fitbit, ONEOK Partners, Sunrun and More

Jon C. Ogg

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) was started as Buy with a $164 price target (versus a $127.74 close) at Deutsche Bank.

Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) was started as Hold with a $9.50 price target (versus a $9.01 close, after a 2% drop) at Deutsche Bank.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was started as Buy with a $106 price target (versus an $80.90 close) at Deutsche Bank.

Buenaventura Mining Co. Inc. (NYSE: BVN) was downgraded to Hold from Buy with a $15 price target (versus a $13.02 close, after a 4.9% drop) at HSBC.

Exelixis Inc. (NASDAQ: EXEL) was started as Buy with a $17 price target (versus $10.81 close) at Deutsche Bank.

Goldman Sachs BDC Inc. (NYSE: GSBD) was downgraded to Underperform from Neutral at Merrill Lynch, but the firm maintained its $20.50 price target. Its view is that this business development company’s valuation is ahead of performance at 1.2 times its net asset value.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) was started as Buy with a $65 price target (versus a $42.56 close, after a 4.6% drop) at Deutsche Bank.

NuStar G.P. Holdings LLC (NYSE: NSH) was downgraded to Underperform from Neutral at Credit Suisse.

Qiagen N.V. (NASDAQ: QGEN) was raised to Neutral from Underperform at Merrill Lynch.

Stericycle Inc. (NASDAQ: SRCL) was downgraded to Sell from Neutral with a $60 price target (versus a $76.03 close) at Goldman Sachs.

Vivint Solar Inc. (NYSE: VSLR) was started as Neutral at Credit Suisse.

Credit Suisse’s global equity strategy team now points to the 10-year yield rising to 2.15% by the end of 2017 and warns of a risk that bond yields could rise more than expected. Their view is still that equities can accommodate higher rates and they prefer playing higher rates via financial stocks.

Wednesday’s top analyst upgrades and downgrades included Brookdale Senior Living, Frontier Communications, Nike, Norfolk Southern, Pfizer, Nucor, Xylem and over a dozen more.