Top Analyst Upgrades and Downgrades: Bank of America, Fitbit, Teva Pharma, Disney, Regions Financial, Noble, Sysco and More
Capital One Financial (NYSE: COF) was downgraded to Neutral from Outperform with an $82 price target (versus an $82.15 close) at Robert W. Baird.
Chemours Co. (NYSE: CC) was reiterated as Hold and the price target was raised to $25 from $17 (versus a $22.02 close) at Jefferies.
Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Underperform from Neutral with a $21 price target (versus a $25.67 close) at Robert W. Baird.
Fossil Group Inc. (NASDAQ: FOSL) was raised to Overweight from Sector Weight with a $42 price target (versus a $32.92 close) at KeyBanc Capital Markets.
Ingersoll-Rand PLC (NYSE: IR) was downgraded to Neutral from Buy with a $73 price target (versus a $75.92 close) at Buckingham Research.
Jacobs Engineering Group Inc. (NYSE: JEC) was downgraded to Neutral from Buy with a $62 price target (versus a $59.19 close) at D.A. Davidson.
Noble Corp. PLC (NYSE: NE) was downgraded to Underperform from Neutral with a $5 price objective (versus a $5.46 close) at Merrill Lynch.
Nordic American Tanker Ltd. (NYSE: NAT) was started as Market Perform at Wells Fargo.
Pan American Silver Corp. (NASDAQ: PAAS) was raised to Outperform from Market Perform at BMO Capital Markets.
Sysco Corp. (NYSE: SYY) was downgraded to Neutral from Outperform and the price target was cut to $55 from $59 (versus a $53.50 close) at Credit Suisse.
Teladoc Inc. (NYSE: TDOC) was started with a Buy rating and assigned a $24 price target (versus a $16.95 close) at Chardan Capital.
One issue that may be taking a toll on Wednesday is that Neel Kashkari of the Minneapolis Federal Reserve is out calling for far higher capital requirements for the larger banks. In some cases, these are crippling capital requirements that would hurt GDP and lending massively.
Tuesday’s top analyst upgrades and downgrades included Abercrombie & Fitch, Bank of America, Cisco Systems, Hertz Global, Home Depot, Wells Fargo and over a dozen more.