Despite all eyes on the push to Dow Jones 20,000, the market took a breather yesterday, as slowly but surely, Wall Street is slowing down in anticipation of the Christmas holiday and the three-day weekend. The market holiday is actually on Monday, with Christmas this year falling on Sunday. The futures are flat this morning as traders and investors are thinking it may be time for some consolidation after the huge post-election rally.
24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid.
These are this Thursday’s top analyst upgrades, downgrades and initiations.
Akamai Technology Inc. (NASDAQ: AKAM) was started with a Buy rating at Guggenheim, and the firm has a $75 price target. The Wall Street consensus target is $67.58. The 52-week trading range for the shares is $39.43 to $71.04. The stock closed Wednesday at $67.87.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was downgraded to Market Perform from Strong Buy at Raymond James. Its 52-week trading range is $38.60 to $52.71, and the consensus price objective is $42.37. The shares closed above that level Wednesday at $45.56, so this could be a valuation call.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was started with a Buy rating at Aegis Capital. The 52-week range is $12.86 to $20, and the consensus price target is $19.56. The shares closed Wednesday at $15.57.
Microsoft Inc. (NASDAQ: MSFT) was started with a rating of Overweight at Piper Jaffray, and the company has an $80 price target. That compares with a Wall Street consensus target of $64.43. The stock closed Wednesday at $63.54, in a 52-week range is $48.04 to $63.80.
Oracle Corp. (NYSE: ORCL) was started with an Overweight rating at Mitsubishi UFJ with a $48 price target. The 52-week range is $33.13 to $42, and the consensus price target is $43.97. The shares closed yesterday at $38.83.
Procter & Gamble Co. (NYSE: PG) was downgraded to Hold from Buy at SunTrust. The 52-week range is $74.46 to $90.33, and the consensus price target is $91.17. The shares closed at $84.28.
Red Hat Inc. (NYSE: RHT) was downgraded to Hold from Buy at Stifel. The 52-week range for the shares is $59.59 to $84.44. The consensus price objective is $89.33. The stock closed Wednesday at $79.79.
Wynn Resorts Ltd. (NASDAQ: WYNN) was started with a Neutral rating at Aegis Capital. Its 52-week range is $49.94 to $109.50. The consensus price target is 98.38, The stock closed yesterday at $89.27.
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Other key analysts upgrades and downgrades were seen in the following.