Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$BHI, $BRCD, $CTL, $CVX, $JNVR, $NOV
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Wednesday, as follows:
Baker Hughes Inc. (NYSE:BHI) downgraded to Outperform from Strong Buy with a 65 price target at Raymond James. Baker Hughes is in a deal to merge with GE’s Oil & Gas unit, and this removes the formal buyout hopes that have been in place for years, and GE used to be a rumored suitor over the past 10 years. Atlantic Equities raised Baker Hughes to Neutral from Underweight.
Brocade Communications Systems Inc. (NASDAQ:BRCD) was raised to Outperform from Sector Perform at RBC Capital Markets.. This stock has appeared in Analyst Stocks Under $10 features and has been considered buyout bait for some time.
CenturyLink Inc. (NYSE:CTL) analysts maintained as Underperform at Jefferies and the price target was cut to 20 from 24. The firm noted that the Level 3 buyout does not resolve its long-term concerns and falls short in transforming the business.
Chevron Corp. (NYSE:CVX) raised to Overweight from Equal Weight at Morgan Stanley and the price target was raised to 130 from 115. It was also added to the Goldman Sachs Conviction Buy list Monday, with numerous analyst calls liking Chevron now much more than Exxon Mobil in the current energy price environment.
Juniper Networks Inc. (NYSE:JNPR) analysts downgraded to Underweight from Equal Weight and the price target was cut to 20 (versus a $26.34 close) at Morgan Stanley.
National Oilwell Varco Inc. (NYSE:NOV) was raised to Hold from Sell with a 35 price target at Societe Generale.