Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$EMC, $XOM, $FSLR, $NEM
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Friday, as follows:
Exxon Mobil Corp. (NYSE:XOM) downgraded to Neutral from Buy at Merrill Lynch. After a $89.24 close, the firm said that Exxon Mobil’s outperformance has lifted the shares within sight of fair value. The thesis of improving E&P margins is said to be intact, but it has perhaps been discounted by Exxon’s role in reducing energy underweights. The firm prefers Occidental Petroleum Corp. (NYSE:OXY) and really likes ConocopPhillips (NYSE:COP) better for a greater absolute value.
First Solar Inc. (NASDAQ:FSLR) analysts started with a Market Perform rating at Wells Fargo. The consensus price target is 73.62. The 52-week range is 40.25 – 74.29.
Newmont Mining Corp. (NYSE:NEM) analysts downgraded to Hold from Buy at Jefferies, and the price target was cut to 33 from 38. The firm sees near-term headwinds and near-term Gold price risks at a time of likely rising rates. The consensus price target is 35.35, and the 52-wk trading range is 15.39 – 35.75.