Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$ALLY, $IBM, $MET, $QCOM, $VZ, $INCY
Daily HeffX-LTN reviews Wall Street analysts research reports to find new investing and trading ideas for our readers. Some reports cover stocks to buy, and others cover stocks to sell or avoid.
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Tuesday, as follows:
Ally Financial Inc. (NASDAQ:ALLY) analysts started with a Positive rating and assigned a 28 price target at Susquehanna. Ally Financial has a 52-wk trading range of 14.84 – 20.60 and a consensus analyst price target of 24.71.
International Business Machines Corp. (NYSE:IBM) analysts reiterated as Buy and the target price was raised to 185 from 175 at Argus. IBM has a 52-wk trading range of 116.90 – 170.64 and a consensus analyst price target of 161.00. Argus believes that IBM is succeeding in its transformation from providing legacy IT solutions to becoming a provider of comprehensive next-generation solutions including cloud, analytics and cognitive computing. And this is why Merrill Lynch and Jefferies see IBM heading further South.
MetLife Inc. (NYSE:MET) was raised to Buy from Hold with a 65 price target at Deutsche Bank. MetLife has a 52-wk trading range of 35.00 – 58.09 and a consensus analyst target price of 60.46.
Qualcomm Inc. (NASDAQ:QCOM) analysts downgraded to Neutral from Buy with a 70 price target at Instinet. Qualcomm has a 52-wk trading range of 42.24 – 71.62 and a consensus analyst price target of 73.63. Qualcomm is facing a $1-B patent royalty suit from Apple.
Verizon Communications Inc. (NYSE:VZ) was downgraded to Market Perform from Outperform at Wells Fargo. Verizon has a 52-wk trading range of 46.01 – 56.95 and a consensus analyst price target of 53.41.
Incyte Corp. (NASDAQ:INCY) was started with an Outperform rating and was assigned a 137 price target at Credit Suisse. Incyte has a 52-wk trading range of 55.00 – 122.68 and a consensus analyst price target of 122.21.