Wall Street’s Top Analysts Upgrades, Downgrades & Initiations

Wall Street’s Top Analysts Upgrades, Downgrades & Initiations


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:

Applied Materials Inc. (NASDAQ:AMAT) reiterated as Buy and the price target was raised to 50 from 43 at Needham. Its 52-wk trading range of 19.54 – 43.64 and with a consensus analyst target price at 41.43. While Applied Materials shares are now trading above the consensus target price, note that the prior Street-high analyst target ahead of this call was 45.

Cisco Systems Inc. (NASDAQ:CSCO) was raised to Equal Weight from Overweight with a 39 price target at Morgan Stanley. The stock finished up 2% at 34.23 Monday. Its 52-wk trading range is 26.49 – 34.60 and it has a consensus price target of 35.84. Cisco’s Street-high analyst target is at 42.

Johnson & Johnson (NYSE:JNJ) was raised to Overweight from Neutral with a 140 price target at JPMorgan. Analysts have a consensus price target of 129.00 on Johnson & Johnson, and the 52-wk trading range is 109.32 – 129.00.

Level 3 Communications Inc. (NASDAQ:LVLT) downgraded to Underperform from Market Perform at Raymond James. Shares trade in a 52-wk range of 44.01 – 61.43 and with a consensus target price of 62.82. As a reminder, CenturyLink is in the process of acquiring Level 3, and CenturyLink recently had a stake added by the activist hedge fund Corvex Management.

Salesforce.com Inc. (NYSE:CRM) was reiterated as Outperform and the price target was raised to 100 from 92 at BMO Capital Markets. Wedbush Securities reiterated its Outperform rating and 102 price target, with the firm noting that demand trends have been improving since December across the software universe and that Salesforce’s work to accelerate its adoption in large enterprises is bearing fruit. After rising 1.5% on Friday, it finished up 1% at 89.80 Monday.

Stay tuned…

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