Wall Street’s Top Analysts Upgrades, Downgrades & Initiations
$CSCO, $FCX, $MSFT, $SPWR, $URBN
Below is a list of Wall Streets top analysts upgrades, downgrades and initiations for Friday, as follows:
Cisco Systems Inc. (NASDAQ:CSCO) Oppenheimer maintained its Outperform rating and its $34 target, but it warned that tough macro issues and product weakness add to its challenges. Jefferies reiterated its Buy rating and 35 target based on strong billing metrics. Cisco has a 52-wk trading range of 22.46 – 31.95.
Freeport-McMoRan Inc. (NYSE:FCX) analysts downgraded to Hold from Buy with a 12.50 price target at Deutsche Bank. Note that the stock was trading under 11 just two weeks ago, and its 52-wk trading range is 3.52 – 14.26.
Microsoft Corp. (NASDAQ:MSFT) was raised to Buy from Neutral with a 68 price target at Goldman Sachs. It has a 52-wk trading range of 48.04 – 61.37 and a consensus analyst price target of 63.79.
SunPower Corp. (NASDAQ:SPWR) analysts downgraded to Neutral from Outperform with a 7 price target at Robert W. Baird. The firm does not see SunPower’s prospects recovering any time soon, even with the shares down 80% from a peak due to a supply glut and industry deterioration. They see its premium modules having a harder time selling, and shares were down nearly 6% at 6.82 Thursday.
Urban Outfitters Inc. (NASDAQ:URBN) downgraded to Equal Weight from Overweight at Morgan Stanley. The consensus analyst target is 37.36, and the 52-wk trading range is 20.06 – 40.80.