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Top Analyst Upgrades and Downgrades: Avis Budget, Baker Hughes, Enphase, Hecla Mining, MannKind, Nokia, Tesla, US Steel and More

Stocks were indicated higher on Wednesday. Investors just keep proving that they want to buy stocks on any pullbacks or when new opportunities arise. 24/7 Wall St. reviews dozens of analyst research reports each day to find new ideas and hidden value for its readers. Some analyst reports cover stocks to buy, while other calls cover stocks to sell or avoid. These are this Wednesday’s top analyst upgrades, downgrades and initiations.

Avis Budget Group Inc. (NASDAQ: CAR) was downgraded to Neutral from Overweight at JPMorgan. Avis Budget closed at $46.35 after an 11% drop on Tuesday, and JPMorgan lowered its price target to $49 from $55. The stock has a 52-week trading range of $39.04 to $68.66 and a consensus analyst target price of $56.56.

Baker Hughes Inc. (NYSE: BHI) saw its price target lowered to $62 from $68 at Jefferies, but this call is based on a lower expectation that the acquisition by Halliburton will close. The odds were lowered to 67% from 85%, and the firm sees 25% to 30% downside in Baker Hughes shares if the merger is blocked or falls apart.

Enphase Energy Inc. (NASDAQ: ENPH) was downgraded to Neutral from Buy and the price target was cut to $3.00 from $4.50 (versus a $3.72 prior close) at Roth Capital. Canaccord Genuity also threw in the towel here, lowering its rating to Hold from Buy. Shares were indicated down 28% at $2.65 after beating earnings and guidance were soft.

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Groupon Inc. (NASDAQ: GRPN) was last seen down 28% at $2.87 in early trading after disappointing revenues. Groupon was downgraded to Underperform from Buy and the price objective was cut in half to $2.75 from $5.50 (versus a $4.03 close) at...