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Top Analyst Upgrades and Downgrades: Analog Devices, Barracuda, Gap, Level 3, Petrobras, Autodesk, HSBC and Many More

Stocks were indicating big gains on Wednesday morning. As we keep seeing, investors show interest in stocks when they see bargains. 24/7 Wall St. reviews dozens of analyst research reports each morning in order to find new trading and investing ideas for its readers. Some of these daily analyst calls cover stocks to buy while others cover stocks to sell or avoid.

These are this Wednesday’s top analyst upgrades, downgrades and initiations.

Analog Devices Inc. (NASDAQ: ADI) was raised to Buy from Neutral after closing at $54.05 at Citigroup. It has a consensus analyst target of $67.56 and a 52-week trading range of $42.57 to $68.97.

Barracuda Networks Inc. (NYSE: CUDA) was downgraded to Neutral from Overweight and the price target was slashed to $20 from $40 (versus a $23.55 prior close) at Piper Jaffray. The stock has a consensus analyst price target of $41.21 and has a 52-week range of $21.85 to $46.78. The problem here is that shares were last seen down over 20% around $17.70 after its sales missed expectations.

Gap Inc. (NYSE: GPS) has negative news after the head of the Old Navy unit is stepping down, and shares were indicated down 7% on Wednesday morning at $28.25. The stock...