Stocks were indicated marginally higher on Tuesday, but it feels like the market is just looking for direction ahead of the Federal Reserve’s FOMC meeting and ahead of next week’s election, which felt like it would never get here. Investors have been able to look past high valuations and not get tired despite the bull market now being closer to eight years old than seven. They have bought every single pullback for five years now. Investors also are looking for new ideas for gains and income as we head into 2017.
24/7 Wall St. reviews dozens of analyst upgrades and downgrades each day to find new trading and investing ideas for its readers. Some of the analyst calls cover stocks to buy, and some cover stocks to sell or avoid.
Somehow, some way, it is already November. Here are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:
Baker Hughes Inc. (NYSE: BHI) was downgraded to Outperform from Strong Buy with a $65 price target (versus a $55.40 prior close) at Raymond James. Baker Hughes is in a deal to merge with GE’s Oil & Gas unit, and this removes the formal buyout hopes that have been in place for years (and GE used to be a rumored suitor). Atlantic Equities raised Baker Hughes to Neutral from Underweight.
Brocade Communications Systems Inc. (NASDAQ: BRCD) was raised to Outperform from Sector Perform at RBC Capital...