Analyst calls: Fortinet downgraded
Toll Brothers is upgraded to 'neutral,' and Nordstrom is initiated with a 'buy.'
Thursday's noteworthy upgrades include:
- Adobe (ADBE) upgraded to Neutral from Sell at Goldman
- Boyd Gaming (BYD) upgraded to Overweight from Equal Weight at Morgan Stanley
- Lam Research (LRCX) upgraded to Outperform from Neutral at Cowen
- Toll Brothers (TOL) upgraded to Neutral from Negative at Susquehanna
Thursday's noteworthy downgrades include:
- Family Dollar (FDO) downgraded to Neutral from Buy at Goldman
- Fortinet (FTNT) downgraded to Neutral from Buy at BofA/Merrill
- Microsoft (MSFT) downgraded to Sell from Neutral at Goldman (Microsoft owns and publishes Top Stocks, an MSN Money site.)
- Broadcom (BRCM) downgraded to Underweight from Overweight at Barclays
- Barrick Gold (ABX) downgraded to Hold from Buy at TD Securities
- Adobe (ADBE) initiated with an Overweight at Evercore
- Kraft Foods (KRFT) initiated with a Market Perform at Wells Fargo
- Mondelez (MDLZ) initiated with an Outperform at Wells Fargo
- Simon Property (SPG) initiated with a Market Perform at BMO Capital
- Xerox (XRX) initiated with an Overweight at Piper Jaffray
- Tiffany (TIF) initiated with a Buy at Topeka
- Gap (GPS) initiated with a Buy at Topeka
- Nordstrom (JWN) initiated with a Buy at Topeka
- American Eagle (AEO) initiated with a Buy at Topeka
- Abercrombie & Fitch (ANF) initiated with a Hold at Topeka
- Pacific Sunwear (PSUN) initiated with a Hold at Topeka
- Aeropostale (ARO) initiated with a Hold at Topeka
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Stocks are facing some serious resistance as the bears tear into the market's respite.
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