As the US market remains poised to close Wednesday's trading on a disappointing note, several stocks were either upgraded or downgraded by analysts
and rating agencies. Some notable stocks are discussed here.
Analysts at Gleacher upgraded the share rating of Cisco Systems, Inc. (Nasdaq: CSCO
: 15.16, 1.14) to Buy from Neutral with a price target of $20. They believe that the networking giant has a very attractive risk or reward profile. It is set to unveil its fiscal 2011 fourth quarter earnings after the market closes today. Shares of Cisco were trading at $13.89, down 1.17 percent or 17 cents in the afternoon session.
Walt Disney Co. (NYSE: DIS: 31.53, -2.37) is downgraded to Hold from Buy with a price target of $39 by analysts at Wunderlich, who believes that the former has little-term potential outside of ESPN. Shares of Wald Disney slumped 7.82 percent or $2.72 to trade at $31.89 in the closing hours.
AutoZone Inc. (NYSE: AZO: 274.73, -5.27) is raised to Buy from Hold by analysts at Citigroup as they believe that the former has a potential upside of 13.6 percent based on a current price of $278.97. They raise the stock's price target to $326 from their previous PT of $300. Shares of AutoZone fell 0.48 percent or $1.34 to trade at $278.76.
Analysts at UBS raised the shares rating of Allstate Corp. (NYSE: ALL: 24.31, -1.47) to Buy from Neutral as they believe that the recent sell-offs has improved the risk or reward for the stock. Shares of Allstate were down 4.58 percent or $1.18 to trade at $24.57 in the last hour.
VMware Inc. (NYSE: VMW: 85.48, -2.56) is upgraded to Outperform from Market Perform with a price target of $110 by analysts at FBR Capital. They state that virtualization demand should remain strong in the coming quarters. Shares of VMware fell 1.44 percent or $1.27 to trade at $86.90 in the last hour.
Monster Worldwide, Inc. (NYSE: MWW) is downgraded to Hold from Buy by analysts at Citigroup, with a price target of $10. Analysts cut the stock's rating following rising macro and competitive concerns. Shares of Monster Worldwide slumped 9.76 percent or 91 cents to trade at $8.41 in the closing session.
Analysts at Gleacher upgraded the share rating of Cisco Systems, Inc. (Nasdaq: CSCO
: 15.16, 1.14) to Buy from Neutral with a price target of $20. They believe that the networking giant has a very attractive risk or reward profile. It is set to unveil its fiscal 2011 fourth quarter earnings after the market closes today. Shares of Cisco were trading at $13.89, down 1.17 percent or 17 cents in the afternoon session. Walt Disney Co. (NYSE: DIS
: 31.53, -2.37) is downgraded to Hold from Buy with a price target of $39 by analysts at Wunderlich, who believes that the former has little-term potential outside of ESPN. Shares of Wald Disney slumped 7.82 percent or $2.72 to trade at $31.89 in the closing hours. AutoZone Inc. (NYSE: AZO
: 274.73, -5.27) is raised to Buy from Hold by analysts at Citigroup as they believe that the former has a potential upside of 13.6 percent based on a current price of $278.97. They raise the stock's price target to $326 from their previous PT of $300. Shares of AutoZone fell 0.48 percent or $1.34 to trade at $278.76. Analysts at UBS raised the shares rating of Allstate Corp. (NYSE: ALL
: 24.31, -1.47) to Buy from Neutral as they believe that the recent sell-offs has improved the risk or reward for the stock. Shares of Allstate were down 4.58 percent or $1.18 to trade at $24.57 in the last hour. VMware Inc. (NYSE: VMW
: 85.48, -2.56) is upgraded to Outperform from Market Perform with a price target of $110 by analysts at FBR Capital. They state that virtualization demand should remain strong in the coming quarters. Shares of VMware fell 1.44 percent or $1.27 to trade at $86.90 in the last hour. Monster Worldwide, Inc. (NYSE: MWW) is downgraded to Hold from Buy by analysts at Citigroup, with a price target of $10. Analysts cut the stock's rating following rising macro and competitive concerns. Shares of Monster Worldwide slumped 9.76 percent or 91 cents to trade at $8.41 in the closing session.
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