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Apple Upgraded; Bearish Calls on eBay, Wells Fargo

7/14/14 11:31 AM EDT
In Monday's Analysts' Actions, Apple gets an upgrade at Barclays, Pacific Crest makes a bearish call on eBay and JPMorgan lowers its price target on Wells Fargo. eBay (EBAY) was downgraded to Sector Perform from Out Perform at Pacific Crest Securities. The firm says eBay currently lacks positive catalysts, and that (AMZN) and Priceline (PCLN) are better picks in large cap e-commerce. Wells Fargo (WFC) gets a downgrade at JPMorgan (JPM) to a Neutral from Overweight. JPMorgan says Wells Fargo (WFC) has good loan growth but expenses are rising. The new price target was lowered to $52 a share. Apple was upgraded at Barclays to Overweight from Equal Weight. Barclays says it also raised its price target on Apple to $110 from $95 a share. The firm says CEO Tim Cook's leadership was the catalyst for the upward revision. TheStreet's Susannah Lee has the details from New York.
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