Tuesday’s Top Upgrades: Bank of America Corp (BAC), Amgen, Inc. (AMGN), Regeneron Pharmaceuticals Inc (REGN), Achillion Pharmaceuticals, Inc. (ACHN)

A number of Wall Street analysts weighed in on their favorite stocks this morning before market open. Below are the most notable analyst upgrades:

Bank of America Corp

Nomura Securities analyst Steven Chuback upgraded his rating on Bank of America Corp (NYSE:BAC) from Neutral to Buy with an $18 price target, representing a 15% potential upside from where the stock last closed. The analyst reasoned his upgrade on Bank of America, commenting, “While the potential for even higher capital requirements still hangs over the G-SIBs, if the Fed were to incorporate tougher capital rules in CCAR, our latest findings show the ROE / valuation impact for BAC should be much less than peers.”

Click here to view Steven Chuback’s rating history and performance.

Amgen, Inc.

UBS analyst Matt Roden upgraded his rating on Amgen, Inc. (NASDAQ:AMGN) from Neutral to Buy and raised his price target from $165 to $168, marking a 14.2% potential upside from where the stock last closed. The analyst’s upgrade stems from positive numbers from Repatha, the company’s cholesterol-lowering drug. He notes, “Big picture, significant new product cycles – such as the PCSK9 launches – are what’s most important in biotech, especially when numbers are beatable, and our survey suggests upside to estimates.”

Click here to view Matt Roden’s rating history and performance.

Regeneron Pharmaceuticals Inc

Matt Roden of UBS also upgraded his rating on Regeneron Pharmaceuticals Inc (NASDAQ:REGN) from Sell to Buy with a price target of $565, marking a 13% potential upside from where shares last closed. The analyst reasoned the upgrade with his belief that the company will beat estimates by the end of the year. He notes, “Big picture, REGN is in a significant growth phase with the Eylea DME launch and now the Praluent launch, both of which should drive upward revisions in the near term, while mid-long term infections could be driven by dupilumab (ph3 data 2016e) and the emerging I/O combo pipeline, where we are most interested in the bispecifics.”

Achillion Pharmaceuticals, Inc.

Andrew Peters of UBS upgraded his rating on Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from Neutral to Buy with a price target of $11.50, citing the recent market pull-back as a good buying opportunity just before the HCV newsflow. The analyst commented, “With shares down ~33% since announcing the HCV partnership with JNJ, we believe the pullback provides a favorable entry point for the stock as our $11.50 price target reflects fair value for a (risk-adjusted) potentially competitive regimen in HCV.”

Click here to view Andrew Peter’s rating history and performance.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts