Wall Street Upgrades Banks, Trims Food Giants

Wells Fargo picked up an upgrade from analysts today. The consensus rating moved from Hold to Overweight. The average target price now stands at $100.37. The $247B bank carries just 1.1% SI % FF, suggesting short sellers are not pressing their bets against the name.

CenterPoint Energy drew a fresh new recommendation. The utility stock earned a new Buy-equivalent rating. The consensus target is $45.24. CenterPoint's SI % FF sits at 6.6%, a modest level for a utility, and availability is high at 518% of short interest.

On the bearish side, analysts trimmed targets on two consumer heavyweights. McDonald's saw its average target cut from $306.70 to $300.97. The burger chain's consensus remains solidly bullish with 19 Buy ratings, but the target move signals caution. General Mills also had its target trimmed. Analysts cut the average price to $37.22 from $37.44.

Charles River Laboratories received a target reduction to $283.14 from $284.93. The contract research firm holds an overwhelmingly bearish consensus, with 14 Sell ratings versus just one Buy. GoDaddy bucked the trend. Its average target rose to $106.53 from $105.19, adding to recent momentum.