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Top Analyst Upgrades and Downgrades: Antares, Michael Kors, Palo Alto, Ralph Lauren, Chipotle, Ericsson, and More

Bon-Ton Stores Inc. (NASDAQ: BONT) was downgraded to Underperform from In-Line and the price target was cut to $4.00 from $6.00 (versus a $6.21 close) at Imperial Capital.

Canadian Natural Resources Ltd. (NYSE: CNQ) was started as Overweight at JPMorgan.

Digital Ally Inc. (NASDAQ: DGLY) was started as Buy with a price target of $20 (versus a $14.59 close) at Roth Capital.

Ericsson (NASDAQ: ERIC) was raised to Buy from Neutral at Citigroup.

Ignite Restaurant Group Inc. (NASDAQ: IRG) was downgraded to Neutral from Buy at UBS.

FedEx Corp. (NYSE: FDX) was started as Neutral at Nomura.

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The Fresh Market Inc. (NASDAQ: TFM) was downgraded to Neutral from Overweight at JPMorgan.

Magnum Hunter Resources Corp. (NYSE: MHR) was downgraded to Hold from Buy and the price target was cut to $2 from $3 (versus a $1.91 close).

Occidental Petroleum Corp. (NYSE: OXY) was started as Overweight with a price target of $85 (versus a $76.82 close) at JPMorgan.

Pier 1 Imports Inc. (NYSE: PIR) was started as Buy at Cantor Fitzgerald.

Sage Therapeutics Inc. (NASDAQ: SAGE) was started as Outperform with a $95 price target (versus a $69.65 close) at Cowen.

Semtech Corp. (NASDAQ: SMTC) was downgraded to Sell from Neutral at B. Riley.

Sterling Construction Co. (NASDAQ: STRL) was started as Buy and given a price target of $6.00 (versus a $3.72 close) at Maxim Group.

United Parcel Service Inc. (NYSE: UPS) was started as Neutral at Nomura.

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In case you missed out on Wednesday’s top analyst upgrades and downgrades, they included Ambarella, eBay, Rite Aid, TiVo, Yahoo, Valero Energy, Virtu Financial and over a dozen more companies.

In addition, HSBC cut China’s GDP forecast for 2015 to 7.1% from 7.3%.

Credit Suisse lowered earnings estimates for broad U.S. airlines on PRASM, fuel and lower multiples.

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