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Top Analyst Upgrades and Downgrades: AGCO, Celgene, Devon Energy, JD.com, Microsoft, SanDisk, Crocs, Illumina and Many More

Banco Santander S.A. (NYSE: SAN) was downgraded to Neutral from Overweight at JPMorgan.

Crocs Inc. (NASDAQ: CROX) was downgraded to Neutral from Overweight and the price target was cut to $12 from $17 (versus a $12.93 close) at Piper Jaffray.

Diageo PLC (NYSE: DEO) was raised to Buy from Neutral at UBS.

Huntington Ingalls Industries Inc. (NYSE: HII) was started as Market Perform with a $117 price target (versus a $107.15 close) at Cowen.

Illumina Inc. (NASDAQ: ILMN) was downgraded to Market Perform from Outperform and the price target was cut to $185 from $225 (versus a $175.82 close) at Leerink. The long and short of the matter is that Leerink doesn’t see a snapback rally, despite a big sell-off, due to an unclear next driving force.

Newell Rubbermaid Inc. (NYSE: NWL) was raised to Buy from Neutral and the price target was raised to $49 from $45 (versus a $39.71 close) at B. Riley.

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Pearson PLC (NYSE: PSO) was started as Buy at Citigroup.

Photronics Inc. (NASDAQ: PLAB) was started as Buy with a $12 price target (versus a $9.06 close) at SunTrust Robinson Humphrey.

Universal Health Services Inc. (NYSE: UHS) was raised to Overweight from Sector Weight with a $145 price target (versus a $124.81 close) at KeyBanc Capital Markets.

In case you missed Wednesday’s top analyst upgrades and downgrades, they were in shares of Analog Devices, Barracuda Networks, Gap, Level 3 Communications, Petrobras, Autodesk, HSBC and over a dozen more companies.