Analog Devices Inc. (NASDAQ: ADI) was raised to Outperform from Market Perform with a $66.00 price target (versus a $56.05 prior close) at BMO Capital Markets. Analog Devices has a consensus analyst price target of $67.48 and a 52-week trading range of $42.59 to $68.97.
Intel Corp. (NASDAQ: INTC) was reiterated as Buy and its $39 price target was maintained as well at Canaccord Genuity. The firm is introducing its 2017 estimates calling for mid-single digit revenue and earnings growth. Intel has a consensus analyst price target of $33.90 and a 52-week range of $24.87 to $37.90.
Oracle Corp. (NYSE: ORCL) was downgraded to Market Underperform from Market Perform and was given a $31.00 price target (versus a $37.82 close) at JMP Securities. Oracle’s consensus price target is $44.71 and the software giant has a 52-week range of $35.14 to $46.71.
Royal Dutch Shell PLC (NYSE: RDS-A) was raised to Buy with a $73.00 price target (versus a $54.13 close) at Argus. Shell has a 52-week range of $45.81 to $72.20. The firm expects Shell’s underperformance against the S&P and the energy sector in the past five years to reverse as Shell cuts costs, improves its return on capital and maintains adequate liquidity.
Twitter Inc. (NYSE: TWTR) was downgraded to Market Perform from Market Outperform at JMP Securities. Twitter closed at $29.06, has a consensus price target of $38.23 and has a 52-week range of $21.01 to $53.49.
Under Armour Inc. (NYSE: UA) was reiterated as Buy at Canaccord Genuity, but the firm raised its price target up to $130 from $105 (versus a $101.28 close). The firm said that apparel will drive solid third-quarter sales growth. This ties for the street-high analyst target price. Under Armour’s consensus price target is $106.78, and its 52-week range is $60.00 to $105.89.
Whiting Petroleum Corp. (NYSE: WLL) was downgraded to Hold from Buy with a $23.00 price target, lowered from $29.00 and versus a $19.27 close, at Deutsche Bank. Whiting has a consensus analyst price target of $30.03 and has a 52-week range of $13.50 to $64.39.
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Other key analyst upgrades, downgrades and initiations on Wednesday morning were seen in the following:
Ameresco Inc. (NYSE: AMRC) was started as Outperform at Oppenheimer.
American Equity Investment Life Holding Co. (NYSE: AEL) was started as Buy with a $29.00 price target (versus a $24.37 close) at Citigroup.
Arthur J. Gallagher& Co. (NYSE: AJG) was started as Outperform at Wells Fargo.
Axalta Coating Systems Ltd. (NYSE: AXTA) was started as Outperform with a price target of $34.00 (versus a $26.66 close) at RBC Capital Markets.
Celanese Corp. (NYSE: CE) was started as Sector Perform at RBC Capital Markets.
Cepheid (NASDAQ: CPHD) was downgraded to Market Perform from Outperform at Raymond James.
Diplomat Pharmacy Inc. (NYSE: DPLO) was raised to Neutral from Underperform at Bank of America Merrill Lynch.
Eastman Chemical Co. (NYSE: EMN) was started as Outperform with an $88.00 price target (versus a $70.89 close) at RBC Capital Markets.
Encana Corp. (NYSE: ECA) was started as Buy and was assigned a $12.00 price target (versus an $8.39 close) at Deutsche Bank.
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Fifth Third Bancorp (NASDAQ: FITB) was maintained as Buy at Janney Capital Markets, but the firm lowered its earnings estimates and lowered its fair value estimate to $23 from $24 in the call.
Heartware International Inc. (NASDAQ: HTWR) was raised to Neutral from Sell at Goldman Sachs, but the price target was cut to $42.00 from $67.00 (versus a $35.21 close).
Key Energy Services Inc. (NYSE: KEG) was downgraded to Neutral from Outperform at R.W. Baird. This is already a $0.69 stock, so interest has faded considering its 52-week range of $0.42 to $4.13.
Mallinckrodt PLC (NYSE: MNK) was started as Outperform and was assigned an initial $92.00 price target (versus a $64.99 close) at Northland.
Microsemi Corp. (NASDAQ: MSCC) was started with a Buy rating and was assigned a $42.00 price target (versus a $34.59 close) at Mizuho Securities.
Prima Biomed Ltd. (NASDAQ: PBMD) was started as Buy with a $3.00 price target (versus a $1.22 close) at H.C. Wainwright.
RLJ Lodging Trust (NYSE: RLJ) was downgraded to Market Perform from Outperform at Wells Fargo.
RPM International Inc. (NYSE: RPM) was started as Sector Perform with a $47.00 (versus a $44.00 close) at RBC Capital Markets.
SAP A.G. (NYSE: SAP) was raised to Buy from Hold at HSBC Securities.
Taubman Centers Inc. (NYSE: TCO) was raised to Outperform from Neutral with a $95.00 price target (versus a $72.50 prior target and a $73.44 close) at Cowen.
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WPX Energy Inc. (NYSE: WPX) was started as Outperform and was assigned a $14.00 price target (versus an $8.34 close) at Imperial Capital.
In case you missed Tuesday’s top analyst upgrades and downgrades, they included CenturyLink, JetBlue AIrways, Level 3 Communications, Netflix, PulteGroup, United Technologies, VMware and Whiting Petroleum.
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