AbbVie Inc. (NYSE: ABBV) was raised to Buy from Neutral with a $65 price target (versus a $55.28 close) at Citigroup. Just the prior day, AbbVie was reiterated as Buy at Jefferies and named a Top Global Pick. Shares closed up 1.8% at $55.28 on Monday, and the consensus analyst target is $72.25, with a 52-week range of $45.45 to $71.60.
Arcelor Mittal (NYSE: MT) was downgraded to Market Perform from Outperform at Cowen.
Avangrid Inc. (NYSE: AGR) was downgraded to Neutral from Buy with a fair value estimate of $39.00 (versus a $38.75 close) at Janney Capital Markets. The firm lowered earnings forecasts for 2016 and 2017, and the downgrade is based on valuation.
Cerner Corp. (NASDAQ: CERN) was downgraded to Neutral from Buy with a price target cut to $54 from $62 (versus a $52.46 close) at Goldman Sachs. Cerner had a consensus analyst target price of $64.65 and has a 52-week range of $49.89 to $75.72.
Columbia Pipeline Partners, L.P. (NYSE: CPPL) was downgraded to Neutral from Outperform with a $22 price target (versus a $15.70 close) at Credit Suisse.
Exelon Corp. (NYSE: EXC) was downgraded to Sell from Neutral at Citigroup.
Genesee & Wyoming Inc. (NYSE: GWR) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Landstar System Inc. (NASDAQ: LSTR) was downgraded to Underweight from Equal Weight at Morgan Stanley.
Lumentum Holdings Inc. (NASDAQ: LITE) was started as Overweight with a $31 price target (versus a $24.20 close) at Piper Jaffray.
NeoPhotonics Corp. (NYSE: NPTN) was started as Overweight with a $13 price target (versus a $10.00 close) at Piper Jaffray.
Oclaro Inc. (NASDAQ: OCLR) was started as Overweight with a $6 price target (versus a $4.63 close) at Piper Jaffray.
RetailMeNot Inc. (NASDAQ: SALE) was started as Neutral with a $7 price target (versus a $7.68 close) at Wedbush Securities.
If you missed Monday’s top analyst upgrades and downgrades, they included AbbVie, Deere, Expedia, Hewlett Packard Enterprise, JPMorgan, Phillips 66 and over a dozen more companies.