Top Analyst Upgrades and Downgrades: Alibaba, ADM, CSC, Infosys, Microsoft, Wells Fargo, WisdomTree and More

Agilent Technologies Inc. (NYSE: A) was reiterated as Buy at Janney, but the fair value estimate was raised to $55 from $52 (versus a $45.42 close). Merrill Lynch maintained its Buy rating and its $49 price objective. These were after the analyst day.

AmeriGas Partners L.P. (NYSE: APU) was started with a Buy rating and it was assigned a $50 fair value estimate at Janney.

Apache Corp. (NYSE: APA) was reiterated as Underperform but the price target was raised from $35 to $40.

Atlassian Corp. PLC (TEAM) was started with an Outperform rating and was given a $28 price target (versus a $22.82 close) at Oppenheimer.

AXIS Capital Holdings Ltd. (NYSE: AXS) was downgraded to Neutral from Buy at Janney, with the firm noting that it is lacking near-term catalysts.

Bank of Montreal (NYSE: BMO) was downgraded to Hold from Buy at TD. Credit Suisse maintained its Neutral rating.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was reiterated as Buy and the price target was raised from $38 to $44 at Jefferies.

Caterpillar Inc. (NYSE: CAT) was maintained as Neutral with an $81 price objective (versus a $72.57 close) at Merrill Lynch. The firm sees few green shoots, but it says the dividend remains secure despite having risen to 4.2%.

Fresenius Medical Care AG & Co. KGaA (NYSE: FMS) was reinstated as Buy at Merrill Lynch, noting that there could be 26% upside in the converted price of American depositary shares (ADSs) as the company is turning the earnings cycle.

GW Pharmaceuticals PLC (NASDAQ: GWPH) was reiterated as Buy with a $165 price objective (versus an $87.95 close) at Merrill Lynch. The firm talked about Phase 3 trial of Epidiolex for Lennox-Gastaut syndrome (LGS), as well as the NDA filing and commercialization.

Huntington Bancshares Inc. (NASDAQ: HBAN) was downgraded to Neutral from Outperform at R.W. Baird.

Jack in the Box Inc. (NASDAQ: JACK) was raised to Outperform from Neutral at R.W. Baird. Oppenheimer reiterated its Outperform rating with a $91 price target.

Pure Storage Inc. (NYSE: PSTG) was downgraded to Market Perform from Outperform at BMO Capital Markets, and the price target was slashed to $13 from $25. Merrill Lynch maintained its Buy rating but lowered its price objective to $18 from $22. Pure Storage closed up 1.1% at $14.72 on Wednesday, but the stock is down over 18% at $11.95 after earnings, versus a 52-week range of $11.05 to $20.60.

Shire PLC (NASDAQ: SHPG) was started with a Buy rating at Stifel and was assigned a $230 price target (versus a $191.78 close).

Wednesday’s top analyst upgrades and downgrades includes Applied Materials, Best Buy, Nokia, CSC, HPE, Monsanto, Noble Energy, Western Digital and over a dozen more companies.

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