Agrium Inc. (NYSE: AGU) was downgraded to Sell from Underperform at CLSA.

Bank of Nova Scotia (NYSE: BNS) was downgraded to Neutral from Outperform at Macquarie.

Credit Suisse Group A.G. (NYSE: CS) was downgraded to Equal Weight from Overweight at Barclays.

Cullen/Frost Bankers Inc. (NYSE: CFR) was raised to Hold from Sell and the price target was raised to $67 from $52 (versus a $67.15 close) at Evercore ISI.

Deutsche Bank A.G. (NYSE: DB) was downgraded to Equal Weight from Overweight at Barclays.

Five9 Inc. (NASDAQ: FIVN) was started with a Buy rating and was given a $16 price target (versus a $12.01 close) at Craig-Hallum.

Independent Bank Group Inc. (NASDAQ: IBTX) was raised to Buy from Hold with a $49 price target (versus a $38.98 close) at Evercore ISI.

Lance Inc. (NASDAQ: LNCE) was raised to Outperform from Market Perform and the price target was raised to $40 from $36 (versus a $31.90 close) at BMO Capital Markets.

LSI Industries Inc. (NASDAQ: LYTS) was started with a Buy rating and was given a $14 price target (versus an $11.31 close) at Canaccord Genuity.

Murphy USA Inc. (NYSE: MUSA) was reiterated as Buy and the price target was raised to $82 from $76 (versus a $68.72 close) at Jefferies. It was added to the Franchise List of picks as well, with given robust merchandise margin expansion, cost savings set to accelerate, encouraging traffic patterns at Walmart, favorable economic backdrop and secular trends.

Prosperity Bancshares Inc. (NYSE: PB) was raised to Buy from Hold with a $60 price target (versus a $54.06 close) at Evercore ISI.

Qorvo Inc. (NASDAQ: QRVO) was raised to Neutral from Sell at Citigroup.

Spirit AeroSystems (NYSE: SPR) was raised to Neutral from Underperform and the price target was raised to $44 from $41 (versus a $45.66 close) at Buckingham Research.

U.S. Concrete Inc. (NASDAQ: USCR) was started with a Buy rating and was given an $80 price target (versus a $64.18 close) at D.A. Davidson.

Wednesday’s top analyst upgrades and downgrades were seen in AK Steel, Alphabet, Royal Dutch Shell, Sunoco Logistics, Terex, Verifone Systems, Williams Partners and over a dozen more.