Top Analyst Upgrades and Downgrades: Johnson & Johnson, Lockheed Martin, MGIC Investment, TransCanada, Verizon and More

The stock market is still challenging all-time highs, despite fears of Brexit and valuations being high. Investors just keep proving that they will buy their favorite stocks on pullbacks.

24/7 Wall St. reviews dozens of analyst research reports each morning in an effort to find new investing and trading ideas for its readers. Some of these analyst reports cover stocks to buy, while other reports feature stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Wednesday morning:

Johnson & Johnson Inc. (NYSE: JNJ) was reiterated as Buy and the price target was raised to $145 from $130 (versus a $125.25 prior close) at Argus. It has a consensus analyst price target of $120.83 and a 52-week trading range of $81.79 to $125.75.

Lockheed Martin Corp. (NYSE: LMT) was reiterated as Buy and the price target was raised to $$290 from $255 at Argus. Credit Suisse maintained a Neutral rating, but the firm raised its target price to $255 from $225. Shares closed at $258.96, and the 52-week range is $181.91 to $263.37.

MGIC Investment Corp. (NYSE: MTG) was raised to Buy from Neutral with a $9 price target (versus a $6.81 close) at Compass Point. The 52-week range is $5.36 to $11.34, and the consensus price target is $9.45.

TransCanada Corp. (NYSE: TRP) was started with a Buy rating and given a $70 price target (versus a $46.51 close) at Goldman Sachs. The 52-week range is $28.40 to $47.49. The consensus analyst target is $47.90.

Verizon Communications Inc. (NYSE: VZ) was downgraded to Perform from Outperform at Oppenheimer. The stock closed at $55.70, and it has a 52-week range of $38.06 to $56.95. The consensus price target is $53.16.

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Other top analyst upgrades and downgrades were seen as follows: