Top Analyst Upgrades and Downgrades: Baker Hughes, Cree, Freeport-McMoRan, GrubHub, Silver Wheaton, Dynegy, Panera, Ulta and More

Bio-Techne Corp. (NASDAQ: TECH) was started as Buy with a $115 price target (versus a $99.86 close) at Citigroup.

Dynegy Inc. (NYSE: DYN) was downgraded to Sell from Hold with a $6 price target at Deutsche Bank. Dynegy closed down 1.3% at $8.70 on Wednesday and was indicated down over 6% at $8.15 on Thursday.

FedEx Corp. (NYSE: FDX) was reiterated as Buy with a $220 price objective at Merrill Lynch, noting that the peak ground margin impacts have passed and they look for improving free cash flow.

OraSure Technologies Inc. (NASDAQ: OSUR) was indicated up 23% at $10.92 after earnings. It was raised to Outperform from Market Perform at Raymond James

Panera Bread Co. (NASDAQ: PNRA) was reiterated as Buy and the price target was raised to $267 from $245 at Jefferies. Panera was cut to Neutral from Buy at Longbow, but Credit Suisse reiterated its Outperform rating and its price target was raised to $260 from $225.

Rambus Inc. (NASDAQ: RMBS) was raised to Overweight from Neutral with a $14.50 price target (versus a $12.40 close) at JPMorgan. Rambus was indicated up 2.8% at $12.75 on Thursday.

Southern Copper Corp. (NYSE: SCCO) was downgraded to Underweight from Equal Weight at Barclays, but the price target was bumped from $32 to $33 in the call. Southern Copper shares closed up 2% at $38.70 on Wednesday, and its 52-week range is $23.54 to $39.23.

Spark Technologies Inc. (NASDAQ: ONCE) was started with an Outperform and assigned an $85 price target (versus a $63.06 close) at Leerink.

Synchronoss Technologies Inc. (NASDAQ: SNCR) was downgraded to Hold from Buy and the price target was cut to $35 from $50 at Deutsche Bank, Synchronoss was down 4% at $35.38 on Wednesday ahead of earnings, and shares were indicated down 14% at $30.40 in Thursday’s early bird indications. The 52-week range is $22.00 to $49.94.

Ulta Beauty Inc. (NASDAQ: ULTA) was started as Hold with a $285 price target (versus a $272.82 closing price) at Loop Capital.

Vantiv Inc. (NYSE: VNTV) was downgraded to Hold but the price target was raised to $69 from $65 (versus a $63.60 close) at Jefferies. The firm noted that it sees upside potential to estimates in 2017 and 2018, and it acknowledges that Vantiv would see material accretion from U.S. corporate tax reform. That being said, the firm believes those dynamics are largely priced in.

Westlake Chemical Corp. (NYSE: WLK) was started as Buy and assigned a $72 price target (versus a $61.99 close) at Citigroup.

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Wednesday’s top analyst upgrades and downgrades included Broadcom, Cheniere Energy, Gilead Sciences, Microchip Technology, Twitter, Lennar, Bankrate and over a dozen more.