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Top Analyst Upgrades and Downgrades: Broadcom, Ciena, GoPro, National Oilwell Varco, Snap, Expedia, Palo Alto Networks and More

Clean Harbors Inc. (NYSE: CLH) was started with a Neutral rating at Goldman Sachs.

Dr Pepper Snapple Group Inc. (NYSE: DPS) was raised to Buy from Hold and the price target was raised to $115 from $98 (versus a $94.62 close) at Jefferies. The firm raise the organic sales and earnings forecast and sees the Bai acquisition adding to the growth.

Emerson Electric Co. (NYSE: EMR) was raised to Hold from Reduce with a $55 price target (versus a $60.31 close) at HSBC. The 52-week range is $48.45 to $64.36.

Kite Pharma Inc. (NASDAQ: KITE) was down 5.7% to $75.10 on Thursday and was indicated down 1.5% at $74.00 on Friday. Kite Pharma was downgraded to Hold from Buy with a $74 price target at Stifel.

Kroger Co. (NYSE: KR) was maintained as Buy at Goldman Sachs, but the firm removed Kroger from the prized Conviction Buy list. Argus lowered its price target to $40 from $43.

PHH Corp. (NYSE: PHH) was raised to Outperform from Neutral but the price target was cut to $15.50 from $17.00 (versus a $12.59 close) at Wedbush. The firm called PHH a deep value on all fronts.

SAP A.G. (NYSE: SAP) was raised to Buy from Hold at Soc-Gen.

Southern Co. (NYSE: SO)  was raised to Buy from Hold and the price target was raised to $56 from $50 (versus a $50.32 close) at Jefferies. The firm believes that Southern Company will be able to deliver on its 5% EPS growth target given all the levers it has to pull should Kemper or returns at Power not come to fruition. Argus also downgraded the shares to Hold.

One issue that needs to be addressed after Merrill Lynch raised its S&P 500 price target this week is that Credit Suisse has now started warning investors to expect a Federal Reserve rate hike in March. This is based on higher core U.S. inflation and economic data pointing to strong global growth momentum, as well as with the Fed’s rhetoric becoming increasingly more hawkish and having a hint of urgency. Credit Suisse sees three rate hikes between now and February 2018.