Investing

Top Analyst Upgrades and Downgrades: BP, Chipotle, Citigroup, Electronic Arts, Eli Lilly, McDonald's, Texas Instruments, US Steel and More

Callidus Software Inc. (NASDAQ: CALD) was started with a Buy rating and assigned a $29 price target (versus a $24.45 close) at Jefferies. The firm believes that Callidus can leverage a leadership position in Sales Performance Management to a much broader market of 5% market share rather than 3% today.

CF Industries Holding Inc. (NYSE: CF) was downgraded to Neutral from Outperform and the target was cut to $30 from $31 at Credit Suisse, with this call being based on valuation.

Cinemark Holdings Inc. (NYSE: CNK) was raised to Outperform with a $44 target (versus a $38.81 close) at Wedbush, with the firm noting that the recent pullback has offered a compelling entry point.

CrossAmerica Partners L.P. (NYSE: CAPL) was downgrade to Neutral and the price objective was moved up to $30 from $28 at Merrill Lynch. The mixed call here is based on a review that the partnership’s recent unit strength fairly reflects an improved growth outlook.

Dick’s Sporting Goods Inc. (NYSE: DKS) was reiterated as Outperform with a $51 price target (versus a $35.80 close) at Wedbush. The firm noted that there is still value in Dick’s, but it did lower estimates and the prior target was $54 on this stock.

DSW Inc. (NYSE: DSW) was raised to Outperform from Neutral with a $22 price target (versus a $17.66 close) at Wedbush. The firm has greater confidence that the second quarter will generate upside relative to consensus and that the outlook for the year will be affirmed.

Dish Network Corp. (NASDAQ: DISH) was downgraded to Sell from Buy with a $52 price target (versus a $64.44 close) at Citigroup.

Freeport-McMoRan Inc. (NYSE: FCX) was reiterated as Buy and the price target was raised to $18.00 from $14.50 (versus a $14.98 close) at Jefferies. Freeport-McMoRan has a 52-week range of $9.24 to $17.06 and has a consensus price target of $14.47.

HCA Healthcare Inc. (NYSE: HCA) was down 4.5% to $82.18 on Tuesday and was indicated down 1.4% at $81.00 on Wednesday. HCA was downgraded to Neutral from Buy and the price objective was cut to $92 from $102 at Merrill Lynch, noting that its lowered guidance looks achievable but with little upside. Morgan Stanley maintained its Equal Weight rating but cut its target price to $88 from $90.

Lamar Advertising Co. (NASDAQ: LAMR) was downgraded to Market Perform from Outperform at Wells Fargo.

Tuesday’s top analyst upgrades and downgrades included Apple, Lululemon, Mondelez, Tintri, Under Armour, Yandex and many more.