Top Analyst Upgrades and Downgrades: Alibaba, Blue Apron, Gap, Harmony Gold, Myriad Genetics, Noble, Walmart and More

Applied Materials Inc. (NASDAQ: AMAT) was reiterated as Outperform at Credit Suisse, and the price target was raised to $62 from $54.

Brunswick Corp. (NYSE: BC) was downgraded to Neutral from Outperform at Wedbush, as the firm works to gain clarity on weak industry data.

Heron Therapeutics Inc. (NASDAQ: HRTX) was started as Overweight with a $31 price target (versus a $15.25 close) at Cantor Fitzgerald.

Infosys Ltd. (NASDAQ: INFY) was maintained as Neutral with an $18 price target (versus a $15.93 close) at Wedbush, with the firm noting that the CEO resignation raises uncertainty.

LATAM Airlines Group S.A. (NYSE: LTM) was reiterated as Buy with a $14.50 price objective at Merrill Lynch, noting stronger top-line drivers being followed by lower fleet capex and rationality.

Nabors Industries Ltd. (NYSE: NBR) was raised to Buy from Neutral with an $8 price target (versus a $6.35 close) at Seaport Global. It has a 52-week range of $6.18 to $18.40 and a consensus price target of $11.08.

Quanta Services Inc. (NYSE: PWR) was raised to Buy from Neutral with a $43 price target (versus a $33.83 close) at Citigroup.

Tonix Pharma Holding Corp. (NASDAQ: TNXP) was raised to Buy from Neutral with a $6 target price (versus a $2.97 close) at Roth Capital Partners.

Weyerhaeuser Co. (NYSE: WY) was reiterated as Buy with a $37 price target at Argus.

Zoe’s Kitchen Inc. (NYSE: ZOES) was up 8.3% at $13.28 ahead of earnings and was down 7.4% at $12.30 afterward. It was reiterated as Underperform and the target price was cut to $12.50 from $13.00 at Credit Suisse.

S&P sent out a scorecard for second-quarter earnings, with some 94% of S&P 500 Index companies having reported. They call second-quarter earnings strong on several measures and noted that this was the second quarter in a row in which the S&P 500 Index posted double-digit earnings growth since emerging from the earnings recession in the first quarter of 2015 (at −6.7% growth). While earnings per share growth for the S&P 500 did moderate slightly from the first quarter, that increased by 10.8% and S&P showed that the last time there were two quarters in a row of double-digit growth was in 2011.

Thursday’s top analyst upgrades and downgrades were in Abbott Laboratories, Baxter International, Cisco Systems, National Oilwell Varco, Nucor, Procter & Gamble, Target and more. Wednesday’s top analyst upgrades and downgrades included Agilent Technologies, Biogen, CB&I, Dick’s Sporting Goods, Home Depot, Mylan, Teva Pharmaceutical and more.

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