Autodesk Inc. (NASDAQ: ADSK) was last seen trading up 5.2% at $116.40 after its adjusted earnings beat expectations, above its prior high of $115.25. Autodesk was reiterated as Outperform with a $128 price target at Wedbush. Merrill Lynch maintained its Neutral rating, based on average revenue per user being of low quality despite the results looking good on the surface.
Beacon Roofing Supply Inc. (NASDAQ: BECN) was raised to Overweight from Sector Weight with a $52 price target (versus a $43.54 close) at KeyBanc Capital Markets. Northcoast Research raised its rating to Buy from Neutral with a $53 price target.
China Life Insurance Co. Ltd. (NYSE: LFC) was raised to Buy from Neutral at Merrill Lynch.
Dollar General Corp. (NYSE: DG) was reinstated as Buy with a $90 price objective (versus a $75.69 close) at Merrill Lynch.
Hormel Foods Corp. (NYSE: HRL) was downgraded to Neutral from Outperform and the price target was cut to $33 from $39 at Credit Suisse. The firm noted that volatility has reduced visibility, and it also removed Hormel from its U.S. Focus List.
MercadoLibre Inc. (NASDAQ: MELI) was raised to Buy from Hold with a $275 price target (versus a $243.62 close) at Stifel.
MINDBODY Inc. (NASDAQ: MB) was started with a Hold rating and assigned a $26 price target (versus a $23.10 close) at Jefferies.
PVH Corp. (NYSE: PVH) was reiterated as Outperform and the target price was raised to $149 from $136 at Credit Suisse.
Splunk Inc. (NASDAQ: SPLK) was raised to Positive from Neutral with a price target of $76 (versus a $60.28 close) at Susquehanna. Merrill Lynch reiterated its Buy rating with an $80 price objective. Splunk beat estimates and gave good guidance, and its shares were indicated up 10% at $66.39 ahead of Friday’s opening bell.
Stryker Corp. (NYSE: SYK) was raised to Hold from Underperform at Needham.
VMware Inc. (NYSE: VMW) was raised to Buy from Neutral with a $120 price objective at Merrill Lynch, with the firm noting that this was a sum-of-the-parts analysis based on both its mature and emerging segments.
Wayfair Inc. (NYSE: W) was raised to Buy from Hold with a $78 price target (versus a $67.19 close) at Stifel. Its shares were indicated up 1.5% at $68.18 on Friday.
There are currently 12 big financial institutions in banking and insurance trading under book value after the recent financial sell-off.
Merrill Lynch has its top cheap dividend picks for the third quarter.
Thursday’s top analyst upgrades and downgrades included Chipotle Mexican Grill, Dick’s Sporting Goods, Gentex, HP, Lowe’s, Teva Pharmaceutical and many more.