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Top Analyst Upgrades and Downgrades: Altria, Apple, Discovery, DowDuPont, JPMorgan, Red Hat, T-Mobile and More

Allergan PLC (NYSE: AGN) was up 3.4% at $211.61 on Monday and shares were indicated up another 1% at $213.95 on Tuesday. Credit Suisse maintained its Outperform rating but cut its target price to $266 from $286. Instinet maintained a positive call as well but lowered its target price down to $250 from $267.

Boston Beer Co. Inc. (NYSE: SAM) was raised to Neutral from Underperform and the price target was raised to $150 from $140 at Credit Suisse.

Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Neutral from Outperform and the price target was cut to $44 from $52 (versus a $41.52 close) at Wedbush Securities. The firm sees pressure on fast casual to the point that it is expecting comparable sales and margin to remain under pressure.

Cheniere Energy Inc. (NYSEMT: LNG) was started as Outperform with a $60 price target (versus a $44.12 close) at BMO Capital Markets.

Citigroup Inc. (NYSE: C) was maintained as Hold but the price target was raised to $67 from $61 at Deutsche Bank. Instinet lowered its price target to $80 from $81 despite a positive stance in a bank sector call. Citigroup shares were down 0.8% at $70.84 on Monday, in a 52-week range of $45.16 to $72.20 and with a consensus target price of $73.16.

Equinix Inc. (NASDAQ: EQIX) was started with a Buy rating and assigned a $550 price target (versus a $437.21 close) at Berenberg.

GrubHub Inc. (NYSE: GRUB) was maintained as Outperform but the target price was cut to $60 from $63 (versus a $51.69 close) at Wedbush. While it will win from the secular shift to digital in takeout and delivery, a number of risks (including hurricane impact) are likely to impact the third quarter.

Habit Restaurants Inc. (NASDAQ: HABT) was downgraded to Neutral from Outperform and the price target was cut to $14 from $19 (versus a $13.05 close) at Wedbush.

PNC Financial Services Group Inc. (NYSE: PNC) was downgraded to Hold from Buy but the price target was raised to $136 from $130 (versus a $133.52 close) at Deutsche Bank.

Shake Shack Inc. (NYSE: SHAK) was downgraded to Neutral from Outperform and the price target was lowered to $36 from $40 (versus a $33.27 close) at Wedbush. The firm noted that pressure on fast casual remains and that it is expecting comparable sales to remain under pressure to the point that margin pressure is likely.

Total S.A. (NYSE: TOT) was downgraded to Sector Perform from Outperform at RBC Capital markets.

Westlake Chemical Corp. (NYSE: WLK) was raised to Buy from Neutral and its target price was raised to $98 from $77 at Instinet.

World Fuel Services Corp. (NYSE: INT) was downgraded to Underperform from Neutral at Merrill Lynch. Its shares were indicated to open down 1.5% at $36.18 on Tuesday.

Macquarie started the airline sector with a mostly neutral stance. Southwest Airlines Co. (NYSE: LUV) was started as Outperform with a $62 price target, but American Airlines Group Inc. (NASDAQ: AAL), Jetblue Airways Corp. (NASDAQ: JBLU), Spirit Airlines Inc. (NASDAQ: SAVE) and United Continental Holdings Inc. (NYSE: UAL) were assigned Neutral ratings. Delta Air Lines Inc. (NYSE: DAL) and Alaska Air Group Inc. (NYSE: ALK) were given Outperform ratings.

Monday’s top analyst calls included Albermarle, Blue Apron, Box, Dish Network, General Motors, Transocean, Under Armour and many more.