Investing

Top Analyst Upgrades and Downgrades: AECOM, Ciena, Evoqua Water Tech, Funko, GlaxoSmithKline, Square and Many More

Allena Pharmaceuticals Inc. (NASDAQ: ALNA) was started as Buy with a $22 price target (versus a $13.13 close) at Jefferies. The firm sees a blockbuster drug potential for ALN-177 in enteric hyperoxaluria and it is modeling $624 million in peak-adjusted sales. Allena was started as Outperform with a $30 price target at Wedbush Securities, which also noted blockbuster drug potential with up to $3 billion in sales all the way out in 2026. Cowen started it with an Outperform rating, while Credit Suisse started it with an Outperform rating and assigned a $22 target price.

Altair Engineering Inc. (NASDAQ: ALTR) was started as Buy with a $28 price target at Deutsche Bank. It was started as Outperform at William Blair. Canaccord Genuity started it with a Hold rating and assigned a $25 price target. JPMorgan started it as Neutral with a $25 price target. The stock closed up 4% at $24.90 a share on Friday ahead of the quiet period expiration.

Appian Corp. (NASDAQ: APPN) was started as Outperform at William Blair, but this call is after a follow-on stock offering where the firm was in the syndicate. Appian closed at $21.16, in a 52-week range of $14.60 to $28.65.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) was downgraded to Neutral from Buy at UBS. Its shares were indicated down 0.6% at $145.00 on Monday after the downgrade.

Delphi Automotive PLC (NYSE: DLPH) was reiterated as Buy with a $118 price target (versus a $100.86 close) at Jefferies. The firm based the call on the pre-spin Aptiv & Delphi Technologies opportunities.

Invitation Homes Inc. (NYSE: INVH) was started as Outperform and assigned a price target of $25.50 (versus a $23.66 close) at Evercore ISI.

Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) was started as Outperform with a $19 target price (versus a $15.64 close) at Credit Suisse. The firm noted that its drug pipeline is positioned to drive longer-term upside.

Jacobs Engineering Group Inc. (NYSE: JEC) was reiterated as Buy (and maintained on the Focus List) and the price target was raised to $73 from $62 (versus a $63.29 close) at Argus. The firm sees the multiyear turnaround finally taking hold despite continued macroeconomic pressures and weakness in end markets.

Kimco Realty (NYSE: KIM) was downgraded to Neutral from Outperform and the price target was cut to $20 from $23 at Robert W. Baird.

Lowe’s Companies Inc. (NYSE: LOW) was raised to Outperform from Market Perform at Raymond James. It was indicated up 0.8% at $79.90, in a 52-week range of $69.92 to $86.25.

Norfolk Southern Corp. (NYSE: NSC) was started with a Sell rating and assigned a $120 price target (versus a $130.01 close) at Loop Capital.

SolarEdge Technologies (NASDAQ: SEDG) was downgraded to Hold from Buy at Deutsche Bank.

Spero Therapeutics Inc. (NASDAQ: SPRO) was started as Neutral with a $16 price objective at Merrill Lynch. Oppenheimer started the shares with an Outperform rating and assigned a $30 target price. Cowen started the stock with an Outperform rating, and Stifel started it as Buy with a $26 target price.

TerraForm Power Inc. (NASDAQ: TERP) was started as Neutral with a $13 price target (versus an $11.56 close) at Goldman Sachs. Its 52-week trading range is $10.99 to $14.50.

Zogenix Inc. (NASDAQ: ZGNX) was started as Market Perform at JMP Securities.

Jefferies has remained positive heading into year-end. The firm noted that the outlook for S&P 500 multinational revenues continues to brighten to make investing little bit easier going into year-end. The firm also noted that European macro data releases show no sign of slowing, while the dollar has failed to rally despite an imminent rate hike.

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