Top Analyst Upgrades and Downgrades: Amgen, Boeing, Chevron, Exxon, Foot Locker, Lowe’s, Nokia, PayPal, Sprint, Wells Fargo and More

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Infosys Ltd. (NYSE: INFY) was downgraded to Negative from Neutral with a $13 price target (versus a $17.75 close) at Susquehanna.

Kellogg Co. (NYSE: K) was started with a Buy rating and assigned an $80 price target (versus a $65.45 close) at Pivotal Research.

Lowe’s Companies Inc. (NYSE: LOW) was raised to Buy from Hold with a $129 price target (versus a $101.50 close) at Jefferies.

MBIA Inc. (NYSE: MBI) was started as Market Perform with a $7 price target (versus a $7.24 close, after a 3.5% drop) at Keefe Bruyette & Woods. MBIA has a 52-week range of $6.04 to $10.89.

Michael Kors Holdings Ltd. (NYSE: KORS) was reiterated as Buy and the price target was raised to $81 at Canaccord Genuity.

Nokia Corp. (NYSE: NOK) was raised to Buy from Hold at Merrill Lynch, noting an attractive valuation and solid position heading into the coming 5G upgrade cycle. Merrill Lynch’s target rose to €5.25 from €4.50 (implying 19% upside from its €4.40 close). Nokia’s American depositary shares were flat on Friday at $5.40 and were indicated up 2.5% at $5.53 on Monday, in a 52-week range of $4.51 to $6.65.

Northrop Grumman Corp. (NYSE: NOC) was reiterated as Buy and the price target was raised to $375 from $335 at Argus.

Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH) was raised to Overweight from Neutral at JPMorgan.

PayPal Holdings Inc. (NASDAQ: PYPL) was raised to Outperform from Market Perform at Wells Fargo.

Prestige Brands Holdings Inc. (NYSE: PBH) was downgraded to Neutral from Buy at D.A. Davidson.

Redfin Corp. (NASDAQ: RDFN) was raised to Outperform from Sector Perform with a $28 price target (versus a $19.76 close) at RBC Capital Markets.

Sprint Corp. (NYSE: S) was raised to Sector Weight from Underweight at KeyBanc Capital Markets. Sprint shares closed up 5.1% on Friday despite the market sell-off, and it has a 52-week trading range of $4.91 to $9.44.

Symantec Corp. (NASDAQ: SYMC) took multiple downgrades last week, even after many targets had been cut ahead of earnings. FBN Securities has maintained its Outperform rating on Symantec, but the firm lowered its price target to $33 from $35.

Union Pacific Corp. (NYSE: UNP) was reiterated as Buy at Argus, with the independent research firm noting that the recent sell-off offers a buying opportunity. After closing down 2.3% at $129.36, its shares were down from a 52-week high of $143.05.

Unitil Corp. (NYSE: UTL) was reiterated as Buy with a $50 fair value estimate (versus a $43.44 close) at Janney.

Wells Fargo & Co. (NYSE: WFC) was down 2.2% at $64.07 on Friday’s sell-off, but the regulatory size limit rules and penalties had shares down about 6.5% at $59.90 on Monday. Citigroup downgraded Wells Fargo to Neutral from Buy. BMO maintained its Market Perform rating but lowered its target to $62 from $60. Morgan Stanley downgraded the stock to Underweight from Overweight. Credit Suisse maintained its Neutral rating and $65 target price.

Xerox Corp. (NYSE: XRX) was raised to Buy from Neutral with a $38 price target (versus a $31.63 close) at UBS.

Merrill Lynch’s technical team was the one noting a near-term bearish and way overbought trend last Thursday morning, and the firm has said that its view over the weekend was still tactically bearish, and it sees the next support levels on the S&P 500 at 2,715 (the 50-day moving average) and then down at 2,696 to 2,673.

Friday’s top analyst calls were in Alibaba, Alphabet, Amazon.com, Amgen, Apple, Mastercard, Nokia, Shopify, U.S. Steel and over a dozen more.

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