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Top Analyst Upgrades and Downgrades: ADT, CBOE, Celgene, JPMorgan, 3M, NetApp, Total, Tyson Foods, Weatherford and More

Jon C. Ogg

Mimecast Ltd. (NASDAQ: MIME) was reiterated as Outperform and the price target was raised to $38 from $35 at Oppenheimer. BMO Capital markets also reiterated its Outperform rating and raised its target price to $38 from $35.

NetApp Inc. (NASDAQ: NTAP) was raised to Buy from Neutral with a $74 price objective (versus a $57.73 close) at Merrill Lynch. Loop Capital raised its rating to Buy from Hold with a $69 price target. NetApp closed up 2.8% at$57.73 on Monday and was indicated up 3.2% at $59.60 on Tuesday.

Nine Energy Service Inc. (NYSE: NINE) was started as Outperform with a $29 price target at Credit Suisse. Wells Fargo started it as Outperform with a $33 price target, and Piper Jaffray started it as Overweight with a $35 price target. Shares closed at $23.50 on Monday.

Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) was reiterated as Outperform and the price target was raised to $11 from $9 at Oppenheimer.

Quest Diagnostics Inc. (NYSE: DGX) was raised to Outperform from Neutral and the price target was raised to $118 from $107 at Credit Suisse.

Ra Pharmaceuticals Inc. (NASDAQ: RARX) was maintained as Outperform but the price target was cut to $14 from $16 at Credit Suisse. This is after the firm noted that the Phase 2 PNH update was similar to prior data.

RingCentral Inc. (NYSE: RNG) was reiterated as Outperform and the price target was raised to $66 from $60 (versus a $53.35 close) at Oppenheimer.

ServiceNow Inc. (NYSE: NOW) was reiterated as Buy and the target price was raised to $170 from $150 (versus a $147.24 close) at Argus. The firm raised its 2018 estimates and set a new 2019 earnings target of $3.01 per share, and it noted that ServiceNow shares are favorably valued by historical standards, with a solid revenue and profit outlook over the next few years underpinning valuation.

Statoil ASA (NYSE: STO) was raised to Equal Weight from Underweight at Morgan Stanley.

Total S.A. (NYSE: TOT) was raised to Overweight from Equal Weight at Morgan Stanley. Raymond James raised Total to Strong Buy from Outperform.

Tyson Foods Inc. (NYSE: TSN) was reiterated as Buy at Argus, and the firm has a $90 price target (versus a $74.53 close). Numerous issues were cited favorably: range of food businesses provides an advantage over competitors; growing demand for beef, chicken, pork and turkey; to benefit from the Hillshire Brands and AdvancePierre acquisitions; and even debt reduction and dividend hikes.

Varonis Systems Inc. (NASDAQ: VRNS) was reiterated as Outperform and the price target was raised to $60 from $57 at Oppenheimer.

Weatherford International PLC (NYSE: WFT) was downgraded to Equal Weight from Overweight with a $3.50 price target (versus a $2.86 close) at Barclays.

Xcel Energy Inc. (NASDAQ: XEL) was raised to Overweight from Equal Weight at Morgan Stanley.

Wedbush has added Activision Blizzard Inc. (NASDAQ: ATVI) and Regions Financial Corp. (NYSE: RF) to its Best Ideas List for 2018. Activision’s new investments have the potential to significantly expand its margins and profits for the next several years, according to Wedbush. The firm believes that Region Financial’s hard work to reposition the balance sheet was reflected in the solid earnings results and sets the stage for stronger growth in 2018.

Monday’s top analyst calls were in American Express, Cisco, First Solar, Goldman Sachs, Nasdaq, Shopify, SunPower, Workday and many more.