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Top Analyst Upgrades and Downgrades: AutoZone, Glaukos, Itron, Leidos, Lowe's, Salesforce, Shopify, Toyota and More

Intelsat S.A. (NYSE: I) was raised to Neutral from Underweight at JPMorgan. Shares closed up 7.5% at $4.84 on Wednesday, in a 52-week trading range of $2.44 to $7.47.

Itron Inc. (NASDAQ: ITRI) was raised to Outperform from Market Perform with an $84 price target (versus a $70.00 close) at Cowen. It was last seen indicated up 5% at $73.50 after beating earnings expectations.

Leidos Holdings Inc. (NASDAQ: LDOS) was already rated as Buy at Goldman Sachs, but the firm added the stock to its prized Conviction Buy list and the target price is $100. Leidos closed down 2.9% at $63.31 on Wednesday and shares were indicated up 0.3% at $63.50 on Thursday morning.

Lowe’s Companies Inc. (NYSE: LOW) was maintained as Neutral with an $85 target price at Wedbush Securities. The shares closed down 6.5% at $89.59 on Wednesday after posting very disappointing earnings numbers that signaled it is not really making up ground against Home Depot.

OneMain Holdings Inc. (NYSE: OMF) was raised to Buy from Neutral with a $39 price target (versus a $30.66 close) at Janney.

Pegasystems Inc. (NASDAQ: PEGA) was reiterated as Outperform with a $73 price target (versus a $58 close) at Wedbush. The call sees robust ACV growth as it sees strong execution capabilities, product differentiation and proven ability to prosper in a variety of economic environments.

Salesforce.com Inc. (NYSE: CRM) was down 0.2% at $116.25 ahead of earnings and was last seen up 3.2% at $120.00 (above the prior all-time high of $118.15 set the previous day) after earnings. It was reiterated as Buy and the price target was raised to $140 from $120 at Mizuho.

Shopify Inc. (NYSE: SHOP) was removed from the Best Ideas List at Wedbush, but the move was said to be due to an analyst departure. Shopify closed up 0.4% at $138.21 on Wednesday.

Tempur Sealy International Inc. (NYSE: TPX) was maintained as Outperform with a $65 price target (versus a $49.43 close) at Wedbush. The call is that Tempur Sealy can increase its market share due to problems and closures at Mattress Firm.

Toyota Motor Corp. (NYSE: TM) was raised to Neutral from Underperform at Merrill Lynch.

Twilio Inc. (NYSE: TWLO) was started as Buy with a $45 price objective (versus a $34.16 close) at Merrill Lynch. The leader in CPaaS is expected to grow to $1 billion in revenues out in 2021, about 150% growth over 2017.

United Rentals Inc. (NYSE: URI) was reiterated as Buy with a $230 price objective (versus a $175.09 close) at Merrill Lynch. The company is expected to win from technology companies spending so much on new facilities and new projects, and it may even be a winner from Amazon’s second headquarters as its fleet is already tight and has pricing power.

Weingarten Realty Investors (NYSE: WRI) was raised to Buy from Neutral and the price objective was raised to $32 from $31 (versus a $27.13 close) at Merrill Lynch.

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Jefferies has five earnings winners expected to raise dividends in 2018.

Wednesday’s top analyst calls included Celgene, Chevron, Exxon Mobil, Frontier Communications, JPMorgan, Lam Research, Procter & Gamble, Square, Workday and many more.

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