Top Analyst Upgrades and Downgrades: BioMarin, CSX, Kinder Morgan, Microsemi, Splunk, US Steel, Walmart and More

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Microsemi Corp. (NASDAQ: MSCC) was last seen up 5% at $67.54 after news that Microchip Technology is acquiring it. Analysts have lowered their ratings to reflect the company being bought out. Downgrades have been seen from Deutsche Bank, Goldman Sachs, Stifel, Susquehanna, SunTrust Robinson Humphrey and other firms.

ONEOK Inc. (NYSE: OKE) was reiterated as Buy and the price target was raised to $72 from $70 (versus a $56.51 close) at UBS.

Oskosh Corp. (NYSE: OSK) was downgraded to Neutral from Outperform with a $90 price target (versus a $78.34 close) at Robert W. Baird.

Patterson Energy Group Inc. (NASDAQ: PEGI) was raised to Neutral from Underperform but the price objective was cut to $17 from $19 at Merrill Lynch.

Plains All American Pipeline L.P. (NYSE: PAA) was reiterated as Buy and the price target was raised to $27 from $25 (versus a $21.34 close) at UBS.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was reiterated as Buy with a $75 fair value estimate (versus a $62.11 close) at Janney.

Splunk Inc. (NASDAQ: SPLK) was last seen up 4.8% at $98.15 after strong earnings. Credit Suisse reiterated its Outperform rating and raised its target to $110 from $88. UBS reiterated its Buy rating and raised its target to $110 from $102, and Wells Fargo reiterated its Outperform rating and raised its target to $115 from $110.

Terex Corp. (NYSE: TEX) was downgraded to Neutral from Outperform with a $42 price target (versus a $40.03 close) at Robert W. Baird.

United States Steel Corp. (NYSE: X) was downgraded to Neutral from Buy at Merrill Lynch, but the firm raised its price objective to $50 from $47. The firm expects a backlash to the tariffs despite higher production coming from the company. U.S. Steel was up 5.75% at $46.01 on Thursday after the tariff announcement, but its shares were last seen down 2.3% at $44.95. The 52-week trading range is $18.55 to $47.64.

VMware Inc. (NYSE: VMW) was down 6.1% on Thursday and was indicated down another 2.7% at $120.20 on Friday morning. It was maintained as Outperform but the target price was cut to $138 from $142 at BMO Capital Markets.

Walmart Inc. (NYSE: WMT) was downgraded to Perform from Outperform at Oppenheimer. Shares closed down 1% at $89.08 on Thursday and were indicated down 1.3% at $87.85 on Friday. The 52-week range is $69.33 to $109.98.

Zions Bancorp (NASDAQ: ZION) was reiterated as Buy with a $60 price target (versus a $54.38 close) at Merrill Lynch.

Thursday’s top analyst calls included AutoZone, Glaukos, Itron, Leidos, Lowe’s, Salesforce.com, Shopify, Toyota and many more.

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