Top Analyst Upgrades and Downgrades: Albermarle, American Airlines, Ellie Mae, Johnson & Johnson, Mallinckrodt, Mylan, NetApp, Southwest Air and More

Fastenal Co. (NASDAQ: FAST) was reiterated as Buy with a $62 price target at Argus, with the independent research firm noting that the recent weakness offers a buying opportunity, along with a dividend hike and confident outlook.

FMC Corp. (NYSE: FMC) was raised to Outperform from Market Perform at BMO Capital Markets.

Hershey Co. (NYSE: HSY) was started as Neutral with a $99 price target at Piper Jaffray.

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Johnson & Johnson (NYSE: JNJ) was reiterated as Outperform with a $154 price target at Credit Suisse. The firm remains bullish despite weakness since the last earnings report and 2018 guidance. It also sees further room for upside.

Leap Therapeutics Inc. (NASDAQ: LPTX) was up 1.7% at $9.71 on Wednesday and was up 3.5% at $10.05 on Thursday. H.C. Wainwright started it as Buy and assigned a $12.50 target price.

Mallinckrodt PLC (NYSE: MNK) was started with a Hold rating at SunTrust Robinson Humphrey.

MDC Partners Inc. (NASDAQ: MDCA) was raised to Outperform from Market Perform at Wells Fargo.

Mylan N.V. (NASDAQ: MYL) was raised to Outperform from Market Perform at Leerink. The stock closed down 2.7% at $40.39 on Wednesday and was indicated up 1% at $40.80 on Thursday. The 52-week range is $29.39 to $47.82, and the consensus target price is $49.95.

NetApp Inc. (NASDAQ: NTAP) was reiterated as Buy and the price target was raised to $76 from $66 (versus a $66.14 close) at Argus. The firm noted that NetApp is being aggressive in its own operating and capital goals with a more cost-efficient structure while delivering higher growth and returns to shareholders. Shares closed at $66.14 on Wednesday and were indicated up 1.5% at $67.10, with a 52-week range of $37.43 to $66.79 and a consensus target price of $69.36.

PNM Resources Inc. (NYSE: PNM) was raised to In-Line from Underperform at Evercore ISI. It closed at $37.50 and has a 52-week range of $33.75 to $46.00.

Prologis Inc. (NYSE: PLD) was raised to Buy from Hold at Jefferies. Shares closed at $61.62 and have a 52-week range of $52.98 to $67.53.

Puma Biotechnology Inc. (NASDAQ: PBYI) was downgraded to Equal Weight from Overweight at Barclays.

Southwest Airlines Co. (NYSE: LUV) was maintained as Overweight but the price target was cut to $69 from $72 at Morgan Stanley. Its shares closed down almost 1.2% at $53.50 on Wednesday, in a 52-week range of $49.76 to $66.99. Southwest had a consensus target price of $72.37.

Check out the six most shorted NYSE stocks and the six most shorted Nasdaq stocks.

Wednesday’s top analyst calls were in shares of Agilent, Alphabet, Amazon, Apple, Citigroup, Facebook, JPMorgan, Mattel, Netflix and many more.

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