Top Analyst Upgrades and Downgrades: Alkermes, Cigna, International Paper, Medtronic, Tesla, Western Digital and More

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Western Digital Corp. (NASDAQ: WDC) saw its price target raised at Cowen to $105 from $100, as the analysts feel the company can beat expectations and raise forward estimates when it reports earnings. The consensus price target for the hard disk drive maker is even higher at $116.39. The stock closed trading on Tuesday at $85.90.

Yelp Inc. (NASDAQ: YELP) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets. The 52-week trading range is $28.98 to $48.40, while the consensus price target is $49.72. The stock closed most recently at $44.11 a share.

Other key analysts upgrades and downgrades were seen in the following.

Ambarella Inc. (NASDAQ: AMBA) was downgraded to Perform from Outperform at Oppenheimer. The 52-week trading range is $40.06 to $66.23, and the consensus price target is $59.38. The shares ended trading on Tuesday at $49.39.

Ameren Corp. (NYSE: AEE) was raised to Equal Weight from Underweight at Morgan Stanley. The 52-week trading range is $51.89 to $59.79. The consensus price target is $60.32, and the stock closed Tuesday at $57.41.

Cleveland Cliffs Inc. (NYSE: CLF) was started with a Buy rating and an $11 price target at Citigroup. That compares with a consensus price target of $9.44. The shares ended trading on Tuesday at $8.29.

DCP Midstream L.P. (NYSE: DCP) was downgraded to Hold from Buy with a $42 price target at Stifel. The consensus price target for the company is $40.64, but the shares closed Tuesday at $41.10.

Inogen Inc. (NASDAQ: INGN) was started with a Sector Weight rating at KeyBanc Capital Markets. The 52-week trading range is $87.35 to $192, and the consensus price target is set at $184.60. The stock ended trading on Tuesday at $191.88.

Macy’s Inc. (NYSE: M) was downgraded to Neutral from Overweight at Atlantic Equities. The 52-week trading range for the venerable department store chain is $17.41 to $40.28. The consensus price target is set at $34.08, and the shares closed Tuesday at $40.05, up almost 8%. So this looks like a valuation call.

Perrigo Co. PLC (NASDAQ: PRGO) was downgraded to Equal Weight from Overweight at Barclays. The 52-week trading range is $63.68 to $95.93, and the consensus price target is $91.06. The stock closed Tuesday at $74.01.

Trimble Inc. (NASDAQ: TRMB) was removed from the Conviction Buy List at Goldman Sachs, but it remains rated Buy. The 52-week trading range is $32.01 to $45.70, and the consensus price target is $43.10. The stock closed Tuesday at $34.78.

In case you missed it, Tuesday’s top analyst upgrades and downgrades included First Solar, On Semiconductor, Occidental Petroleum, Palo Alto Networks, Twitter, Ulta Beauty and more.

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