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Top Analyst Upgrades and Downgrades: Aetna, Analog Devices, Lowe's, Merck, Pfizer, Plug Power, Qualcomm, Target and More

La-Z-Boy Inc. (NYSE: LZB) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets, a day after shares rose 13% to $37.45 and after hitting a split-adjusted all-time high of $39.15.

Lowe’s Companies Inc. (NYSE LOW) was reiterated as Buy and the price target was raised to $126 from $113 at Merrill Lynch. UBS maintained its Buy rating but raised its target to $120 from $115, and KeyBanc Capital Markets maintained its Overweight rating while raising its target to $125 from $115. At Citigroup, Lowe’s was maintained as Neutral but with a target hike to $112 from $99. Wells Fargo reiterated its Outperform rating and raised its target to $120 from $110. Shares closed up almost 6% at $105.52 on Wednesday, and the prior consensus target price was $115.38.

Merck & Co. Inc. (NYSE: MRK) was reiterated as Overweight and the price target was raised to $74 from $68 at Morgan Stanley. Merrill Lynch also included it along with a major pharmaceutical sector upgrade on Wednesday.

On Deck Capital Inc. (NYSE: ONDK) was started with a Buy rating and assigned a $14 price target (versus an $8.76 close) at B. Riley.

Pfizer Inc. (NYSE: PFE) was reiterated as Overweight and the price target was raised to $45 from $43 at Morgan Stanley. Barclays maintained it as Equal Weight and raised the price target to $40 from $38. Merrill Lynch also included Pfizer among a major pharma upgrade on Wednesday.

Plug Power Inc. (NASDAQ: PLUG) was started with an Outperform rating and assigned a $2.50 price target (versus a $1.95 close) at Oppenheimer. Plug Power has a small following with a consensus analyst target of $3.54 and a 52-week range of $1.53 to $3.21.

PPL Corp. (NYSE: PPL) was started as Neutral with a $43 price target at Citigroup.

Qualcomm Inc. (NASDAQ: QCOM) was reiterated as Buy and the price target was raised to $88 from $81 (versus a $66.84 close) at Canaccord Genuity. The 52-week range is $48.65 to $69.28. The consensus target price is $68.55.

Target Corp. (NYSE: TGT) was maintained as Hold but the target price was raised to $93 from $85 (versus an $85.94, after a 3.2% gain close) at Stifel. Barclays maintained it as Equal Weight and raised the price target to $90 from $70, and UBS maintained its Neutral rating while raising its target to $90 from $85.

WMIH Corp. (NASDAQ: WMIH) was started with an Outperform rating and assigned a $1.90 price target (versus a $1.57 close) at Wedbush Securities.

Wednesday’s top analyst upgrades and downgrades included AT&T, CenturyLink, MercadoLibre, Netflix, Starbucks, Tiffany, TJX Companies, YRC Worldwide and many more.

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