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Top Analyst Upgrades and Downgrades: Apple, Caterpillar, Costco, GW Pharma, NXP, Southwest Air, Teva, Ulta, Wells Fargo and More

NXP Semiconductors N.V. (NASDAQ: NXPI) was started as Outperform with a $111 price target (versus a $93.98 close) at Cowen.

Palo Alto Networks Inc. (NYSE: PANW) was down 0.8% at $220.37 ahead of earnings on Thursday and shares were indicated up over 6% at $234.00 in Friday’s post-earnings reaction. Morgan Stanley reiterated it as Overweight and raised the price target to $262 from $240. UBS reiterated its Neutral rating on valuation but still raised its target to $232 from $212. Barclays reiterated its Overweight rating and raised its target from $245 to $263.

Rowan Companies PLC (NYSE: RDC) was raised to Buy from Neutral at Citigroup. Rowan closed down over 2% at $14.19 on Thursday, in a 52-week range of $9.67 to $17.33 and with a consensus target price of $16.00.

Salesforce.com Inc. (NYSE: CRM) was reiterated as Overweight and the price target was raised to $172 from $165 (versus a $148.83 close) at Barclays. Salesforce.com recently saw a wave of analysts hiking their price targets higher, but its 52-week and all-time high is $154.97.

Shire PLC (NASDAQ: SHPG) was downgraded to Hold from Buy at Berenberg.

Southwest Airlines Co. (NYSE: LUV) was raised to Buy from Hold with a $73 price target (versus a $61.03 close) at Argus. Shares were indicated up 0.7% at $61.50 on Friday, in a 52-week range of $49.93 to $66.99 and with a consensus analyst target of $66.57.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Neutral from Outperform with a $23 price target (versus a $21.75 close) at Credit Suisse. The consensus target price is $20.83, and the 52-week range is $10.85 to $25.96.

T. Rowe Price Group Inc. (NASDAQ: TROW) was downgraded to Hold from Buy at Deutsche Bank. The shares were down 1.1% at $113.26 on Thursday and were indicated down about 1% more at $112.00 on Friday.

Ulta Beauty Inc. (NASDAQ: ULTA) was reiterated as Buy and the price target was raised up to $315 from $285 (versus a $275.66 close) at UBS.

Vale S.A. (NYSE: VALE) was raised to Buy from Hold at Jefferies.

Wells Fargo & Co. (NYSE: WFC) was downgraded to Neutral from Outperform at Macquarie.

Xilinx Inc. (NASDAQ: XLNX) was started as Market Perform with an $81 price target (versus a $78.04 close) at Cowen.

Zogenix Inc. (NASDAQ: ZGNX) was started with a Buy rating and assigned a $116 price target (versus a $45.65 close, after a 6% drop) at B. Riley. Its shares were indicated up over 3% at $47.10 on Friday after the “more than double” analyst call.

Thursday’s top analyst upgrades and downgrades included Chevron, First Data, JD.com, MongoDB, PG&E, Rite Aid, Tilray, Vodafone and many more.