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Top Analyst Upgrades and Downgrades: AT&T, Boeing, Hilton, KB Home, Microsoft, Norfolk Southern, Pandora, UPS and More

Microsoft Corp. (NASDAQ: MSFT) managed to beat earnings yet again. Wedbush reiterated its Outperform rating and $140 price target.

NextEra Energy Partners L.P. (NYSE: NEP) was downgraded to Neutral from Buy with a $47 price objective at Merrill Lynch. The firm’s downgrade is after the latest rally and given updates to the portfolio to moderate long-term distributable cash flow value and 2019 guidance.

Norfolk Southern Corp. (NYSE: NSC) was raised to Buy from Hold with a $189 price target at Stifel. TD Securities also raised it to Buy from Hold.

Owens Corning (NYSE: OC) was raised to Overweight from Equal Weight but the price target was lowered to $58 from $62 at Barclays. This valuation call was after the shares closed down 9.6% at $42.95.

Pandora Media Inc. (NYSE: P) was downgraded to Neutral from Buy and the target price was lowered to $10 from $12 at Goldman Sachs.

PulteGroup Inc. (NYSE: PHM) was raised to Outperform from In-Line at Evercore ISI Group.

Ryder System Inc. (NYSE: R) was raised to Buy from Hold with a $78 target price at Loop Capital.

STMicroelectronics N.V. (NYSE: STM) was downgraded to Underperform from Outperform at Robert W. Baird, a day after it fell 13.8% to $13.69.

Switch Inc. (NYSE: SWCH) was raised to Outperform from Market Perform, but its target price was lowered to $11.50 from $13.50 at Wells Fargo. The stock closed up 1.7% at $8.99 on Wednesday and was indicated up 3.5% at $9.30 on Thursday.

Teradyne Inc. (NYSE: TER) was raised to Buy from Hold at Craig-Hallum, a day after its shares fell 6.1% to $30.23.

Thermo Fisher Scientific Inc. (NYSE: TMO) was reiterated as Buy with a $265 price target at Argus.

United Parcel Service Inc. (NYSE: UPS) was downgraded to Neutral from Buy with a $116 price objective at Merrill Lynch. The firm cited UPS’s margin pressures continuing to accelerate with International operations seeing added pressure.

Zumiez Inc. (NASDAQ: ZUMZ) was started with a Buy rating and assigned a $28 price target (versus a $21.92 close) at Jefferies.

Wednesday’s top analyst calls included Centene, Comcast, Concho Resources, PACCAR, STMicroelectronics, Tesla, United Natural Food and VF and many more.

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