Top Analyst Upgrades and Downgrades: Apptio, AT&T, Bain Capital, Comerica, First Solar, Palo Alto, Pfizer, Travelers, Ulta Beauty and More

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Palo Alto Networks Inc. (NYSE: PANW) was started with a Buy rating and assigned a $256 target price (versus a $179.24 close) at Guggenheim. Palo Alto had a consensus target price of $248.15, and its 52-week trading range is $142.67 to $239.50.

Pfizer Inc. (NYSE: PFE) was downgraded to Neutral from Overweight with a $46 price target at JPMorgan. Pfizer has a consensus analyst target of $44.59 and a 52-week range of $33.20 to $46.47.

Proofpoint Inc. (NASDAQ: PFPT) was started with a Buy rating and assigned a $110 price target (versus a $92.46 close) at Guggenheim. The consensus target price is $117.40. The 52-week trading range is $75.92 to $130.27.

Progressive Corp. (NYSE: PGR) was raised to Buy from Neutral with an $81 price target (versus a $63.65 close) at B. Riley FBR. The consensus target price is $74.50.

Principal Financial Group Inc. (NYSE: PFG) was downgraded to Sector Perform from Outperform with a $49 price target (versus a $42.93 close, after a 3.3% drop) at RBC Capital Markets.

Sanofi (NYSE: SNY) was raised to Buy from Hold at Jefferies. Its American depositary shares closed up 1.6% at $44.17 on Monday and were indicated up another 1.5% at $44.80 on Tuesday, compared with a consensus target price of $48.67.

Travelers Companies Inc. (NYSE: TRV) was downgraded to Sector Perform from Outperform with a $133 target price (versus a $123.00 close) at RBC Capital Markets. Travelers has a consensus target price of $137.00.

Tribune Media Co. (NYSE: TRCO) was downgraded to In-Line from Outperform with a $46.50 price target (versus a $45.15 close) at Evercore ISI Group.

Ulta Beauty Inc. (NASDAQ: ULTA) was maintained as Outperform at Oppenheimer, but the firm lowered the price target to $340 from $375 in the call. Shares closed at $251.10 on Monday and had a consensus target price of $322.48.

United Natural Foods Inc. (NASDAQ: UNFI) was downgraded to Hold from Buy at Argus, a day after its shares fell 8% to $13.68. It had a consensus target price of $25.47, and its 52-week trading range is $13.64 to $52.55.

WEX Inc. (NYSE: WEX) was downgraded to Neutral from Buy and the price target was lowered to $167 from $205 (versus a $152.72 close) at Goldman Sachs. The consensus target price is $206.31, and the 52-week trading range is $128.27 to $203.50.

While stocks were indicated up on Tuesday, please do not ignore the dire warnings about many analyst calls during bear markets and broad sell-offs.

Also, here are the major Wall Street firms’ price targets for the S&P 500 for 2019.

Monday’s top analyst calls included Albermarle, Capital One, Equinix, KeyCorp, Kratos, Lowe’s, Micron Technology, Skyworks Solutions, Yamana Gold and many more.

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