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Top Analyst Upgrades and Downgrades: Bed Bath & Beyond, Boeing, Constellation, Dell, Dollar General, Lockheed Martin, NOV, Snap, Twitter, Yelp and More

MarketAxess Holdings Inc. (NASDAQ: MKTX) was started with a Neutral rating at Buckingham Research.

Meritage Homes Corp. (NYSE: MTH) was downgraded to Neutral from Outperform at Wedbush, with the valuation downgrade coming as the stock had achieved its $41 price target.

National Oilwell Varco Inc. (NYSE: NOV) was started as Overweight and assigned a $35 target price at Stephens. The consensus target price is $36.62, and the 52-week trading range is $24.27 to $49.08.

PebbleBrook Hotel Trust (NYSE: PEB) was started with a Sell rating and assigned a $26 price target (versus a $29.99 close) at Goldman Sachs.

Ship Finance International Ltd. (NYSE: SFL) was started with a Neutral rating at B. Riley.

Snap Inc. (NYSE: SNAP) was raised to Market Perform from Underperform with a $6 price target (versus a $6.28 close) at Cowen. Merrill Lynch maintained its Neutral rating, noting that Snapchat data continues to suggest few signs of a turnaround and also a loss of market share to Instagram. Snap’s 52-week range is $4.82 to $21.22, and the consensus target price was $8.15.

Trimble Inc. (NASDAQ: TRMB) was raised to Overweight from Neutral but the target price was lowered to $40 from $41 at JPMorgan. The prior consensus target price was $44.11.

Twitter Inc. (NYSE: TWTR) was raised to Buy from Underperform with a $39 price objective at Merrill Lynch. The firm noted that Twitter continues to have modest improvement in reported usage ratios (while churn remains elevated) with growing penetration metrics and usage intentions giving more potential upside to estimates versus peers.

United Continental Holdings Inc. (NYSE: UAL) was raised to Overweight from Neutral with a $95 target price (versus an $83.76 close) at JPMorgan.

Verint Systems Inc. (NASDAQ: VRNT) was started with a Buy rating and assigned a $53 price target (versus a $43.98 close) at Jefferies.

WABCO Holdings Inc. (NYSE: WBC) was downgraded to Underweight from an already cautious Neutral rating at JPMorgan.

Weatherford International PLC (NYSE: WFT) was downgraded to Market Perform from Outperform and the price target was slashed to $1.00 from $2.50 at BMO Capital Markets. The prior close was $0.55, and the 52-week trading range is $0.22 to $4.41.

Wix.com Ltd. (NASDAQ: WIX) was reiterated as Outperform with a $130 target price (versus a $98.02 close) and was added to the Best Ideas List at Wedbush. The firm sees multiple catalysts leading it to be the top pick from the coverage universe in 2019 combined with what it viewed as a well-placed strategic long-term positioning.

Yelp Inc. (NYSE: YELP) was downgraded to Underweight from Equal Weight and the target price was lowered to $29 from $31 (versus $35.70 close) at Morgan Stanley. The consensus target price was $37.55.

Wednesday’s top analyst calls included Adobe, Autodesk, Bank of America, Cleveland-Cliffs, Deere, Facebook, Freeport-McMoRan, Nike, Tilray and many more.

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