Top Analyst Upgrades and Downgrades: Chesapeake, CME, Constellation, Dominion Energy, EA, Gap, Netflix, Starbucks, Viacom, Yum, Zynga and More

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Northern Trust Corp. (NASDAQ: NTRS) was downgraded to Neutral from Buy at Merrill Lynch.

Okta Inc. (NASDAQ: OKTA) was started as Overweight and assigned an $80 target price (versus a $68.84 close) at Piper Jaffray. The consensus target price is $76.06.

PulteGroup Inc. (NYSE: PHM) was started with a Neutral rating and given a $30 target price at Buckingham Research. RBC Capital Markets downgraded it to Underperform from Sector Perform.

Starbucks Corp. (NASDAQ: SBUX) was downgraded to Underperform from Neutral and the target price was lowered to $68 from $75 at Goldman Sachs. The firm feels that Starbucks will be the next big company after Apple to warn about its business in China hurting overall results. The stock closed up 0.5% at $64.19 ahead of the call but was indicated down almost 3% at $62.38 after the downgrade, and its consensus target price was $68.64. Shares have traded between $47.37 and $68.98 in the past year.

Sunoco L.P. (NYSE: SUN) was downgraded to Underperform from Neutral at Merrill Lynch.

Take-Two Interactive Software Inc. (NASDAQ: TTWO) was started with an Overweight rating and assigned a $138 target price (versus a $110.00 close) at Stephens.

Texas Roadhouse Inc. (NASDAQ: TXRH) was raised to Buy from Neutral and the target price was raised to $72 from $64 (versus a $64.33 close) at Goldman Sachs.

Toll Brothers Inc. (NYSE: TOL) was started with a Neutral rating at Buckingham Research.

Viacom Inc. (NASDAQ: VIA) was raised to Outperform from In-Line with a $37 price target (versus a $32.36 close) at Imperial Capital. Viacom has a 52-week range of $27.01 to $40.64.

VMware Inc. (NYSE: VMW) was reinstated as Neutral with a $160 target price at Credit Suisse. The firm still sees some positives but also sees risk/reward more fairly balanced at current valuations.

Weight Watchers International Inc. (NYSE: WTW) was downgraded to Neutral from Overweight at JPMorgan.

Yum! Brands Inc. (NYSE: YUM) was downgraded to Sell from Neutral and the target price was lowered to $76 from $83 at Goldman Sachs. After closing up 0.7% at $91.79 on Thursday, the stock was indicated down 2.2% at $89.76 on Friday. Its consensus target price was $95.00.

Zscaler Inc. (NASDAQ: ZS) was started with an Overweight rating and assigned a $50 target price (versus a $45.41 close) at Piper Jaffray. The consensus target price is $44.04, and the 52-week range is $24.76 to $48.24.

Zynga Inc. (NASDAQ: ZNGA) was started with an Equal Weight rating at Stephens.

Foundation Building Materials (NYSE: FBM) and BMC Stock Holdings Inc. (NASDAQ: BMC) both were started with Neutral ratings at Credit Suisse. Despite positive company-specific factors in margin expansion and high free cash flows, the firm sees moderating housing activity and an uncertain macro backdrop to leave the stocks range-bound.

The World Gold Council, which is by its nature and target industry is supposed to be positive about the prospects of gold, issued a very convoluted outlook with the market turmoil and uncertainties clouding its outlook for gold in 2019.

Thursday’s top analyst calls included Bed Bath & Beyond, Boeing, Constellation Brands, Dell Technologies, Dollar General, Lockheed Martin, National Oilwell Varco, Snap, Twitter, Yelp and many more.

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