Top Analyst Upgrades and Downgrades: Alibaba, Amazon, AVEO, Baker Hughes, Celgene, DowDuPont, Facebook, GE, Goldman Sachs, US Steel and More

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Del Taco Restaurants Inc. (NASDAQ: TACO) was maintained as Outperform with a $15 target price (versus a $10.39 close) at Wedbush, but the firm removed the restaurant chain from its Best Ideas List.

Dine Brands Global Inc. (NYSE: DIN) was started with an Outperform rating and assigned a $120 price target (versus a $76.99 close) at Wedbush, which noted that channel checks show upside at both Applebee’s and IHOP.

DowDuPont Inc. (NYSE: DWDP) was downgraded to Neutral from overweight with a $53 target price (versus a $53.81 close, after a 9.2% drop) at JPMorgan. Credit Suisse maintained its Outperform rating but lowered its price target to $68 from $79. The consensus target price was $72.63, and a 52-week trading range is $48.89 to $74.12.

Facebook Inc. (NASDAQ: FB) was reiterated as Buy with a $206 target price at Argus, which noted that it leads the social media despite all the negative press and concerns brought up in 2008. Facebook shares closed up 10.8% at $166.69 on Thursday after the earnings report, and it has a 52-week range of $123.02 to $218.62.

Floor & Decor Holdings Inc. (NYSE: FND) was downgraded to Underperform from Buy with a $29 price objective at Merrill Lynch, a two-notch downgrade based on slowing housing trends and on slowing sales growth.

General Electric Co. (NYSE: GE) was downgraded to Hold from Buy with an $11 price target at Vertical Research. GE shares closed up 11.6% at $10.16 on Thursday after earnings contained no new negative bombs that investors had been used to seeing. Credit Suisse maintained its Neutral rating but raised its target to $11, after noting that the conglomerate is keeping its message consistent.

Goldman Sachs Group Inc. (NYSE: GS) was downgraded to Sell from Hold at Societe Generale. Shares were down 2.2% at $198.01 on Thursday and indicated down almost 1% more on Friday. The consensus analyst target is $229.00.

Manpower Inc. (NYSE: MAN) was downgraded to Market Perform from Outperform with an $81 price target (versus a $79.03 close) at BMO Capital Markets.

Meritage Homes Corp. (NYSE: MTH) was downgraded to Market Perform from Outperform at JMP Securities. The firm fears that the focus on driving sales volume via lower prices and consumer incentives, while the competition wants to do the same, points to potentially more downside than upside risk to earnings and revenue estimates ahead.

Morgan Stanley (NYSE: MS) was downgraded to Sell from Hold at Societe Generale. Shares closed down 1.1% at $42.30 on Thursday with a consensus target price of $51.76.

Northrop Grumman Corp. (NYSE: NOC) was reiterated as Buy at Argus, with the firm noting that the recent share price pullback offers a buying opportunity as shares are down about 24% from their highs. The stock closed down 1.9% at $275.55 ahead of this call, and the consensus price target is $317.05.

Raytheon Co. (NYSE: RTN) was reiterated as Buy with a $200 price target (versus a $164.76 close, after a 3.9% drop) at Argus, with the firm noting that the defense player is on sale, with its shares down about 28% from its highs. The consensus target price is $207.89.

United States Steel Corp. (NYSE: X) was reiterated as Buy at Argus, but the firm did lower its price target to $30 from $40. U.S. Steel had a consensus target price of $30.88, and its shares closed up 1.4% at $22.54 ahead of this call.

Versum Materials Inc. (NYSE: VSM) was raised to Neutral from Sell with a $31 price target (versus a $36.77 close) at Goldman Sachs.

Thursday’s top analyst calls included Allergan, Boeing, Facebook, GoPro, Microsoft, Pfizer, Royal Dutch Shell, ServiceNow, Tiffany and many more.

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