Top Analyst Upgrades and Downgrades: Abercrombie, Exxon, Etsy, GameStop, Kraft Heinz, Netflix, Tilray, Vodafone and More

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Kraft Heinz Co. (NASDAQ: KHC) was reiterated as Underperform at Credit Suisse, with the firm noting that it was lowering fiscal 2019 and fiscal 2020 earnings based on higher depreciation expenses.

Life Storage Inc. (NYSE: LSI) was downgraded to Underperform from Neutral and the price objective was lowered to $99 from $105 (versus a $95.55 close) at Merrill Lynch.

MercadoLibre Inc. (NASDAQ: MELI) was downgraded to Negative from Neutral at Susquehanna. The stock closed down 2.2% at $451.15 on Thursday and was indicated down another 2.7% at $439.00 on Friday. The consensus target price is $420.75.

National Beverage Corp. (NASDAQ: FIZZ) was downgraded to Sell from Neutral at Guggenheim. Its shares were down 19.4% at $55.00 on Friday morning after poor earnings.

Netflix Inc. (NASDAQ: NFLX) was downgraded to Neutral from Buy and with a $382 target (versus a $352.60 close) at Buckingham Research. Netflix has a consensus target price of $383.15.

PNM Resources Inc. (NYSE: PNM) was raised to Neutral from Underperform at Mizuho.

PPL Corp. (NYSE: PPL) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Rowan Companies PLC (NYSE: RDC) was raised to Buy from Hold at HSBC. It closed down 1.7% at $11.37 and was indicated down 0.6% at $11.30 on Friday.

SeaWorld Entertainment Inc. (NYSE: SEAS) was raised to Outperform from Neutral at Macquarie. Shares closed down 3.6% at $26.03 on Thursday and were indicated up just 0.3% at $26.10 on Friday.

Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) was downgraded to Neutral from Buy at Merrill Lynch. Its American depositary shares closed down 2.3% at $37.64 on Thursday and were indicated down 1.9% at $36.92 on Friday, with a consensus target price of $50.69.

Splunk Inc. (NASDAQ: SPLK) was reiterated as Buy and the price target was raised to $156 (versus a $123.33 close) at Argus, which noted the strong results. The consensus target price is $151.54.

Tandem Diabetes Care Inc. (NASDAQ: TNDM) was started as Outperform and assigned a $77 target price (versus a $61.78 close) at BMO Capital Markets. The consensus target price was $67.27 ahead of the call.

Tilray Inc. (NASDAQ: TLRY) was started with an Underperform rating and assigned a $61 price target (versus a $69.72 close) at Jefferies, with the firm noting that it has a hard time justifying its current valuation. Tilray was indicated down 6% at $65.50 after the call.

Vodafone Group PLC (NASDAQ: VOD) was downgraded to Neutral from Outperform at BNP Paribas. The American depositary shares closed up 0.3% at $17.69 on Thursday and were indicated up 1% at $17.87 on Friday.

Wageworks Inc. (NYSE: WAGE) was raised to Outperform from Market Perform and the price target was raised to $65 from $45 (versus a $27.70 close, after a 3.4% drop) at Wells Fargo. It has a 52-week range of $25.15 to $56.80.

W&T Offshore Inc. (NYSE: WTI) was started with a Buy rating and assigned a $10 price target (versus a $4.94 close) at Stifel. The 52-week range is $3.62 to $9.88.

Thursday’s top analyst calls included Abercrombie & Fitch, BHP, Coca-Cola, Monster Beverage, Procter & Gamble, Rio Tinto, Toll Brothers and many more.

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