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Top Analyst Upgrades and Downgrades: Amazon, Aurora Cannabis, Cleveland-Cliffs, FedEx, Ferrari, Grubhub, Hexo, Proofpoint, Shutterfly, Starbucks and More

Grubhub Inc. (NYSE: GRUB) was reiterated as Outperform with a $100 target price (versus a $69.78 close) at Wedbush, with the firm noting that the earnings prove the sky isn’t falling and that investors should focus on the company’s reach and differentiation from competitors. The 52-week range is $63.31 to $149.35, and shares were indicated up 4.6% at $73.10 after the report. The consensus target price is $100.05.

Hexo Corp. (NYSEARCA: HEXO) was started with a Buy rating at Desjardins.

Lithia Motors Inc. (NYSE: LAD) was downgraded to Neutral from Buy at Merrill Lynch, a day after it rose almost 5% to $110.10 and hit a new high not seen since the start of 2018.

Medicines Co. (NASDAQ: MDCO) was raised to Buy from Neutral and the price target was raised to $55 from $25 (versus a $29.80 close) at Goldman Sachs. The stock was indicated up 6.3% at $31.67 after the post-earnings analyst call. Its 52-week range is $16.69 to $41.57, but the consensus target price was already at $50.36.

Proofpoint Inc. (NASDAQ: PFPT) was up 3% at $131.32 ahead of earnings but traded down 4.4% at $125.50 in early Friday trading. Wedbush reiterated it as Outperform with a $138 price target, as the firm sees tailwinds building with solid visibility and raised guidance.

Reliance Steel & Aluminum Co. (NYSE: RS) was downgraded to Hold from Buy at Jefferies. Shares closed at $91.34, in a 52-week range of $68.62 to $97.41. The consensus target price is $92.11.

Shutterfly Inc. (NASDAQ: SFLY) was raised to Outperform from Market Perform with a $56 target price (versus a $42.21 close) at Raymond James. Shares were indicated up 8% at $45.75 on Friday morning.

Starbucks Corp. (NASDAQ: SBUX) was up 0.9% at $77.11 ahead of earnings and was indicated down 0.3% at $76.85 afterward. The stock was downgraded to Market Perform from Outperform at Wells Fargo, a valuation downgrade after shares hit an all-time high.

Texas Roadhouse Inc. (NASDAQ: TXRH) was started with a Neutral rating at UBS. Shares closed at $60.75, ins a 52-week range of $56.33 to $75.24. The consensus target price is $64.46.

Vail Resorts Inc. (NYSE: MTN) was started with a Buy rating and assigned a $242 price target (versus a $216.81 close) at SunTrust Robinson Humphrey. The consensus target price is $241.56.

Western Digital Corp. (NASDAQ: WDC) was downgraded to Underperform from Neutral and the target price was lowered to $40 from $50 (versus a $52.95 close) at Robert W. Baird. Its shares closed down 1.8% on Thursday, and they were indicated down another 5.5% at $50.05 on Friday morning.

Yamana Gold Inc. (NYSE: AUY) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Thursday’s top analyst calls included American Express, Chipotle Mexican Grill, CyberArk Software, Facebook, Lululemon Athletica, Microsoft, Nokia, Sirius XM, Tesla, Wynn Resorts and many more.

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