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Top Analyst Upgrades and Downgrades: AbbVie, Adobe, Amex, Intel, 3M, Microsoft, SAP, Shopify, Sprint, Target and More

Noble Energy Inc. (NYSE: NBL) was raised to Overweight from Neutral and the price target was raised to $32 from $28 (versus a $27.08 close) at JPMorgan. The consensus target price is $33.48.

Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Hold from Buy and the target price was cut to $66 from $74 (versus a $61.31 close) at Jefferies. The consensus target price ahead of the call was $78.00, and shares were trading up at almost $62.50 before it threw its hat in the Anadarko Petroleum merger bidding.

Raymond James Financial Inc. (NYSE: RJF) was reiterated as Buy and the target price was raised to $96 from $92 (versus an $89.75 close) at Argus. Shares closed down 0.5% on Friday and have a 52-week range of $69.11 to $102.17.

Republic Services Inc. (NYSE: RSG) was raised to Buy from Hold and the target price was raised to $90 from $86 (versus an $80.55 close) at Stifel.

SAP S.E. (NYSE: SAP) was raised to Outperform from Sector Perform and the target price was raised to $167 from $133 (versus a $127.48 close) at RBC Capital Markets. Its American depositary shares closed down 1.2% on Friday and were indicated down another 0.9% at $126.35 on Monday, with a consensus target price of $128.34 and a 52-week range of $94.81 to $130.16.

Shopify Inc. (NYSE: SHOP) was started as Overweight and assigned a target price of $250 (versus a $222.28 close, after a 1.5% gain) at KeyBanc Capital Markets.

Sprint Corp. (NYSE: S) was downgraded to Market Perform from Outperform at Raymond James, with the firm noting greater risk-reward problems and with a lower probability of a merger approval happening.

Target Corp. (NYSE: TGT) was raised to Overweight from Equal Weight and the target price was raised to $115 from $85 (versus a $77.12 close, after a 5.6% drop) at Barclays.

Tradeweb Markets Inc. (NASDAQ: TW) was up 1% at $40.23 with a post-IPO range of $33.68 to $44.25. Merrill Lynch started shares with a Neutral rating, Barclays started it as Equal Weight and JPMorgan started it with an Overweight rating. The shares were indicated down 3% at $39.00 on Monday.

Treehouse Foods (NYSE: THS) was raised to Outperform from Market Perform at Wells Fargo.

United Parcel Service Inc. (NYSE: UPS) was maintained as Buy with a $125 price target (versus a $103.95 close) at Argus, with the firm noting that the recent weakness in its shares is a buying opportunity.

Visteon Corp. (NYSE: VC) was raised to Hold from Underperform but the price target was chopped to $62 from $79 by Jefferies. Shares closed up 4.7% at $63.80 on Friday, with a consensus target price of $89.43.

Wix.com Ltd. (NASDAQ: WIX) was started with a Sector Weight rating at KeyBanc Capital Markets. It closed up 2.75% at $133.52 on Friday, with a consensus target price of $120.17 and a 52-week range of $76.05 to $133.75.

Friday’s top analyst calls included Amazon.com, Aurora Cannabis, Cleveland-Cliffs, FedEx, Ferrari, Grubhub, Hexo, Proofpoint, Shutterfly, Starbucks and many more.