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Top Analyst Upgrades and Downgrades: Alcon, Analog Devices, Big Lots, CACI, CenterPoint, Cree, Lyft, Teva, WellCare and More

Jon C. Ogg

Cree Inc. (NASDAQ: CREE) was downgraded to Market Perform from Outperform with a $55 target price (versus a $55.14 close) at BMO Capital Markets.

Cyclerion Therapeutics Inc. (NASDAQ: CYCN) was started with a Neutral rating and assigned a $15 target price at Credit Suisse.

Equinix Inc. (NASDAQ: EQIX) was started with a near-term Buy rating and assigned a 12-month price target of $550 at Argus. The firm was said the data center and IT facilities landlord has strong opportunities in the global colocation market and that it has grown both organically and through targeted acquisitions. The firm also called it undervalued at current levels, based on its strong growth prospects.

Infinera Corp. (NASDAQ: INFN) was downgraded to Underweight from Neutral at JPMorgan. Shares closed down 3.4% at $3.11 on Friday and were indicated down almost 4% more on Monday. The 52-week trading range is $3.00 to $10.25.

Lyft Inc. (NASDAQ: LYFT) was reiterated as Outperform at Credit Suisse, which noted that after management meetings its margin expansion thesis is still on track as the domestic ride-share market remains a rational duopoly and as there are multiple paths to expand Lyft’s revenues from every ride.

Marriott Vacations Worldwide Inc. (NYSE: VAC) was started as Neutral at JPMorgan.

NextCure Inc. (NASDAQ: NXTC) was started as Overweight and assigned a $25 target at Morgan Stanley. Piper Jaffray started it with an Overweight rating and a $26 target price. Its shares closed down 2.9% at $18.62 on Friday.

Science Applications International Corp. (NYSE: SAIC) was started as Overweight and assigned a $96 target price (versus a $76.74 close) at Morgan Stanley.

Targa Resources Corp. (NYSE: TRGP) was raised to Buy from Hold with a $48 target price at SunTrust Robinson Humphrey. It closed down 1.5% at $38.46 on Friday.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Outperform from Perform with a $12 target price (versus an $8.65 close) at Oppenheimer.

WellCare Health Plans Inc. (NYSE: WCG) was downgraded to Market Perform from Outperform at BMO Capital Markets.

While many were surprised the U.S. president threatened Mexico with tariffs, it makes sense given the global trade issues to look for companies with negligible if any export worries. We found four stocks rated Buy at Merrill Lynch that fit the bill.

Credit Suisse now expects that the Federal Open Market Committee (FOMC) will have to cut rates by 25 basis points this summer after the significant increase in business uncertainty during a period of escalating trade disputes and deteriorating economic data. In assessing the China trade war impact, Credit Suisse outlined how the United States is considering adding more names to the trade blacklist, noting that industrials and hardware have the highest risks because of their reliance on technologies from the United States and other developed countries.

Friday’s top analyst calls included Alkermes, Apple, Canada Goose, FireEye, J.Jill, Kraft Heinz, Uber Technologies, Vonage and many more.