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Top Analyst Upgrades and Downgrades: AbbVie, Beyond Meat, Bio-Rad, Dell, HP, Jumia, Nabriva, PG&E, Salesforce, Sarepta and More

Jumia Technologies A.G. (NYSE: JMIA) was up almost 18% to $15.41 on Monday and was indicated up another 3.8% on Tuesday. Morgan Stanley raised its rating to Equal Weight from Underweight.

Las Vegas Sands Inc. (NYSE: LVS) was downgraded to Hold from Buy at Argus.

McCormick & Co. Inc. (NYSE: MKC) was downgraded to Underweight from Neutral and the target price was cut to $150 from $154 (versus a $168.56 close) at JPMorgan. The shares were indicated down 2.7% at $164.00 on Tuesday, and the prior consensus target price was $152.11.

Nabriva Therapeutics PLC (NASDAQ: NBRV) had been down 3% at $2.21 on Monday, but news of an FDA approval for new antibiotics targeting bacterial pneumonia had its shares indicated up 23% at $2.73 on Tuesday. Wedbush Securities reiterated it as Outperform and raised its target price to $7 from $5.

PG&E Corp. (NYSE: PCG) was hammered on Monday with a drop of 25% to $10.67 after an adverse ruling about the Tubbs fire of 2017 and after Citigroup downgraded the stock to Sell from Buy with a new $4 target price. On Tuesday, UBS maintained its Neutral rating but cut its target price to $13 from $24.

Salesforce.com Inc. (NYSE: CRM) was reiterated as Outperform with a $184 price target (versus a $143.67 close) at Wedbush. The call is supporting a more positive view on its Tableau acquisition.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was maintained as Buy at Janney, but the firm lowered its target price to $175 from $200 (versus a $120.31 close) on news that the FDA issued a Complete Response letter for golodirsen and the firm has delayed its launch expectations out to 2022 as a result. Robert W. Baird maintained the stock as Outperform but cut its target to $181 from $202, and Credit Suisse maintained its Outperform rating but cut its target to $201 from $207. Shares were indicated down 17% to $99.75 after closing at $120.31, with an $8.95 billion market cap, and its prior consensus target price was $209.67 ahead of this development.

Silk Road Medical Inc. (NASDAQ: SILK) was started with a Buy rating and assigned a $52 target price (versus a $40.74 close) at Argus.

Splunk Inc. (NASDAQ: SPLK) was maintained as Outperform at Wedbush, but the firm lowered its target to $158 from $163 (versus a $125.56 close) on word that checkpoints maintained a strong profile but the longer-term risks continue to act as a future overhang.

Sunrun Inc. (NASDAQ: RUN) was started as Overweight and assigned a $19 target price at KeyBanc Capital Markets. It closed up 2.5% at $15.77 on Monday and was indicated up 3% at $16.25 on Tuesday. Its consensus target price was $22.40 ahead of this call.

Vivint Solar Inc. (NYSE: VSLR) was up almost 4% at $8.29 on Monday and was indicated up 2.5% at $8.50 on Tuesday. KeyBanc Capital Markets started it with an Overweight rating and assigned a $12.00 target price. The consensus target price was $11.50 ahead of this call, and the 52-week trading range is $3.55 to $9.82.

Vornado Realty Trust (NYSE: VNO) was downgraded to Hold from Buy at Argus.

Merrill Lynch has issued a report predicting which internet sector leaders will do the best and worst in the next recession, but the “best” may still be atrocious if the growth rates are bitten into in the worst-case scenario.

The RBC Capital Markets team of analysts covering the internet sector are very positive on four large-cap stocks for the rest of the year, and two may be a big surprise for technology investors.

RingCentral Inc. (NYSE: RNG) was named as the Bull of the Day at Zacks, which said strong growth and bullish analyst sentiment is pushing shares of this software stock higher. The Zacks Bear of the Day is Tapestry Inc. (NYSE: TPR). The firm said that this legacy retailer is seeing some growth troubles.

Monday’s top analyst calls included Amgen, Aramark, Chevron, Deere, Exxon Mobile, Hecla Mining, Occidental Petroleum, Urban Outfitters, Whiting Petroleum and many more.