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Top Analyst Upgrades and Downgrades: Anaplan, Autodesk, Cerus, Hewlett Packard Enterprise, Mallinckrodt, Nabors, Veeva Systems, VistaGen and More

Laureate Education Inc. (NASDAQ: LAUR) was reiterated as Buy and the target price was raised to $22 from $19 at Citigroup.

Livongo Health Inc. (NASDAQ: LVGO) was raised to Overweight from Equal Weight with a $42 target price (versus a $29.69 close, after a 5.2% drop) at Morgan Stanley.

Mallinckrodt PLC (NYSE: MNK) was maintained as Equal Weight but the target price was lowered to $5 from $7 Barclays.

Mid-America Apartment Communities Inc. (NYSE: MAA) was reiterated as Overweight and the price target was raised to $133 from $127 (versus a $125.15 prior close) at Barclays. The consensus target price is $124.50, and the dividend yield is 3%.

Myovant Sciences Ltd. (NYSE: MYOV) was started with a Buy rating and assigned a $20 target price (versus a $7.86 close) at Goldman Sachs. The stock was indicated up over 7% at $8.44 on Wednesday, and it has a 52-week range of $6.60 to $27.45.

Nabors Industries Ltd. (NYSE: NBR) was downgraded to Neutral from Buy at Merrill Lynch. It closed at $1.65 on Tuesday but was indicated up almost 2% on Wednesday. The 52-week range is $1.60 to $6.65.

Nine Energy Service Inc. (NYSE: NINE) was downgraded to Neutral from Buy at Merrill Lynch. Shares closed down 3.6% at $5.85 on Tuesday, with a consensus target price of $14.75 ahead of this call.

Papa John’s International Inc. (NASDAQ: PZZA) was raised to Buy from Hold and its target price was raised to $60 from $42 (versus a $48.00 close, after a 9.5% gain) at Stifel. The consensus target price was $54.56 ahead of the call, and the 52-week trading range is $38.29 to $60.56.

Targa Resources Corp. (NYSE: TRGP) was raised to Strong Buy from Outperform with a $48 target price at Raymond James. Shares closed down 1.5% at $32.46 on Tuesday, with a consensus target price of $46.86. Its distribution yield is listed as roughly 11%.

Veeva Systems Inc. (NYSE: VEEV) was reiterated as Buy at Stifel, which raised its target price to $185 from $175. KeyBanc Capital Markets reiterated its Overweight rating and raised its target price to $190 from $172, while JMP Securities reiterated its Market Outperform rating and raised its target to $172 from $153. Needham reiterated its Buy rating and raised its target to $187 from $150, and JPMorgan reiterated its Neutral rating but raised its target to $183 from $150. The stock closed at $163.41 a share after earnings. Its consensus target price was $158.20 ahead of the calls.

VistaGen Therapeutics Inc. (NASDAQ: VTGN) is a tiny company, with a market cap of $27 million before the news, and its shares closed up almost 6% at $0.635 on Tuesday. William Blair started it with an Outperform rating and assigned a $4 target price. Shares were indicated to open about 15% higher at $0.74 on Wednesday.

We have screened out 30 stocks with payout ratios of less than 50% for sustainable dividend investors worried about the next recession or slowdown biting into many companies.

Tuesday’s top analyst calls included Amgen, BorgWarner, Chipotle Mexican Grill, Cree, Dollar General, Exelon, PDC Energy, Verizon Communications, Zynga and many more.

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