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Top Analyst Upgrades and Downgrades: American Airlines, Apple, Bed Bath & Beyond, Box, Cisco, HP, Kroger, Netflix, PG&E, UnitedHealth and More

Jon C. Ogg

Kroger Co. (NYSE: KR) was downgraded to Hold from Buy and the price target was cut to $26 from $29 at Jefferies. Kroger closed at $24.53 on Wednesday, in a 52-week range of $20.70 to $31.98, and was down 1.5% at $24.15 on Thursday. The consensus target price is $27.14.

LogMeIn Inc. (NASDAQ: LOGM) was started with a Buy rating and a $91 price target (versus a $67.09 close) at Berenberg.

MFA Financial Inc. (NYSE: MFA) was started with an Outperform rating and assigned an $8.25 price target (versus a $7.45 close) at Wedbush.

NetApp Inc. (NASDAQ: NTAP) was downgraded to Sell from Buy and the price target was slashed to $45 from $61 (versus $51.37 prior close) at Goldman Sachs. Shares were indicated down 4.1% at $49.25 on Thursday.

Netflix Inc. (NASDAQ: NFLX) was maintained as Buy but the target price was lowered to $360 from $420 at Goldman Sachs. Netflix closed down 1.2% at $267.53 on Wednesday and was indicated down 1% at $264.85 on Thursday. While analysts keep lowering their targets, the consensus target price was last seen at $373.63.

PG&E Corp. (NYSE: PCG) was maintained with an Equal Weight rating and the price target was lowered to $16 from $23 at Morgan Stanley. PG&E was up 0.7% at $10.98 on Wednesday but was indicated down 31% at $7.57 after a judge ruled that the Elliott plan with bondholders could be considered.

Pioneer Natural Resources Co. (NYSE: PXD) was raised to Buy with a $191 target price (versus a $126.51 close) at MKM Partners.

Pure Storage Inc. (NYSE: PSTG) was raised to Buy from Neutral and the target price was raised to $21 from $19 at Goldman Sachs. It closed up 3% at $16.36 on Wednesday and was indicated up 5.4% at $17.25 on Thursday.

Realty Income Corp. (NYSE: O) was started as Buy with a $99 price target (versus a $78.29 close) at Jefferies.

UnitedHealth Group Inc. (NYSE: UNH) was downgraded to Hold from Buy and the target price was lowered to $235 from $300 at Jefferies. UnitedHealth closed up 0.9% at $222.08 on Wednesday and was indicated down 0.9% at $220.00 on Thursday.

Whiting Petroleum Corp. (NYSE: WLL) was named as the Zacks Bear of the Day stock. The firm said that the E&Ps are hitting new lows and this may finally be the bottom. Shares last closed at $6.93, with a consensus price target of $17.68.

The airline stocks have underperformed this year, but hopes for a huge holiday selling and travel season combined with solid industry metrics have the Stifel analysts bullish on four top stocks.

Goldman Sachs still sees solid upside for the REITs and their strong dividends in 2020.

Wednesday’s top analyst upgrades and downgrades included Caterpillar, Chipotle Mexican Grill, Constellation Brands, Domino’s Pizza, Fannie Mae, FedEx, Harley-Davidson, IBM, Netflix, Peloton Interactive, Wingstop and many more.