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Top Analyst Upgrades and Downgrades: Adobe, Biogen, Bristol-Myers, Broadcom, Charles Schwab, Ciena, Etsy, Gilead, Oracle, Sarepta, Snap, Wayfair and More

Etsy Inc. (NASDAQ: ETSY) was started with a Buy rating and a $55 target price (versus a $41.98 close) at SunTrust.

Gilead Sciences Inc. (NASDAQ: GILD) was downgraded to Underperform from Neutral and the target price was lowered to $63 from $67 (versus a $67.63 close) at Credit Suisse. Gilead had a $78.29 consensus target price ahead of the cut, and its shares were indicated down almost 1% at $67.00 on Friday morning.

Hanesbrands Inc. (NYSE: HBI) was downgraded to Underperform from Neutral and the price objective was lowered to $13 from $16 at Merrill Lynch.

MPLX L.P. (NYSE: MPLX) was started with a Hold rating and $28 target price (versus a $25.23 close) at SunTrust.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) was downgraded to Neutral from Outperform at Credit Suisse.

NextEra Energy Inc. (NYSE: NEE) was reiterated as Buy with a $245 price target (versus a $233.90 close) at Mizuho.

Oil States International Inc. (NYSE: OIS) was downgraded to Underweight from Neutral with a $12 target price (versus a $17.61 close) at JPMorgan.

Oracle Corp. (NYSE: ORCL) closed up 0.3% at $56.47 on Thursday and was last seen trading down 2.4% at $55.15 after earnings. Wedbush reiterated it as Neutral with a $56 target price. Barclays maintained its Equal Weight rating but trimmed its target price to $60 from $61.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) was downgraded to Underweight from Neutral with a $6 target price (versus a $10.38 close) at JPMorgan.

PulteGroup Inc. (NYSE: PHM) was named as the Bull of the Day at Zacks, which said that 2020 should be another strong year for the homebuilders. Shares most recently closed at $39.63 and have a consensus price target of $41.36.

Restaurant Brands International Inc. (NYSE: QSR) was started as Hold with a $68 price target (versus a $66.43 close) at Stifel.

Sarepta Therapeutics Inc. (NASDAQ: SRPT) was reiterated as Buy and the target price was raised to $175 from $160 at Janney. Shares closed down about 1% at $100.47 on Thursday, but they were indicated up over 31% at $132.00 after the FDA approved its muscular dystrophy drug.

Snap Inc. (NYSE: SNAP) was raised to Outperform from Market Perform with a $20 target price (versus a $14.45 close) at JMP Securities.

Teladoc Health Inc. (NYSE: TDOC) was started with an Equal Weight rating and an $80 target price (versus a $77.05 close) at Barclays.

Wayfair Inc. (NYSE: W) was started with a Hold rating and $96 target price (versus an $88.75 close) at SunTrust.

Several legacy technology players may be the best technology stock picks for 2020.

Thursday’s top analyst upgrades and downgrades included Autodesk, Bausch Health, Charles Schwab, Darden Restaurants, Garmin, GE, Home Depot, Kroger, Merit Medical, Starbucks and many more.