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Top Analyst Upgrades and Downgrades: Agilent, American Power, Apache, Boeing, Ciena, Cisco, FireEye, Palo Alto, Southwest, Yum Brands and More

Lee Jackson

Ciena Corp. (NYSE: CIEN) was raised to Overweight from Equal Weight at Morgan Stanley, which raised the price target to the $50 level. That compares to an inline consensus target of $50.63. The shares closed Tuesday at $41.55, but were up well over 3% in Wednesday’s premarket.

Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Neutral from Buy at Merrill Lynch. The 52-week trading range for the technology giant is $42.58 to $58.26. The consensus price target is set at $52.29, which compares to a Tuesday close of $47.49.

Clovis Oncology Inc. (NASDAQ: CLVS) saw its target price lowered to $27 from $36 at H.C. Wainwright. The consensus price target is $16.91. The call comes after the company reported preliminary fourth-quarter numbers on Tuesday. Shares closed trading at $8.47, down over 8% on the day.

CommScope Holding Co. Inc. (NASDAQ: COMM) was raised from Neutral to Buy at Merrill Lynch. The 52-week trading range has been $9.52 to $27. The consensus price target is $18.07. The last trade on Tuesday was reported at $13.46.

Corning Inc. (NYSE: GLW) was downgraded to Equal Weight from Overweight at Morgan Stanley, which also lowered the target on the fiber optics giant to $33. The consensus price target is $30.80. The shares ended Tuesday at $29.90 and were down about 1% in the premarket.

Danaher Corp. (NYSE: DHR) was started with an Overweight rating and a $170 price target at Wells Fargo. The consensus price target is $160.40, and Tuesday’s last trade came in at $156.13.

FireEye Inc. (NASDAQ: FEYE) was downgraded to Neutral from Buy at Merrill Lynch. The shares have traded in a 52-week range of $12.55 to $18.66, and the consensus price target is at $18.75. The stock closed Tuesday at $18.16, but shares were down almost 2% in the premarket.

Forescout Technologies Inc. (NASDAQ: FSCT) was downgraded to Neutral from Buy at UBS, which actually raised the price target to $36. That compares to the higher consensus target of $37.25. The stock was last seen Tuesday at $32.05, and shares traded down almost 3% in the premarket.

Funko Inc. (NASDAQ: FNKO) was named as the Zacks Bear of the Day stock. The firm said that this toy company is still on the outs even in 2020. Shares last closed at $15.79 and have a consensus price target of $26.22.

Palo Alto Networks Inc. (NYSE: PANW) was downgraded to Neutral from Buy at Merrill Lynch. The cybersecurity software giant has traded in a 52-week range of $190.17 to $260.63. The stock was last seen Tuesday at $241.64, and shares were down almost 2% in the premarket.

Quest Diagnostic Inc. (NYSE: DGX) was started with an Underweight rating and a $100 price target at Wells Fargo. The consensus target is $109.29. The close on Tuesday was reported at $104.47.

Sony Corp. (NYSE: SNE) was named as the Bull of the Day at Zacks, which said that this firm is making a name for itself as a cheap tech and gaming company. Shares most recently closed at $70.20, with a consensus price target of $73.90.

Southwest Airlines Inc. (NYSE: LUV) was downgraded to Neutral from Buy at Merrill Lynch. The low-fare airline giant has traded in a 52-week range of $32.46 to $44.12, and it has a consensus price target of $38.50. The stock closed Tuesday at $37.90.

Theravance Pharmaceutical Inc. (NASDAQ: TBPH) saw its price target raised at H.C. Wainwright to $30 from $25, as the firm remains positive on the company’s partnership with Pfizer. The consensus price target is $34.75, and the stock closed Tuesday at $23.63.

Yum! Brands Inc. (NYSE: YUM) was downgraded to Market Perform from Outperform at Cowen, which also dropped its price target to $109. The consensus price objective is $112.74, and shares closed Tuesday at $101.97.

Tuesday’s top analyst upgrades and downgrades included Aerojet, Best Buy, Boeing, Chevron, FireEye, Gap, Lowe’s, Micron Technology, Phillips 66, T-Mobile, Western Digital and many more.