Top Analyst Upgrades and Downgrades: AMD, Amex, Apache, Coca-Cola, Ford, GM, Goldman Sachs, Lyft, Snap, Starbucks, Tesla and More

Lyft Inc. (NASDAQ: LYFT) was started with a Sell rating and the target price was set at $35 (versus a $45.08 close) at Benchmark. The prior consensus target price was $68.23.

Marathon Oil Corp. (NYSE: MRO) was downgraded to Equal Weight from Overweight at Barclays.

Microsoft Corp. (NASDAQ: MSFT) was reiterated as Outperform and the target price was raised to $180 from $165 at Cowen. Wedbush Securities also got very aggressive by reiterating its Outperform rating and raising its target price to $195 from $185. Microsoft closed up 1.6% at $160.09 and hit a new all-time high of $160.80 the prior day. Its consensus target price was $165.19.

Patterson Companies Inc. (NASDAQ: PDCO) was raised to Neutral from Underperform and the price objective was raised to $22.50 from $19.50 (versus a $21.75 close) at Merrill Lynch.

Phillips 66 (NYSE: PSX) was maintained as Outperform at Raymond James, but the firm did lower its target price to $125 from $130. Shares closed down 3.7% at $104.10, and they had a consensus target price of $129.06 and a 52-week high of $119.92.

PNC Financial Services Group Inc. (NYSE: PNC) was raised to Buy from Neutral and the price objective was raised to $178 from $144 (versus a $158.89 close) at Merrill Lynch.

Shake Shack Inc. (NYSE: SHAK) was started with an Underperform rating at Raymond James, and MKM had lowered its target to $65 from $75 earlier in the week.

Snap Inc. (NYSE: SNAP) was upgraded to Outperform from Market Perform and the target price was raised to $20 from $16 at Cowen. Jefferies raised it to Buy from Hold and raised its target price to $21. Shares closed down 2.1% at $16.67 ahead of the calls, with an $18.07 consensus target price. Shares were up over 45 at $17.40 ahead of the opening bell on Thursday, and its 52-week trading range is $5.63 to $18.36.

Starbucks Corp. (NASDAQ: SBUX) was raised to Overweight from Equal Weight with a $107 target price at Barclays. It closed at $88.88 ahead of the call, and the consensus target price was $94.85 ahead of the call.

Tempur Sealy International Inc. (NYSE: TPX) was named as the Bull of the Day at Zacks, which said that this stock is up 80% in the past year and the mattress powerhouse’s expansion looks poised to continue. Shares most recently closed at $85.26, with a consensus analyst target of $95.90.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Neutral from Outperform at Robert W. Baird, but the firm also handily raised its target price to $525 from $355 after its shares closed up 4.9% at $492.14 on Wednesday. While the downgrade came with a serious target price hike, the analyst called this report a tactical downgrade to lock in profits after such a large gain (over 100% in just six months) and said that there is still a long-term growth story here. CFRA also downgraded Tesla to Sell from Hold, but the firm kept its $400 target price static as it sees its value at 36 times 2021 expected earnings with its shares now appearing to be fully valued after a strong run despite numerous near-term risks.

The analysts at Robert W. Baird have released the firm’s top stock picks for 2020, and we screened the growth picks for companies that also pay dependable dividends and have expected upside ahead.

Jefferies also added names to its top picks for 2020 list.

Wednesday’s top analyst upgrades and downgrades included Agilent Technologies, American Power, Apache, Boeing, Ciena, Cisco, FireEye, Palo Alto Networks, Sony, Southwest Airlines, Yum! Brands and many more.