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Top Analyst Upgrades and Downgrades: Barrick Gold, BlackRock, Comcast, Microsoft, NextEra, Ping, Shopify, Tesla, 3D Systems, UnitedHealth and More

Jon C. Ogg

IHS Markit Ltd. (NYSE: IHS) was raised to Buy from Hold with a $90 target price (versus a $79.35 close) at Argus. It has an $83.13 consensus target and a 52-week trading range of $50.47 to $79.96.

Maxim Integrated Products Inc. (NASDAQ: MXIM) was downgraded to Underweight from Equal Weight with a $60 target price (versus a $61.45 close) at Barclays.

Michaels Companies Inc. (NYSE: MIK) was downgraded to Sell from Neutral and the target price was lowered to $6.50 to $7.00 (versus $6.99 prior close, after a 3.4% drop) at Goldman Sachs. Shares have traded in a 52-week range of $4.96 to $16.26 and have a $7.50 consensus target price.

Microsoft Corp. (NASDAQ: MSFT) was reiterated as Overweight and the target price was raised to $185 from $180 (versus a $163.18 close) at Wells Fargo.

NextEra Energy Inc. (NYSE: NEE) was downgraded to Neutral from Buy with a $256 target price (versus a $251.58 close) at Goldman Sachs. The utility downgrade was a valuation call, now that it has a $123 billion market cap and is effectively at its consensus target price.

Pan American Silver Corp. (NASDAQ: PAAS) was downgraded to Underperform from Neutral at Merrill Lynch.

Ping Identity Holding Corp. (NYSE: PING) was reiterated as Overweight and the target price was raised to $32.50 from $22.50 (versus a $27.04 close) at Wells Fargo.

Purple Innovation Inc. (NASDAQ: PRPL) was reiterated as Outperform and the target price was raised to $13 from $11 at Raymond James. The stock closed up 5.3% at $11.27 ahead of the call, and it had a consensus target price of $12.50.

Salesforce.com Inc. (NYSE: CRM) was reiterated as Overweight and the target price was raised to $216 from $185 (versus a $181.06 close) at Wells Fargo.

Shopify Inc. (NYSE: SHOP) was started as Hold with a $420 target price (versus a $448.51 close) at Loop Capital. The consensus target price was $377.72 ahead of the call, and its 52-week range is $154.10 to $453.00.

Splunk Inc. (NASDAQ: SPLK) was reiterated as Overweight and the target price was raised to $200 from $175 (versus a $156.02 close) at Wells Fargo.

Stemline Therapeutics Inc. (NASDAQ: STML) was maintained as Outperform but the target price was lowered to $14 from $17 (versus a $6.84 close) at Wedbush , with the firm noting that the target price decrease was over a deceleration of its Eloznris launch.

3D Systems Corp. (NYSE: DDD) was downgraded to Sell from Hold with a $9 target price (versus an $11.90 close, after a 2.6% gain) at Loop Capital. The consensus target price is $9.58, and the 52-week trading range is $6.47 to $14.50.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Underweight from Equal Weight but the target price was raised to $350 from $250 at Morgan Stanley, with the firm noting the run-up has been unsustainable and that it has risks to its China business in the long run.

UnitedHealth Group Inc. (NYSE: UNH) rose 2.8% to $296.41 on Wednesday after earnings. Citigroup reiterated it as Buy and raised the target price to $346 from $286.

Xilinx Inc. (NASDAQ: XLNX) was downgraded to Neutral from Buy and the target price was lowered to $106 from $115 at Mizuho. After closing at $98.83, it is down from a 52-week high of $141.60 while most other chip stocks are up at or near all-time highs.

Goldman Sachs says that clean energy stocks could have some very solid follow-through for 2020, and four companies remain the top picks at the firm for big potential upside.

Wednesday’s top analyst upgrades and downgrades included American Electric Power, Beyond Meat, ConocoPhillips, Delta Air, JPMorgan, First Solar, Luckin Coffee, Peloton, PG& E, Qualcomm, Redfin, Zynga and many more.