Top Analyst Upgrades and Downgrades: Alphabet, Amazon, Chipotle, Disney, Ford, Goldman Sachs, Grubhub, New Relic, Pinterest, Snap, Tesla and More

MercadoLibre Inc. (NASDAQ: MELI) was raised to Positive from Neutral and the target price was raised to $820 from $500 (versus a $709.86 close) at Susquehanna.

Mueller Water Products Inc. (NYSE: MWA) was reiterated as Buy with a $13 target price (versus a $12.09 close) at Janney.

New Relic Inc. (NYSE: NEWR) was up over 4% at $70.77 ahead of earnings, but the post-earnings reaction had shares down over 14% at $60.75 on Wednesday in early trading. SunTrust Robinson Humphrey reiterated its Buy rating with an $85 target price. Wedbush downgraded New Relic to Neutral from Outperform with a $71 target price, and BMP Capital Markets downgraded it to Market Perform from Outperform with a $72 target price.

Pinterest Inc. (NYSE: PINS) was started with a Buy rating and a $29 target price at Loop Capital. The stock closed up 0.5% at $22.46 on Tuesday, and its consensus target price was $26.24.

Plantronics Inc. (NYSE: PLT) closed down 2.1% at $26.88 on Tuesday ahead of earnings, but the shares were down a sharp 31% at $18.55 on Wednesday morning, and that is under its prior 52-week low of $22.80. Evercore ISI downgraded it to In-Line from Outperform and slashed its target price to $21 from $37.

Ralph Lauren Corp. (NYSE: RL) was up over 9% at $123.68 on Tuesday. Merrill Lynch raised its rating to Neutral from Underperform, and Citigroup raised its target to $125 from $115 while maintaining its Neutral rating.

RingCentral Inc. (NYSE: RNG) was reiterated as Buy and its price objective was raised to $237 from $198 (versus a $209.15 close) at Merrill Lynch.

Royal Caribbean Cruises (NYSE: RCL) was reiterated as Outperform with a $140 target price at Wedbush. While the coronavirus fallout will continue to influence earnings power and investor sentiment over the near term, the company’s commentary was better than expected.

Sherwin-Williams Co. (NYSE: SHW) was downgraded to Neutral from Positive at Susquehanna.

Snap Inc. (NYSE: SNAP) was up 4.1% at $18.98 ahead of earnings but was trading down almost 7% at $17.70 afterward. Wedbush maintained it as Neutral with a $15.25 target price.

Splunk Inc. (NASDAQ: SPLK) was named as the Bull of the Day at Zacks, which said that investors are finally seeing the gold in this data miner as analysts raise their targets. Shares most recently closed at $167.81, with a consensus price target of $165.72.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Hold from Buy at Canaccord Genuity, but that call came after its shares are up over 50% in just the past five trading days. Tesla closed up more than 13% at $887.06 on Tuesday, but the shares hit a high of $968.99 earlier in the day.

Toll Brothers Inc. (NYSE: TOL) was upgraded to Sector Outperform from Sector Perform and its target price was raised to $50 from $39 (versus a $44.52 close) at RBC Capital Markets.

Vivint Smart Home Inc. (NYSE: VVNT) was down almost 10% at $12.85 on Tuesday, but Evercore ISI started it as Outperform with an $18 target price. The shares have a post-debut trading range of $10.20 to $23.86.

Walt Disney Co. (NYSE: DIS) was up 2.4% at $144.73 ahead of earnings and shares were still up about 0.5% at $145.45 after earnings. Guggenheim reiterated Disney with a Buy rating and raised its target to $160 from $151.

Tuesday’s top analyst upgrades and downgrades included Alphabet, American Water Works, Caterpillar, Cisco Systems, Comcast, Gap, Lululemon Athletica, Nike, Slack, Stitch Fix, Tesla, Under Armour and many more.

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