Domtar Corp. (NYSE: UFS) was raised to Outperform from Sector Perform but the target price was cut to $32 from $35 RBC Capital Markets.
Ecolab Inc. (NYSE: ECL) was downgraded to Underweight from Neutral and its target price was lowered to $152 from $200 (versus a $166.12 close) at JPMorgan.
Equity Residential (NYSE: EQR) was raised to Neutral from Underperform at Robert W. Baird, a day after it closed down about 17% at $61.16, with a 4% yield.
Mosaic Co. (NYSE: MOS) was raised to Neutral from Underweight with a $10 target price at JPMorgan.
Novavax Inc. (NASDAQ: NVAX) was raised to Overweight from Neutral and its target was raised to $16 from $6 (versus a $6.91 close, after an 18% drop) at Cantor Fitzgerald.
PepsiCo Inc. (NYSE: PEP) was raised to Outperform from In-Line at Evercore ISI Group.
Procter & Gamble Co. (NYSE: PG) was raised to Buy from Hold with a $130 target price (versus a $108.50 close) at Deutsche Bank.
Square Inc. (NYSE: SQ) was maintained as Overweight and the target price was lowered to $59 from $78 (versus a $41.27 close, after a 28% drop) at Stephens.
US Bancorp (NYSE: USB) was raised to Outperform from Neutral with a $56 target price at Robert W. Baird.
Vale S.A. (NYSE: VALE) was raised to Buy from Neutral and its target price was lowered to $12 from $14 at Citigroup. The stock closed down 9.25 at $7.90 ahead of this call.
Walmart Inc. (NYSE: WMT) was raised to Outperform from Perform with a $125 target price at Oppenheimer. Walmart closed down 6.4% at $106.76 on Monday, with a $129.07 consensus target price.
Werner Enterprises Inc. (NASDAQ: WERN) was raised to Outperform from Neutral with a $42 target price (versus a $29.41 close, after an 8.2% drop) at Robert W. Baird.
Zoom Video Communications Inc. (NASDAQ: ZM) was started with a Buy rating and a $140 target price (versus a $107.86 close) at Needham.
The Zacks Bull and Bear of the day were a bit interesting this morning. Virtu Financial Inc. (NASDAQ: VIRT) was named as the Bull of the Day at Zacks, which said that when the markets get crazy, sophisticated market makers like this firm clean up. Shares most recently closed at $20.82 and have a consensus price target of $21.89. As for bear of the day, Zacks just has “You probably don’t need help finding a stock to sell.”
A firm called BCA Research has noted that the recent price drop in gold is being driven by a wave of sellers looking to raise easy cash from any source and as deflationary fears are becoming more real. Their view was that it raised the specter of a depression-like scenario.
Monday’s top analyst upgrades and downgrades included AGNC Investment, Altria, BP, Broadcom, Caterpillar, Exxon Mobil, FedEx, Hess, Nvidia, Occidental Petroleum and more.