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Top Analyst Upgrades and Downgrades: CBOE, Citrix, Etsy, ICE, Lululemon, Microsoft, Peloton, Regeneron, Twitter, United Rentals and More

Microsoft Corp. (NASDAQ: MSFT) was maintained as Strong Buy but its price target was lowered to $183 from $200 at Raymond James. Microsoft closed up 2% at $155.26 on Thursday and had a $189.10 prior consensus target price.

Nasdaq Inc. (NASDAQ: NDAQ) was raised to Neutral from Sell and its price target was lowered to $100 from $102 (versus a $93.96 close) at Citigroup.

Peloton Interactive Inc. (NASDAQ: PTON) was started with a Buy rating and a $42 price target at Rosenblatt. Shares closed down over 4% at $26.74, and the consensus price target was $37.33 ahead of this call.

Ralph Lauren Corp. (NYSE: RL) was downgraded to Sector Perform from Outperform and its price target was slashed to $65 from $135 at RBC Capital Markets.

RealReal Inc. (NASDAQ: REAL) was downgraded to Neutral from Buy and the price target was cut to $6 from $16 (versus a $6.95 close) at B. Riley FBR.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was named as the Bull of the Day at Zacks, which said that this stock has surged 30% in 2020 as investors clamor for stocks that appear to be immune to the coronavirus. Shares most recently closed at $498.75, with a consensus price target of $476.21.

Twitter Inc. (NYSE: TWTR) was raised to Buy from Neutral and the price target was cut to $35 from $39 (versus a $23.02 close) at Goldman Sachs.

United Rentals Inc. (NYSE: URI) was downgraded to Neutral from Outperform at BNP Paribas.

Urban Outfitters Inc. (NASDAQ: URBN) was maintained as Neutral but the price target was cut to $15 from $17 (versus a $13.08 close) at B. Riley FBR.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) was raised to Hold from Sell at Deutsche Bank.

Wendy’s Co. (NASDAQ: WEN) was started with a Hold rating at Deutsche Bank.

Citigroup has lowered its 2020 global GDP forecast to −1.6%, with the U.S. contracting 0.5% and the eurozone contracting 8.4%, while China is expected to grow just 2.4%.

Merrill Lynch has four top tech stock picks that have dividend yields of up to 6%.