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Top Analyst Upgrades and Downgrades: Major Airlines, Apache, Baidu, Intel, Kimco, Lennar, Lululemon, SelectQuote, Shopify, Starbucks and More

KalVista Pharmaceuticals Inc. (NASDAQ: KALV) was started with a Buy rating and a $30 price target (versus a $10.41 close) at H.C. Wainwright. It has a 52-week range of $5.61 to $23.23, and it had a mere $185 million market cap as of Friday’s close.

Kimco Realty Corp. (NYSE: KIM) was downgraded to Underperform from In-Line at Evercore ISI.

Lennar Corp. (NYSE: LEN) was reiterated as Buy and its price target was raised to $76 from $53 (versus a $59.25 close) at Citigroup. Shares closed up 3.5% on Friday but were indicated down 1.5% at $58.35 on Monday.

Lululemon Athletica Inc. (NASDAQ: LULU) was reiterated as Buy and its price target was raised to $340 from $230 at Citigroup. Lululemon closed down 3.8% at $296.36 after profit-taking from last week’s earnings, and its shares were indicated down another 2% at $290.00 on Monday. They hit a high of $324.76 last week.

Mondelez International Inc. (NASDAQ: MDLZ) was raised to Buy from Hold at Berenberg, which noted that the food sector has extreme discounts to its valuations with this company having strong organic growth opportunities ahead.

SelectQuote Inc. (NYSE: SLQT) was started with an Outperform rating at Credit Suisse, which noted that it has rapid growth among the Medicare Advantage program. Piper Sandler started it as Overweight and RBC Capital Markets started it as Outperform. Morgan Stanley started it as Equal Weight, while Jefferies started it with a Hold rating.

Shopify Inc. (NYSE: SHOP) was raised to Overweight from Neutral and its price target was raised to $843 from $733 at Piper Sandler, based on it doubling or even tripling its e-commerce penetration rates.

Six Flags Entertainment Corp. (NYSE: SIX) was raised to Buy from Neutral with a $31 price target (versus a $22.74 close) at B. Riley FBR.

Spirit Airlines Inc. (NYSE: SAVE) was reiterated as Buy and its target price was raised to $22 from $14 at Citigroup. Shares closed up 17% at $18.82 on Friday but were indicated down 8% at $17.25 on Monday.

STAAR Surgical Co. (NASDAQ: STAA) was started with a Buy rating and a $55 price target (versus a $42.73 close) at Jefferies.

Starbucks Corp. (NASDAQ: SBUX) was started as Overweight at Atlantic Equities, with the firm noting that the company would recover from the pandemic with market share gains and with a better cost structure. Citi maintained its Buy rating but cut its target to $87 from $89.

Synaptics Inc. (NASDAQ: SYNA) was started with a Neutral rating at Rosenblatt.

United Airline Holdings Inc. (NYSE: UAL) was reiterated as Buy and its target price was raised to $47 from $38 at Citigroup. The stock closed up 19% at $39.66 on Friday but was indicated down 9% at $36.10 on Monday.

Werner Enterprises Inc. (NASDAQ: WERN) was raised to Buy from Neutral and its price target was raised to $49 from $42 (versus a $39.87 close) at UBS.

Friday’s top analyst upgrades and downgrades included Adobe, Analog Devices, Caterpillar, ConocoPhillips, General Motors, Southwest Airlines, Take-Two Interactive Software, Tesla and more.