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Top Analyst Upgrades and Downgrades: ANGI, Carnival, Chegg, Clorox, Crocs, Dish, Etsy, Intercept, Micron, Okta, Seattle Genetics, Spotify, Square, 2U and More

Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) fell almost 40% to $46.70 after a disappointment in a NASH study. Cowen downgraded it to Market Perform from Outperform and slashed its target price to $47 from $149.

Invesco Mortgage Capital Inc. (NYSE: IVR) was started as Underperform with a $2.50 price objective (versus a $3.57 close) at BofA Securities.

Magellan Midstream Partners L.P. (NYSE: MMP) was started with a Buy rating and a $55 price target (versus a $42.03 close) at TD Securities.

Micron Technology Inc. (NASDAQ: MU) was trading up about 6% at $52.00 after beating earnings expectations. Wedbush reiterated it as Neutral with a $55 price target (versus a $49.15 close). Jefferies reiterated its Outperform rating and raised its target price to $65 from $60. KeyBanc Capital Markets reiterated its Overweight rating and raised its target price to $70 from $59.

9 Meters Biopharma Inc. (NASDAQ: NMTR) was started with a Buy rating and a $5 price target (versus a $0.56 close) at SunTrust Robinson Humphrey. This had a mere $53 million market cap that is labeled as high-risk that is targeting celiac disease and short bowel syndrome. This stock was indicated up almost 20% at $0.67 on Tuesday morning.

Okta Inc. (NASDAQ: OKTA) was downgraded to Neutral from Buy at BTIG. Shares closed down 1.8% at $199.84 ahead of the call, with a $198.41 consensus target price.

PayPal Holdings Inc. (NASDAQ: PYPL) was started as Outperform and with a $195 price target (versus a $168.35 close) at JMP Securities.

Plains All American Pipeline L.P. (NYSE: PAA) was started with a Buy rating and a $17 price target (versus an $8.39 close) at TD Securities.

Plug Power Inc. (NASDAQ: PLUG) was maintained as Equal Weight at Morgan Stanley after its shares rallied 17% to $7.99 on Monday.

Restaurant Brands International Inc. (NYSE: QSR) was reiterated as Buy and its price target was raised to $63 from $60 (versus a $55.25 close) at SunTrust Robinson Humphrey. Morgan Stanley reiterated its Overweight rating and raised its target to $62 from $60.

Schnitzer Steel Industries Inc. (NASDAQ: SCHN) was named as the Bull of the Day at Zacks, which said that it could be time to step back into traditional American stocks. Shares most recently closed at $17.41 and have a consensus price target of $16.00.

Seattle Genetics Inc. (NASDAQ: SGEN) was reiterated as Outperform and its price target was raised to $167 from $155 (versus a $164.37 close) at SVB Leerink. Needham reiterated its Buy rating and raised its target to $188 from $163. Shares were indicated up over 4% at $172.00 after posting positive Phase 2 topline results in a recurrent or metastatic cervical cancer trial.

Shift4 Payments Inc. (NYSE: FOUR) was started as Buy with a $46 price target (versus a $35.93 close) at SunTrust Robinson Humphrey. Evercore ISI started it as Outperform with a $48 price target.

Spotify Technology S.A. (NYSE: SPOT) was started as Neutral with a $270 price target at Citigroup.

Square Inc. (NYSE: SQ) was started with a Market Perform rating at JMP Securities.

2U Inc. (NASDAQ: TWOU) was reiterated as Buy and its price target was raised to $50 from $28 (versus a $36.88 close) at Citigroup. Its consensus price target was $34.64.

UGI Corp. (NYSE: UGI) was reiterated as Buy with a $53 price target (versus a $31.62 close) at Janney. The firm noted that the midstream player has superior positioning of pipelines if Chesapeake Energy can’t deliver and the company considers its Marcellus assets as a free cash flow machine with 10 years of drilling inventory at $1.50/mcf to $1.75/mcf breakeven.

Monday’s top analyst upgrades and downgrades included Amazon.com, Beyond Meat, Diamondback Energy, Enphase Energy, Groupon, Nuance Communications, PG&E, Spotify, ZoomInfo, and more.

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