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Top Analyst Upgrades and Downgrades: BioMarin, Checkpoint Software, Cinemark, Fortinet, Palo Alto, Regeneron, Shake Shack, Ventas, Zscaler and More

Elastic N.V. (NYSE: ESTC) was raised to Buy from Neutral at Citigroup. The posted consensus price target is $97.77, and that compares to a Wednesday close of $97.30 after the shares rose over 4%. The stock was up an additional 3% in premarket trading.

Encompass Health Corp. (NYSE: EHC) was started with an Equal Weight rating and a $71 price objective at Barclays. The consensus target price is $87.23. The shares were last seen trading at $62.23 apiece.

Fortinet Inc. (NASDAQ: FTNT) was started with a Hold rating and a $131 price target at Deutsche Bank. The consensus target price is $139.45. The stock closed at $129.51 on Wednesday.

LHC Group Inc. (NASDAQ: LHCG) was started with an Overweight rating at Barclays, which has a $247 price target. The consensus target is $223.80, and the last Wednesday trade came in at $202.79.

Nu Skin Enterprises Inc. (NYSE: NUS) was named as the Bull of the Day at Zacks, which said that a big jump in earnings estimates means this stock deserves a new look. Shares most recently closed at $47.20 and have a consensus price target of $51.71.

Palo Alto Networks Inc. (NYSE: PANW) was started with a Buy rating and a massive $328 price target at Deutsche Bank. The much lower consensus estimate is $269.63, and a Wednesday closing price was $269.48.

Power Integrations Inc. (NASDAQ: POWI) was raised to Market Perform from Underperform at Northland Capital, which also has a $65 price target. The consensus target is $58.30. Shares were last seen trading at $57.30.

Qiagen N.V. (NASDAQ: QGEN) was resumed in coverage with a $60 price target at JPMorgan. The consensus target is $449.80. The final trade on Wednesday was posted at $52.42.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was downgraded to Hold from Buy at Benchmark. Shares have been on a massive run as the company searches for a COVID-19 vaccine with Roche, and they closed Wednesday at $629.63

Shake Shack Inc. (NYSE: SHAK) was raised to Outperform from Neutral at Wedbush. The stock has traded in a wild 52-week range from $30.01 to $105.84. The consensus price target for the fast-food favorite is $51.62. The last trade on Wednesday was reported at $53.92. The stock was up over 3% in the premarket.

Ventas Inc. (NYSE: VTR) was downgraded to Outperform from Strong Buy at Raymond James, where the analysts have set a $45 price objective. The consensus target is just $35.06. The last trade Wednesday hit the tape at $40.37.

Wheaton Precious Metals Corp. (NYSE: WPM) was downgraded to Market Perform from Outperform at BMO Capital Markets. The consensus price target for the precious metals royalty company is $55.33, and the last trade on Wednesday came in at $51.52 per share.

Zscaler Inc. (NYSE: ZS) was started with a Buy rating and a $171 price target at Deutsche Bank. The consensus target is only $108.09, but the last trade on Wednesday was reported at $128.26.

Note that, despite the massive record market run, portfolio managers remain very bullish.

Wednesday’s top analyst upgrades and downgrades included Agilent Technologies, Cree, Deere, Gilead Sciences, Home Depot, Kohl’s, Nordstrom, Walmart and Walt Disney.