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Friday's Top Analyst Upgrades and Downgrades: Biogen, Broadcom, Cloudflare, Diageo, Eli Lilly, Rio Tinto, Southwest Airlines and More

Biogen Inc. (NASDAQ: BIIB): Wells Fargo resumed coverage of the biotechnology giant with an Equal Weight rating and a $250 price target. The consensus target is a whopping $342.83. The stock closed trading on Thursday at $232.43.

Bristol-Myers Squibb Co. (NYSE: BMY): Wells Fargo resumed coverage with an Equal Weight rating and a $58 price objective. The consensus target is $72.06. The stock closed at $57.54 on Thursday.

Broadcom Inc. (NASDAQ: AVGO): Goldman Sachs raised the $589 price target on the Buy-rated tech giant to $670. The consensus target is $586.37. The shares ended Thursday’s trading session at $583.42. The stock traded almost 7% higher in the premarket after posting strong earnings, raising the dividend and announcing a big share buyback plan.

Cadence Bank (NYSE: CADE): Janney raised its Neutral rating to Buy with a $35 price objective. The consensus target is $35.72. The shares were last seen Thursday at $29.92.

Ciena Corp. (NYSE: CIEN): Goldman Sachs maintained its Buy rating and raised the price target to $78 from $69. The consensus target is $70.87. The stock closed Thursday at $71.93, up over 15% after the company reported stellar earnings and very favorable forward guidance. Shares were flat in premarket trading after Thursday’s big move.

Cloudflare Inc. (NYSE: NET): DZ Bank started coverage of the cybersecurity leader with a Buy rating and a $200 price target. The consensus target is up at $207.71. The last trade on Thursday came in at $150.20, down almost 7% for the day.

Denison Mines Corp. (NYSEAMERICAN: DNN): Zacks has selected this stock as its Bull of the Day. The analyst suggests that it is time for investors to look at uranium stocks. Shares most recently closed at $1.49, and the consensus price target is $2.40, which would be a 52-week high.


Diageo PLC (NYSE: DEO): RBC Capital Markets downgraded the spirits giant to Underperform from Sector Perform. Over the past year, the shares have traded between $153.67 and $213.12, and they have a $225.34 consensus price objective. The stock was last seen on Thursday at $208.06.

Eli Lilly & Co. (NYSE: LLY): Wells Fargo resumed coverage of the pharmaceutical heavyweight with an Equal Weight rating and a $270 target price. The shares have traded as high as $275.87 in the past year but closed at $242.90 on Thursday.

Informatica Inc. (NYSE: INFA): Macquarie started coverage on the tech stock with an Outperform rating and a $40 price target. The consensus target is $40.73, and the stock closed Thursday at $35.00 down almost 4% for the day.

LGI Homes Inc. (NASDAQ: LGIH): Wells Fargo raised the homebuilder to Equal Weight from Underweight and boosted the target price to $160 from $125. The consensus target is $137.75. Thursday’s closing share price was $158.31.

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