Benzinga's Top Upgrades, Downgrades For September 17, 2018

Top Upgrades

• Raymond James upgraded Bed Bath & Beyond Inc. BBBY from Underperform to Market Perform. Bed Bath & Beyond shares rose 3.49 percent to $18.70 in pre-market trading.
• Bank of America upgraded NXP Semiconductors NV NXPI from Neutral to Buy. NXP Semiconductors shares climbed 1.39 percent to $94.05 in pre-market trading.
• BTIG Research upgraded Teva Pharmaceutical Industries Ltd (ADR) TEVA from Sell to Neutral. Teva shares rose 7.13 percent to $24.48 in pre-market trading.
• Nomura upgraded Broadcom Inc AVGO from Neutral to Buy. Broadcom shares rose 1.23 percent to $239.25 in pre-market trading.
• Evercore ISI Group upgraded Macerich Co MAC from In-Line to Outperform. Macerich shares fell 0.55 percent to close at $56.51 on Friday.
• B. Riley FBR upgraded Malibu Boats Inc MBUU from Neutral to Buy. Malibu Boats & Payne shares rose 2.34 percent to $54.25 in pre-market trading.
• JP Morgan upgraded Federated Investors Inc FII from Underweight to Neutral. Federated Investors shares rose 2.56 percent to close at $23.64 on Friday.
• Stephens & Co. upgraded American Express Company AXP from Equal-Weight to Overweight. American Express shares rose 0.9 percent to $110.55 in pre-market trading.
• Analysts at Susquehanna upgraded Pioneer Natural Resources PXD from Neutral to Positive. Pioneer Natural shares rose 0.67 percent to $171.57 in pre-market trading.
• HSBC upgraded Gerdau SA (ADR) GGB from Hold to Buy. Gerdau shares rose 0.96 percent to close at $3.67 on Friday.

Top Downgrades

• Barclays downgraded Costco Wholesale Corporation COST from Overweight to Equal-Weight. Costco shares fell 0.69 percent to $233.75 in pre-market trading.
• BMO Capital downgraded Hormel Foods Corp HRL from Outperform to Market Perform. Hormel shares closed at $41.90 on Friday.
• Stephens & Co. downgraded Alliance Data Systems Corporation ADS from Overweight to Equal-Weight. Alliance Data shares rose 0.42 percent to $242.50 in pre-market trading.
• Bank of America downgraded Microchip Technology Inc. MCHP from Buy to Neutral. Microchip shares fell 1.91 percent to $82.00 in pre-market trading.
• Longbow Research downgraded Arconic Inc ARNC from Buy to Neutral. Arconic shares rose 0.80 percent to close at $22.69 on Friday.
• Goldman Sachs downgraded Thermo Fisher Scientific Inc. TMO from Buy to Neutral. Thermo Fisher Scientific shares closed at $241.98 on Friday.
• JMP Securities downgraded Revance Therapeutics Inc RVNC from Market Outperform to Market Perform. Revance Therapeutics shares fell 4.58 percent to $24.50 in pre-market trading.
• Morgan Stanley downgraded Sensata Technologies Holding PLC ST from Equal-Weight to Underweight. Sensata shares rose 1.31 percent to close at $52.72 on Friday.
• Citigroup downgraded LyondellBasell Industries NV LYB from Buy to Neutral. LyondellBasell shares rose 0.35 percent to close at $105.31 on Friday.
• Barclays downgraded Sprouts Farmers Market Inc SFM from Overweight to Equal-Weight. Sprouts Farmers shares rose 1.40 percent to close at $28.22 on Friday.

Top Initiations

• Cowen & Co. initiated coverage on UnitedHealth Group Inc UNH with an Outperform rating. The price target for UnitedHealth is set to $308. UnitedHealth shares closed at $265.31 on Friday.
• Goldman Sachs initiated coverage on Puma Biotechnology Inc PBYI with a Sell rating. The price target for Puma Biotechnology is set to $42. Puma Biotechnology shares closed at $47.00 on Friday.
• Analysts at Northland Securities initiated coverage on Titan Medical Inc. TMDI with an Outperform rating. The price target for Titan Medical is set to $6. Titan Medical shares closed at $1.92 on Friday.
• Citigroup initiated coverage on Reliance Steel & Aluminum Co RS with a Neutral rating. The price target for Reliance Steel is set to $90. Reliance Steel shares closed at $85.47 on Friday.
• Bernstein initiated coverage on Aramark ARMK with an Outperform rating. The price target for Aramark is set to $52. Aramark shares closed at $42.18 on Friday.
• Analysts at Morgan Stanley assumed coverage on Kraft Heinz Co KHC with an Underweight rating. The price target for Kraft Heinz is set to $52. Kraft Heinz shares closed at $58.97 on Friday.
• Macquarie initiated coverage on Redfin Corp RDFN with a Neutral rating. The price target for Redfin is set to $20. Redfin shares closed at $19.30 on Friday.
• Analysts at Cowen & Co. initiated coverage on CIGNA Corporation CI with an Outperform rating. The price target for CIGNA is set to $240. CIGNA closed at $195.11 on Friday.
• Credit Suisse initiated Stanley Black & Decker, Inc. SWK with an Outperform rating. The price target for Stanley Black & Decker is set to $170. Stanley Black & Decker shares closed at $148.34 on Friday.
• Analysts at Evercore ISI Group initiated coverage on American States Water Co AWR with an Underperform rating. The price target for American States Water is set to $54. American States Water closed at $61.40 on Friday.