Benzinga's Top Upgrades, Downgrades For May 22, 2019

Top Upgrades

• Evercore ISI Group upgraded Legg Mason Inc LM from Underperform to In-Line. Legg Mason shares rose 3.5 percent to close at $36.89 on Tuesday.
• Analysts at Bank of America upgraded Telefonaktiebolaget LM Ericsson ERIC from Neutral to Buy. Ericsson rose 1.6 percent to $9.85 in pre-market trading.
• Analysts at DA Davidson upgraded Redfin Corp RDFN from Underperform to Neutral. Redfin shares rose 0.3 percent to $17.55 in pre-market trading.
• Cowen & Co. upgraded Covenant Transportation Group, Inc. CVTI from Market Perform to Outperform. Covenant Transportation shares fell 1.2 percent to close at $17.07 on Tuesday.
• Piper Jaffray upgraded Diamond Offshore Drilling Inc DO from Underweight to Neutral. Diamond Offshore shares rose 0.8 percent to $9.72 in pre-market trading.
• Imperial Capital upgraded FLIR Systems, Inc. FLIR from In-Line to Outperform. FLIR Systems rose 1.5 percent to $50.40 in pre-market trading.
• Cowen & Co. upgraded ArcBest Corp ARCB from Market Perform to Outperform. ArcBest shares fell 1 percent to close at $27.77 on Tuesday.

Top Downgrades

• RBC Capital downgraded Franco Nevada Corp FNV from Outperform to Sector Perform. Franco-Nevada shares fell 0.5 percent to $75.54 in pre-market trading.
• Cowen & Co. downgraded Anadarko Petroleum Corporation APC from Outperform to Market Perform. Anadarko Petroleum shares fell 0.5 percent to $72.44 in pre-market trading.
• Stephens & Co. downgraded Activision Blizzard, Inc. ATVI from Overweight to Equal-Weight. Activision shares fell 2 percent to $42.60 in pre-market trading.
• Raymond James downgraded Zayo Group Holdings Inc ZAYO from Outperform to Market Perform. Zayo shares rose 0.1 percent to close at $32.74 on Monday.
• Jefferies downgraded Mallinckrodt PLC MNK from Buy to Hold. Mallinckrodt shares fell 1.7 percent to $9.70 in pre-market trading.

Top Initiations

• Analysts at SVB Leerink initiated coverage on Ra Pharmaceuticals Inc RARX with an Outperform rating. The price target for Ra Pharmaceuticals is set to $33. Ra Pharmaceuticals shares closed at $23.30 on Tuesday.
• Cowen & Co. initiated coverage on Vishay Intertechnology VSH with a Market Perform rating. The price target for Vishay Intertechnology is set to $17. Vishay Intertechnology shares closed at $16.44 on Tuesday.
• FIG Partners initiated coverage on Red River Bancshares Inc RRBI with an Outperform rating. The price target for Red River Bancshares is set to $60. Red River Bancshares shares closed at $49.50 on Tuesday.
• Cowen & Co. initiated coverage on Littelfuse, Inc. LFUS with an Outperform rating. The price target for Littelfuse is set to $210. Littelfuse shares closed at $170.82 on Tuesday.
• Analysts at Piper Jaffray initiated coverage on Titan Medical Inc. TMDI with an Overweight rating. The price target for Titan Medical is set to $6. Titan Medical shares closed at $2.71 on Tuesday.
• Piper Jaffray initiated coverage on Transenterix Inc TRXC with a Neutral rating. The price target for Transenterix is set to $1.60. Transenterix closed at $1.26 on Tuesday.
• Analysts at Cowen & Co. initiated coverage on Semtech Corporation SMTC with an Outperform rating. The price target for Semtech is set to $56. Semtech closed at $44.76 on Tuesday.
• Sandler O'Neill initiated coverage on Horace Mann Educators Corporation HMN with a Buy rating. The price target for Horace Mann Educators is set to $46. Horace Mann Educators shares closed at $39.75 on Tuesday.