Benzinga's Top Upgrades, Downgrades For January 12, 2017

Top Upgrades

• Societe Generale upgraded Morgan Stanley MS from Sell to Buy. Morgan Stanley shares fell 0.34 percent to $43.52 in pre-market trading.
• Analysts at Citigroup upgraded Noble Corporation Ordinary Shares (UK) NE from Neutral to Buy. Noble shares rose 1.72 percent to $7.69 in pre-market trading.
• Raymond James upgraded Targa Resources Corp TRGP from Market Perform to Outperform. Targa Resources shares rose 0.72 percent to close at $57.43 on Wednesday.
• Bank of America upgraded AmerisourceBergen Corp. ABC from Neutral to Buy. AmerisourceBergen shares fell 3.89 percent to close at $81.53 on Tuesday.
• Analysts at Morgan Stanley upgraded Xerox Corp XRX from Underweight to Overweight. Xerox shares gained 1.43 percent to $7.10 in pre-market trading.
• Analysts at Societe Generale upgraded Bank of America Corp BAC from Hold to Buy. Bank of America shares dropped 0.35 percent to $22.99 in pre-market trading.
• Guggenheim upgraded Merck & Co., Inc. MRK from Neutral to Buy. Merck shares rose 1.41 percent to $62.50 in pre-market trading.
• JP Morgan upgraded Monotype Imaging Holdings Inc. TYPE from Underweight to Neutral. Coca-Cola Monotype Imaging shares rose 2.14 percent to close at $21.45 on Wednesday.
• Analysts at Bank of America upgraded Huntington Ingalls Industries Inc HII from Neutral to Buy. Huntington Ingalls shares rose 0.35 percent to $191.01 in pre-market trading.
• Analysts at Deutsche Bank upgraded Fluor Corporation (NEW) FLR from Hold to Buy. Fluor shares rose 0.08 percent to close at $53.12 on Wednesday.

Top Downgrades

• Pivotal Research downgraded Walt Disney Co DIS from Hold to Sell. Disney shares dropped 1.17 percent to $108.16 in pre-market trading.
• Credit Suisse downgraded United States Steel Corporation X from Outperform to Neutral. United States Steel shares fell 2.33 percent to $34.38 in pre-market trading.
• Deutsche Bank downgraded Aecom ACM from Buy to Hold. AECOM shares fell 0.51 percent to $36.77 in pre-market trading.
• Evercore ISI Group downgraded KB Home KBH from Hold to Sell. KB Home shares fell 0.30 percent to $16.55 in pre-market trading.
• Citigroup downgraded Santander Consumer USA Holdings Inc SC from Buy to Neutral. Santander Consumer shares rose 0.80 percent to close at $13.90 on Wednesday.
• Analysts at Pivotal Research downgraded Twitter Inc TWTR from Buy to Hold. Twitter shares dropped 0.92 percent to $17.14 in pre-market trading.
• Analysts at Bank of America downgraded Kaiser Aluminum Corp. KALU from Neutral to Underperform. Kaiser Aluminum shares fell 0.56 percent to $80.99 in pre-market trading.
• Jefferies downgraded Northrop Grumman Corporation NOC from Buy to Hold. Northrop Grumman shares fell 0.67 percent to close at $231.55 on Wednesday.
• Analysts at Credit Suisse downgraded AK Steel Holding Corporation AKS from Outperform to Neutral. AK Steel shares dropped 2.45 percent to $10.75 in pre-market trading.
• Pivotal Research downgraded Adobe Systems Incorporated ADBE from Buy to Hold. Adobe shares dropped 1.67 percent to $107.17 in pre-market trading.

Top Initiations

• Analysts at RBC Capital initiated coverage of Lockheed Martin Corporation LMT with a Sector Perform rating. The price target for Lockheed Martin is set to $265. Lockheed Martin shares closed at $255.13 on Wednesday.
• Analysts at Summit Redstone Partners initiated coverage on Twilio Inc TWLO with a Buy rating. The price target for Twilio is set to $36. Twilio shares closed at $27.94 on Wednesday.
• Analysts at RBC Capital initiated coverage of Lockheed Martin Corporation LMT with a Sector Perform rating. The price target for Lockheed Martin is set to $265. Lockheed Martin shares closed at $255.13 on Wednesday.
• Analysts at Cowen & Co initiated coverage on HubSpot Inc HUBS with a Market Perform rating. The price target for HubSpot is set to $50. HubSpot shares closed at $52.65 on Wednesday.
• Analysts at Deutsche Bank initiated coverage on America Movil SAB de CV (ADR) AMX with a Sell rating. The price target for America Movil is set to $10. America Movil shares closed at $12.78 on Wednesday.
• Analysts at RBC Capital initiated coverage on Raytheon Company RTN with an Outperform rating. The price target for Raytheon is set to $180. Raytheon shares closed at $146.25 on Wednesday.
• Analysts at Morgan Stanley initiated coverage on Conduent Inc CNDT with an Equal-Weight rating. The price target for Conduent is set to $16. Conduent shares closed at $13.31 on Wednesday.
• Analysts at RBC Capital initiated coverage on United Technologies Corporation UTX with a Sector Perform rating. The price target for United Technologies is set to $118. United Technologies shares closed at $111.00 on Wednesday.