Benzinga's Top Upgrades, Downgrades For May 25, 2017

Top Upgrades

• Analysts at Cowen & Co. upgraded Puma Biotechnology Inc PBYI from Market Perform to Outperform. Puma Biotechnology shares gained 2.87 percent to $77.10 in pre-market trading.
• FBR Capital upgraded Metlife Inc MET from Market Perform to Outperform. MetLife shares rose 0.02 percent to close at $50.52 on Wednesday.
• Analysts at Argus upgraded Chipotle Mexican Grill, Inc. CMG from Hold to Buy. Chipotle shares rose 1.12 percent to $484.15 in pre-market trading.
• Analysts at Credit Suisse upgraded NetApp Inc. NTAP from Underperform to Neutral. NetApp shares dropped 2.68 percent to $38.50 in pre-market trading.
• JP Morgan upgraded PVH Corp PVH from Neutral to Overweight. PVH shares rose 5.11 percent to $107.25 in pre-market trading.
• Analysts at Evercore ISI Group upgraded Lexington Realty Trust LXP from Hold to Outperform. Lexington Realty shares rose 0.84 percent to close at $9.64 on Wednesday.
• JP Morgan upgraded Federated Investors Inc FII from Underweight to Neutral. Federated Investors shares gained 0.20 percent to close at $25.68 on Wednesday.
• Morgan Stanley upgraded Alexion Pharmaceuticals, Inc. ALXN from Equal-Weight to Overweight. Alexion Pharmaceuticals shares rose 2.78 percent to $103.89 in pre-market trading.

Top Downgrades

• Stifel Nicolaus downgraded Paypal Holdings Inc PYPL from Buy to Hold. PayPal shares fell 0.69 percent to $50.70 in pre-market trading.
• KeyBanc downgraded MAXIMUS, Inc. MMS from Overweight to Sector Weight. Maximus shares rose 0.73 percent to close at $63.70 on Wednesday.
• Citigroup downgraded Etsy Inc ETSY from Buy to Neutral. Etsy shares fell 3.36 percent to $12.95 in pre-market trading.
• Mizuho downgraded Hortonworks Inc HDP from Buy to Neutral. Hortonworks shares gained 10.45 percent to close at $13.84 on Wednesday.
• Barclays downgraded Ameren Corp AEE from Overweight to Equal-Weight. Ameren shares fell 0.57 percent to close at $56.14 on Wednesday.

Top Initiations

• Analysts at Nomura initiated coverage of Akamai Technologies, Inc. AKAM with a Neutral rating. The price target for Akamai Technologies is set to $50. Akamai Technologies shares closed at $47.62 on Wednesday.
• Stephens & Co initiated coverage of ServiceNow Inc NOW with an Overweight rating. The price target for ServiceNow is set to $120. ServiceNow shares closed at $103.00 on Wednesday.
• Analysts at JMP Securities initiated coverage on Clearside Biomedical Inc CLSD with a Market Outperform rating. The price target for Clearside Biomedical is set to $21. Clearside Biomedical shares closed at $7.54 on Wednesday.
• Raymond James initiated coverage on Viveve Medical Inc VIVE with an Outperform rating. The price target for Viveve Medical is set to $10. Viveve Medical shares closed at $6.95 on Wednesday.
• Analysts at Citigroup initiated coverage on NCS Multistage Holdings Inc NCSM with a Buy rating. NCS Multistage shares closed at $24.77 on Wednesday.
• Analysts at Piper Jaffray initiated coverage on Kellogg Company K with an Overweight rating. The price target for Kellogg is set to $78. Kellogg shares closed at $72.52 on Wednesday.
• Keefe Bruyette & Woods initiated coverage on Pra Group Inc PRAA with an Outperform rating. The price target for Pra Group is set to $40. Pra Group shares closed at $34.75 on Wednesday.
• Oppenheimer initiated coverage on MEI Pharma Inc MEIP with an Outperform rating. The price target for MEI Pharma is set to $6.50. MEI Pharma shares closed at $1.67 on Wednesday.
• Analysts at Bernstein initiated coverage on Rockwell Collins, Inc. COL with an Outperform rating. The price target for Rockwell Collins is set to $129. Rockwell Collins shares closed at $103.96 on Wednesday.
• Piper Jaffray initiated coverage on Philip Morris International Inc. PM with an Overweight rating. The price target for Philip Morris is set to $131. Philip Morris shares closed at $117.43 on Wednesday.