Benzinga's Top Upgrades, Downgrades For January 9, 2018

Top Upgrades

• Analysts at Bank of America upgraded Spirit Airlines Incorporated (NYSE:SAVE) from Neutral to Buy. Spirit Airlines shares closed at $43.23 on Monday.
• JP Morgan upgraded Sunoco LP (NYSE:SUN) from Neutral to Overweight. Sunoco shares closed at $29.20 on Monday.
• Bank of America upgraded American Airlines Group Inc (NASDAQ:AAL) from Underperform to Buy. American Airlines rose 1.88 percent to $53.11 in pre-market trading.
• Cowen & Co. upgraded Paypal Holdings Inc (NASDAQ:PYPL) from Market Perform to Outperform. PayPal shares rose 1.14 percent to $79.95 in pre-market trading.
• Analysts at Raymond James upgraded BB&T Corporation (NYSE:BBT) from Market Perform to Outperform. BB&T shares closed at $51.50 on Monday.
• Analysts at Stephens & Co. upgraded Global Payments Inc (NYSE:GPN) from Equal-Weight to Overweight. Global Payments shares closed at $104.18 on Monday.
• Wells Fargo upgraded Axis Capital Holdings Limited (NYSE:AXS) from Underperform to Market Perform. Axis Capital shares closed at $48.90 on Monday.
• Credit Suisse upgraded Carnival Corp (NYSE:CCL) from Neutral to Outperform. Carnival shares rose 1.06 percent to $66.75 in pre-market trading.
• Analysts at Mizuho upgraded Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) from Neutral to Buy. Teva shares rose 1.05 percent to $19.32 in pre-market trading.
• Barclays upgraded Ellie Mae Inc (NYSE:ELLI) from Equal-Weight to Overweight. Ellie Mae shares rose 0.02 percent to close at $89.56 on Monday.

Top Downgrades

• Bank of America downgraded Paychex, Inc. (NASDAQ:PAYX) from Buy to Neutral. Paychex shares closed at $68.28 on Monday.
• Baird downgraded Barracuda Networks Inc (NYSE:CUDA) from Outperform to Neutral. Barracuda shares closed at $27.46 on Monday.
• Analysts at Jefferies downgraded AK Steel Holding Corporation (NYSE:AKS) from Buy to Hold. AK Steel shares dropped 2.41 percent to $6.48 in pre-market trading.
• Analysts at Bank of America downgraded JetBlue Airways Corporation (NASDAQ:JBLU) from Buy to Underperform. JetBlue shares fell 2.21 percent to $20.81 in pre-market trading.
• Guggenheim downgraded Revance Therapeutics Inc (NASDAQ:RVNC) from Buy to Neutral. Revance Therapeutics dropped 3.46 percent to $32.05 in pre-market trading.
• Raymond James downgraded Heartland Financial USA Inc (NASDAQ:HTLF) from Strong Buy to Outperform. Heartland Financial shares closed at $52.95 on Monday.
• Wells Fargo downgraded Allstate Corp (NYSE:ALL) from Outperform to Market Perform. Allstate shares closed at $101.39 on Monday.
• Susquehanna downgraded Under Armour Inc (NYSE:UAA) from Neutral to Negative. Under Armour shares fell 3.94 percent to $15.35 in pre-market trading.
• Barclays downgraded Fortinet Inc (NASDAQ:FTNT) from Overweight to Equal-Weight. Fortinet shares closed at $45.00 on Monday.
• JP Morgan downgraded 8Point3 Energy Partners LP (NASDAQ:CAFD) from Overweight to Neutral. 8point3 Energy Partners shares closed at $15.90 on Monday.

Top Initiations

• Barclays initiated coverage on Casa Systems Inc (NASDAQ:CASA) with an Equal-Weight rating. The price target for Casa Systems is set to $17. Casa Systems shares closed at $19.12 on Monday.
• Keefe Bruyette & Woods initiated coverage on Newmark Group Inc (NASDAQ:NMRK) with a Market Perform rating. The price target for Newmark Group is set to $17. Newmark Group shares closed at $15.56 on Monday.
• Wells Fargo initiated coverage on Westlake Chemical Corporation (NYSE:WLK) with an Equal-Weight rating. The price target for Westlake Chemical is set to $120. Westlake Chemical shares closed at $111.64 on Monday.
• Analysts at Morgan Stanley initiated coverage on Olin Corporation (NYSE:OLN) with an Overweight rating. The price target for Olin is set to $45. Olin Partners shares closed at $38.30 on Monday.
• JMP Securities initiated coverage on BankUnited (NYSE:BKU) with a Market Perform rating. BankUnited shares closed at $40.52 on Monday.
• Analysts at JP Morgan initiated coverage on Genesee & Wyoming Inc (NYSE:GWR) with an Overweight rating. The price target for Genesee & Wyoming is set to $100. Genesee & Wyoming shares closed at $82.61 on Monday.
• Analysts at Noble Financial initiated coverage on Albany International Corp. (NYSE:AIN) with a Hold rating. Albany International shares closed at $63.25 on Monday.
• Goldman Sachs initiated coverage on Canadian Solar Inc. (NASDAQ:CSIQ) with a Neutral rating. The price target for Canadian Solar is set to $19. Canadian Solar shares closed at $17.10 on Monday.
• Analysts at Oppenheimer initiated coverage on Ally Financial Inc (NYSE:ALLY) with an Outperform rating. The price target for Ally Financial is set to $38. Ally Financial shares closed at $29.83 on Monday.
• Analysts at Guggenheim initiated coverage on Ormat Technologies, Inc. (NYSE:ORA) with a Buy rating. The price target for Ormat Technologies is set to $72. Ormat Technologies closed at $65.25 on Monday.