Benzinga's Top Upgrades, Downgrades For January 9, 2019

Top Upgrades

• UBS upgraded Bank of America Corp BAC from Neutral to Buy. Bank of America shares gained 0.7 percent to $25.69 in pre-market trading.
• Goldman Sachs upgraded Keurig Dr Pepper Inc KDP from Neutral to Buy. Keurig Dr Pepper shares rose 1.8 percent to $26.35 in pre-market trading.
• Oppenheimer upgraded Wendys Co WEN from Perform to Outperform. Wendy's shares closed at $16.31 on Tuesday.
• UBS upgraded Mastercard Inc MA from Neutral to Buy. Mastercard closed at $192.28 on Tuesday.
• DA Davidson upgraded Diebold Nixdorf Inc DBD from Neutral to Buy. Diebold shares rose 7.1 percent to $3.02 in pre-market trading.
• Evercore ISI Group upgraded Prudential Financial Inc PRU from In-Line to Outperform. Prudential shares closed at $85.50 on Tuesday.
• Credit Suisse upgraded Targa Resources Corp TRGP from Neutral to Outperform. Targa Resources shares rose 1 percent to $43.10 in pre-market trading.
• Barclays upgraded Travelers Companies Inc TRV from Equal-Weight to Overweight. Travelers shares fell 0.4 percent to $117.84 in pre-market trading.
• HSBC upgraded Nike Inc NKE from Hold to Buy. Nike shares fell 0.2 percent to $76.62 in pre-market trading.
• Analysts at Morgan Stanley upgraded Urban Outfitters, Inc. URBN from Equal-Weight to Overweight. Urban Outfitters shares closed at $32.74 on Tuesday.

Top Downgrades

• Imperial Capital downgraded United Continental Holdings Inc UAL from In-Line to Underperform. United Continental shares closed at $82.38 on Tuesday.
• Baird downgraded Nike Inc NKE from Outperform to Neutral. Nike shares fell 0.2 percent to $76.62 in pre-market trading.
• Morgan Stanley downgraded Booking Holdings Inc BKNG from Overweight to Equal-Weight. Booking Holdings shares fell 2.3 percent to $1,649.00 in pre-market trading.
• Wells Fargo downgraded Packaging Corp Of America PKG from Outperform to Market Perform. Packaging Corp shares closed at $89.26 on Tuesday.
• Morgan Stanley downgraded Expedia Group Inc EXPE from Overweight to Equal-Weight. Expedia shares dropped 1.9 percent to $114.75 in pre-market trading.
• Imperial Capital downgraded Delta Air Lines, Inc. DAL from Outperform to In-Line. Delta Air shares fell 0.8 percent to $47.10 in pre-market trading.

Top Initiations

• Atlantic Equities initiated coverage on Workday Inc WDAY with an Overweight rating. The price target for Workday is set to $206. Workday shares closed at $166.95 on Tuesday.
• Analysts at Cowen & Co. initiated coverage on United States Steel Corporation X with a Market Perform rating. The price target for United States Steel is set to $22. United States Steel closed at $20.70 on Tuesday.
• Jefferies initiated coverage on Trex Company Inc TREX with a Hold rating. Trex shares closed at $66.50 on Tuesday.
• Atlantic Equities initiated coverage on Oracle Corporation ORCL with an Underweight rating. The price target for Oracle is set to $45. Oracle closed at $47.88 on Tuesday.
• RBC Capital initiated coverage on PVH Corp PVH with an Outperform rating. The price target for PVH is set to $122. PVH shares closed at $101.35 on Tuesday.
• Guggenheim initiated coverage on PagSeguro Digital Ltd PAGS with a Neutral rating. PagSeguro Digital shares closed at $21.65 on Tuesday.
• Analysts at Atlantic Equities initiated coverage on Adobe Inc ADBE with a Neutral rating. The price target for Adobe is set to $250. Adobe shares closed at $232.68 on Tuesday.
• Analysts at Piper Jaffray initiated coverage on Tilray Inc TLRY with an Overweight rating. The price target for Tilray is set to $90. Tilray closed at $83.26 on Tuesday.
• Stephens & Co. initiated coverage on Callaway Golf Co ELY with an Equal-Weight rating. The price target for Callaway Golf is set to $17. Callaway Golf shares closed at $16.36 on Tuesday.
• Analysts at Cowen & Co. initiated coverage on Reliance Steel & Aluminum Co RS with an Outperform rating. The price target for Reliance Steel is set to $80. Reliance Steel shares closed at $75.14 on Tuesday.