Benzinga's Top Upgrades, Downgrades For June 28, 2019

Top Upgrades

• Morgan Stanley upgraded Chesapeake Energy Corporation CHK from Equal-Weight to Overweight. Chesapeake Energy shares rose 3.2% to $1.94 in pre-market trading.
• Oppenheimer upgraded AutoZone, Inc. AZO from Perform to Outperform. AutoZone fell 0.2% to close at $1,084.08 on Thursday.
• Analysts at Goldman Sachs upgraded Procter & Gamble Co PG from Neutral to Buy. Procter & Gamble rose 1.4% to $111.35 in pre-market trading.
• Raymond James upgraded KB Home KBH from Underperform to Market Perform. KB Home shares rose 0.1% to $25.40 in pre-market trading.
• Needham upgraded Smart Global Holdings Inc SGH from Hold to Buy. SMART Global fell 5.1% to $20.43 in pre-market trading.
• Analysts at Janney Capital upgraded Avid Bioservices Inc CDMO from Neutral to Buy. Avid Bioservices shares rose 16.3% to $4.65 in pre-market trading.
• RBC Capital upgraded Office Properties Income Trust OPI from Underperform to Sector Perform. Office Props IT shares rose 3.1% to close at $25.16 on Thursday.
• Goldman Sachs upgraded Burberry Group plc BURBY from Sell to Neutral. Burberry shares rose 1.9% to close at $22.76 on Thursday.
• National Bank Financial upgraded Yamana Gold Inc. AUY from Sector Perform to Outperform. Yamana Gold rose 2.4% to $2.53 in pre-market trading.

Top Downgrades

• Piper Jaffray downgraded Biogen Inc BIIB from Overweight to Neutral. Biogen shares fell 1.5% to $236.10 in pre-market trading.
• Cantor Fitzgerald downgraded Arrowhead Pharmaceuticals Inc ARWR from Overweight to Neutral. Arrowhead Pharmaceuticals shares fell 2% to $28.25 in pre-market trading.
• Stephens & Co. downgraded Darden Restaurants, Inc. DRI from Overweight to Equal-Weight. Darden Restaurants shares rose 0.2% to $121.75 in pre-market trading.
• Citigroup downgraded Live Nation Entertainment, Inc. LYV from Neutral to Sell. Live Nation Entertainment fell 0.1% to $66.91 in pre-market trading.
• Janney Capital downgraded Unitil Corporation UTL from Buy to Neutral. Unitil shares fell 0.4% to close at $59.79 on Thursday.
• JP Morgan downgraded Sogou Inc SOGO from Neutral to Underweight. Sogou shares fell 3.5% to $4.12 in pre-market trading.
• H.C. Wainwright downgraded Hydrogenics Corporation HYGS from Buy to Neutral. Hydrogenics shares fell 3.2% to $15.00 in pre-market trading.
• Stephens & Co. downgraded Wingstop Inc WING from Overweight to Equal-Weight. Wingstop shares fell 1.8% to $93.00 in pre-market trading.
• Needham downgraded Inogen Inc INGN from Strong Buy to Buy. Inogen shares rose 1.8% to close at $65.49 on Thursday.
• Northcoast Research downgraded CarMax, Inc KMX from Buy to Neutral. CarMax shares fell 0.4% to $86.50 in pre-market trading.

Top Initiations

• Canaccord Genuity initiated coverage on Aerojet Rocketdyne Holdings Inc AJRD with a Buy rating. The price target for Aerojet Rocketdyne is set to $50. Aerojet Rocketdyne closed at $43.18 on Thursday.
• Analysts at Deutsche Bank initiated coverage on BJ's Restaurants, Inc. BJRI with a Buy rating. The price target for BJ's Restaurants is set to $51. BJ's Restaurants closed at $43.00 on Thursday.
• Analysts at Cantor Fitzgerald initiated coverage on StoneCo Ltd STNE with an Overweight rating. The price target for StoneCo is set to $33. StoneCo shares closed at $28.80 on Thursday.
• Nomura initiated coverage on Rapid7 Inc RPD with a Buy rating. The price target for Rapid7 is set to $70. Rapid7 shares closed at $55.79 on Thursday.
• Evercore ISI Group initiated coverage on Plantronics Inc PLT with an Outperform rating. The price target for Plantronics is set to $50. Plantronics shares closed at $36.17 on Thursday.
• Oppenheimer initiated coverage on Novocure Ltd NVCR with an Outperform rating. The price target for Novocure is set to $75. Novocure shares closed at $60.85 on Thursday.
• Analysts at Deutsche Bank initiated coverage on Texas Roadhouse Inc TXRH with a Hold rating. The price target for Texas Roadhouse is set to $56. Texas Roadhouse shares closed at $54.42 on Thursday.
• Analysts at MKM Partners initiated coverage on Diamondback Energy Inc FANG with a Buy rating. Diamondback Energy shares closed at $107.49 on Thursday.
• Wells Fargo initiated coverage on Evolus Inc EOLS with a Market Perform rating. The price target for Evolus is set to $16. Evolus closed at $14.37 on Thursday.
• Guggenheim initiated coverage on Alteryx Inc AYX with a Buy rating. Alteryx shares closed at $107.53 on Thursday.