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

Top Upgrades

• Analysts at Raymond James upgraded Square Inc (NYSE: SQ) from Underperform to Market Perform. Square rose 1% to $74.15 in pre-market trading.
• Wells Fargo upgraded Six Flags Entertainment Corp (NYSE: SIX) from Market Perform to Outperform. Six Flags rose 0.7% to $52.65 in pre-market trading.
• Stephens & Co. upgraded FB Financial Corp (NYSE: FBK) from Equal-Weight to Overweight. FB Financial fell 1% to close at $36.54 on Monday.
• Bank of America upgraded VEON Ltd (NASDAQ: VEON) from Neutral to Buy. VEON shares rose 1.9% to $3.17 in pre-market trading.
• Stephens & Co. upgraded First Merchants Corporation (NASDAQ: FRME) from Equal-Weight to Overweight. First Merchants shares fell 1.7% to close at $37.57 on Monday.
• Analysts at National Securities upgraded Sonim Technologies Inc (NASDAQ: SONM) from Neutral to Buy. Sonim Technologies shares fell 1.6% to close at $11.38 on Monday.

Top Downgrades

• RBC Capital downgraded 3M Co (NYSE: MMM) from Outperform to Sector Perform. 3M fell 1.3% to $166.99 in pre-market trading.
• JP Morgan downgraded Marriott International Inc (NASDAQ: MAR) from Overweight to Neutral. Marriott shares fell 0.5% to close at $141.30 on Monday.
• Stephens & Co. downgraded Triumph Bancorp Inc (NASDAQ: TBK) from Overweight to Equal-Weight. Triumph Bancorp shares fell 0.9% to close at $28.84 on Monday.
• Macquarie downgraded Alcoa Corp (NYSE: AA) from Outperform to Neutral. Alcoa shares fell 1.5% to $21.97 in pre-market trading.
• Oppenheimer downgraded QEP Resources Inc (NYSE: QEP) from Outperform to Perform. QEP Resources shares fell 0.6% to close at $7.25 on Monday.
• Cowen & Co. downgraded Myriad Genetics, Inc. (NASDAQ: MYGN) from Outperform to Market Perform. Myriad Genetics shares fell 2.1% to $26.64 in pre-market trading.
• JP Morgan downgraded Hilton Hotels Corporation (NYSE: HLT) from Overweight to Neutral. Hilton Worldwide shares fell 0.4% to close at $100.19 on Monday.
• Stephens & Co. downgraded Pinnacle Financial Partners (NASDAQ: PNFP) from Overweight to Equal-Weight. Pinnacle Financial shares rose 0.3% to $56.77 in pre-market trading.
• Citi downgraded Leidos Holdings Inc (NYSE: LDOS) from Buy to Neutral. Leidos shares fell 0.5% to $81.00 in pre-market trading.

Top Initiations

• Wells Fargo initiated coverage on Chewy Inc (NYSE: CHWY) with an Outperform rating. The price target for Chewy is set to $40. Chewy shares closed at $34.40 on Monday.
• Stephens & Co. initiated coverage on ESCO Technologies Inc. (NYSE: ESE) with an Equal-Weight rating. The price target for ESCO Technologies is set to $87. ESCO Technologies shares closed at $81.86 on Monday.
• Analysts at Stifel initiated coverage on AAR Corp. (NYSE: AIR) with a Buy rating. The price target for AAR is set to $50. AAR shares closed at $37.66 on Monday.
• Analysts at Oppenheimer initiated coverage on Slack Technologies Inc (NYSE: WORK) with a Perform rating. Slack shares closed at $35.00 on Monday.
• Bank of America initiated coverage on NextCure Inc (NASDAQ: NXTC) with a Buy rating. NextCure shares closed at $15.73 on Monday.
• Analysts at Baird initiated coverage on Intellia Therapeutics Inc (NASDAQ: NTLA) with an Outperform rating. The price target for Intellia Therapeutics is set to $23. Intellia Therapeutics shares closed at $15.68 on Monday.
• Analysts at Longbow Research initiated coverage on Microchip Technology Inc. (NASDAQ: MCHP) with a Neutral rating. Microchip shares closed at $87.93 on Monday.
• Stephens & Co. initiated coverage on Hubbell Incorporated (NYSE: HUBB) with an Overweight rating. The price target for Hubbell is set to $140. Hubbell shares closed at $128.86 on Monday.
• Oppenheimer initiated coverage on Apellis Pharmaceuticals Inc (NASDAQ: APLS) with an Outperform rating. The price target for Apellis Pharmaceuticals is set to $52. Apellis Pharmaceuticals closed at $25.92 on Monday.
• Morgan Stanley initiated coverage on Chewy Inc (NYSE: CHWY) with an Equal-Weight rating. The price target for Chewy is set to $33. Chewy shares closed at $34.40 on Monday.