Benzinga's Top Upgrades, Downgrades For July 12, 2019

Top Upgrades

• Citi upgraded Morgan Stanley (NYSE: MS) from Neutral to Buy. Morgan Stanley rose 1.2% to $44.70 in pre-market trading.
• Goldman Sachs upgraded Stitch Fix Inc (NASDAQ: SFIX) from Neutral to Buy. Stitch Fix rose 5% to $29.51 in pre-market trading.
• UBS upgraded Deutsche Bank AG (NYSE: DB) from Sell to Neutral. Deutsche Bank shares rose 0.7% to $7.53 in pre-market trading.
• Analysts at Jefferies upgraded Sally Beauty Holdings, Inc. (NYSE: SBH) from Underperform to Hold. Sally Beauty shares fell 1% to close at $11.73 on Thursday.
• Goldman Sachs upgraded Snap Inc (NYSE: SNAP) from Neutral to Buy. Snap shares rose 3.5% to $16.11 in pre-market trading.
• Baird upgraded Lincoln Electric Holdings, Inc. (NASDAQ: LECO) from Neutral to Outperform. Lincoln Electric shares fell 1% to $79.89 in pre-market trading.
• JP Morgan upgraded Apellis Pharmaceuticals (NASDAQ: APLS) from Neutral to Overweight. Apellis Pharmaceuticals shares fell 0.4% to $44.54 in pre-market trading.
• Analysts at WBB Securities upgraded RedHill Biopharma Ltd. (NASDAQ: RDHL) from Buy to Strong Buy. Redhill Biopharma rose 3% to $6.84 in pre-market trading.
• Stifel Nicolaus upgraded Rhythm Pharmaceuticals Inc (NASDAQ: RYTM) from Hold to Buy. Rhythm Pharmaceuticals shares fell 5% to close at $20.66 on Thursday.
• Goldman Sachs upgraded Altria Group Inc (NYSE: MO) from Neutral to Buy. Altria shares rose 1.2% to $49.86 in pre-market trading.

Top Downgrades

• Bank of America downgraded Avery Dennison Corp (NYSE: AVY) from Buy to Neutral. Avery Dennison fell 0.2% to $115.06 in pre-market trading.
• Citigroup downgraded Wells Fargo & Co (NYSE: WFC) from Buy to Neutral. Wells Fargo shares rose 0.2% to $47.25 in pre-market trading.
• Seaport Global downgraded Packaging Corp Of America (NYSE: PKG) from Buy to Neutral. Packaging Corp shares fell 0.9% to $98.02 in pre-market trading.
• JP Morgan downgraded Array Biopharma Inc (NASDAQ: ARRY) from Overweight to Neutral. Array BioPharma shares rose 0.1% to close at $46.82 on Thursday.
• Citigroup downgraded Comerica Incorporated (NYSE: CMA) from Neutral to Sell. Comerica shares fell 0.7% to $72.07 in pre-market trading.
• Raymond James downgraded Instructure Inc (NYSE: INST) from Outperform to Market Perform. Instructure shares fell 0.9% to close at $45.20 on Thursday.
• Roth Capital downgraded Himax Technologies, Inc. (NASDAQ: HIMX) from Buy to Neutral. Himax Technologies shares fell 1.5% to $3.30 in pre-market trading.
• Keefe Bruyette & Woods downgraded Charles Schwab Corporation (NYSE: SCHW) from Outperform to Market Perform. Charles Schwab shares rose 2% to close at $40.46 on Thursday.
• Macquarie downgraded Huntington Bancshares Incorporated (NASDAQ: HBAN) from Neutral to Underperform. Huntington Bancshares shares fell 0.6% to $13.78 in pre-market trading.
• Bank of America downgraded Illumina, Inc. (NASDAQ: ILMN) from Buy to Underperform. Illumina shares fell 14.8% to $310.00 in pre-market trading.

Top Initiations

• Macquarie initiated coverage on Clarus Corp (NASDAQ: CLAR) with an Outperform rating. Clarus shares closed at $13.78 on Thursday.
• Credit Suisse initiated coverage on Johnson & Johnson (NYSE: JNJ) with an Outperform rating. The price target for Johnson & Johnson is set to $156. Johnson & Johnson shares closed at $140.11 on Thursday.
• Analysts at Susquehanna initiated coverage on Boot Barn Holdings Inc (NYSE: BOOT) with a Neutral rating. The price target for Boot Barn is set to $35. Boot Barn shares closed at $35.10 on Thursday.
• Analysts at Berenberg initiated coverage on Axalta Coating Systems Ltd (NYSE: AXTA) with a Buy rating. The price target for Axalta Coating is set to $35. Axalta Coating shares closed at $29.38 on Thursday.
• RBC Capital initiated coverage on Synovus Financial Corp. (NYSE: SNV) with an Outperform rating. The price target for Synovus Financial is set to $42. Synovus Financial shares closed at $34.86 on Thursday.
• Analysts at Raymond James initiated coverage on Ameris Bancorp (NASDAQ: ABCB) with an Outperform rating. The price target for Ameris Bancorp is set to $45. Ameris Bancorp shares closed at $38.60 on Thursday.
• Analysts at Oppenheimer initiated coverage on Fate Therapeutics Inc (NASDAQ: FATE) with an Outperform rating. The price target for Fate Therapeutics is set to $27. Fate Therapeutics shares closed at $20.45 on Thursday.
• DA Davidson initiated coverage on Sterling Bancorp (NYSE: STL) with a Buy rating. The price target for Sterling Bancorp is set to $25. Sterling Bancorp shares closed at $21.19 on Thursday.
• Stephens & Co. initiated coverage on Slack Technologies Inc (NYSE: WORK) with an Overweight rating. The price target for Slack is set to $43. Slack closed at $35.00 on Thursday.
• KeyBanc initiated coverage on LivePerson, Inc. (NASDAQ: LPSN) with an Overweight rating. The price target for LivePerson is set to $36. LivePerson shares closed at $29.49 on Thursday.