Benzinga's Top Upgrades, Downgrades For December 23, 2016

Top Upgrades

• Analysts at Monness Crespi Hardt upgraded Skechers USA Inc (NYSE: SKX) from Neutral to Buy. Skechers USA shares fell 4.30 percent to close at $24.05 on Thursday.

Top Downgrades

• Argus Research downgraded Sun Life Financial Inc (NYSE: SLF) from Buy to Hold. Sun Life Financial shares fell 1.13 percent to close at $38.65 on Thursday.
• Analysts at Brean Capital downgraded Time Warner Inc (NYSE: TWX) from Buy to Hold. Time Warner shares rose 0.49 percent to close at $96.46 on Thursday.

Top Initiations

• Analysts at Aegis Capital initiated coverage on FedEx Corporation (NYSE: FDX) with a Buy rating. The price target for FedEx is set to $215. FedEx shares closed at $190.89 on Thursday.
• Analysts at Mizuho initiated coverage on Zynga Inc (NASDAQ: ZNGA) with a Buy rating. The price target for Zynga is set to $3.50. Zynga shares closed at $2.56 on Thursday.
• Analysts at Aegis Capital initiated coverage on Navistar International Corp (NYSE: NAV) with a Buy rating. The price target for Navistar is set to $36. Navistar shares closed at $30.93 on Thursday.
• Analysts at Mizuho initiated coverage of GameStop Corp. (NYSE: GME) with a Buy rating. The price target for GameStop is set to $35. GameStop shares closed at $25.06 on Thursday.
• Analysts at Aegis Capital initiated coverage on United Parcel Service, Inc. (NYSE: UPS) with a Neutral rating. The price target for United Parcel Service is set to $120. United Parcel Service shares closed at $116.30 on Thursday.
• Analysts at Jefferies initiated coverage on Orbotech Ltd (NASDAQ: ORBK) with a Buy rating. The price target for Orbotech is set to $41. Orbotech shares closed at $32.76 on Thursday.
• Analysts at Aegis Capital initiated coverage on Titan International Inc (NYSE: TWI) with a Buy rating. The price target for Titan International is set to $15. Titan International shares closed at $11.03 on Thursday.