Benzinga's Top Upgrades, Downgrades For June 20, 2017

Top Upgrades

• Analysts at Cowen & Co. upgraded McDonald's Corporation (NYSE: MCD) from Market Perform to Outperform.. McDonald's shares rose 0.43 percent to $153.80 in pre-market trading.
• Buckingham upgraded Fossil Group Inc (NASDAQ: FOSL) from Underperform to Neutral. Fossil shares rose 3.04 percent to $9.50 in pre-market trading.
• Pacific Crest upgraded NVIDIA Corporation (NASDAQ: NVDA) from Underweight to Sector Weight. NVIDIA shares rose 0.65 percent to $158.34 in pre-market trading.
• Analysts at Bank of America upgraded Avery Dennison Corp (NYSE: AVY) from Neutral to Buy. Avery Dennison shares gained 2.16 percent to $88.54 in pre-market trading.
• Goldman Sachs upgraded Simon Property Group Inc (NYSE: SPG) from Neutral to Buy. Simon Property shares gained 0.66 percent to $160.02 in pre-market trading.
• Piper Jaffray upgraded National-Oilwell Varco, Inc. (NYSE: NOV) from Neutral to Overweight. National Oilwell Varco shares fell 1.13 percent to $33.20 in pre-market trading.
• Analysts at Janney Capital upgraded Clovis Oncology Inc (NASDAQ: CLVS) from Neutral to Buy. Clovis Oncology shares rose 0.59 percent to $88.40 in pre-market trading.
• Analysts at Pacific Crest upgraded Marvell Technology Group Ltd. (NASDAQ: MRVL) from Sector Weight to Overweight. Marvell Technology shares gained 3.09 percent to $17.99 in pre-market trading.
• Jefferies upgraded Goodyear Tire & Rubber Co (NASDAQ: GT) from Hold to Buy. Goodyear Tire shares gained 1.46 percent to $34.12 in pre-market trading.
• BMO Capital upgraded EQT Corporation (NYSE: EQT) from Market Perform to Outperform. EQT shares rose 0.92 percent to $54.00 in pre-market trading.

Top Downgrades

• Goldman Sachs downgraded Paychex, Inc. (NASDAQ: PAYX) from Buy to Neutral. Paychex shares fell 1.13 percent to $60.44 in pre-market trading.
• Analysts at Susquehanna downgraded O'Reilly Automotive Inc (NASDAQ: ORLY) from Positive to Neutral. O'Reilly shares slipped 0.44 percent to close at $230.38 on Monday.
• Argus downgraded Cheesecake Factory Inc (NASDAQ: CAKE) from Buy to Hold. Cheesecake Factory shares rose 0.02 percent to $52.75 in pre-market trading.
• Barclays downgraded Cornerstone OnDemand, Inc. (NASDAQ: CSOD) from Equal-Weight to Underweight. Cornerstone OnDemand shares fell 1.65 percent to $36.33 in pre-market trading.
• RBC Capital downgraded Rice Energy Inc (NYSE: RICE) from Outperform to Sector Perform. Rice Energy shares rose 0.16 percent to $24.61 in pre-market trading.
• William Blair downgraded INC Research Holdings Inc (NASDAQ: INCR) from Outperform to Market Perform. INC Research shares gained 1.51 percent to close at $60.65 on Monday.
• Pacific Crest downgraded ON Semiconductor Corp (NASDAQ: ON) from Overweight to Sector Weight. ON Semiconductor shares declined 1.09 percent to $15.48 in pre-market trading.
• Morgan Stanley downgraded Boyd Gaming Corporation (NYSE: BYD) from Overweight to Equal-Weight. Boyd Gaming shares fell 1.17 percent to $25.38 in pre-market trading.
• Analysts at Goldman Sachs downgraded Automatic Data Processing (NASDAQ: ADP) from Buy to Neutral. Automatic Data Processing shares fell 1.54 percent to $102.51 in pre-market trading.
• Credit Suisse downgraded CVR Refining LP (NYSE: CVRR) from Outperform to Neutral. CVR Refining shares declined 1.06 percent to close at $9.35 on Monday.

Top Initiations

• SunTrust Robinson Humphrey initiated coverage on Merit Medical Systems, Inc. (NASDAQ: MMSI) with a Buy rating. The price target for Merit Medical is set to $43. WideOpenWest shares closed at $36.10 on Monday.
• Atlantic Equities initiated coverage on Southwest Airlines Co (NYSE: LUV) with a Neutral rating. The price target for Southwest is set to $71. Southwest shares closed at $60.92 on Monday.
• Johnson Rice initiated coverage of Kosmos Energy Ltd (NYSE: KOS) with a Buy rating. Kosmos Energy shares closed at $5.92 on Monday.
• Analysts at BTIG Research initiated coverage on Galapagos NV (ADR) (NASDAQ: GLPG) with a Buy rating. The price target for Galapagos is set to $98. Galapagos shares closed at $81.77 on Monday.
• Atlantic Equities initiated coverage on United Continental Holdings Inc (NYSE: UAL) with an Overweight rating. The price target for United Continental is set to $100. United Continental shares closed at $78.63 on Monday.
• Guggenheim initiated coverage on Itron, Inc. (NASDAQ: ITRI) with a Buy rating. The price target for Itron is set to $81. Itron shares closed at $69.15 on Monday.
• Analysts at Atlantic Equities initiated coverage of Delta Air Lines, Inc. (NYSE: DAL) with an Overweight rating. The price target for Delta Air is set to $68. Delta Air shares closed at $52.51 on Monday.