Benzinga's Top Upgrades, Downgrades For December 11, 2018

Top Upgrades

• Citigroup upgraded AT&T Inc. (NYSE: T) from Neutral to Buy. AT&T shares rose 1.2 percent to $30.26 in pre-market trading.
• Evercore ISI Group upgraded Nexstar Media Group Inc (NASDAQ: NXST) from In-Line to Outperform. Nexstar Media shares fell 1.06 percent to close at $84.40 on Monday.
• RBC Capital upgraded Reinsurance Group of America Inc (NYSE: RGA) from Sector Perform to Outperform. Reinsurance Group shares fell 0.01 percent to $137.70 in pre-market trading.
• B. Riley FBR upgraded Progressive Corp (NYSE: PGR) from Neutral to Buy. Progressive shares rose 0.36 percent to close at $63.65 on Monday.
• Goldman Sachs upgraded Fiserv Inc (NASDAQ: FISV) from Neutral to Buy. Fiserv fell 0.82 percent to $75.52 in pre-market trading.

Top Downgrades

• Argus downgraded United Natural Foods Inc (NASDAQ: UNFI) from Buy to Hold. United Natural Foods shares rose 0.07 percent to $13.69 in pre-market trading.
• JP Morgan downgraded Pfizer Inc. (NYSE: PFE) from Overweight to Neutral. Pfizer shares rose 1.08 percent to close at $44.40 on Monday.
• Bank of America downgraded Equinor ASA (NYSE: EQNR) from Buy to Neutral. Equinor shares rose 0.5 percent to $23.07 in pre-market trading.
• Evercore ISI Group downgraded Tribune Company (NYSE: TRCO) from Outperform to In-Line. Tribune Media shares rose 0.36 percent to close at $45.15 on Monday.
• Goldman Sachs downgraded WEX Inc (NYSE: WEX) from Buy to Neutral. WEX shares fell 0.49 percent to close at $152.72 on Monday.
• RBC Capital downgraded Travelers Companies Inc (NYSE: TRV) from Outperform to Sector Perform. Travelers shares rose 0.2 percent to $123.22 in pre-market trading.
• Craig-Hallum downgraded Quidel Corporation (NASDAQ: QDEL) from Buy to Hold. Quidel shares fell 1.54 percent to close at $47.98 on Monday.
• B. Riley FBR downgraded NutriSystem Inc. (NASDAQ: NTRI) from Buy to Neutral. Nutrisystem shares fell 0.4 percent to $43.50 in pre-market trading.
• Goldman Sachs downgraded FleetCor Technologies, Inc. (NYSE: FLT) from Buy to Neutral. Fleetcor Technologies shares fell 0.2 percent to $185.60 in pre-market trading.
• Citigroup downgraded NCS Multistage Holdings Inc (NASDAQ: NCSM) from Buy to Neutral. NCS Multistage shares fell 0.3 percent to $6.83 in pre-market trading.

Top Initiations

• Analysts at Guggenheim initiated coverage on Fortinet Inc (NASDAQ: FTNT) with a Neutral rating. The price target for Fortinet is set to $72. Fortinet shares closed at $74.70 on Monday.
• Oppenheimer initiated coverage on Molecular Templates Inc (NASDAQ: MTEM) with an Outperform rating. The price target for Molecular Templates is set to $15. Molecular Templates shares closed at $4.34 on Monday.
• Buckingham initiated coverage on W W Grainger Inc (NYSE: GWW) with a Neutral rating. The price target for Grainger is set to $325. Grainger shares closed at $285.31 on Monday.
• KeyBanc initiated coverage on Lear Corporation (NYSE: LEA) with an Overweight rating. The price target for Lear is set to $178. Lear shares closed at $123.97 on Monday.
• Guggenheim initiated coverage on Okta Inc (NASDAQ: OKTA) with a Buy rating. The price target for Okta is set to $79. Okta shares closed at $64.55 on Monday.
• Stifel Nicolaus initiated coverage on Stepan Company (NYSE: SCL) with a Buy rating. The price target for Stepan is set to $94. Stepan shares closed at $75.87 on Monday.
• Oppenheimer initiated coverage on Novavax, Inc. (NASDAQ: NVAX) with an Outperform rating. The price target for Novavax is set to $4. Novavax shares closed at $2.14 on Monday.
• KeyBanc initiated coverage on Autoliv Inc. (NYSE: ALV) with an Overweight rating. The price target for Autoliv is set to $105. Autoliv shares closed at $75.53 on Monday.
• Analysts at Guggenheim initiated coverage on Palo Alto Networks Inc (NYSE: PANW) with a Buy rating. The price target for Palo Alto is set to $256. Palo Alto closed at $179.24 on Monday.