Benzinga's Top Upgrades, Downgrades For January 2, 2019

Top Upgrades

• Baird upgraded SunTrust Banks, Inc. (NYSE:STI) from Neutral to Outperform. SunTrust shares fell 1 percent to $49.96 in pre-market trading.
• Stephens upgraded CBS Corporation (NYSE:CBS) from Equal-Weight to Overweight. CBS shares rose 0.1 percent to $43.76 in pre-market trading.
• UBS upgraded Caesars Entertainment Corporation (NASDAQ:CZR) from Sell to Neutral. Caesars rose 0.2 percent to $6.80 in pre-market trading.
• Susquehanna upgraded Crocs, Inc. (NASDAQ:CROX) from Neutral to Positive. Crocs shares rose 0.3 percent to $26.05 in pre-market trading.
• Citigroup upgraded Zimmer Biomet Holdings Inc (NYSE:ZBH) from Neutral to Buy. Zimmer Biomet fell 0.7 percent to $103.00 in pre-market trading.
• RBC Capital upgraded Wells Fargo & Co (NYSE:WFC) from Underperform to Sector Perform. Wells Fargo shares fell 1.3 percent to $45.50 in pre-market trading.
• Analysts at JP Morgan upgraded Sirius XM Holdings Inc (NASDAQ:SIRI) from Underweight to Overweight. Sirius XM shares rose 0.4 percent to $5.73 in pre-market trading.
• Morgan Stanley upgraded Baxter International Inc (NYSE:BAX) from Equal-Weight to Overweight. Baxter shares fell 0.8 percent to $65.30 in pre-market trading.
• Evercore ISI Group upgraded Stryker Corporation (NYSE:SYK) from In-Line to Outperform. Stryker shares gained 1.12 percent to close at $156.75 on Monday.
• Citigroup upgraded Estee Lauder Companies Inc (NYSE:EL) from Neutral to Buy. Estee Lauder shares rose 1.2 percent to close at $130.10 on Monday.

Top Downgrades

• Citigroup downgraded Abbott Laboratories (NYSE:ABT) from Neutral to Sell. Abbott shares dropped 2.7 percent to $70.39 in pre-market trading.
• Morgan Stanley downgraded Hologic, Inc. (NASDAQ:HOLX) from Equal-Weight to Underweight. Hologic shares fell 4 percent to $39.45 in pre-market trading.
• Raymond James downgraded Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) from Market Outperform to Market Perform. Vertex Pharmaceuticals shares gained 2.66 percent to close at $165.71 on Monday.
• JP Morgan downgraded AFLAC Incorporated (NYSE:AFL) from Overweight to Neutral. Aflac shares dropped 2.1 percent to $44.60 in pre-market trading.
• Citigroup downgraded Medtronic PLC (NYSE:MDT) from Buy to Neutral. Medtronic shares fell 1.1 percent to $90.00 in pre-market trading.
• Raymond James downgraded BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) from Market Outperform to Market Perform. Biomarin Pharmaceutical shares dropped 2.3 percent to $83.16 in pre-market trading.
• JP Morgan downgraded Flex Ltd (NASDAQ:FLEX) from Overweight to Neutral. Flex shares fell 0.13 percent to close at $7.61 on Monday.
• Cowen & Co. downgraded Akamai Technologies, Inc. (NASDAQ:AKAM) from Outperform to Market Perform. Akamai Technologies shares closed at $61.08 on Monday.
• Baird downgraded Henry Schein, Inc. (NASDAQ:HSIC) from Outperform to Neutral. Henry Schein shares fell 2.5 percent to $76.60 in pre-market trading.
• Bank of America downgraded CyrusOne Inc (NASDAQ:CONE) from Buy to Neutral. CyrusOne shares rose 1.21 percent to close at $52.88 on Monday.

Top Initiations

• Analysts at Canaccord Genuity initiated coverage on Paratek Pharmaceuticals Inc (NASDAQ:PRTK) with a Buy rating. The price target for Paratek Pharmaceuticals is set to $14. Paratek Pharmaceuticals closed at $5.13 on Monday.
• Barclays initiated coverage on Moderna Inc (NASDAQ:MRNA) with an Overweight rating. The price target for Moderna is set to $20. Moderna shares closed at $15.27 on Monday.
• Leerink Swann initiated coverage on Medidata Solutions Inc (NASDAQ:MDSO) with a Market Perform rating. Medidata shares closed at $67.42 on Monday.
• Canaccord Genuity initiated coverage on Insmed Incorporated (NASDAQ:INSM) with a Buy rating. The price target for Insmed is set to $20. Insmed shares closed at $13.12 on Monday.
• Morgan Stanley initiated coverage on Moderna Inc (NASDAQ:MRNA) with an Overweight rating. The price target for Moderna is set to $29. Moderna shares closed at $15.27 on Monday.