Benzinga | Oct 9, 2020 09:32AM EDT

Benzinga's Top Upgrades, Downgrades For October 9, 2020

Upgrades

* Citigroup upgraded the previous rating for Westlake Chemical Corp (NYSE:WLK) from Neutral to Buy. Westlake Chemical earned $0.11 in the second quarter, compared to $0.92 in the year-ago quarter. The current stock performance of Westlake Chemical shows a 52-week-high of 75.65 and a 52-week-low of 28.99. Moreover, at the end of the last trading period, the closing price was at $67.91.

* For International Paper Co (NYSE:IP), Wells Fargo upgraded the previous rating of Equal-Weight to the current rating Overweight. For the second quarter, International Paper had an EPS of $0.77, compared to year-ago quarter EPS of $1.15. The current stock performance of International Paper shows a 52-week-high of 47.64 and a 52-week-low of 26.38. Moreover, at the end of the last trading period, the closing price was at $42.49.

* According to B of A Securities, the prior rating for Franklin Resources Inc (NYSE:BEN) was changed from Underperform to Buy. In the third quarter, Franklin Resources showed an EPS of $0.70, compared to $0.65 from the year-ago quarter. At the moment, the stock has a 52-week-high of 29.27 and a 52-week-low of 14.91. Franklin Resources closed at $22.32 at the end of the last trading period.

* HC Wainwright & Co. upgraded the previous rating for EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) from Neutral to Buy. For the fourth quarter, EyePoint Pharmaceuticals had an EPS of $0.10, compared to year-ago quarter EPS of $0.11. At the moment, the stock has a 52-week-high of 2.69 and a 52-week-low of 0.46. EyePoint Pharmaceuticals closed at $0.53 at the end of the last trading period.

* Morgan Stanley upgraded the previous rating for Liberty Latin America Ltd (NASDAQ:LILA) from Equal-Weight to Overweight. Liberty Latin America earned $2.16 in the second quarter, compared to $0.64 in the year-ago quarter. At the moment, the stock has a 52-week-high of 19.91 and a 52-week-low of 7.55. Liberty Latin America closed at $9.75 at the end of the last trading period.

* JP Morgan upgraded the previous rating for Rocket Companies Inc (NYSE:RKT) from Neutral to Overweight. Interestingly, in the second quarter, Rocket Companies's EPS was $1.44. The current stock performance of Rocket Companies shows a 52-week-high of 34.4234 and a 52-week-low of 18.31. Moreover, at the end of the last trading period, the closing price was at $22.75.

* For Southwestern Energy Co (NYSE:SWN), Morgan Stanley upgraded the previous rating of Underweight to the current rating Equal-Weight. Southwestern Energy earned $0.00 in the second quarter, compared to $0.08 in the year-ago quarter. The stock has a 52-week-high of 3.9 and a 52-week-low of 1.06. At the end of the last trading period, Southwestern Energy closed at $2.90.

* For Teradyne Inc (NASDAQ:TER), Stifel upgraded the previous rating of Hold to the current rating Buy. For the second quarter, Teradyne had an EPS of $1.33, compared to year-ago quarter EPS of $0.66. The current stock performance of Teradyne shows a 52-week-high of 93.4381 and a 52-week-low of 42.87. Moreover, at the end of the last trading period, the closing price was at $82.48.

* For Wayfair Inc (NYSE:W), William Blair upgraded the previous rating of Market Perform to the current rating Outperform. In the second quarter, Wayfair showed an EPS of $3.13, compared to $1.35 from the year-ago quarter. The current stock performance of Wayfair shows a 52-week-high of 349.082 and a 52-week-low of 21.7. Moreover, at the end of the last trading period, the closing price was at $304.01.

* JP Morgan upgraded the previous rating for Heartland Express Inc (NASDAQ:HTLD) from Underweight to Neutral. In the second quarter, Heartland Express showed an EPS of $0.24, compared to $0.27 from the year-ago quarter. At the moment, the stock has a 52-week-high of 22.75 and a 52-week-low of 15.65. Heartland Express closed at $19.80 at the end of the last trading period.

* JP Morgan upgraded the previous rating for Ryder System Inc (NYSE:R) from Underweight to Neutral. Ryder System earned $0.95 in the second quarter, compared to $1.40 in the year-ago quarter. The stock has a 52-week-high of 57.38 and a 52-week-low of 22.62. At the end of the last trading period, Ryder System closed at $47.21.



Downgrades

* According to Susquehanna, the prior rating for American Express Co (NYSE:AXP) was changed from Positive to Neutral. For the second quarter, American Express had an EPS of $0.29, compared to year-ago quarter EPS of $2.07. The stock has a 52-week-high of 138.13 and a 52-week-low of 67.0. At the end of the last trading period, American Express closed at $106.10.

* According to Bernstein, the prior rating for Amgen Inc (NASDAQ:AMGN) was changed from Outperform to Market Perform. For the second quarter, Amgen had an EPS of $4.25, compared to year-ago quarter EPS of $3.97. The stock has a 52-week-high of 264.97 and a 52-week-low of 177.05. At the end of the last trading period, Amgen closed at $240.09.

* Stifel downgraded the previous rating for VF Corp (NYSE:VFC) from Buy to Hold. VF earned $0.57 in the first quarter, compared to $0.30 in the year-ago quarter. The current stock performance of VF shows a 52-week-high of 100.25 and a 52-week-low of 45.07. Moreover, at the end of the last trading period, the closing price was at $78.33.JP Morgan downgraded the previous rating for QIWI PLC (NASDAQ:QIWI) from Overweight to Neutral. For the second quarter, QIWI had an EPS of $0.63, compared to year-ago quarter EPS of $0.50. The current stock performance of QIWI shows a 52-week-high of 22.2099 and a 52-week-low of 8.62. Moreover, at the end of the last trading period, the closing price was at $17.48.

* Keefe, Bruyette & Woods downgraded the previous rating for Moelis & Co (NYSE:MC) from Outperform to Market Perform. In the second quarter, Moelis & Co showed an EPS of $0.11, compared to $0.56 from the year-ago quarter. At the moment, the stock has a 52-week-high of 41.27 and a 52-week-low of 22.11. Moelis & Co closed at $38.11 at the end of the last trading period.

* JP Morgan downgraded the previous rating for Knight-Swift Transportation Holdings Inc (NYSE:KNX) from Neutral to Underweight. In the second quarter, Knight-Swift showed an EPS of $0.57, compared to $0.58 from the year-ago quarter. At the moment, the stock has a 52-week-high of 47.44 and a 52-week-low of 27.54. Knight-Swift closed at $41.30 at the end of the last trading period.

* JP Morgan downgraded the previous rating for Schneider National Inc (NYSE:SNDR) from Neutral to Underweight. For the second quarter, Schneider National had an EPS of $0.26, compared to year-ago quarter EPS of $0.34. At the moment, the stock has a 52-week-high of 28.13 and a 52-week-low of 15.36. Schneider National closed at $25.61 at the end of the last trading period.

* According to Credit Suisse, the prior rating for Hexcel Corp (NYSE:HXL) was changed from Outperform to Neutral. Hexcel earned $0.08 in the second quarter, compared to $0.94 in the year-ago quarter. The stock has a 52-week-high of 80.57 and a 52-week-low of 24.54. At the end of the last trading period, Hexcel closed at $38.19.



Initiations

* B of A Securities initiated coverage on International Flavors & Fragrances Inc (NYSE:IFF) with a Buy rating. The price target for Intl Flavors & Fragrances is set to $155.00. In the second quarter, Intl Flavors & Fragrances showed an EPS of $1.36, compared to $1.61 from the year-ago quarter. The current stock performance of Intl Flavors & Fragrances shows a 52-week-high of 143.87 and a 52-week-low of 92.14. Moreover, at the end of the last trading period, the closing price was at $116.17.

* Deutsche Bank initiated coverage on Coupa Software Inc (NASDAQ:COUP) with a Buy rating. The price target for Coupa Software is set to $345.00. For the second quarter, Coupa Software had an EPS of $0.21, compared to year-ago quarter EPS of $0.07. The stock has a 52-week-high of 353.55 and a 52-week-low of 99.01. At the end of the last trading period, Coupa Software closed at $291.38.

* Berenberg initiated coverage on 3D Systems Corp (NYSE:DDD) with a Buy rating. The price target for 3D Sys is set to $8.00. For the second quarter, 3D Sys had an EPS of $0.13, compared to year-ago quarter EPS of $0.00. At the moment, the stock has a 52-week-high of 12.56 and a 52-week-low of 4.6. 3D Sys closed at $6.38 at the end of the last trading period.

* With a current rating of Outperform, Wolfe Research initiated coverage on Big Lots Inc (NYSE:BIG). The price target seems to have been set at $61.00 for Big Lots. For the second quarter, Big Lots had an EPS of $2.75, compared to year-ago quarter EPS of $0.53. The current stock performance of Big Lots shows a 52-week-high of 57.24 and a 52-week-low of 10.125. Moreover, at the end of the last trading period, the closing price was at $50.74.

* Tudor Pickering initiated coverage on Darling Ingredients Inc (NYSE:DAR) with a Buy rating. The price target for Darling Ingredients is set to $47.00. For the second quarter, Darling Ingredients had an EPS of $0.39, compared to year-ago quarter EPS of $0.16. At the moment, the stock has a 52-week-high of 40.61 and a 52-week-low of 10.25. Darling Ingredients closed at $40.55 at the end of the last trading period.

* Wolfe Research initiated coverage on Dollar General Corp (NYSE:DG) with an Outperform rating. The price target for Dollar General is set to $250.00. For the second quarter, Dollar General had an EPS of $3.12, compared to year-ago quarter EPS of $1.74. The current stock performance of Dollar General shows a 52-week-high of 219.4 and a 52-week-low of 125.0. Moreover, at the end of the last trading period, the closing price was at $218.94.

* Wolfe Research initiated coverage on Dollar Tree Inc (NASDAQ:DLTR) with a Peer Perform rating. In the second quarter, Dollar Tree showed an EPS of $1.10, compared to $0.76 from the year-ago quarter. At the moment, the stock has a 52-week-high of 119.71 and a 52-week-low of 60.2. Dollar Tree closed at $91.53 at the end of the last trading period.

* Mizuho initiated coverage on 8x8 Inc (NYSE:EGHT) with a Neutral rating. The price target for 8x8 is set to $17.00. For the first quarter, 8x8 had an EPS of $0.07, compared to year-ago quarter EPS of $0.14. The stock has a 52-week-high of 21.57 and a 52-week-low of 10.7. At the end of the last trading period, 8x8 closed at $15.85.

* Loop Capital initiated coverage on Nasdaq Inc (NASDAQ:NDAQ) with a Buy rating. The price target for Nasdaq is set to $145.00. Nasdaq earned $1.54 in the second quarter, compared to $1.22 in the year-ago quarter. The current stock performance of Nasdaq shows a 52-week-high of 137.94 and a 52-week-low of 71.66. Moreover, at the end of the last trading period, the closing price was at $124.60.

* With a current rating of Outperform, Wolfe Research initiated coverage on Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC). The price target seems to have been set at $14.00 for Natural Grocers. In the third quarter, Natural Grocers showed an EPS of $0.21, compared to $0.09 from the year-ago quarter. The current stock performance of Natural Grocers shows a 52-week-high of 17.39 and a 52-week-low of 5.41. Moreover, at the end of the last trading period, the closing price was at $10.77.

* With a current rating of Overweight, Cantor Fitzgerald initiated coverage on Ocugen Inc (NASDAQ:OCGN). The price target seems to have been set at $1.00 for Ocugen. Ocugen earned $0.19 in the second quarter. The current stock performance of Ocugen shows a 52-week-high of 2.73 and a 52-week-low of 0.17. Moreover, at the end of the last trading period, the closing price was at $0.34.

* Mizuho initiated coverage on RingCentral Inc (NYSE:RNG) with a Buy rating. The price target for RingCentral is set to $350.00. In the second quarter, RingCentral showed an EPS of $0.24, compared to $0.21 from the year-ago quarter. The stock has a 52-week-high of 317.8393 and a 52-week-low of 134.85. At the end of the last trading period, RingCentral closed at $281.01.

* With a current rating of Buy, Mizuho initiated coverage on Zoom Video Communications Inc (NASDAQ:ZM). The price target seems to have been set at $550.00 for Zoom Video Communications. In the second quarter, Zoom Video Communications showed an EPS of $0.92, compared to $0.08 from the year-ago quarter. The current stock performance of Zoom Video Communications shows a 52-week-high of 529.74 and a 52-week-low of 60.9675. Moreover, at the end of the last trading period, the closing price was at $478.55.

* Credit Suisse initiated coverage on Signature Bank (NASDAQ:SBNY) with an Outperform rating. The price target for Signature Bank is set to $107.00. In the second quarter, Signature Bank showed an EPS of $2.21, compared to $2.72 from the year-ago quarter. The current stock performance of Signature Bank shows a 52-week-high of 148.64 and a 52-week-low of 68.98. Moreover, at the end of the last trading period, the closing price was at $86.90.