Aflac (AFL) was upgraded to overweight from neutral at JPMorgan. $75 price target. Consensus estimates have come down to a reasonable level and business in Japan remains strong, JPMorgan said.
Lumentum (LITE) was downgraded to neutral from buy at MKM Partners. $50 price target. The company appears to be losing market share in China, MKM said.
Terex (TEX) was upgraded to buy at Deutsche Bank. $37 price target. A pullback has created an attractive entry point, Deutsche said.
Tri Pointe (TPH) was downgraded to hold at Deutsche Bank. $13 price target. The company has yet to monetize WRECO assets, Deutsche said.
Tesla (TSLA) was downgraded to sell from neutral at Goldman Sachs. $185 price target. The Model 3 launch will likely be delayed, leading to higher free cash flow burn, Goldman said.
Under Armour (UAA) was downgraded to reduce from neutral at Nomura. $16 price target. The valuation is unattractive, as growth is maturing, Nomura said.
Urban Outfitters (URBN) was downgraded to sell at MKM Partners. $20 price target. Expect sales and margins to deteriorate at Anthropologie, MKM said.