On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AbbVie (ABBV) assumed with an Equal Weight from Overweight at Barclays... Aduro Biotech (ADRO) downgraded to Perform from Outperform at Oppenheimer... CBOE Holdings (CBOE) downgraded to Market Perform from Outperform at Raymond James... CSC (CSC) downgraded to Neutral from Buy at SunTrust... Cummins (CMI) downgraded to Underperform from Buy at BofA/Merrill... Ericsson (ERIC) downgraded to Underperform from Neutral at Credit Suisse... Gold Fields (GFI) downgraded to Sector Perform from Outperform at RBC Capital... Goodrich Petroleum (GDP) downgraded to Sell from Hold at Stifel... Gorman-Rupp (GRC) downgraded to Neutral from Outperform at Boenning & Scattergood... Joy Global (JOY) downgraded to Underperform from Neutral at BofA/Merrill... Newmont Mining (NEM) downgraded to Neutral from Buy at Citi... Progressive (PGR) downgraded to Neutral from Buy at Citi... Rex Energy (REXX) downgraded to Sell from Hold at Stifel... Total (TOT) downgraded to Equal Weight from Overweight at Barclays... Zumiez (ZUMZ) downgraded to Market Perform from Outperform at William Blair.
Eli Lilly assumed with an Overweight from Equal Weight at Barclays Barclays analyst Geoff Meacham upgraded Eli Lilly (LLY) to Overweight after assuming coverage of the name. Good execution for Cyramza and Jardiance should drive continued share outperformance, Meacham tells investors in a research note. He raised his price target for shares to $95 from $75. Lilly closed yesterday down $1.43 to $82.22. The analyst this morning also upgraded Johnson & Johnson (JNJ) and Merck (MRK) to Overweight and downgraded AbbVie (ABBV) to Equal Weight.