Catch up on today’s top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Joseph Moore saying global trade tensions and potential supply risks are driving shorter term inventory accumulation and he believes his Underweight rating is now “less actionable.” 2. On Deck Capital (ONDK) upgraded to Buy from Neutral at BTIG with analyst Giuliano Bologna saying the company’s “soft” Q2 results is offset by the $50M share repurchase plan and desire to pursue a bank charter. 3. Pinnacle West (PNW) upgraded to Buy from Hold at Argus with analyst Gary Hovis saying the stock has underperformed over the past month with a 3% decline in spite of the company’s “solid fundamentals, improved earnings visibility, and expanding rate base.” 4. Mohawk (MHK) upgraded to Neutral from Underperform at Buckingham with analyst Megan McGrath citing her view that flooring industry risks have been more adequately priced into the shares following the 20% pullback in the stock since the company reported Q2 earnings after the close on Thursday. 5. Melco Resorts & Entertainment (MLCO) upgraded to Buy from Outperform at Daiwa with analyst Andrew Chung calling it the “Crown Prince of Macau.” This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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