Top Analyst Upgrades and Downgrades: Allstate, Hecla, Hertz, MGIC, Nokia, Office Depot, P&G and More

These are this Monday’s top analyst upgrades, downgrades and initiations.

Aegon N.V. (NYSE: AEG) was downgraded to Neutral from Buy at Bank of America Merrill Lynch.

Allstate Corp. (NYSE: ALL) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods.

CarMax Inc. (NYSE: KMX) was downgraded to Equal Weight from Overweight at Morgan Stanley.

Denbury Resources Inc. (NYSE: DNR) was downgraded to Neutral from Buy and the $18 price target was removed at Sterne Agee. It also was downgraded to Neutral from Outperform and the price target was cut to $16 from $19 at Credit Suisse.

Enova International Inc. (NYSE: ENVA) was started with Buy rating and $35 price target (versus a $25.12 close) at Sterne Agee.

Hecla Mining Co. (NYSE: HL) may have risen some 9% last Friday, but the small-cap miner was downgraded to Neutral from Buy at Roth Capital Markets.

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Hertz Global Holdings Inc. (NYSE: HTZ) was downgraded to Market Perform from Outperform and the valuation range was lowered to $20 to $24 from $30 to $33 at Wells Fargo.

MGIC Investment Corp. (NYSE: MTG) was maintained as Buy but was added to the prized Conviction Buy List at Goldman Sachs, and the price target was raised to $12 from $11 (versus a $8.88 close).

Marriott International Inc. (NYSE: MAR) was downgraded to Neutral from Buy at UBS.

Nokia Corp. (NYSE: NOK) was downgraded to Underperform from Market Perform at Raymond James, and it received positive comments from Canaccord Genuity.

Office Depot Inc. (NYSE: ODP) was downgraded to Neutral from Buy at Goldman Sachs after the stock effectively reached its target price.

Orbotech Ltd. (NASDAQ: ORBK) was raised to Buy from Hold with a price target of $20.00 at Needham after recent weakness.

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Procter & Gamble Co. (NYSE: PG) was downgraded to Hold from Buy with an $89 price target at Canaccord Genuity.

Phillips 66 (NYSE: PSX) was raised to Outperform from Neutral with a $95 price target (versus a $71.78 close) at Credit Suisse.

Volcano Corp. (NASDAQ: VOLC) was raised to Outperform from Neutral and the price target was cut to $14 from $16 (versus a $10.92 close) at Credit Suisse.

Wet Seal Inc. (NASDAQ: WTSL) was downgraded to Neutral from Buy at B. Riley.

Over the weekend we had seven analyst stocks under $10 with massive implied upside in their price targets.