US Top Rating Updates on 10/19: NFLX, LOW, LMT, COP and More

Morgan Stanley analyst Devin McDermott upgraded $Continental Resources (CLR.US)$ to Equal Weight from Underweight with a price target of $74, up from $67, now that terms of the proposed take-private transaction have been finalized. Yesterday, Continental Resources announced that it has entered into an agreement and plan of merger with an entity that is owned by Continental's founder, Harold Hamm.

Baird analyst Peter Arment upgraded $Lockheed Martin (LMT.US)$ to Outperform from Neutral with an unchanged price target of $513. Given the multi-year free cash flow outlook offered and 2023 guidance that met Street expectations, headline risks have been reduced, "leaving little for bears," Arment tells investors.

Evercore ISI analyst Greg Melich downgraded $Lowe's Companies (LOW.US)$ to In Line from Outperform with a $210 price target, down from $220. While Melich believes Lowe's management can get margins to 13% over time, further short-term slowdown of home improvement demand could trip the growth path, the analyst tells investors in a research note.