Imperial Capital analyst David Miller raised his price target for Discovery to $32 from $31 and maintains an Outperform rating on the shares. The company's anchor networks are seeing nice ratings improvements, Miller tells investors in a research note. He believes, however, that the company's improving ratings are being clouded by accounting and restructuring charges as well as currency moves. The analyst still expects Discovery to post $2.3B-plus of free cash flow generation in 2018.

Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPS DISCOVERY TO BUY: Jefferies analyst John Janedis upgraded Discovery (DISCA) to Buy from Hold and raised his price target for shares to $34 from $26, telling investors he sees "several" opportunities that could increase Discovery's free cash flow, including stronger U.S. distribution growth, upside to realized synergies and the potential for a re-introduction of a stock repurchase plan earlier than anticipated. Janedis said he believes the market is under-appreciating Discovery's relative stability and free cash flow generation. Discovery shares were higher by 3.4% in late morning trading. BOFA RAISES APPLE PRICE TARGET TO $250: BofA Merrill Lynch analyst Wamsi Mohan said his analysis of third-party data indicates that the relative contribution from games to App Store revenue is coming down and he views this diversifying away from gaming as bullish for Apple's (AAPL) Services business. The strong growth rate of non-gaming categories gives him increased confidence in the sustainability of strong App Store sales, leading the analyst to raise his Services revenue estimate and increase his price target on Apple shares to $250 from $230 with a Buy rating on the name. IMPERIAL STARTS MSG AT OUTPERFORM: Imperial Capital analyst David Miller initiated shares of Madison Square Garden (MSG) with an Outperform rating and $372 price target. Miller believes there is still "measurable upside" to full intrinsic value on a sum-of-the-parts basis. In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks. Rather, MSG is focused completely on the "live" experience, with flagship assets that include the NY Knicks, the NY Rangers, and the real estate associated with iconic arenas such as the Forum in Los Angeles, Radio City Music Hall, the Chicago Theater, and the Garden itself. MORGAN STANLEY GOES RESTRICTED ON TESLA: Morgan Stanley is now restricted in terms of rating Tesla (TSLA), on which the firm previously had an Equal Weight rating. The Fly notes that on August 15, Goldman Sachs went to Not Rated on Tesla, with analyst David Tamberrino stating that the change was due to Goldman "acting as a financial advisor in connection with a matter that is fundamental to the reasonable analysis of the rating and price target for this stock." It may be that a similar situation is why Morgan Stanley is restricted in covering Tesla, though that has not been confirmed by the bank.

Baird analyst William Power said the deal for AT&T (T) to sell a RingCentral-based UCaaS solution called AT&T [email protected] to its enterprise customers is a net positive for RingCentral (RNG) as it should serve as another point of distribution. AT&T's decision to return to RingCentral as a technology partner seemingly validates the company's strong product, though exact terms were not disclosed and revenue will likely take some time to build, noted Power. He keeps a Neutral rating and $90 price target on RingCentral shares.

Jefferies analyst John DiFucci raised his price target for RingCentral (RNG) to $105 after the announced a new non-exclusive partnership with AT&T (T). The analyst notes that previously AT&T had severed this relationship in favor of a BroadSoft, which is now owned by Cisco Systems (CSCO), powered solution. AT&T coming back validates that the unified communications market is moving to the cloud and that RingCentral is the "premier asset in this market," DiFucci tells investors in a research note. He keeps a Buy rating on RingCentral shares.

Morgan Stanley analyst Simon Flannery writes that AT&T's sell-side event on November 29th will be the first time that the company provides a detailed long-term financial and strategic outlook - including projections for earnings, free cash flow, leverage, and outlooks for each existing business - since it closed the Time Warner acquisition. The analyst assigns a base-case 50% probability that there would be "no negative surprises", compared to 30% probability of a "constructive" guidance and 20% chance of "negative estimate revisions", saying the event could prove to be a positive catalyst for the stock. Flannery keeps his Overweight rating and $37 price target on AT&T.

KeyBanc analyst Brandon Nispel notes that T-Mobile (TMUS) CEO John Legere tweeted that the new Apple (AAPL) iPhone models include 600 MHz spectrum, which he finds important given T-Mobile has aggressively built out its 600 MHz spectrum. This should improve the performance of the network, particularly from a coverage perspective, he contends, adding that T-Mobile should be incentivized to aggressively promote the new iPhones to get consumers with mobile devices capable of using the spectrum. Nispel believes an aggressive promotion period from T-Mobile could result in upside to the company's guidance for 3.0M-3.6M branded postpaid net additions. He reiterates an Overweight rating and $76 price target on T-Mobile's shares.

Deutsche Bank analyst Matthew Niknam tells investors in a research note that two recent data points support his positive view on the U.S. wireless sector, saying that the recent VerizonFirst (VZ) and T-Mobile (TMUS) Uncarrier moves are aimed at further improving customer retention and do not disrupt industry pricing. Net net, the analyst continues to like Buy-rated Verizon as a beneficiary of improving Wireless industry trends, upside optionality via 5G launches, and discounted valuation.

RBC Capital analyst Jonathan Atkin raised his price target on CenturyLink to $27 and kept his Outperform rating after its "solid" Q2 results and increased FY18 guidance on "stronger-than-expected synergy realization and benefits from portfolio rationalization". The analyst believes that the company's dividend yield is also safe and its operating expense synergy targets are "beatable". Atkin further notes that although CenturyLink's consumer business is "challenged", it only constitutes about 25% of its combined revenue, and its recent Level 3 Communications transaction helps its "pivot to the enterprise business" with "better underlying economics".

Deutsche Bank analyst Matthew Niknam says the 7% pullback since Zayo Group's Q2 results last week creates a "very attractive entry point" in a stock with a "unique asset mix, and with multiple routes to value creation." The analyst sees the company's issues are shorter term in nature, and believes its underlying operating metrics and growth are likely to improve exiting 2018. Niknam views Zayo's risk/reward as favorable at current share levels and he keeps a Buy rating on the name.

Deutsche Bank analyst Matthew Niknam closed his short-term sell call on Cogent Communications shares citing the stock's recent underperformance. The analyst believes incremental downside to Cogent shares may be limited from current levels.

Oppenheimer analyst Timothy Horan raised his price target for Cogent to $57 from $51 as he believes the company benefits from better overall IP transit volumes from improved OTT and share gains. The analyst thinks Cogent will see volume growth above 40% this year and 50% next year, which could drive revenue growth above 10% and EBITDA margin expansion above 150 bps per year. Horan reiterates an Outperform rating on the shares.

Check out today's top analyst calls from around Wall Street, compiled by The Fly. CREDIT SUISSE INITIATES CASINO STOCKS: Credit Suisse analyst Cameron McKnight initiated Gaming and Leisure Properties (GLPI), VICI Properties (VICI), and PlayAGS (AGS) with an Outperform, Las Vegas Sands (LVS), Wynn Resorts (WYNN), MGM Growth (MGP), and International Game (IGT) with a Neutral, as well as Scientific Games (SGMS) with an Underperform. MORGAN STANLEY RAISES SALESFORCE PRICE TARGET TO $178 FROM $153: Morgan Stanley analyst Keith Weiss raised his price target for Salesforce (CRM) shares to $178 from $153 and maintained an Overweight rating. Weiss noted that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers and added that consensus expectations likely underestimate its growth potential as well as its improved track record in M&A. JEFFRIES SAYS "SIGNIFICANT SHAREHOLDER VALUE TO BE UNLOCKED" AT NIELSEN: Even following yesterday's 12% rally, there is "significant shareholder value to be unlocked" at Nielsen Holdings (NLSN), Jefferies analyst Surinder Thind told investors in a research note. Nielsen was also upgraded to Outperform from Neutral at Macquarie and to Equal Weight from Underweight at Barclays. Morgan Stanley analyst Toni Kaplan reiterated an Overweight rating and $26 price target on the stock. NOMURA RAISES PRICE TARGET AFTER SQUARE CASH APP SURPASSED PAYPAL'S VENMO IN JULY: Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. SWITCH DOWNGRADED AT MULTIPLE FIRMS: Switch (SWCH) was downgraded to Market Perform from Outperform at Raymond James, to Neutral from Overweight at JPMorgan, and to Neutral from Buy at BTIG. Switch shares are down about 25% in morning trading.

BMO Capital analyst Tim Long lowers his price target on Switch to $14 after its Q2 earnings miss and reduced FY18 outlook, saying that the lack of visibility is weighing on the stock. Long keeps his Outperform rating however, noting that Switch's total contract value remained "impressive". The analyst also states that its new valuation implies a 15% discount to the Data Center REIT average, which is too low after the company's expectations have been reset.

Jefferies analyst Scott Goldman lowered his price target for Switch to $12 saying the magnitude of the guidance cut is surprising, and implies virtually no incremental growth in the second half of 2018. The analyst is inclined to believe the outlook is conservative, but adds that "visibility is weak and the track record spotty." He maintains a Hold rating on shares of Switch.

MKM Partners analyst Eric Handler raised his price target on Lamar Advertising to $75 after its Q2 earnings beat, saying the "solid quarter" with improving trends saw all business segments exceeding the management's organic growth plans. Handler adds that the signs of rising organic growth and margin expansion have materialized, but keeps a Neutral rating, noting that the "capital appreciation potential is insufficient to merit a more constructive view."

Stephens analyst Kyle Evans said he expects solid results from Live Nation (LYV) for the rest of 2018 and sees few fundamental risks. However, he notes he is becoming "increasingly valuation sensitive" given the recent 35% run-up in the stock, which he attributes to its solid results, suspicion that the company is "intentionally under-earning" and new speculation that the company could be acquired by Sirius XM (SIRI). Evans keeps an Overweight rating on Live Nation with an increased price target of $60.

Wells Fargo analyst William Warmington raised his price target for Acxiom (ACXM) to $41 from $33 after the company announced the sale of its Acxiom Marketing Solutions business to Interpublic Group (IPG) for $2.3B cash. The analyst reiterates an Outperform rating on Acxiom's shares.