Analyst Upgrades and Downgrades For the Week of 1/21/2025

Upgrades

• Cerence (CRNC) – Needham: Hold >> Buy, Price Target: $16
• Crinetics Pharmaceuticals (CRNX) – Jefferies: Hold >> Buy, Price Target: $55
• Darden Restaurants (DRI) – Bernstein: Mkt Perform >> Outperform, Price Target: $180 >> $215
• Mercantile Bank (MBWM) – Hovde Group: Market Perform >> Outperform, Price Target: $54
• 3M (MMM) – Wells Fargo: Equal Weight >> Overweight, Price Target: $140 >> $170
• Nordson (NDSN) – Loop Capital: Hold >> Buy, Price Target: $255 >> $280
• Netflix (NFLX) – Rosenblatt: Neutral >> Buy, Price Target: $1494
• Netflix (NFLX) – Canaccord Genuity: Hold >> Buy, Price Target: $940 >> $1150
• Netflix (NFLX) – Barclays: Underweight >> Equal Weight, Price Target: $715 >> $900
• Charles Schwab (SCHW) – Wells Fargo: Equal Weight >> Overweight, Price Target: $89 >> $93
• Seagate Tech (STX) – The Benchmark Company: Hold >> Buy, Price Target: $120
• Seagate Tech (STX) – Summit Insights: Hold >> Buy
• Millicom International Cellular (TIGO) – HSBC Securities: Hold >> Buy, Price Target: $34
• Olympic Steel (ZEUS) – KeyBanc Capital Markets: Sector Weight >> Overweight, Price Target: $42
• Netflix (NFLX) – The Benchmark Company: Sell >> Hold

---

Downgrades

• CAE (CAE) – National Bank Financial: Outperform >> Sector Perform
• Celsius (CELH) – TD Cowen: Buy >> Hold, Price Target: $40 >> $29
• Charles River (CRL) – William Blair: Outperform >> Mkt Perform
• New Oriental Education & Technology (EDU) – JP Morgan: Overweight >> Neutral, Price Target: $85 >> $50
• New Oriental Education & Technology (EDU) – Macquarie: Outperform >> Underperform, Price Target: $44
• New Oriental Education & Technology (EDU) – Morgan Stanley: Overweight >> Equal-Weight, Price Target: $83 >> $52
• Elevance Health (ELV) – Stephens: Overweight >> Equal-Weight, Price Target: $520 >> $440
• Ford Motor (F) – Barclays: Overweight >> Equal Weight, Price Target: $13 >> $11
• Fluence (FLNC) – Jefferies: Buy >> Hold, Price Target: $22 >> $15
• Hepsiburada (HEPS) – HSBC Securities: Buy >> Hold, Price Target: $3.5
• Rogers Comms (RCI) – Barclays: Overweight >> Equal Weight
• Reddit (RDDT) – ROTH MKM: Buy >> Neutral, Price Target: $116 >> $195
• STMicroelectronics (STM) – Barclays: Equal Weight >> Underweight
• Yum! Brands (YUM) – Bernstein: Outperform >> Mkt Perform, Price Target: $140 >> $135
• Murphy Oil (MUR) – Morgan Stanley: Equal-Weight >> Underweight, Price Target: $37

---

Coverage Initiated

• Absci Corporation (ABSI) – Needham: Buy, Price Target: $9
• ACV Auctions (ACVA) – Stephens: Equal-Weight, Price Target: $20.5
• APi Group (APG) – Truist: Buy, Price Target: $45
• Cytokinetics (CYTK) – Stifel: Buy, Price Target: $80
• Daktronics (DAKT) – Craig Hallum: Buy, Price Target: $26
• Edgewise Therapeutics (EWTX) – Stifel: Hold, Price Target: $30
• OPENLANE (KAR) – Stephens: Equal-Weight, Price Target: $20
• Orthofix (OFIX) – Canaccord Genuity: Buy, Price Target: $24
• Sun Country Airlines (SNCY) – JP Morgan: Overweight, Price Target: $23
• BBB Foods (TBBB) – Itau BBA: Market Perform, Price Target: $32
• Viking Holdings Ltd (VIK) – Goldman: Neutral, Price Target: $49
• JBT Marel Corporation (JBTM) – CL King: Buy, Price Target: $143
• Sunrise Communications AG (SNRE) – Redburn Atlantic: Buy
• Solaris Energy Infrastructure (SEI) – Tudor, Pickering, Holt & Co.: Buy, Price Target: $41
• Nutriband (NTRB) – Noble Capital Markets: Outperform, Price Target: $13