Analyst Upgrades and Downgrades For the Week of 1/27/2025

Upgrades – Monday, January 27, 2025

• Apple Hospitality REIT (APLE) – BofA Securities – Neutral >> Buy – Price Target: $16 >> $17
• Aptiv (APTV) – Robert W. Baird – Neutral >> Outperform – Price Target: $75 >> $82
• Burke & Herbert Financial Services Corp. (BHRB) – Keefe Bruyette – Mkt Perform >> Outperform – Price Target: $79 >> $76
• British American Tobacco (BTI) – UBS – Neutral >> Buy
• Dana Inc (DAN) – Wells Fargo – Underweight >> Equal Weight – Price Target: $10 >> $16
• Exelixis (EXEL) – Morgan Stanley – Equal-Weight >> Overweight – Price Target: $30 >> $40
• Interpublic (IPG) – JP Morgan – Neutral >> Overweight – Price Target: $32 >> $39
• Portillo’s (PTLO) – Stifel – Hold >> Buy – Price Target: $13 >> $16
• Qorvo (QRVO) – Piper Sandler – Neutral >> Overweight – Price Target: $85 >> $110
• Redwire Corporation (RDW) – B. Riley Securities – Neutral >> Buy – Price Target: $9.5 >> $27
• 1st Source Corp (SRCE) – Piper Sandler – Neutral >> Overweight – Price Target: $70 >> $72.5
• South State (SSB) – Citigroup – Neutral >> Buy – Price Target: $106 >> $128
• State Street (STT) – Wolfe Research – Underperform >> Peer Perform
• Titan Machinery (TITN) – Robert W. Baird – Neutral >> Outperform – Price Target: $14 >> $25
• Travel + Leisure Co (TNL) – BofA Securities – Underperform >> Buy – Price Target: $40 >> $60
• Take-Two (TTWO) – UBS – Neutral >> Buy – Price Target: $175 >> $230
• Twilio (TWLO) – Goldman – Neutral >> Buy – Price Target: $77 >> $185
• Waste Mgmt (WM) – Scotiabank – Sector Perform >> Sector Outperform – Price Target: $225 >> $250
• Toll Brothers (TOL) – Seaport Research Partners – Sell >> Neutral
• LGI Homes (LGIH) – Seaport Research Partners – Sell >> Neutral
• Safe Bulkers (SB) – DNB Markets – Hold >> Buy – Price Target: $4.2
• Smith & Wesson Brands (SWBI) – Lake Street – Hold >> Buy – Price Target: $13

Downgrades – Monday, January 27, 2025

• Ameren (AEE) – Barclays – Overweight >> Equal Weight – Price Target: $88 >> $95
• Air Products (APD) – BofA Securities – Buy >> Neutral – Price Target: $350
• Bloomin’ Brands (BLMN) – BofA Securities – Neutral >> Underperform – Price Target: $13
• D.R. Horton (DHI) – BofA Securities – Buy >> Neutral – Price Target: $160 >> $150
• Freddie Mac (FMCC) – Keefe Bruyette – Mkt Perform >> Underperform – Price Target: $4 >> $4.5
• Fannie Mae (FNMA) – Keefe Bruyette – Mkt Perform >> Underperform – Price Target: $3 >> $4
• Barrick (GOLD) – BofA Securities – Buy >> Neutral – Price Target: $21 >> $18
• Intellia Therapeutics (NTLA) – Morgan Stanley – Overweight >> Equal-Weight – Price Target: $56 >> $11
• Public Service (PEG) – Barclays – Overweight >> Equal Weight – Price Target: $88 >> $84
• RLI Corp (RLI) – Jefferies – Buy >> Underperform – Price Target: $95 >> $61
• RingCentral (RNG) – Barclays – Overweight >> Equal Weight – Price Target: $45 >> $37
• Plug Power (PLUG) – Seaport Research Partners – Neutral >> Sell – Price Target: $1
• Taylor Morrison Home (TMHC) – Seaport Research Partners – Neutral >> Sell
• PulteGroup (PHM) – Seaport Research Partners – Neutral >> Sell
• Electronic Arts (EA) – Exane BNP Paribas – Outperform >> Neutral – Price Target: $125
• Ralph Lauren (RL) – Raymond James – Outperform >> Mkt Perform
• Smith Douglas Homes Corp (SDHC) – BofA Securities – Neutral >> Underperform – Price Target: $33 >> $22
• The Vita Coco Company (COCO) – Stephens – Overweight >> Equal-Weight – Price Target: $36
• Logility Supply Chain Solutions (LGTY) – B. Riley Securities – Buy >> Neutral

Coverage Initiated – Monday, January 27, 2025

• American Tower (AMT) – JMP Securities – Mkt Outperform – Price Target: $225
• Bitdeer Technologies (BTDR) – Keefe Bruyette – Outperform – Price Target: $26.5
• Crown Castle (CCI) – JMP Securities – Mkt Outperform – Price Target: $115
• CleanSpark (CLSK) – Keefe Bruyette – Outperform – Price Target: $19
• Core Scientific (CORZ) – Keefe Bruyette – Outperform – Price Target: $22
• DigitalBridge (DBRG) – JMP Securities – Mkt Outperform – Price Target: $16
• Digital Realty Trust (DLR) – JMP Securities – Mkt Outperform – Price Target: $220
• Equinix (EQIX) – JMP Securities – Mkt Outperform – Price Target: $1200
• GDS Holdings (GDS) – JMP Securities – Mkt Outperform – Price Target: $35
• GFL Environmental (GFL) – Citigroup – Buy – Price Target: $53
• Marvell (MRVL) – Melius – Buy – Price Target: $188
• Palladyne AI (PDYN) – Alliance Global Partners – Buy – Price Target: $15
• SBA Comm (SBAC) – JMP Securities – Mkt Outperform – Price Target: $250
• Scilex Holding (SCLX) – D. Boral Capital – Buy – Price Target: $22
• Vital Farms (VITL) – Telsey Advisory Group – Outperform – Price Target: $52

Coverage Resumed – Monday, January 27, 2025

• Ares Management (ARES) – Barclays – Overweight – Price Target: $224
• Vistra Corp. (VST) – BofA Securities – Neutral – Price Target: $206
• Cidara Therapeutics (CDTX) – Cantor Fitzgerald – Overweight

Coverage Reiterated/Price Target Changed – Monday, January 27, 2025

• Fulton Financial (FULT) – Hovde Group – Market Perform – Price Target: $22 >> $22.5
• Twilio (TWLO) – Monness Crespi & Hardt – Buy – Price Target: $135 >> $152
• American Express (AXP) – Monness Crespi & Hardt – Buy – Price Target: $330 >> $355
• Alphabet A (GOOGL) – Needham – Buy – Price Target: $210 >> $225
• Cheniere Energy (LNG) – TD Cowen – Buy – Price Target: $242 >> $250
• Atlantic Union Bankshares (AUB) – Hovde Group – Outperform – Price Target: $47 >> $46
• OceanFirst Financial (OCFC) – Hovde Group – Outperform – Price Target: $23 >> $22
• South Plains Financial (SPFI) – Hovde Group – Outperform – Price Target: $46 >> $47
• Metropolitan Bank (MCB) – Hovde Group – Outperform – Price Target: $75 >> $83.5
• Enphase Energy (ENPH) – TD Cowen – Buy – Price Target: $120 >> $100
• Middlefield Banc (MBCN) – Hovde Group – Market Perform – Price Target: $28 >> $25
• Byline Bancorp (BY) – Hovde Group – Outperform – Price Target: $33 >> $34
• MidWestOne Financial Group (MOFG) – Hovde Group – Market Perform – Price Target: $30 >> $33.5
• Republic Bancorp (RBCAA) – Hovde Group – Market Perform – Price Target: $72 >> $70
• Starbucks (SBUX) – Stifel – Buy – Price Target: $110 >> $114
• Amazon (AMZN) – Wedbush – Outperform – Price Target: $260 >> $280
• Akero Therapeutics (AKRO) – H.C. Wainwright – Buy – Price Target: $50 >> $72