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Analyst Upgrades and Downgrades For the Week of April 8th

Analyst upgrades, downgrades, and more

By Justin Nugent · April 8, 2024
Analyst Upgrades and Downgrades For the Week of April 8th

Thursday, April 11th

Upgrades:

  • Albemarle (ALB):
    • Berenberg upgraded from Hold to Buy.
    • Price target raised from $130 to $160.
  • Ashland (ASH):
    • Wells Fargo upgraded from Equal Weight to Overweight.
    • Price target raised from $100 to $112.
  • C.H. Robinson (CHRW):
    • Wolfe Research upgraded from Underperform to Peer Perform.
  • Chevron (CVX):
    • Scotiabank upgraded from Sector Perform to Sector Outperform.
    • Price target: $195.
  • DoorDash (DASH):
    • MoffettNathanson upgraded from Neutral to Buy.
    • Price target raised from $118 to $164.
  • Warrior Met Coal (HCC):
    • Citigroup upgraded from Neutral to Buy.
    • Price target raised from $60 to $75.
  • Hamilton Insurance Group, Ltd. (HG):
    • Wells Fargo upgraded from Equal Weight to Overweight.
  • Gartner (IT):
    • UBS upgraded from Neutral to Buy.
    • Price target raised from $484 to $550.
  • NIKE (NKE):
    • BofA Securities upgraded from Neutral to Buy.
    • Price target raised from $110 to $113.
  • Occidental Petro (OXY):
    • Scotiabank upgraded from Sector Perform to Sector Outperform.
    • Price target: $90.
  • PPG Industries (PPG):
    • Wells Fargo upgraded from Equal Weight to Overweight.
    • Price target raised from $150 to $163.
  • SoundHound AI (SOUN):
    • Cantor Fitzgerald upgraded from Underweight to Neutral.
  • StepStone Group (STEP):
    • JP Morgan upgraded from Neutral to Overweight.
    • Price target raised from $40 to $49.
  • Atlassian (TEAM):
    • Barclays upgraded from Equal Weight to Overweight.
  • T. Rowe Price (TROW):
    • Keefe Bruyette upgraded from Underperform to Market Perform.
    • Price target raised from $106 to $120.
  • Vertex Pharma (VRTX):
    • Evercore ISI upgraded from In-line to Outperform.
  • EQT Corp. (EQT):
    • Scotiabank upgraded from Sector Perform to Sector Outperform.
    • Price target: $52.

Downgrades:

  • Airbnb (ABNB):
    • Needham downgraded from Buy to Hold.
  • Arbor Realty Trust (ABR):
    • Wedbush downgraded from Outperform to Neutral.
    • Price target lowered from $17 to $13.
  • Altice USA (ATUS):
    • JP Morgan downgraded from Neutral to Underweight.
  • Clipper Realty (CLPR):
    • JMP Securities downgraded from Market Outperform to Market Perform.
  • EOG Resources (EOG):
    • Scotiabank downgraded from Sector Outperform to Sector Perform.
    • Price target: $155.
  • Exelixis (EXEL):
    • Barclays downgraded from Overweight to Equal Weight.
  • Gen Digital (GEN):
    • Barclays downgraded from Overweight to Equal Weight.
    • Price target lowered from $28 to $25.
  • Hamilton Lane (HLNE):
    • JP Morgan downgraded from Overweight to Neutral.
    • Price target: $115.
  • Robinhood Markets (HOOD):
    • Citigroup downgraded from Neutral to Sell.
    • Price target raised from $13 to $16.
  • Marsh McLennan (MMC):
    • Wells Fargo downgraded from Overweight to Equal Weight.
    • Price target: $212.
  • Murphy Oil (MUR):
    • Scotiabank downgraded from Sector Outperform to Sector Perform.

Wednesday, April 10th

Upgrades:

  • Albemarle (ALB):
    • BofA Securities upgraded from Neutral to Buy.
    • Price target raised from $137 to $156.
  • CAVA Group (CAVA):
    • Argus upgraded from Hold to Buy.
    • Price target not specified.
  • Certara (CERT):
    • KeyBanc Capital Markets upgraded from Sector Weight to Overweight.
    • Price target set at $23.
  • Canadian Nat’l Rail (CNI):
    • BofA Securities upgraded from Neutral to Buy.
    • Price target raised from $140 to $145.
  • EQT Corp. (EQT):
    • Bernstein upgraded from Underperform to Market Perform.
    • Price target raised from $27 to $34.
  • FirstCash (FCFS):
    • TD Cowen upgraded from Hold to Buy.
    • Price target raised from $130 to $145.
  • GoodRx (GDRX):
    • KeyBanc Capital Markets upgraded from Sector Weight to Overweight.
    • Price target not specified.
  • Intl Flavors (IFF):
    • Citigroup upgraded from Neutral to Buy.
    • Price target raised from $81 to $100.
  • Ionis Pharma (IONS):
    • Wolfe Research upgraded from Peer Perform to Outperform.
    • Price target raised from $58 to unspecified.
  • OPENLANE (KAR):
    • BofA Securities upgraded from Underperform to Neutral.
    • Price target raised from $16 to $20.
  • Revolution Medicines (RVMD):
    • Raymond James upgraded from Outperform to Strong Buy.
    • Price target raised from $36 to $48.
  • UDR (UDR):
    • Piper Sandler upgraded from Underweight to Neutral.
    • Price target raised from $34 to $40.
  • Visteon (VC):
    • Barclays upgraded from Equal Weight to Overweight.
    • Price target raised from $140 to $145.
  • Century Casinos (CNTY):
    • Macquarie upgraded from Neutral to Outperform.
    • Price target not specified.

Downgrades:

  • Adient (ADNT):
    • Barclays downgraded from Overweight to Equal Weight.
    • Price target lowered from $41 to $37.
  • Arthur J. Gallagher (AJG):
    • Truist downgraded from Buy to Hold.
    • Price target lowered from $280 to $255.
  • Arch Resources (ARCH):
    • BMO Capital Markets downgraded from Outperform to Market Perform.
    • Price target lowered from $180 to $165.
  • CF Industries (CF):
    • BofA Securities downgraded from Buy to Neutral.
    • Price target lowered from $96 to $88.
  • Deckers Outdoor (DECK):
    • Truist downgraded from Buy to Hold.
    • Price target lowered from $983 to $864.
  • Health Catalyst (HCAT):
    • KeyBanc Capital Markets downgraded from Overweight to Sector Weight.
    • Price target not specified.
  • Hexcel (HXL):
    • Northcoast downgraded from Buy to Neutral.
    • Price target not specified.
  • Hexcel (HXL):
    • BofA Securities downgraded from Neutral to Underperform.
    • Price target lowered from $75 to $65.
  • Medical Properties Trust (MPW):
    • Colliers Securities downgraded from Buy to Neutral.
    • Price target lowered from $10 to $4.25.
  • Luminar Technologies (LAZR):
    • BofA Securities downgraded from Neutral to Underperform.
    • Price target lowered from $3.5 to $1.2.
  • Linde plc (LIN):
    • Citigroup downgraded from Buy to Neutral.
    • Price target raised from $475 to $500.
  • Monday.com (MNDY):
    • Citigroup downgraded from Buy to Neutral.
    • Price target lowered from $277 to $250.
  • R1 RCM (RCM):
    • KeyBanc Capital Markets downgraded from Overweight to Sector Weight.
    • Price target not specified.
  • Yum! Brands (YUM):
    • Argus downgraded from Buy to Hold.
    • Price target not specified.

Coverage Initiatied

  • Ameren (AEE):
    • Goldman initiated with a Sell rating.
    • Price target set at $73.
  • Alcon (ALC):
    • Goldman initiated with a Buy rating.
    • Price target set at $100.
  • APA Corp. (APA):
    • Barclays initiated with Equal Weight.
    • Price target set at $40.
  • Antero Resources (AR):
    • Barclays initiated with Equal Weight.
    • Price target set at $32.
  • CBRE Group (CBRE):
    • Jefferies initiated with a Hold rating.
    • Price target set at $107.
  • Chesapeake Energy (CHK):
    • Barclays initiated with Equal Weight.
    • Price target set at $102.
  • Comerica (CMA):
    • Deutsche Bank initiated with a Hold rating.
    • Price target set at $59.
  • ConocoPhillips (COP):
    • Barclays initiated with Overweight.
    • Price target set at $158.
  • California Resources Corp (CRC):
    • Barclays initiated with Equal Weight.
    • Price target set at $62.
  • Coterra Energy (CTRA):
    • Barclays initiated with Overweight.
    • Price target set at $36.
  • Chevron (CVX):
    • Barclays initiated with Overweight.
    • Price target set at $203.
  • Cushman & Wakefield (CWK):
    • Jefferies initiated with a Buy rating.
    • Price target set at $13.
  • Devon Energy (DVN):
    • Barclays initiated with Equal Weight.
    • Price target set at $59.
  • Edison (EIX):
    • Goldman initiated with a Neutral rating.
    • Price target set at $78.
  • EOG Resources (EOG):
    • Barclays initiated with Equal Weight.
    • Price target set at $144.
  • Eversource Energy (ES):
    • Goldman initiated with a Buy rating.
    • Price target set at $73.
  • Diamondback Energy (FANG):
    • Barclays initiated with Equal Weight.
    • Price target set at $214.
  • FirstEnergy (FE):
    • Goldman initiated with a Buy rating.
    • Price target set at $45.
  • Floor & Decor (FND):
    • TD Cowen initiated with a Hold rating.
    • Price target set at $125.
  • Funko (FNKO):
    • B. Riley Securities initiated with a Buy rating.
    • Price target set at $10.
  • Hims & Hers Health (HIMS):
    • Canaccord Genuity initiated with a Buy rating.
    • Price target set at $20.
  • Altus Power (AMPS):
    • Maxim Group initiated with a Buy rating.
    • Price target set at $7.
  • Jones Lang LaSalle (JLL):
    • Jefferies initiated with a Buy rating.
    • Price target set at $246.
  • LENZ Therapeutics (LENZ):
    • Citigroup initiated with a Buy rating.
    • Price target set at $34.
  • MarketAxess (MKTX):
    • BofA Securities initiated with an Underperform rating.
    • Price target set at $199.
  • Marathon Oil (MRO):
    • Barclays initiated with Overweight.
    • Price target set at $35.
  • Maravai Life Sciences (MRVI):
    • Craig Hallum initiated with a Buy rating.
    • Price target set at $15.
  • Murphy Oil (MUR):
    • Barclays initiated with Equal Weight.
    • Price target set at $54.
  • NextEra Energy (NEE):
    • Barclays initiated with Equal Weight.
    • Price target set at $66.
  • NextEra Energy Partners (NEP):
    • Barclays initiated with Equal Weight.
    • Price target set at $32.
  • NET Power (NPWR):
    • Barclays initiated with Equal Weight.
    • Price target set at $13.
  • Ovintiv (OVV):
    • Barclays initiated with Overweight.
    • Price target set at $69.
  • Occidental Petro (OXY):
    • Barclays initiated with Equal Weight.
    • Price target set at $73.
  • PG&E (PCG):
    • Goldman initiated with a Buy rating.
    • Price target set at $21.
  • Range Resources (RRC):
    • Barclays initiated with Underweight.
    • Price target set at $35.
  • Solventum Corporation (SOLV):
    • Morgan Stanley initiated with an Equal-Weight rating.
    • Price target set at $70.
  • Sitio Royalties Corp. (STR):
    • Barclays initiated with Underweight.
    • Price target set at $26.
  • Texas Roadhouse (TXRH):
    • The Benchmark Company initiated with a Hold rating.
    • Price target not specified.
  • Vital Farms (VITL):
    • William Blair initiated with an Outperform rating.
    • Price target not specified.
  • Viper Energy Partners (VNOM):
    • Barclays initiated with Overweight.
    • Price target set at $44.
  • WEC Energy Group (WEC):
    • Goldman initiated with a Neutral rating.
    • Price target set at $88.
  • Exxon Mobil (XOM):
    • Barclays initiated with Overweight.
    • Price target set at $147.
  • Zions Bancorp (ZION):
    • Deutsche Bank initiated with a Hold rating.
    • Price target set at $47.
  • Crescent Energy Company (CRGY):
    • Tudor, Pickering, Holt & Co. initiated with a Buy rating.
    • Price target set at $18.

Tuesday, April 9th

  • Upgrades (Tuesday, April 09, 2024):
    • American Eagle (AEO):
      • Upgraded from Neutral to Overweight by JP Morgan with a target price of $31.
    • Alamos (AGI):
      • Upgraded from Neutral to Buy by BofA Securities.
    • Ally Financial (ALLY):
      • Upgraded from Neutral to Buy by BofA Securities with a revised target of $46 from $42.
    • BASF AG (BASFY):
      • Upgraded from Neutral to Buy by Redburn Atlantic.
    • Chemours (CC):
      • Upgraded from Underperform to Outperform by BMO Capital Markets with a target increase from $19 to $34.
    • Digital Realty Trust (DLR):
      • Upgraded from Equal Weight to Overweight by Wells Fargo with a revised target of $155 from $135.
    • Freeport-McMoRan (FCX):
      • Upgraded from Neutral to Buy by BofA Securities with a target price of $59.
    • First Horizon (FHN):
      • Upgraded from Sector Perform to Outperform by RBC Capital Mkts with a revised target of $18 from $16.
    • GE Aerospace (GE):
      • Upgraded from Hold to Buy by TD Cowen with a revised target of $180 from $175.
    • Hudbay Minerals (HBM):
      • Upgraded from Neutral to Buy by BofA Securities with a target price of $9.
    • Infosys (INFY):
      • Upgraded from Neutral to Buy by BofA Securities.
    • LPL Financial (LPLA):
      • Upgraded from Equal-Weight to Overweight by Morgan Stanley with a revised target of $315 from $254.
    • MacroGenics (MGNX):
      • Upgraded from Hold to Buy by TD Cowen.
    • NASDAQ (NDAQ):
      • Upgraded from Equal-Weight to Overweight by Morgan Stanley with a target increase from $59 to $80.
    • PennyMac (PFSI):
      • Upgraded from Market Perform to Outperform by Keefe Bruyette with a revised target of $105 from $100.
    • Molson Coors Brewing (TAP):
      • Upgraded from Neutral to Buy by Goldman with a revised target of $75 from $66.
    • UWM Holdings (UWMC):
      • Upgraded from Underperform to Market Perform by Keefe Bruyette with a target price of $6.
    • U.S. Steel (X):
      • Upgraded from Peer Perform to Outperform by Wolfe Research with a target price of $46.
    • enCore Energy Corp. (EU):
      • Upgraded from Speculative Buy to Buy by Canaccord Genuity.
  • Downgrades (Tuesday, April 09, 2024):
    • American Express (AXP):
      • Downgraded from Overweight to Equal Weight by Barclays with a target increase from $220 to $221.
    • Broadstone Net Lease (BNL):
      • Downgraded from Outperform to Peer Perform by Wolfe Research.
    • Cboe Global Markets (CBOE):
      • Downgraded from Overweight to Equal-Weight by Morgan Stanley with a target decrease from $211 to $199.
    • ChargePoint (CHPT):
      • Downgraded from Neutral to Sell by Goldman with a target decrease from $2 to $1.5.
    • Cleveland-Cliffs (CLF):
      • Downgraded from Peer Perform to Underperform by Wolfe Research with a target price of $18.
    • Comcast (CMCSA):
      • Downgraded from Outperform to Neutral by Exane BNP Paribas with a target price of $45.
    • Cushman & Wakefield (CWK):
      • Downgraded from Outperform to Peer Perform by Wolfe Research.
    • Danimer Scientific (DNMR):
      • Downgraded from Overweight to Neutral by Piper Sandler with a target decrease from $3.5 to $1.25.
    • Jones Lang LaSalle (JLL):
      • Downgraded from Outperform to Peer Perform by Wolfe Research.
    • Maxeon Solar (MAXN):
      • Downgraded from Outperform to Market Perform by Raymond James.
    • Perion Network (PERI):
      • Downgraded from Buy to Neutral by ROTH MKM with a target decrease from $35 to $13.
    • PetroChina (PTR):
      • Downgraded from Outperform to Market Perform by Bernstein.
    • Comp Siderurgica (SID):
      • Downgraded from Neutral to Underperform by BofA Securities.
    • Sensata Tech (ST):
      • Downgraded from Buy to Neutral by Goldman with a target decrease from $44 to $36.
    • BBB Foods (TBBB):
      • Downgraded from Buy to Neutral by UBS with a target increase from $26 to $27.
    • Vale S.A. (VALE):
      • Downgraded from Buy to Neutral by BofA Securities.
    • Wells Fargo (WFC):
      • Downgraded from Buy to Neutral by Compass Point with a target price of $64.
    • Altice USA (ATUS):
      • Downgraded from Neutral to Underperform by Exane BNP Paribas with a target price of $1.
  • Coverage Initiated (Tuesday, April 09, 2024):
    • Amkor (AMKR):
      • Initiated with a Buy rating by Needham with a target price of $40.
    • Alpine Immune Sciences (ALPN):
      • Initiated with a Buy rating by Guggenheim with a target price of $55.
    • Amphenol (APH):
      • Initiated with a Hold rating by Jefferies with a target price of $125.
    • AvidXchange (AVDX):
      • Initiated with a Market Perform rating by Keefe Bruyette with a target price of $13.5.
    • Bitdeer Technologies (BTDR):
      • Initiated with a Buy rating by Rosenblatt with a target price of $10.5.
    • Coeur Mining (CDE):
      • Initiated with a Buy rating by ROTH MKM with a target price of $5.4.
    • Enliven Therapeutics (ELVN):
      • Initiated with a Buy rating by Mizuho with a target price of $34.
    • Frontier Communications Parent (FYBR):
      • Initiated with a Buy rating by BofA Securities with a target price of $30.
    • Structure Therapeutics (GPCR):
      • Initiated with an Overweight rating by Cantor Fitzgerald with a target price of $65.
    • GitLab (GTLB):
      • Initiated with an Overweight rating by Wells Fargo with a target price of $70.
    • Rezolute (RZLT):
      • Initiated with a Buy rating by Maxim Group with a target price of $8.
    • ICHOR Corporation (ICHR):
      • Initiated with a Buy rating by Craig Hallum with a target price of $55.
    • Littelfuse (LFUS):
      • Initiated with a Hold rating by Jefferies with a target price of $260.

Monday, April 8th

Upgrades:

  • Applied Materials (AMAT): Upgraded from Neutral to Overweight by Cantor Fitzgerald with a price target of $260.
  • BJ’s Wholesale (BJ): Upgraded from Neutral to Buy by Goldman, with a price target raised from $81 to $87.
  • BRP Group (BRP): Upgraded from Neutral to Overweight by JP Morgan, with a price target increased from $27 to $33.
  • Forte Biosciences (FBRX): Upgraded from Neutral to Buy by Ladenburg Thalmann, setting a price target of $2.75.
  • Fastly (FSLY): Upgraded from Neutral to Overweight by Piper Sandler, with a revised price target of $19 to $16.
  • GE Vernova (GEV): Upgraded from Neutral to Overweight by JP Morgan, no specified price target.
  • Huntington Banc (HBAN): Upgraded from Neutral to Buy by BofA Securities and Jefferies, with price targets raised from $14 to $16.
  • Polaris Industries (PII): Upgraded from Neutral to Buy by Longbow, setting a price target of $120.
  • Transocean (RIG): Upgraded from Neutral to Positive by Susquehanna, with a price target raised from $5.5 to $9.
  • Sealed Air (SEE): Upgraded from Hold to Buy by Truist, with a revised price target of $39 to $44.
  • Sociedad Quimica y Minera (SQM): Upgraded from Hold to Buy by Jefferies, with a price target increased from $52 to $62.8.
  • T. Rowe Price (TROW): Downgraded from Sell to Hold by TD Cowen, with a revised price target of $92 to $114.
  • Take-Two (TTWO): Upgraded from Neutral to Buy by Citigroup, setting a price target of $170 to $200.
  • Ulta Beauty (ULTA): Upgraded from Hold to Buy by Loop Capital, with a revised price target unspecified.
  • Zebra Tech (ZBRA): Upgraded from Peer Perform to Outperform by Wolfe Research, no specified price target.
  • Loma Negra (LOMA): Downgraded from Underperform to Neutral by BofA Securities, no specified price target.

Downgrades:

  • Amer Sports (AS): Downgraded from Outperform to Market Perform by Bernstein, no specified price target.
  • Enlight Renewable Energy Ltd. (ENLT): Downgraded from Overweight to Neutral by JP Morgan, with a price target lowered from $19 to $16.
  • Eaton (ETN): Downgraded from Peer Perform to Underperform by Wolfe Research, no specified price target.
  • GlobalFoundries (GFS): Downgraded from Overweight to Neutral by Cantor Fitzgerald, with a price target decreased from $70 to $55.
  • Kroger (KR): Downgraded from Neutral to Underperform by Exane BNP Paribas, with a revised price target of $48.
  • Energy Vault (NRGV): Downgraded from Buy to Sell by Chardan Capital Markets, no specified price target.
  • Palomar Holdings (PLMR): Downgraded from Overweight to Neutral by JP Morgan, with a revised price target of $79 to $85.
  • Douglas Dynamics (PLOW): Downgraded from Outperform to Neutral by Robert W. Baird, with a revised price target of $36 to $25.
  • Sphere Entertainment Co. (SPHR): Downgraded from Buy to Neutral by Seaport Research Partners, no specified price target.
  • Skyworks (SWKS): Downgraded from Overweight to Sector Weight by KeyBanc Capital Markets, no specified price target.
  • Virtus Investment Partners (VRTS): Downgraded from Buy to Hold by TD Cowen, with a revised price target of $285 to $264.
  • Westlake Corporation (WLK): Downgraded from Buy to Hold by Vertical Research, with a revised price target unspecified.
  • Perion Network (PERI): Downgraded from Buy to Hold by Lake Street, with a revised price target of $16.