Analyst Upgrades and Downgrades For the Week of August 12th

August 16th Upgrades, Downgrades, and More

Upgrades – Friday, August 16, 2024

• AFC Gamma (AFCG)
  • Brokerage Firm: Compass Point
  • Ratings Change: Sell >> Neutral
  • Price Target: $10 >> $9
• CF Industries (CF)
  • Brokerage Firm: Barclays
  • Ratings Change: Equal Weight >> Overweight
  • Price Target: $80 >> $90
• Cisco (CSCO)
  • Brokerage Firm: HSBC Securities
  • Ratings Change: Hold >> Buy
  • Price Target: $46 >> $58
• Fox Corporation (FOXA)
  • Brokerage Firm: Wells Fargo
  • Ratings Change: Underweight >> Overweight
  • Price Target: $29 >> $46
• Illumina (ILMN)
  • Brokerage Firm: Daiwa Securities
  • Ratings Change: Neutral >> Buy
  • Price Target: $120 >> $154
• Kimco Realty (KIM)
  • Brokerage Firm: Raymond James
  • Ratings Change: Market Perform >> Strong Buy
  • Price Target: $25
• Kite Realty (KRG)
  • Brokerage Firm: Raymond James
  • Ratings Change: Market Perform >> Strong Buy
  • Price Target: $28
• Microchip (MCHP)
  • Brokerage Firm: Piper Sandler
  • Ratings Change: Neutral >> Overweight
  • Price Target: $90 >> $100
• Newmark Group (NMRK)
  • Brokerage Firm: Wolfe Research
  • Ratings Change: Peer Perform >> Outperform
  • Price Target: $15
• Sphere Entertainment Co. (SPHR)
  • Brokerage Firm: JP Morgan
  • Ratings Change: Neutral >> Overweight
  • Price Target: $37 >> $57
• Teradyne (TER)
  • Brokerage Firm: Cantor Fitzgerald
  • Ratings Change: Neutral >> Overweight
  • Price Target: $16
• Origin Materials (ORGN)
  • Brokerage Firm: BofA Securities
  • Ratings Change: Neutral >> Buy
  • Price Target: $1.35 >> $3
• EnLink Midstream (ENLC)
  • Brokerage Firm: Tudor, Pickering, Holt & Co.
  • Ratings Change: Hold >> Buy
  • Price Target: $15
• JD.com (JD)
  • Brokerage Firm: JP Morgan
  • Ratings Change: Neutral >> Overweight
  • Price Target: $33 >> $36
• Alnylam Pharma (ALNY)
  • Brokerage Firm: Goldman
  • Ratings Change: Neutral >> Buy
  • Price Target: $198 >> $370
• CI&T Inc (CINT)
  • Brokerage Firm: Itau BBA
  • Ratings Change: Market Perform >> Outperform

Downgrades – Friday, August 16, 2024

• Bumble Inc. (BMBL)
  • Brokerage Firm: TD Cowen
  • Ratings Change: Buy >> Hold
  • Price Target: $22 >> $7.5
• CAE (CAE)
  • Brokerage Firm: Morgan Stanley
  • Ratings Change: Overweight >> Equal-Weight
• Coherus BioSciences (CHRS)
  • Brokerage Firm: UBS
  • Ratings Change: Buy >> Neutral
  • Price Target: $4 >> $1.5
• Estee Lauder (EL)
  • Brokerage Firm: BofA Securities
  • Ratings Change: Buy >> Neutral
  • Price Target: $140 >> $100
• Lumen Technologies (LUMN)
  • Brokerage Firm: Wells Fargo
  • Ratings Change: Equal Weight >> Underweight
  • Price Target: $1.75 >> $4
• Silicon Motion (SIMO)
  • Brokerage Firm: BofA Securities
  • Ratings Change: Buy >> Underperform
  • Price Target: $90 >> $60
• Viracta Therapeutics (VIRX)
  • Brokerage Firm: Leerink Partners
  • Ratings Change: Outperform >> Market Perform
  • Price Target: $5 >> $3
• Vital Energy (VTLE)
  • Brokerage Firm: KeyBanc Capital Markets
  • Ratings Change: Overweight >> Sector Weight
• Xos (XOS)
  • Brokerage Firm: DA Davidson
  • Ratings Change: Buy >> Neutral
  • Price Target: $17 >> $9
• Cardlytics (CDLX)
  • Brokerage Firm: Northland Capital
  • Ratings Change: Outperform >> Market Perform
  • Price Target: $5

Coverage Initiated – Friday, August 16, 2024

• Couchbase (BASE)
  • Brokerage Firm: Piper Sandler
  • Ratings Change: Overweight
  • Price Target: $22
• Liquidia Technologies (LQDA)
  • Brokerage Firm: Raymond James
  • Ratings Change: Outperform
  • Price Target: $27
• Y-mAbs Therapeutics (YMAB)
  • Brokerage Firm: Cantor Fitzgerald
  • Ratings Change: Overweight
  • Price Target: $20
• Two Harbors Investment (TWO)
  • Brokerage Firm: Janney
  • Ratings Change: Buy
  • Price Target: $15

August 15th Upgrades, Downgrades, and More

Upgrades:

• Dutch Bros (BROS): UBS upgraded from Neutral to Buy; Price Target: $39.
• Brinker (EAT): KeyBanc Capital Markets upgraded from Sector Weight to Overweight; Price Target: $72.
• Robinhood Markets (HOOD): Deutsche Bank upgraded from Hold to Buy; Price Target increased from $21 to $24.
• Medtronic (MDT): UBS upgraded from Sell to Neutral; Price Target increased from $76 to $90.
• Progressive (PGR): Goldman upgraded from Neutral to Buy; Price Target increased from $230 to $262.

Downgrades:

• Snowflake (SNOW): Wells Fargo downgraded from Overweight to Equal Weight; Price Target decreased from $200 to $130.
• Las Vegas Sands (LVS): Argus downgraded from Buy to Hold.
• Pilgrim’s Pride (PPC): BofA Securities downgraded from Buy to Neutral; Price Target: $47.
• Bluebirdbio (BLUE): JP Morgan downgraded from Overweight to Neutral.

Coverage Initiated:

• Advanced Energy (AEIS): Stifel initiated coverage with a Buy rating; Price Target: $135.
• Tyra Biosciences (TYRA): Piper Sandler initiated coverage with an Overweight rating; Price Target: $33.
• Valvoline (VVV): Robert W. Baird initiated coverage with an Outperform rating; Price Target: $48.

August 14th Upgrades, Downgrades, and More

Upgrades (August 14, 2024)

• American Woodmark (AMWD): Wolfe Research – Peer Perform >> Outperform, Price Target: $110
• Ball Corp (BALL): Robert W. Baird – Neutral >> Outperform, Price Target: $70
• Cidara Therapeutics (CDTX): H.C. Wainwright – Neutral >> Buy, Price Target: $24
• Chipotle Mexican Grill (CMG): Wedbush – Neutral >> Outperform, Price Target: $54 >> $58
• EQT Corp. (EQT): Wells Fargo – Equal Weight >> Overweight, Price Target: $40 >> $42
• Hudbay Minerals (HBM): Jefferies – Hold >> Buy
• HUYA (HUYA): Citigroup – Sell >> Buy, Price Target: $2.4 >> $6
• Illumina (ILMN):
  • Barclays – Underweight >> Equal Weight, Price Target: $125
  • TD Cowen – Hold >> Buy, Price Target: $126 >> $144
• Johnson Controls (JCI): RBC Capital Mkts – Underperform >> Sector Perform, Price Target: $61 >> $69
• L’Oreal (LRLCY): Jefferies – Underperform >> Hold
• Meritage (MTH): Wolfe Research – Peer Perform >> Outperform, Price Target: $230
• nCino (NCNO): Goldman – Neutral >> Buy, Price Target: $34 >> $42
• Nkarta (NKTX): Raymond James – Outperform >> Strong Buy, Price Target: $16
• Starbucks (SBUX):
  • Evercore ISI – In-line >> Outperform, Price Target: $80 >> $120
  • Deutsche Bank – Hold >> Buy, Price Target: $85 >> $118
  • Stifel – Hold >> Buy, Price Target: $80 >> $110
• Sportradar Group AG (SRAD): Jefferies – Hold >> Buy, Price Target: $12 >> $16
• Int’l Paper (IP): Argus – Hold >> Buy, Price Target: $52
• Sea Limited (SE): JP Morgan – Neutral >> Overweight, Price Target: $66 >> $90
• Hut 8 Mining (HUT): H.C. Wainwright – Sell >> Buy, Price Target: $7.5 >> $13.5
• FLEX LNG (FLNG): Jefferies – Underperform >> Hold, Price Target: $24
• Lithium Argentina (LAAC): HSBC Securities – Hold >> Buy
• Victoria’s Secret (VSCO): Morgan Stanley – Underweight >> Equal-Weight

Downgrades (August 14, 2024)

• Emerson (EMR): JP Morgan – Overweight >> Neutral, Price Target: $132 >> $115
• Hudson Pacific Properties (HPP): Wolfe Research – Outperform >> Peer Perform
• Hershey Foods (HSY): Argus – Buy >> Hold
• Hexcel (HXL): RBC Capital Mkts – Outperform >> Sector Perform, Price Target: $76 >> $68
• Intuit (INTU): Morgan Stanley – Overweight >> Equal-Weight, Price Target: $750 >> $685
• L3Harris (LHX): RBC Capital Mkts – Outperform >> Sector Perform, Price Target: $250 >> $240
• Medtronic (MDT): Stifel – Buy >> Hold, Price Target: $100 >> $85
• Marinus Pharmaceuticals (MRNS): Ladenburg Thalmann – Buy >> Neutral
• Ranpak (PACK): Robert W. Baird – Outperform >> Neutral, Price Target: $10
• PulteGroup (PHM): Wolfe Research – Outperform >> Peer Perform
• Playa Hotels & Resorts (PLYA): Citigroup – Buy >> Neutral, Price Target: $12 >> $8
• ACELYRIN (SLRN): H.C. Wainwright – Buy >> Neutral, Price Target: $18 >> $6
• IDEX Corp (IEX): Argus – Buy >> Hold

Coverage Initiated (August 14, 2024)

• DTE Energy (DTE): Ladenburg Thalmann – Buy, Price Target: $131
• Enova International (ENVA): BTIG Research – Buy, Price Target: $90
• Korro Bio (KRRO): William Blair – Outperform, Price Target: $180
• Montrose Environmental Group (MEG): Evercore ISI – Outperform, Price Target: $43
• VSE Corp (VSEC): Jefferies – Buy, Price Target: $100
• First Solar (FSLR): Clarksons Platou – Buy, Price Target: $270

August 12th Upgrades, Downgrades, and More

Upgrades:

• Allstate (ALL): Wells Fargo upgraded from Underweight to Equal Weight; price target increased from $142 to $177.
• Blend Labs (BLND): Canaccord Genuity upgraded from Hold to Buy; price target raised from $3 to $4.75.
• Brown & Brown (BRO): Wells Fargo upgraded from Equal Weight to Overweight; price target increased from $94 to $112.
• Churchill Downs (CHDN): BofA Securities upgraded from Neutral to Buy; price target raised from $145 to $155.
• Diageo plc (DEO): RBC Capital Markets upgraded from Underperform to Sector Perform.
• Goldman Sachs BDC (GSBD): Wells Fargo upgraded from Underweight to Equal Weight; price target adjusted from $14 to $12.
• Robinhood Markets (HOOD): Piper Sandler upgraded from Neutral to Overweight; price target raised from $20 to $23.
• Liberty Global (LBTYA): BofA Securities upgraded from Underperform to Neutral; price target raised from $15.5 to $21.3.
• Camden Property (CPT): BofA Securities upgraded from Underperform to Buy; price target increased from $111 to $147.
• Eli Lilly (LLY): Deutsche Bank upgraded from Hold to Buy; price target set at $1025.
• Mid-America Apartment (MAA): BofA Securities upgraded from Underperform to Buy; price target raised from $144 to $189.
• PAR Technology (PAR): Jefferies upgraded from Hold to Buy; price target increased from $45 to $60.
• Prudential (PRU): Wells Fargo upgraded from Underweight to Equal Weight; no price target provided.
• Take-Two (TTWO): HSBC Securities upgraded from Hold to Buy; price target set at $179.
• Zentalis Pharma (ZNTL): Wedbush upgraded from Underperform to Neutral; price target set at $4.
• Power Integrations (POWI): Northland Capital upgraded from Market Perform to Outperform; price target set at $80.
• Progressive (PGR): HSBC Securities upgraded from Hold to Buy; price target set at $253.
• Coherent (COHR): BofA Securities upgraded from Neutral to Buy; price target raised from $65 to $75.
• PennantPark Floating Rate Capital (PFLT): Maxim Group upgraded from Hold to Buy; price target set at $12.
• CBIZ (CBZ): Sidoti upgraded from Neutral to Buy; price target increased from $80 to $86.
• Alcoa (AA): UBS upgraded from Sell to Buy; price target raised from $32 to $38.

Downgrades:

• Algonquin Power & Utilities (AQN): Wells Fargo downgraded from Overweight to Equal Weight; price target reduced from $8.5 to $6.
• Brighthouse Financial (BHF): Wells Fargo downgraded from Equal Weight to Underweight; price target reduced from $51 to $40.
• Bank of Hawaii (BOH): Piper Sandler downgraded from Neutral to Underweight; price target reduced from $70 to $61.
• Hillenbrand (HI): DA Davidson downgraded from Buy to Neutral; price target reduced from $54 to $33.
• Janus International Group (JBI): Wolfe Research downgraded from Outperform to Peer Perform.
• Lion Electric (LEV): DA Davidson downgraded from Buy to Neutral; price target reduced from $1.5 to $1.
• Pacira BioSciences (PCRX): Multiple downgrades:
  • RBC Capital Markets from Outperform to Sector Perform; price target reduced from $37 to $14.
  • Raymond James from Outperform to Market Perform.
  • JP Morgan from Overweight to Underweight; price target reduced from $45 to $10.
  • Piper Sandler from Overweight to Neutral; price target reduced from $42 to $11.
• Prologis (PLD): BofA Securities downgraded from Buy to Neutral; no new price target.
• Piedmont Lithium (PLL): Macquarie downgraded from Outperform to Neutral; price target adjusted from $9.3.
• Pilgrim’s Pride (PPC): BMO Capital Markets downgraded from Outperform to Market Perform; price target reduced from $46.
• Qualcomm (QCOM): Wolfe Research downgraded from Outperform to Peer Perform.
• EchoStar (SATS): JP Morgan downgraded from Neutral to Underweight; price target set at $12.
• Sylvamo (SLVM): BofA Securities downgraded from Buy to Neutral; price target reduced from $71 to $82.
• Triumph Group (TGI): Jefferies downgraded from Buy to Hold; price target reduced from $20 to $14.
• Algonquin Power & Utilities (AQN): Raymond James downgraded from Outperform to Market Perform.
• Gladstone Land (LAND): Maxim Group downgraded from Buy to Hold.
• Ballard Power (BLDP): TD Securities downgraded from Hold to Sell.

Coverage Initiated:

• Arcturus Therapeutics (ARCT): Leerink Partners initiated coverage with an Outperform rating; price target set at $70.
• Ardent Health Partners (ARDT): Multiple firms initiated coverage with varying ratings:
  • Truist: Buy, $21
  • Leerink Partners: Outperform, $23
  • Mizuho: Outperform, $20
  • JP Morgan: Neutral, $18
  • Morgan Stanley: Overweight, $27
  • RBC Capital Markets: Outperform, $23
  • Citigroup: Buy, $21
  • Stephens: Overweight, $24
  • BofA Securities: Buy, $22
  • Loop Capital: Buy, $18
• Conagra (CAG): Goldman initiated coverage with a Buy rating; price target set at $36.
• Hershey Foods (HSY): Goldman initiated coverage with a Sell rating; price target set at $185.
• J. Jill (JILL): TD Cowen initiated coverage with a Hold rating; price target set at $37.
• Kellanova (K): Goldman initiated coverage with a Neutral rating; price target set at $75.
• Kraft Heinz (KHC): Goldman initiated coverage with a Sell rating; price target set at $34.
• LENZ Therapeutics (LENZ): H.C. Wainwright initiated coverage with a Buy rating; price target set at $38.
• Summit Therapeutics (SMMT): H.C. Wainwright initiated coverage with a Buy rating; price target set at $16.
• Solaris Resources Inc. (SLSR): H.C. Wainwright initiated coverage with a Buy rating; price target set at $10.
• USCB Financial Holdings (USCB): Hovde Group initiated coverage with a Market Perform rating; price target set at $16.
• Dave, Inc. (DAVE): The Benchmark Company initiated coverage with a Buy rating; price target set at $53.
• GE Vernova (GEV): HSBC Securities initiated coverage with a Buy rating; price target set at $215.
• General Mills (GIS): Goldman initiated coverage with a Buy rating; price target set at $76.
• Mondelez International (MDLZ): Goldman initiated coverage with a Buy rating; price target set at $80.
• Morningstar (MORN): BMO Capital Markets initiated coverage with an Outperform rating; price target set at $352.
• Tempus AI (TEM): Piper Sandler initiated coverage with a Neutral rating; price target set at $40.
• TWFG, Inc. (TWFG): Multiple firms initiated coverage with varying ratings:
  • Keefe Bruyette: Market Perform, $27
  • UBS: Buy, $29
  • RBC Capital Markets: Outperform, $29
  • JP Morgan: Overweight, $26.5
  • Piper Sandler: Overweight, $27
  • Morgan Stanley: Equal-Weight, $23
  • BMO Capital Markets: Outperform, $30
• GDEV Inc. (GDEV): Noble Capital Markets initiated coverage with an Outperform rating; price target set at $6.