Analyst Upgrades and Downgrades For the Week of December 9th

Upgrades (December 11, 2024)

• Amcor (AMCR) – BofA Securities – Underperform>>Buy – $12.5
• AXIS Capital (AXS) – Wells Fargo – Underweight>>Equal Weight – $78>>$89
• Blackstone Mortgage Trust (BXMT) – Wolfe Research – Peer Perform>>Outperform – $20
• EastGroup (EGP) – Raymond James – Outperform>>Strong Buy – $185>>$200
• Fox Factory Holding (FOXF) – Stifel – Hold>>Buy – $40
• Glaukos (GKOS) – Citigroup – Neutral>>Buy – $132>>$162
• ICU Medical (ICUI) – Jefferies – Hold>>Buy – $200
• Mueller Industries (MLI) – Northcoast – Neutral>>Buy – $105
• Merit Medical (MMSI) – Wells Fargo – Equal Weight>>Overweight – $103>>$120
• Mettler-Toledo (MTD) – Citigroup – Sell>>Neutral – $1200>>$1300
• Penumbra (PEN) – Wells Fargo – Equal Weight>>Overweight – $190>>$275
• Owens Corning (OC) – Barclays – Equal Weight>>Overweight – $192>>$245
• Sportsman’s Warehouse (SPWH) – B. Riley Securities – Neutral>>Buy – $2>>$4
• QuidelOrtho (QDEL) – Citigroup – Neutral>>Buy – $44>>$50
• Wolverine (WWW) – Stifel – Hold>>Buy – $21>>$29
• Taylor Morrison Home (TMHC) – Barclays – Equal Weight>>Overweight – $75>>$90
• Rockwell Automation (ROK) – HSBC Securities – Hold>>Buy – $355
• Martin Marietta (MLM) – HSBC Securities – Hold>>Buy – $690
• Honeywell (HON) – HSBC Securities – Hold>>Buy – $290
• Frontier Group Holdings (ULCC) – Deutsche Bank – Hold>>Buy – $6>>$8
• Int’l Consolidated Airlines (ICAGY) – Deutsche Bank – Hold>>Buy
• Man Group (MNGPF) – Canaccord Genuity – Sell>>Buy
• Publicis (PUBGY) – JP Morgan – Neutral>>Overweight
• Reckitt Benckiser (RBGLY) – HSBC Securities – Hold>>Buy
• Diageo plc (DEO) – UBS – Sell>>Buy

Downgrades (December 11, 2024):

• C3.ai (AI) – JP Morgan – Neutral>>Underweight – $28
• Ardagh Metal Packaging S.A. (AMBP) – BofA Securities – Buy>>Underperform – $4.9>>$4
• Bausch + Lomb (BLCO) – Citigroup – Buy>>Neutral – $24>>$22
• The Baldwin Group (BWIN) – Wells Fargo – Equal Weight>>Underweight – $43>>$41
• Cogent Biosciences (COGT) – Needham – Buy>>Hold
• CervoMed (CRVO) – Morgan Stanley – Overweight>>Underweight
• CervoMed (CRVO) – Chardan Capital Markets – Buy>>Neutral
• CEMEX S.A. (CX) – RBC Capital Mkts – Sector Perform>>Underperform – $6>>$5
• Sprinklr (CXM) – JP Morgan – Overweight>>Neutral – $11
• Duolingo (DUOL) – BofA Securities – Buy>>Neutral – $355>>$375
• Editas Medicine (EDIT) – Wells Fargo – Overweight>>Equal Weight – $7>>$4
• E2open (ETWO) – Goldman – Neutral>>Sell – $3.5>>$2.9
• Fastenal (FAST) – Stifel – Buy>>Hold – $86
• FS KKR Capital (FSK) – B. Riley Securities – Buy>>Neutral – $21.5
• Fortrea (FTRE) – Citigroup – Buy>>Neutral – $30>>$23
• General Dynamics (GD) – Wolfe Research – Outperform>>Peer Perform
• Illumina (ILMN) – Citigroup – Buy>>Neutral – $190>>$165
• Pulmonx (LUNG) – Citigroup – Buy>>Neutral – $17>>$7.5
• LAVA Therapeutics (LVTX) – JMP Securities – Mkt Outperform>>Mkt Perform
• Magna (MGA) – Goldman – Neutral>>Sell – $42>>$41
• Monroe Capital (MRCC) – B. Riley Securities – Neutral>>Sell – $7.25
• PagerDuty (PD) – JP Morgan – Neutral>>Underweight – $21
• Principal Fincl (PFG) – Wells Fargo – Equal Weight>>Underweight – $84>>$75
• Oaktree Specialty Lending Corp (OCSL) – B. Riley Securities – Neutral>>Sell – $15
• Lennar (LEN) – Barclays – Overweight>>Equal Weight – $210>>$181
• KB Home (KBH) – Barclays – Overweight>>Equal Weight – $99>>$85
• Dave & Buster’s (PLAY) – Gordon Haskett – Buy>>Hold – $40>>$34
• Dave & Buster’s (PLAY) – Truist – Buy>>Hold – $56>>$36
• Dave & Buster’s (PLAY) – William Blair – Outperform>>Mkt Perform
• Prologis (PLD) – Raymond James – Strong Buy>>Outperform – $130>>$125
• Q32 Bio (QTTB) – Leerink Partners – Outperform>>Market Perform – $68>>$9
• Q32 Bio (QTTB) – Raymond James – Strong Buy>>Outperform – $90>>$22
• Q32 Bio (QTTB) – Wells Fargo – Overweight>>Equal Weight – $95>>$16
• RxSight (RXST) – Wells Fargo – Overweight>>Equal Weight – $56>>$42
• Sirius XM (SIRI) – Seaport Research Partners – Buy>>Neutral
• Sylvamo (SLVM) – BofA Securities – Neutral>>Underperform – $96
• Spruce Biosciences (SPRB) – Oppenheimer – Outperform>>Perform
• Spruce Biosciences (SPRB) – JMP Securities – Mkt Outperform>>Mkt Perform
• Travelers (TRV) – Wells Fargo – Equal Weight>>Underweight – $256>>$217
• Voya Financial (VOYA) – BofA Securities – Buy>>Neutral – $91>>$83
• D.R. Horton (DHI) – Barclays – Overweight>>Equal Weight – $192>>$170
• PulteGroup (PHM) – Barclays – Overweight>>Equal Weight – $150>>$140
• GE Vernova (GEV) – Daiwa Securities – Buy>>Outperform – $336>>$348
• Full Truck Alliance Co. Ltd. (YMM) – JP Morgan – Overweight>>Neutral – $12>>$13
• Fastenal (FAST) – HSBC Securities – Hold>>Reduce – $70
• General Motors (GM) – HSBC Securities – Buy>>Hold – $58
• Q32 Bio (QTTB) – Guggenheim – Buy>>Neutral
• Samsung (SSNLF) – JP Morgan – Overweight>>Neutral
• AnaptysBio (ANAB) – H.C. Wainwright – Buy>>Neutral – $52>>$19

Coverage Initiated (December 11, 2024):

• Agilon Health (AGL) – Bernstein – Mkt Perform – $2.5
• ANI Pharma (ANIP) – Leerink Partners – Outperform – $80
• American States Water (AWR) – BofA Securities – Neutral – $85
• Bloom Energy (BE) – ROTH MKM – Neutral – $25
• BioNTech (BNTX) – Wells Fargo – Overweight – $170
• California Water (CWT) – BofA Securities – Buy – $57
• First Advantage Corp. (FA) – BMO Capital Markets – Outperform – $20
• Chatham Lodging (CLDT) – Alliance Global Partners – Buy – $12
• ITT (ITT) – Wolfe Research – Peer Perform
• Monolithic Power (MPWR) – Citigroup – Buy – $700
• Middlesex Water (MSEX) – BofA Securities – Underperform – $56
• OneStream (OS) – Goldman – Buy – $37
• Realty Income (O) – Deutsche Bank – Hold – $62
• NNN REIT (NNN) – Deutsche Bank – Hold – $46
• Powell Inds (POWL) – ROTH MKM – Buy – $312
• PPL Corp (PPL) – BMO Capital Markets – Outperform – $36
• Primoris Services (PRIM) – KeyBanc Capital Markets – Overweight – $96
• Reddit (RDDT) – Wells Fargo – Overweight – $206
• Sweetgreen (SG) – KeyBanc Capital Markets – Sector Weight
• Summit Therapeutics (SMMT) – Wells Fargo – Overweight – $30
• Similarweb (SMWB) – Goldman – Buy – $16
• Zeta Global (ZETA) – Goldman – Neutral – $30
• Essential Properties Realty Trust (EPRT) – Deutsche Bank – Buy – $38

Upgrades (December 9, 2024)

• BNY Mellon (BK) – Upgraded from Equal-Weight to Overweight by Morgan Stanley, PT raised from $82 to $94.
• Blackstone (BX) – Upgraded from Hold to Buy by TD Cowen, PT raised from $149 to $230.
• Coca-Cola European Partners (CCEP) – Upgraded from Equal-Weight to Overweight by Morgan Stanley.
• C.H. Robinson (CHRW) – Upgraded from Equal-Weight to Overweight by Wells Fargo, PT raised from $118 to $130.
• Hess (HES) – Upgraded from Equal-Weight to Overweight by Wells Fargo, PT raised from $151 to $193.
• Robinhood Markets (HOOD) – Upgraded from Equal-Weight to Overweight by Barclays, PT raised from $26 to $49.
• PayPal (PYPL) – Upgraded from Neutral to Buy by BofA Securities, PT raised from $86 to $103.
• The RealReal (REAL) – Upgraded from Equal-Weight to Overweight by Wells Fargo, PT raised from $4 to $15.
• Synchrony Financial (SYF) – Upgraded from Neutral to Overweight by JP Morgan, PT raised from $59 to $72.
• TaskUs (TASK) – Upgraded from Neutral to Buy by BofA Securities.
• Xylem (XYL) – Upgraded from Neutral to Buy by Citigroup, PT raised from $135 to $148.
• Infosys (INFY) – Upgraded from Hold to Buy by HSBC Securities.

Downgrades (December 9, 2024)

• Advanced Micro Devices (AMD) – Downgraded from Buy to Neutral by BofA Securities, PT lowered from $180 to $155.
• Bank of America (BAC) – Downgraded from Overweight to Equal-Weight by Morgan Stanley, PT lowered from $48 to $55.
• Biogen (BIIB) – Downgraded from Buy to Hold by Jefferies, PT lowered from $250 to $180.
• BioAge Labs (BIOA) – Downgraded from Buy to Neutral by Citigroup and Jefferies, PT lowered from $45 to $7.
• Capital One (COF) – Downgraded from Buy to Neutral by BofA Securities, PT lowered from $203 to $200.
• PBF Energy (PBF) – Downgraded from Overweight to Equal Weight by Wells Fargo, PT lowered from $39 to $34.
• Regions Financial (RF) – Downgraded from Overweight to Equal-Weight by Morgan Stanley, PT lowered from $28 to $32.
• SoFi Technologies (SOFI) – Downgraded from Neutral to Underperform by BofA Securities.
• Vodafone PLC (VOD) – Downgraded from Buy to Neutral by Goldman Sachs.
• Victoria’s Secret (VSCO) – Downgraded from Overweight to Equal-Weight by Wells Fargo, PT lowered from $33 to $45.

New Coverage Initiated (December 9, 2024)

• Apple Hospitality REIT (APLE) – Initiated Outperform by BMO Capital Markets, PT $18.
• Bentley Systems (BSY) – Initiated Neutral by JP Morgan, PT $52.
• eBay (EBAY) – Initiated Neutral by Wedbush, PT $70.
• Hallador Energy (HNRG) – Initiated Buy by Alliance Global Partners, PT $17.
• Rivian Automotive (RIVN) – Initiated Buy by The Benchmark Company, PT $18.
• Pharming Group N.V. (PHAR) – Initiated Buy by Jefferies, PT $14.
• Talkspace (TALK) – Initiated Overweight by KeyBanc Capital Markets, PT $4.5.
• Qualcomm (QCOM) – Initiated Hold by Melius, PT $180.