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Analyst Upgrades and Downgrades For the Week of October 28th

Analyst upgrades, downgrades, and more

By Justin Nugent · October 29, 2024
Analyst Upgrades and Downgrades For the Week of October 28th

November 1st

Upgrades

  • argenx (ARGX): William Blair upgraded from Market Perform to Outperform.
  • IdaCorp (IDA): Mizuho upgraded from Neutral to Outperform; price target raised from $102 to $116.
  • Atlassian (TEAM): KeyBanc upgraded from Sector Weight to Overweight; price target set at $260.
  • Wingstop (WING): Northcoast upgraded from Neutral to Buy; price target set at $350.
  • YPF Soc. Anonima (YPF): Citigroup upgraded from Neutral to Buy; price target raised from $24 to $33.
  • Cohu (COHU): Craig Hallum upgraded from Hold to Buy; price target set at $30.
  • Xcel Energy (XEL): Jefferies upgraded from Hold to Buy; price target raised from $71 to $76.
  • Genesis Energy, L.P. (GEL): CapitalOne upgraded from Equal Weight to Overweight.

Downgrades

  • argenx (ARGX): Robert W. Baird downgraded from Outperform to Neutral; price target adjusted from $515 to $650.
  • Estee Lauder (EL): JP Morgan downgraded from Overweight to Neutral; price target lowered from $113 to $74.
  • Hyatt Hotels (H): HSBC downgraded from Buy to Hold; price target set at $156.
  • Huntington Ingalls (HII): TD Cowen downgraded from Buy to Hold; price target set at $180.
  • Kellanova (K): Exane BNP Paribas downgraded from Outperform to Neutral; price target set at $83.
  • Kontoor Brands (KTB): Stifel downgraded from Buy to Hold; price target adjusted from $89 to $93.
  • Open Text (OTEX): RBC downgraded from Outperform to Sector Perform; price target lowered from $45 to $33.
  • Pampa Energia S.A. (PAM): Citigroup downgraded from Buy to Neutral; price target set at $58.
  • PTC (PTC): Berenberg downgraded from Buy to Hold; price target lowered from $210 to $196.
  • Smith & Nephew (SNN): Deutsche Bank downgraded from Buy to Hold.
  • Zymeworks (ZYME): Wells Fargo downgraded from Overweight to Equal Weight; price target set at $12.
  • Cinemark (CNK): Wedbush downgraded from Outperform to Neutral; price target set at $32.
  • Malibu Boats (MBUU): DA Davidson downgraded from Buy to Neutral; price target set at $45.
  • Huntington Ingalls (HII): Alembic Global Advisors downgraded from Overweight to Neutral; price target set at $210.
  • Northwest Pipe (NWPX): Northland Capital downgraded from Outperform to Market Perform.
  • Teekay Tankers (TNK): BofA Securities downgraded from Buy to Neutral.
  • NNN REIT (NNN): Colliers downgraded from Buy to Neutral.

Coverage Initiated

  • Boise Cascade (BCC): Loop Capital initiated coverage with a Buy rating; price target set at $155.
  • Penguin Solutions (PENG): Goldman initiated coverage with a Buy rating; price target set at $21.

October 31st

Upgrades

  • Banc of California (BANC): Barclays upgraded from Equal Weight to Overweight; price target raised from $17 to $18.
  • Danaher (DHR): Wolfe Research upgraded from Peer Perform to Outperform.
  • KLA Corporation (KLAC): Oppenheimer upgraded from Perform to Outperform; price target raised from $750 to $850.
  • Meritage (MTH): Goldman upgraded from Neutral to Buy; price target raised from $205 to $235.
  • Omega Health (OHI): Exane BNP Paribas upgraded from Neutral to Outperform.
  • Regions Financial (RF): Keefe Bruyette upgraded from Market Perform to Outperform; price target raised from $27 to $28.
  • Smurfit Westrock plc (SW): RBC Capital Markets upgraded from Sector Perform to Outperform; price target raised from $52 to $58.
  • Valley National (VLY): Barclays upgraded from Underweight to Equal Weight; price target raised from $9 to $10.
  • Wingstop (WING): BTIG Research upgraded from Neutral to Buy.
  • Envista (NVST): Leerink Partners upgraded from Underperform to Market Perform; price target raised from $16 to $23.
  • L3Harris (LHX): BofA Securities upgraded from Neutral to Buy.
  • Wingstop (WING): The Benchmark Company upgraded from Hold to Buy; price target raised from $340.
  • Electronic Arts (EA): DZ Bank upgraded from Hold to Buy; price target raised from $135 to $177.
  • Alphabet A (GOOGL): China Renaissance upgraded from Hold to Buy.
  • Remitly Global (RELY): Wells Fargo upgraded from Underweight to Equal Weight; price target raised from $13 to $18.
  • OneSpan (OSPN): Sidoti upgraded from Neutral to Buy; price target raised from $14 to $19.
  • Cinemark (CNK): Barrington Research upgraded from Market Perform to Outperform.
  • Uber (UBER): Gordon Haskett upgraded from Hold to Buy.
  • Annaly Capital Management (NLY): Argus upgraded from Hold to Buy.

Downgrades

  • Arm Holdings plc (ARM): Bernstein downgraded from Market Perform to Underperform.
  • Biogen (BIIB): Morgan Stanley downgraded from Overweight to Equal-Weight; price target reduced from $285 to $204.
  • Blackbaud (BLKB): Robert W. Baird downgraded from Outperform to Neutral; price target reduced from $92 to $80.
  • Brinker (EAT): BMO Capital Markets downgraded from Outperform to Market Perform; price target raised from $80 to $105. JP Morgan also downgraded from Overweight to Neutral; price target raised from $67 to $100.
  • First Interstate Bancsystem (FIBK): Barclays downgraded from Equal Weight to Underweight; price target reduced from $32 to $30.
  • GlaxoSmithKline (GSK): Guggenheim downgraded from Buy to Neutral.
  • Kraft Heinz (KHC): Deutsche Bank downgraded from Buy to Hold; price target reduced from $39 to $35.
  • Option Care Health (OPCH): Jefferies downgraded from Buy to Hold; price target reduced from $38 to $26.
  • TE Connectivity (TEL): HSBC downgraded from Hold to Reduce.
  • Trane (TT): HSBC downgraded from Buy to Hold.
  • FirstEnergy (FE): Seaport Research Partners downgraded from Buy to Neutral.
  • WillScot Mobile Mini (WSC): Deutsche Bank downgraded from Buy to Hold; price target reduced from $46 to $35.
  • Monolithic Power (MPWR): Rosenblatt downgraded from Buy to Neutral.
  • Super Micro Computer (SMCI): Argus downgraded from Buy to Hold.
  • Omnicell (OMCL): BofA Securities downgraded from Buy to Neutral; price target reduced from $44 to $57.
  • Estee Lauder (EL): Multiple downgrades from various firms, including Stifel, Citigroup, and Wells Fargo, with price targets significantly reduced.

Coverage Initiated

  • Alumis (ALMS): Robert W. Baird rated Outperform with a price target of $25.
  • Terns Pharmaceuticals (TERN): Oppenheimer rated Outperform with a price target of $82.
  • Vanda Pharma (VNDA): H.C. Wainwright rated Buy with a price target of $18.
  • ORIC Pharmaceuticals (ORIC): Wells Fargo rated Overweight with a price target of $20.
  • Braze (BRZE): Macquarie rated Neutral with a price target of $30.
  • Klaviyo (KVYO): Macquarie rated Neutral with a price target of $36.
  • Cemig (CIG): Scotiabank rated Sector Perform.

October 30th

Upgrades

  • KE Holdings (BEKE): BofA Securities upgraded from Neutral to Buy; price target raised from $24 to $28.
  • Boot Barn Holdings (BOOT): Robert W. Baird upgraded from Neutral to Outperform.
  • Civista Bancshares (CIVB): Hovde Group upgraded from Market Perform to Outperform; price target set at $22.
  • CTO Realty Growth (CTO): Raymond James upgraded from Outperform to Strong Buy; price target raised from $22 to $24.
  • Camping World (CWH): Raymond James upgraded from Market Perform to Outperform; price target set at $27.
  • Leggett & Platt (LEG): Piper Sandler upgraded from Underweight to Neutral; price target raised from $11 to $13.
  • Selective Insurance (SIGI): BMO Capital Markets upgraded from Market Perform to Outperform; price target raised from $95 to $105.
  • German American Bancorp (GABC): Hovde Group upgraded from Market Perform to Outperform; price target raised from $41 to $48.
  • Alphabet (GOOG): Seaport Research Partners upgraded from Neutral to Buy; price target set at $200.
  • PROS Holdings (PRO): Craig Hallum upgraded from Hold to Buy; price target set at $31.
  • GE Vernova (GEV): Daiwa Securities upgraded from Outperform to Buy.
  • Labcorp Holdings Inc. (LH): HSBC Securities upgraded from Hold to Buy.
  • Daqo New Energy (DQ): Daiwa Securities upgraded from Neutral to Outperform.

Downgrades

  • Agilon Health (AGL): Citigroup downgraded from Neutral to Sell; price target lowered from $7 to $2.5.
  • Boeing (BA): Bernstein downgraded from Outperform to Market Perform.
  • Check Point Software (CHKP): BofA Securities downgraded from Buy to Neutral; price target lowered from $205 to $195.
  • DT Midstream (DTM): Stifel downgraded from Buy to Hold; price target set at $78.
  • Barrick (GOLD): UBS downgraded from Buy to Neutral; price target lowered from $23 to $22.
  • Hudson Technologies (HDSN): B. Riley Securities downgraded from Buy to Neutral; price target lowered from $10 to $8.5.
  • Kratos Defense and Security (KTOS): B. Riley Securities downgraded from Buy to Neutral; price target lowered from $24 to $26.
  • Lear (LEA): Barclays downgraded from Overweight to Equal Weight; price target lowered from $140 to $120.
  • Lyell Immunopharma (LYEL): BofA Securities downgraded from Buy to Underperform; price target lowered from $6 to $1.
  • Lloyds Banking (LYG): Morgan Stanley downgraded from Overweight to Equal-Weight.
  • Masco (MAS): RBC Capital Markets downgraded from Outperform to Sector Perform; price target raised from $79 to $80.
  • Newmont Corporation (NEM): UBS downgraded from Buy to Neutral; price target lowered from $67 to $54.
  • Qorvo (QRVO): Multiple downgrades from Outperform to Market Perform by Exane BNP Paribas and Raymond James.
  • Williams-Sonoma (WSM): Wedbush downgraded from Outperform to Neutral; price target lowered from $150 to $135.
  • Grocery Outlet (GO): Multiple downgrades to Neutral and Market Perform by BofA Securities and Telsey Advisory Group.
  • Option Care Health (OPCH): BofA Securities downgraded from Buy to Neutral; price target lowered from $43 to $29.

New Coverage Initiated

  • Veritone (VERI): UBS initiated coverage with a Neutral rating; price target set at $3.5.
  • NANO Nuclear Energy (NNE): H.C. Wainwright initiated coverage with a Buy rating; price target set at $50.
  • FibroBiologics (FBLG): H.C. Wainwright initiated coverage with a Buy rating; price target set at $12.

October 29th

Upgrades

  • Philips (PHG): Jefferies upgraded from Underperform to Hold.
  • Summit Materials (SUM): Barclays upgraded from Equal Weight to Overweight; price target raised from $45 to $52.
  • Coca-Cola FEMSA (KOF): Citigroup upgraded from Neutral to Buy; price target raised from $93 to $102.
  • First Solar (FSLR): Janney upgraded from Neutral to Buy; price target set at $260.
  • Regions Financial (RF): Stephens upgraded from Equal-Weight to Overweight; price target set at $26.
  • ProQR Therapeutics (PRQR): Raymond James upgraded from Outperform to Strong Buy; price target raised from $6 to $14.
  • TechnipFMC (FTI): HSBC upgraded from Hold to Buy; price target set at $32.
  • Incyte (INCY): BofA Securities upgraded from Neutral to Buy; price target raised from $68 to $90.

Downgrades

  • CEMEX S.A. (CX): JP Morgan downgraded from Overweight to Neutral; price target lowered from $7 to $6.
  • Redwire Corporation (RDW): B. Riley downgraded from Buy to Neutral; price target raised from $8 to $9.5.
  • Tapestry (TPR): TD Cowen downgraded from Buy to Hold; price target set at $52.
  • Celanese (CE): Vertical Research downgraded from Hold to Sell; price target set at $130.
  • The Trade Desk (TTD): New Street downgraded from Neutral to Sell; price target set at $86.
  • Harmonic (HLIT): Raymond James downgraded from Strong Buy to Outperform; price target lowered from $17 to $14. Jefferies also downgraded from Buy to Hold.

Coverage Initiated

  • Arcosa (ACA): Barclays initiated coverage with an Overweight rating; price target set at $106.
  • AppLovin (APP): Wells Fargo initiated coverage with an Overweight rating; price target set at $200.
  • CRH Plc. (CRH): Barclays initiated coverage with an Overweight rating; price target set at $110.
  • Criteo (CRTO): Wells Fargo initiated coverage with an Overweight rating; price target set at $70.
  • Curtiss-Wright (CW): Alembic Global Advisors initiated coverage with an Overweight rating; price target set at $412.
  • DoubleVerify (DV): Wells Fargo initiated coverage with an Underweight rating; price target set at $14.
  • Evergy (EVRG): Mizuho initiated coverage with an Outperform rating; price target set at $67.
  • Genelux (GNLX): Guggenheim initiated coverage with a Buy rating; price target set at $8.
  • Magnite (MGNI): Wells Fargo initiated coverage with an Equal Weight rating; price target set at $13.
  • LiveRamp (RAMP): Wells Fargo initiated coverage with an Equal Weight rating; price target set at $25.
  • RxSight (RXST): Jefferies initiated coverage with a Buy rating; price target set at $72.
  • TG Therapeutics (TGTX): TD Cowen initiated coverage with a Buy rating; price target set at $50.
  • The Trade Desk (TTD): Wells Fargo initiated coverage with an Overweight rating; price target raised to $150.
  • Unity Software (U): Wells Fargo initiated coverage with an Equal Weight rating; price target set at $20.
  • Six Flags Entertainment (FUN): Guggenheim initiated coverage with a Buy rating; price target set at $52.
  • HIVE Digital Technologies (HIVE): Cantor Fitzgerald initiated coverage with an Overweight rating; price target set at $9.
  • Stardust Power (SDST): B. Riley Securities initiated coverage with a Buy rating; price target set at $12.
  • Grainger (GWW): Northcoast initiated coverage with a Neutral rating.

October 28th

Upgrades

  • AAON (AAON): Robert W. Baird from Neutral to Outperform; PT from $114 to $130
  • Ameris Bancorp (ABCB): Raymond James from Market Perform to Outperform; PT $67
  • Alaska Air (ALK): Melius from Hold to Buy; PT $56
  • Aon (AON): Wells Fargo from Underweight to Equal Weight; PT from $315 to $377
  • Community Financial System (CBU): Raymond James from Market Perform to Strong Buy; PT $67
  • Dover (DOV): Wolfe Research from Peer Perform to Outperform; PT $227
  • Federated Hermes (FHI): TD Cowen from Hold to Buy; PT from $35 to $46
  • Kinsale Capital (KNSL): Wolfe Research from Peer Perform to Outperform; PT $535
  • NIO (NIO): Macquarie from Neutral to Outperform; PT $6.60
  • Nutanix (NTNX): Morgan Stanley from Equal-Weight to Overweight; PT from $71 to $72
  • Telus (TU): Scotiabank from Sector Perform to Sector Outperform

Downgrades

  • CDW (CDW): JP Morgan from Overweight to Neutral; PT from $260 to $235
  • Ciena (CIEN): Morgan Stanley from Overweight to Equal-Weight; PT $63
  • Colgate-Palmolive (CL): Stifel from Buy to Hold; PT from $105 to $101
  • CNX Resources (CNX): Truist from Buy to Hold; PT from $38 to $34
  • Frontier Communications Parent (FYBR): Raymond James from Strong Buy to Market Perform
  • GlobalFoundries (GFS): Morgan Stanley from Overweight to Equal-Weight; PT from $53 to $43
  • Honeywell (HON): Wolfe Research from Outperform to Peer Perform
  • HomeTrust Bank (HTBI): Raymond James from Outperform to Market Perform
  • Newmont Corporation (NEM): CIBC from Sector Outperform to Neutral
  • NextEra Energy Partners (NEP): Guggenheim from Buy to Neutral; PT from $37 to $22
  • TriNet Group (TNET): Needham from Buy to Hold
  • United Micro (UMC): Morgan Stanley from Overweight to Equal-Weight
  • WEX (WEX): Wolfe Research from Outperform to Peer Perform
  • WSFS Financial (WSFS): Janney from Buy to Neutral
  • Evolv Technologies Holdings (EVLV): Northland Capital from Outperform to Market Perform

Coverage Initiated

  • Antero Resources (AR): BofA Securities; Buy; PT $36
  • Bowlero (BOWL): Piper Sandler; Neutral; PT $12
  • Core Scientific (CORZ): Jefferies; Buy; PT $19
  • Comstock (CRK): BofA Securities; Buy; PT $14
  • Ceragon (CRNT): ROTH MKM; Buy; PT $4.50
  • FrontView REIT (FVR): BofA Securities; Buy; PT $22 (various ratings from different firms)
  • Navigator Holdings (NVGS): Alliance Global Partners; Buy; PT $24
  • StandardAero (SARO): Multiple ratings including Buy, Outperform, and Neutral from various firms with PTs ranging from $33 to $39
  • Serve Robotics (SERV): Ladenburg Thalmann; Buy; PT $16
  • Coinbase Global (COIN): Monness Crespi & Hardt; Buy; PT $245
  • Crescent Energy Company (CRGY): Pickering Energy Partners; Outperform
  • Micron (MU): China Renaissance; Buy; PT $148