Various

Analyst Upgrades and Downgrades For the Week of October 7th

Analyst upgrades, downgrades, and more

By Justin Nugent · October 7, 2024

October 11th

Upgrades

Affirm (AFRM): Wells Fargo upgraded from Equal Weight to Overweight; price target increased from $40 to $52.
Kinder Morgan (KMI): BofA Securities upgraded from Neutral to Buy; price target raised from $23 to $27.
Ferrari (RACE): JP Morgan upgraded from Neutral to Overweight; price target increased from $385 to $525.
United Natural Foods (UNFI): Northcoast upgraded from Neutral to Buy.

Downgrades

ProFrac Holding (ACDC): Stifel downgraded from Buy to Hold; price target set at $7.
Flywire (FLYW): Wells Fargo downgraded from Overweight to Equal Weight; price target lowered from $20 to $18.
General Dynamics (GD): Seaport Research Partners downgraded from Buy to Neutral.
General Motors (GM): DZ Bank downgraded from Buy to Hold; price target set at $49.
Mobileye Global (MBLY): Mizuho downgraded from Outperform to Neutral; price target slashed from $30 to $13.
ArcelorMittal (MT): JP Morgan downgraded from Overweight to Neutral.
The Duckhorn Portfolio (NAPA): RBC Capital downgraded from Outperform to Sector Perform.
Qorvo (QRVO): Morgan Stanley downgraded from Overweight to Equal Weight; price target lowered from $130 to $120.
Sociedad Quimica y Minera (SQM): JP Morgan downgraded from Overweight to Neutral; price target cut from $55 to $44.
Toronto-Dominion Bank (TD): RBC Capital downgraded from Outperform to Sector Perform.
Star Bulk Carriers (SBLK): DNB Markets downgraded from Hold to Sell.
HUYA (HUYA): HSBC Securities downgraded from Buy to Hold.

Coverage Initiated

Acadia Healthcare (ACHC): KeyBanc Capital Markets initiated coverage with Sector Weight.
Addus HomeCare (ADUS): KeyBanc Capital Markets initiated with Overweight and a price target of $150.
Alignment Healthcare (ALHC): KeyBanc Capital Markets initiated with Sector Weight.
Amazon (AMZN): Pivotal Research Group initiated coverage with Buy ($260) and Scotiabank initiated with Sector Outperform ($245).
ANI Pharma (ANIP): Piper Sandler initiated with Overweight and a price target of $68.
Ardent Health Partners (ARDT): KeyBanc Capital Markets initiated with Overweight and a price target of $24.
Axos Financial (AX): Needham initiated coverage with Buy and a price target of $82.
Encompass Health (EHC): KeyBanc Capital Markets initiated with Overweight and a price target of $115.
Evolent Health (EVH): KeyBanc Capital Markets initiated with Overweight and a price target of $35.
Alphabet (GOOG): Scotiabank initiated coverage with Sector Outperform ($212).
MercadoLibre (MELI): Redburn Atlantic initiated with Buy and a price target of $2800.
Monopar Therapeutics (MNPR): Rodman & Renshaw initiated with Buy and a price target of $50.
Nurix Therapeutics (NRIX): Jefferies initiated with Buy and a price target of $41.
Oruka Therapeutics (ORKA): Stifel initiated with Buy and a price target of $49.
Privia Health (PRVA): KeyBanc Capital Markets initiated with Overweight and a price target of $23.
Tenet Healthcare (THC): KeyBanc Capital Markets initiated with Overweight and a price target of $200.
UnitedHealth (UNH): KeyBanc Capital Markets initiated with Overweight and a price target of $675.
V.F. Corp (VFC): Goldman Sachs initiated with Neutral and a price target of $20.
V2X (VVX): Robert W. Baird initiated with Outperform and a price target of $75.
Cardlytics (CDLX): Evercore ISI initiated with In-line and a price target of $4.

October 9th

Upgrades:

Affirm (AFRM): Morgan Stanley from Underweight to Equal-Weight; PT $22 to $37.
Home Depot (HD): Loop Capital from Hold to Buy; PT $360 to $460.
Inter & Co (INTR): JP Morgan from Neutral to Overweight; PT $7.5 to $8.5.
Lowe’s (LOW): Loop Capital from Hold to Buy; PT $250 to $300.
LPL Financial (LPLA): Wells Fargo from Equal Weight to Overweight; PT $235 to $285.
Southwest Air (LUV): Jefferies from Underperform to Hold; PT $24 to $32.
MSCI (MSCI): Redburn Atlantic from Neutral to Buy; PT not specified.
Norwegian Cruise Line (NCLH): Citigroup from Neutral to Buy; PT $20 to $30.
Raymond James (RJF): JMP Securities from Market Perform to Market Outperform; PT not specified.
Saia (SAIA): Wolfe Research from Peer Perform to Outperform; PT $511.
Valero Energy (VLO): Wells Fargo from Equal Weight to Overweight; PT $172 to $165.
VNET Group (VNET): HSBC Securities from Hold to Buy; PT $5.2.

Downgrades:

ArcBest (ARCB): Wolfe Research from Outperform to Peer Perform; PT not specified.
BP (BP): Exane BNP Paribas from Outperform to Neutral; PT not specified.
Blackstone (BX): Piper Sandler from Overweight to Neutral; PT $149.
Ciena (CIEN): Exane BNP Paribas from Outperform to Neutral; PT $59 to $67.
Commercial Metals (CMC): Wolfe Research from Outperform to Peer Perform; PT not specified.
FactSet (FDS): Redburn Atlantic from Neutral to Sell; PT $420 to $380.
Morningstar (MORN): Redburn Atlantic from Buy to Neutral; PT $340.
Vale S.A. (VALE): Wolfe Research from Peer Perform to Underperform; PT not specified.
Exxon Mobil (XOM): Exane BNP Paribas from Neutral to Underperform; PT $105.
ING Groep (ING): Deutsche Bank from Buy to Hold; PT not specified.

New Coverage Initiated:

AFC Gamma (AFCG): Seaport Research Partners; Buy; PT $13.
Aflac (AFL): TD Cowen; Hold; PT $102.
ArcBest (ARCB): Citigroup; Neutral; PT $111.
Blue Bird (BLBD): BTIG Research; Buy; PT $55.
C.H. Robinson (CHRW): Citigroup; Neutral; PT $115.
Chewy (CHWY): TD Cowen; Buy; PT $38.
Canadian Nat’l Rail (CNI): Citigroup; Neutral; PT $125.
Canadian Pacific Kansas City Ltd. (CP): Citigroup; Buy; PT $97.
Corebridge Financial (CRBG): TD Cowen; Buy; PT $35.
Crocs (CROX): Guggenheim; Buy; PT $182.
CSX (CSX): Citigroup; Buy; PT $42.
Deckers Outdoor (DECK): Guggenheim; Neutral; PT not specified.
FedEx (FDX): Citigroup; Buy; PT $301.
Shift4 Payments (FOUR): Barclays; Overweight; PT $120.
G-III Apparel (GIII): Guggenheim; Buy; PT $36.
Globe Life (GL): TD Cowen; Buy; PT $150.
GitLab (GTLB): Morgan Stanley; Overweight; PT $70.
GXO Logistics (GXO): Citigroup; Buy; PT $60.
Hewlett Packard Enterprise (HPE): Deutsche Bank; Hold; PT $22.
J.B. Hunt Transport (JBHT): Citigroup; Buy; PT $201.
Knight-Swift (KNX): Citigroup; Neutral; PT $55.
Kyverna Therapeutics (KYTX): Rodman & Renshaw; Buy; PT $16.
Lincoln National (LNC): TD Cowen; Hold; PT $34.
MetLife (MET): TD Cowen; Buy; PT $97.
Nkarta (NKTX): Rodman & Renshaw; Buy; PT $14.
Norfolk Southern (NSC): Citigroup; Buy; PT $294.
Old Dominion (ODFL): Citigroup; Neutral; PT $206.
PACS Group (PACS): UBS; Buy; PT $50.
Primerica (PRI): TD Cowen; Buy; PT $314.
Prudential (PRU): TD Cowen; Hold; PT $130.
Reddit (RDDT): Jefferies; Buy; PT $90.
Reinsurance Group of America (RGA): TD Cowen; Hold; PT $235.
RXO, Inc. (RXO): Citigroup; Buy; PT $33.
Saia (SAIA): Citigroup; Buy; PT $518.
Schneider National (SNDR): Citigroup; Neutral; PT $29.
Sound Point Meridian Capital (SPMC): B. Riley Securities; Buy; PT $22.5.
TFI International (TFII): Citigroup; Buy; PT $159.
Union Pacific (UNP): Citigroup; Neutral; PT $264.
UPS (UPS): Citigroup; Buy; PT $162.
Werner Enterprises (WERN): Citigroup; Sell; PT $34.
XPO, Inc. (XPO): Citigroup; Buy; PT $127.
New York Times (NYT): Deutsche Bank; Buy; PT $65.
RLI Corp (RLI): Wolfe Research; Outperform; PT $182.
SAB BIO (SABS): Craig Hallum; Buy; PT $11.
Steelcase (SCS): Noble Capital Markets; Outperform; PT not specified.
Bitdeer Technologies (BTDR): Northland Capital; Outperform; PT $13.
Con Edison (ED): Jefferies; Hold; PT $108.

OCTOBER 8TH:

Upgrades

Affirm (AFRM): BTIG Research upgraded from Neutral to Buy; Price Target: $68
CEMEX S.A. (CX): RBC Capital Markets upgraded from Underperform to Sector Perform; Price Target revised from $9 to $6.5
Humana (HUM): Bernstein upgraded from Market Perform to Outperform; Price Target: $308
Sun Country Airlines (SNCY): Wolfe Research upgraded from Peer Perform to Outperform; Price Target: $14
Ubisoft (UBSFY): UBS upgraded from Sell to Neutral
UWM Holdings (UWMC): Barclays upgraded from Underweight to Equal Weight; Price Target revised from $6 to $8
Waters (WAT): Jefferies upgraded from Hold to Buy; Price Target revised from $355 to $415
Wells Fargo (WFC): Wolfe Research upgraded from Peer Perform to Outperform; Price Target: $65
McDonald’s (MCD): Argus upgraded from Hold to Buy
Cassava Sciences (SAVA): H.C. Wainwright upgraded from Neutral to Buy; Price Target: $116

Downgrades

American Express (AXP): BTIG Research downgraded from Neutral to Sell; Price Target: $230
American Express (AXP): HSBC downgraded from Buy to Hold; Price Target revised from $265 to $270
Anheuser-Busch InBev (BUD): TD Cowen downgraded from Buy to Hold
CME Group (CME): Redburn Atlantic downgraded from Buy to Neutral; Price Target: $244
Frontier Communications Parent (FYBR): TD Cowen downgraded from Buy to Hold
Microsoft (MSFT): Oppenheimer downgraded from Outperform to Perform
OneMain Holdings (OMF): Barclays downgraded from Overweight to Equal Weight; Price Target revised from $52 to $46
Otis Worldwide (OTIS): Wolfe Research downgraded from Outperform to Peer Perform
Qualcomm (QCOM): KeyBanc Capital Markets downgraded from Overweight to Sector Weight
Constellation Brands (STZ): TD Cowen downgraded from Buy to Hold; Price Target revised from $300 to $270
Synaptics (SYNA): KeyBanc Capital Markets downgraded from Overweight to Sector Weight
Trip.com Group (TCOM): HSBC downgraded from Buy to Hold

Coverage Initiated

Abbott Labs (ABT): Oppenheimer rated Outperform; Price Target: $130
Arcellx (ACLX): Redburn Atlantic rated Buy; Price Target: $109
Bicara Therapeutics (BCAX): Multiple firms rated Buy or Overweight
CrowdStrike (CRWD): Exane BNP Paribas rated Neutral; Price Target: $285
Datadog (DDOG): Exane BNP Paribas rated Outperform; Price Target: $150
First National (FXNC): Hovde Group rated Outperform; Price Target: $22
Howmet Aerospace (HWM): Susquehanna rated Positive; Price Target: $120
Palo Alto Networks (PANW): Exane BNP Paribas rated Outperform; Price Target: $410

OCTOBER 7TH:

Upgrades

Ally Financial (ALLY): JP Morgan, Neutral to Overweight, Price Target $46 to $40
Alibaba (BABA): Macquarie, Neutral to Outperform, Price Target $145
Couchbase (BASE): Barclays, Equal Weight to Overweight, Price Target $19
Canadian National Railway (CNI): Wells Fargo, Equal Weight to Overweight, Price Target $125
Coty (COTY): Jefferies, Hold to Buy, Price Target $11 to $12
Campbell Soup (CPB): Bernstein, Market Perform to Outperform, Price Target $55 to $58
Coupang (CPNG): Bernstein, Underperform to Outperform, Price Target $30
Dynatrace (DT): Barclays, Equal Weight to Overweight, Price Target $52 to $64
Elastic (ESTC): Barclays, Equal Weight to Overweight, Price Target $90 to $95
Frontline (FRO): BTIG Research, Neutral to Buy, Price Target $30
Integra (IART): BTIG Research, Sell to Neutral
Netflix (NFLX): Piper Sandler, Neutral to Overweight, Price Target $650 to $800
NXP Semiconductors (NXPI): UBS, Neutral to Buy, Price Target $275 to $285
Pinduoduo (PDD): Macquarie, Neutral to Outperform, Price Target $126 to $224
Tyler Technologies (TYL): Barclays, Equal Weight to Overweight, Price Target $577 to $700
Western Alliance Bancorp (WAL): Deutsche Bank, Hold to Buy, Price Target $83 to $101
Mohawk Industries (MHK): Wells Fargo, Underweight to Equal Weight, Price Target $140 to $160
Gilead Sciences (GILD): Wells Fargo, Equal Weight to Overweight, Price Target $78 to $100
Air Products (APD): Evercore ISI, In-line to Outperform, Price Target $305 to $365
Air Products (APD): Vertical Research, Hold to Buy, Price Target $336
Air Products (APD): Jefferies, Hold to Buy, Price Target $295 to $364
Ubisoft (UBSFY): Bernstein, Underperform to Market Perform

Downgrades

Apple (AAPL): Jefferies, Buy to Hold, Price Target $205 to $212.92
AMN Healthcare (AMN): BofA Securities, Neutral to Underperform, Price Target $65 to $48
Amazon (AMZN): Wells Fargo, Overweight to Equal Weight, Price Target $225 to $183
American Express (AXP): JP Morgan, Overweight to Neutral, Price Target $268 to $286
Brookdale Senior Living (BKD): BofA Securities, Neutral to Underperform, Price Target $7.75 to $6
Celanese (CE): KeyBanc Capital Markets, Overweight to Sector Weight
Ciena (CIEN): JP Morgan, Overweight to Neutral, Price Target $65
Comerica (CMA): BofA Securities, Neutral to Underperform, Price Target $55 to $52
Concentra Group Holdings Parent (CON): BofA Securities, Buy to Neutral, Price Target $30.5 to $24
Charles River (CRL): Evercore ISI, Outperform to In-line, Price Target $225 to $190
Centuri Holdings (CTRI): JP Morgan, Neutral to Underweight, Price Target $19 to $16
Sprinklr (CXM): Barclays, Overweight to Underweight, Price Target $10 to $7
DuPont (DD): Barclays, Equal Weight to Underweight, Price Target $88 to $84
Denali Therapeutics (DNLI): Cantor Fitzgerald, Overweight to Neutral
Evotec SE (EVO): Jefferies, Buy to Hold
Garmin (GRMN): Morgan Stanley, Equal Weight to Underweight, Price Target $155 to $138
Hershey Foods (HSY): Bernstein, Outperform to Market Perform, Price Target $230 to $205
Hershey Foods (HSY): UBS, Buy to Neutral, Price Target $226 to $209
Humana (HUM): Jefferies, Buy to Hold, Price Target $519 to $253
Deckers Outdoor (DECK): Seaport Research Partners, Buy to Neutral
Intapp (INTA): Barclays, Overweight to Equal Weight, Price Target $44
Lamb Weston (LW): JP Morgan, Overweight to Neutral, Price Target $63 to $68
Mobileye Global (MBLY): JP Morgan, Neutral to Underweight, Price Target $16 to $10
Netflix (NFLX): Barclays, Equal Weight to Underweight, Price Target $550
Sherwin-Williams (SHW): KeyBanc Capital Markets, Overweight to Sector Weight
SITE Centers (SITC): KeyBanc Capital Markets, Overweight to Sector Weight
Constellation Brands (STZ): BofA Securities, Buy to Neutral, Price Target $300 to $255
U.S. Physical Therapy (USPH): BofA Securities, Buy to Neutral, Price Target $114 to $90
Lennar (LEN): Wells Fargo, Overweight to Equal Weight, Price Target $205 to $190
KB Home (KBH): Wells Fargo, Equal Weight to Underweight, Price Target $80 to $83
Immunocore (IMCR): Guggenheim, Buy to Neutral
Humana (HUM): TD Cowen, Buy to Hold, Price Target $402 to $261
Halozyme Therapeutics (HALO): Wells Fargo, Overweight to Equal Weight, Price Target $58 to $62
Ametek (AME): TD Cowen, Hold to Sell
Portillo’s (PTLO): Stephens, Overweight to Equal Weight, Price Target $13
Vista Outdoor (VSTO): Monness Crespi & Hardt, Buy to Neutral

Coverage Initiated

Applied Industrial (AIT): BofA Securities, Neutral, Price Target $232
Avery Dennison (AVY): Barclays, Overweight, Price Target $250
Celldex Therapeutics (CLDX): Citigroup, Buy, Price Target $70
Clover Health (CLOV): UBS, Neutral, Price Target $4
Curbline Properties (CURB): KeyBanc Capital Markets, Sector Weight
DiaMedica Therapeutics (DMAC): H.C. Wainwright, Buy, Price Target $7
Fastenal (FAST): BofA Securities, Buy, Price Target $85
Foot Locker (FL): Gordon Haskett, Accumulate, Price Target $27
Grainger (GWW): BofA Securities, Underperform, Price Target $925
Immatics N.V. (IMTX): Piper Sandler, Overweight, Price Target $19
Uranium Royalty (UROY): B. Riley Securities, Buy, Price Target $3.5
MasTec (MTZ): JP Morgan, Overweight, Price Target $153
Oruka Therapeutics (ORKA): H.C. Wainwright, Buy, Price Target $45
Oscar Health (OSCR): UBS, Neutral, Price Target $23
Dave & Buster’s (PLAY): The Benchmark Company, Hold
Primoris Services (PRIM): JP Morgan, Overweight, Price Target $71
Quanta Services (PWR): JP Morgan, Neutral, Price Target $297
Sila Realty Trust (SILA): Truist, Buy, Price Target $29
Solventum Corporation (SOLV): Piper Sandler, Neutral, Price Target $71
Vertiv (VRT): Jefferies, Buy, Price Target $125
Westrock Coffee Company (WEST): Truist, Buy, Price Target $10
Zevra Therapeutics (ZVRA): Guggenheim, Buy, Price Target $20
Serve Robotics (SERV): Seaport Research Partners, Buy, Price Target $12
TrueCar (TRUE): Lake Street, Buy, Price Target $6
South Bow Corporation (SOBO): Wolfe Research, Outperform
American Water Works (AWK): Jefferies, Underperform, Price Target $124
Essential Utilities (WTRG): Jefferies, Buy, Price Target $44
Nintendo (NTDOY): TD Cowen, Buy