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Analyst Upgrades and Downgrades For the Week of November 4th

Analyst upgrades, downgrades, and more

By Justin Nugent · September 23, 2024
Analyst Upgrades and Downgrades For the Week of November 4th

November 6th:

Upgrades:

  • AstraZeneca (AZN) – Deutsche Bank: Sell → Hold
  • Burberry (BURBY) – RBC Capital Markets: Sector Perform → Outperform
  • Celanese (CE) – Deutsche Bank: Hold → Buy, Target: $110 → $135
  • Clorox (CLX) – TD Cowen: Sell → Hold, Target: $170 → $155
  • Enbridge (ENB) – Wells Fargo: Underweight → Equal Weight
  • Yum China (YUMC) – JP Morgan: Neutral → Overweight, Target: $35.5 → $60
  • Beam Therapeutics (BEAM) – Leerink Partners: Market Perform → Outperform, Target: $39 → $27
  • Revolve Group (RVLV) – Barclays: Underweight → Equal Weight, Target: $25 → $17
  • Masimo (MASI) – Raymond James: Mkt Perform → Outperform, Target: $170
  • Snowflake (SNOW) – Monness Crespi & Hardt: Neutral → Buy, Target: $140
  • Humana (HUM) – BofA Securities: Underperform → Neutral, Target: $308 → $247
  • Solaris Energy Infrastructure (SEI) – Pickering Energy Partners: Neutral → Outperform
  • James Hardie (JHX) – JP Morgan: Neutral → Overweight
  • Sixth Street Specialty Lending (TSLX) – Ladenburg Thalmann: Neutral → Buy
  • Editas Medicine (EDIT) – Evercore ISI: In-line → Outperform
  • One Stop Systems (OSS) – Alliance Global Partners: Neutral → Buy, Target: $4.5 → $3.25

Downgrades:

  • Aris Water Solutions (ARIS) – JP Morgan: Overweight → Neutral, Target: $22 → $19
  • Brown-Forman (BF.B) – TD Cowen: Buy → Hold, Target: $48 → $50
  • Cboe Global Markets (CBOE) – Morgan Stanley: Equal-Weight → Underweight, Target: $199
  • Choice Hotels (CHH) – Jefferies: Buy → Hold
  • DigitalBridge (DBRG) – Keefe Bruyette: Outperform → Mkt Perform, Target: $14 → $17.75
  • Grocery Outlet (GO) – TD Cowen: Buy → Hold, Target: $16 → $25
  • MGP Ingredients (MGPI) – TD Cowen: Buy → Hold, Target: $50 → $66
  • Myers Industries (MYE) – KeyBanc Capital Markets: Overweight → Sector Weight
  • Portillo’s (PTLO) – Stifel: Buy → Hold, Target: $13
  • Super Micro Computer (SMCI) – JP Morgan: Neutral → Underweight, Target: $23 → $50
  • Smith & Nephew (SNN) – Berenberg: Buy → Hold
  • Verrica Pharmaceuticals (VRCA) – H.C. Wainwright: Buy → Neutral
  • Ballard Power (BLDP) – HSBC Securities: Buy → Hold
  • Vitesse (VTS) – Alliance Global Partners: Buy → Neutral, Target: $26
  • Ardent Health Partners (ARDT) – BofA Securities: Buy → Neutral, Target: $19 → $22
  • Five Below (FIVE) – BofA Securities: Neutral → Underperform, Target: $75 → $98
  • Oscar Health (OSCR) – BofA Securities: Neutral → Underperform, Target: $13.5 → $21
  • Clarivate (CLVT) – William Blair: Outperform → Mkt Perform
  • Cummins (CMI) – Vertical Research: Buy → Hold, Target: $350
  • Fortis (FTS) – Raymond James: Outperform → Mkt Perform
  • TransAlta (TAC) – Desjardins: Buy → Hold
  • YETI Holdings (YETI) – BofA Securities: Buy → Neutral
  • HUYA (HUYA) – BofA Securities: Buy → Neutral
  • Montrose Environmental Group (MEG) – BofA Securities: Buy → Neutral
  • Volkswagen AG (VWAGY) – RBC Capital Markets: Outperform → Sector Perform
  • Hello Group (MOMO) – BofA Securities: Buy → Underperform

Coverage Initiated:

  • Insulet (PODD) – Bernstein: Outperform, Target: $300
  • Ryman Hospitality (RHP) – Jefferies: Buy, Target: $130
  • Rambus (RMBS) – Wells Fargo: Overweight, Target: $62
  • Tencent Music (TME) – Barclays: Overweight, Target: $16
  • Tandem Diabetes Care (TNDM) – Bernstein: Outperform, Target: $42
  • BitFuFu (FUFU) – H.C. Wainwright: Buy, Target: $7
  • Fresenius Medical (FMS) – Berenberg: Buy, Target: $25.6
  • Vipshop (VIPS) – Barclays: Overweight, Target: $19

Upgrades:

  • Alkermes Plc (ALKS)
    • Brokerage: Stifel
    • Rating: Hold → Buy
    • Price Target: $25 → $36
  • Century Casinos (CNTY)
    • Brokerage: JMP Securities
    • Rating: Mkt Perform → Mkt Outperform
    • Price Target: Not Provided
  • Chevron (CVX)
    • Brokerage: DZ Bank
    • Rating: Hold → Buy
    • Price Target: $170
  • eBay (EBAY)
    • Brokerage: Bernstein
    • Rating: Mkt Perform → Outperform
    • Price Target: $70
  • IdaCorp (IDA)
    • Brokerage: BofA Securities
    • Rating: Neutral → Buy
    • Price Target: $113 → $117
  • MasTec (MTZ)
    • Brokerage: Truist
    • Rating: Hold → Buy
    • Price Target: $133 → $173
  • Disc Medicine (IRON)
    • Brokerage: Morgan Stanley
    • Rating: Equal-Weight → Overweight
    • Price Target: $85
  • MDU Resources (MDU)
    • Brokerage: BofA Securities
    • Rating: Neutral → Buy
    • Price Target: $17
  • argenx (ARGX)
    • Brokerage: Scotiabank
    • Rating: Sector Perform → Sector Outperform
    • Price Target: $715
  • HomeStreet (HMST)
    • Brokerage: Wedbush
    • Rating: Neutral → Outperform
    • Price Target: $12
  • Carvana (CVNA)
    • Brokerage: Morgan Stanley
    • Rating: Underweight → Equal-Weight
    • Price Target: $110 → $260
  • Medifast (MED)
    • Brokerage: DA Davidson
    • Rating: Underperform → Neutral
    • Price Target: $16.5 → $17
  • Brightcove (BCOV)
    • Brokerage: Lake Street
    • Rating: Hold → Buy
    • Price Target: $3.5
  • UPS (UPS)
    • Brokerage: Argus
    • Rating: Hold → Buy
    • Price Target: Not Provided

Downgrades:

  1. Air France-KLM (AFLYY)
    • Brokerage: Morgan Stanley
    • Rating: Equal-Weight → Underweight
  2. Affiliated Managers (AMG)
    • Brokerage: TD Cowen
    • Rating: Buy → Hold
    • Price Target: $226 → $177
  3. BCE Inc (BCE)
    • Brokerage: Edward Jones
    • Rating: Buy → Hold
  4. Dollar Tree (DLTR)
    • Brokerage: Telsey Advisory Group
    • Rating: Outperform → Mkt Perform
    • Price Target: $95 → $75
  5. Marqeta (MQ)
    • Brokerages: Wells Fargo, William Blair, KeyBanc, Deutsche Bank
    • Rating: Overweight → Equal Weight / Buy → Hold
    • Price Target: $7 → $5 / $9 → $4
  6. Neumora Therapeutics (NMRA)
    • Brokerage: JP Morgan
    • Rating: Overweight → Neutral
    • Price Target: $18 → $15
  7. Retail Opportunity Investments (ROIC)
    • Brokerage: KeyBanc Capital Markets
    • Rating: Overweight → Sector Weight
  8. Sana Biotechnology (SANA)
    • Brokerage: JMP Securities
    • Rating: Mkt Outperform → Mkt Perform
  9. Tactile Systems (TCMD)
    • Brokerages: BTIG Research, Oppenheimer
    • Rating: Buy → Neutral / Outperform → Perform
  10. Verrica Pharmaceuticals (VRCA)
    • Brokerage: RBC Capital Mkts
    • Rating: Outperform → Sector Perform
  11. Celanese (CE)
    • Brokerage: Wells Fargo
    • Rating: Overweight → Equal Weight
    • Price Target: $165 → $115
  12. Cognex (CGNX)
    • Brokerage: Truist
    • Rating: Buy → Hold
    • Price Target: $46 → $43
  13. IDEAYA Biosciences (IDYA)
    • Brokerage: Leerink Partners
    • Rating: Outperform → Mkt Perform
    • Price Target: $27 → Not Provided
  14. Hudson Technologies (HDSN)
    • Brokerages: Craig Hallum, ROTH MKM
    • Rating: Buy → Hold
    • Price Target: $7

Coverage Initiated:

  • Alarm.com (ALRM)
    • Brokerage: Jefferies
    • Rating: Buy
    • Price Target: $65
  • CAMP4 Therapeutics (CAMP)
    • Brokerages: JP Morgan, Piper Sandler, William Blair
    • Rating: Overweight
    • Price Target: $18 → $23
  • CeriBell (CBLL)
    • Brokerages: William Blair, TD Cowen, JP Morgan, Canaccord Genuity, BofA Securities
    • Rating: Buy / Outperform
    • Price Target: $30 → $32
  • CMS Energy (CMS)
    • Brokerage: Jefferies
    • Rating: Buy
    • Price Target: $76
  • Eaton (ETN)
    • Brokerage: Bernstein
    • Rating: Outperform
    • Price Target: $382
  • Hubbell (HUBB)
    • Brokerage: Bernstein
    • Rating: Outperform
    • Price Target: $535
  • MSA Safety (MSA)
    • Brokerage: B. Riley Securities
    • Rating: Buy
    • Price Target: $200
  • Protagonist Therapeutics (PTGX)
    • Brokerage: Wedbush
    • Rating: Outperform
    • Price Target: $58
  • Rezolute (RZLT)
    • Brokerage: Wedbush
    • Rating: Outperform
    • Price Target: $12
  • Upstream Bio (UPB)
    • Brokerages: TD Cowen, William Blair, JP Morgan, Piper Sandler
    • Rating: Buy / Overweight / Outperform
    • Price Target: $38 → $75
  • Geron (GERN)
    • Brokerage: H.C. Wainwright
    • Rating: Buy
    • Price Target: $8
  • Sable Offshore Corp. (SOC)
    • Brokerage: Johnson Rice
    • Rating: Buy
    • Price Target: $30
  • Bicara Therapeutics (BCAX)
    • Brokerage: Rodman & Renshaw
    • Rating: Buy
    • Price Target: $48
  • Zenas Biopharma (ZBIO)
    • Brokerage: Rodman & Renshaw
    • Rating: Buy
    • Price Target: $34
  • TuHURA Biosciences (HURA)
    • Brokerage: Maxim Group
    • Rating: Buy
    • Price Target: $15
  • First Solar (FSLR)
    • Brokerage: Seaport Research Partners
    • Rating: Neutral
    • Price Target: Not Provided
  • Celestica (CLS)
    • Brokerage: Barclays
    • Rating: Overweight
    • Price Target: $91
  • Keros Therapeutics (KROS)
    • Brokerage: Jefferies
    • Rating: Buy
    • Price Target: Not Provided

November 4th

Upgrades:

  1. Bank of Nova Scotia (BNS) – TD Securities upgraded from Hold to Buy.
  2. Charter Communications (CHTR) – BofA Securities upgraded from Neutral to Buy, price target raised from $385 to $450.
  3. Entergy (ETR) – Morgan Stanley upgraded from Underweight to Equal-Weight, price target raised from $116 to $150.
  4. Keysight Technologies (KEYS) – Barclays upgraded from Equal Weight to Overweight, price target raised from $158 to $180.
  5. M/I Homes (MHO) – Wedbush upgraded from Neutral to Outperform, price target raised from $155 to $185.
  6. Peloton (PTON) – BofA Securities upgraded from Underperform to Buy, price target raised from $3.75 to $9.
  7. Roblox (RBLX) – Morgan Stanley upgraded from Equal-Weight to Overweight, price target raised from $38 to $65.
  8. USCB Financial Holdings (USCB) – Piper Sandler upgraded from Neutral to Overweight, price target raised from $17 to $20.
  9. Vertex (VERX) – Jefferies upgraded from Hold to Buy, price target raised from $35 to $50.
  10. Watts Water Technologies (WTS) – Northcoast upgraded from Neutral to Buy, no price target provided.
  11. Norwegian Cruise Line (NCLH) – Argus upgraded from Hold to Buy.
  12. AbbVie (ABBV) – Argus upgraded from Hold to Buy.
  13. MDU Resources (MDU) – Siebert Williams Shank upgraded from Hold to Buy, price target raised to $19.
  14. Disc Medicine (IRON) – Raymond James upgraded from Outperform to Strong Buy, price target raised from $66 to $110.
  15. Panasonic (PCRHY) – Macquarie upgraded from Neutral to Outperform.

Downgrades:

  1. Booz Allen Hamilton (BAH) – Jefferies downgraded from Buy to Hold, price target slightly raised from $180 to $190.
  2. Customers Bancorp (CUBI) – Keefe Bruyette downgraded from Outperform to Market Perform, price target lowered from $57 to $52.
  3. Ecolab (ECL) – UBS downgraded from Buy to Neutral, price target unchanged at $276.
  4. ESSA Pharma (EPIX) – Piper Sandler downgraded from Overweight to Neutral, price target lowered from $15 to $2.
  5. ESSA Pharma (EPIX) – Oppenheimer downgraded from Outperform to Perform.
  6. Entergy (ETR) – BofA Securities downgraded from Buy to Neutral, price target lowered from $138 to $154.
  7. Fiverr (FVRR) – BTIG Research downgraded from Buy to Neutral.
  8. Janus International Group (JBI) – Jefferies downgraded from Buy to Hold, price target lowered from $12 to $7.50.
  9. NNN REIT (NNN) – Exane BNP Paribas downgraded from Neutral to Underperform, no price target provided.
  10. STMicroelectronics (STM) – Morgan Stanley downgraded from Equal-Weight to Underweight.
  11. Cactus (WHD) – Barclays downgraded from Overweight to Equal Weight, price target lowered to $61.
  12. Dine Brands (DIN) – CL King downgraded from Buy to Neutral.
  13. Sight Sciences (SGHT) – Lake Street downgraded from Buy to Hold, price target lowered from $10 to $5.
  14. ESSA Pharma (EPIX) – Jefferies downgraded from Buy to Hold.
  15. Option Care Health (OPCH) – Goldman Sachs downgraded from Buy to Neutral, price target lowered to $27.
  16. Sibanye-Stillwater (SBSW) – HSBC Securities downgraded from Buy to Hold.
  17. Editas Medicine (EDIT) – Raymond James downgraded from Outperform to Market Perform.

Coverage Initiated:

  1. Casey’s General (CASY) – Gordon Haskett initiated coverage with a Hold rating, price target $400.
  2. KinderCare Learning Companies (KLC) – Multiple brokerages initiated coverage:
    • JP Morgan: Overweight, price target $31.
    • UBS: Buy, price target $36.
    • Barclays: Overweight, price target $38.
    • Morgan Stanley: Equal-Weight, price target $31.
    • BMO Capital Markets: Outperform, price target $34.
    • Goldman Sachs: Buy, price target $41.
    • Robert W. Baird: Neutral, price target $30.
  3. Kaspi.kz (KSPI) – Citigroup initiated coverage with a Buy rating, price target $140.
  4. Nektar Therapeutics (NKTR) – Piper Sandler initiated coverage with an Overweight rating, price target $7.
  5. Rollins (ROL) – Barclays initiated coverage with an Equal Weight rating, price target $50.
  6. Summit Therapeutics (SMMT) – JMP Securities initiated coverage with a Market Outperform rating, price target $32.
  7. Trip.com Group (TCOM) – Bernstein initiated coverage with an Outperform rating, price target $85.
  8. Instil Bio (TIL) – JMP Securities initiated coverage with a Market Perform rating.
  9. Tencent Music (TME) – Bernstein initiated coverage with an Outperform rating, price target $14.
  10. Zura Bio Limited (ZURA) – Leerink Partners initiated coverage with an Outperform rating, price target $15.
  11. Everus (ECG) – DA Davidson initiated coverage with a Neutral rating, price target $55.
  12. CLECO Corp (CNL) – Scotiabank initiated coverage with a Sector Outperform rating.