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Analyst Upgrades and Downgrades For the Week of September 3rd

Analyst upgrades, downgrades, and more

By Justin Nugent · September 3, 2024
Analyst Upgrades and Downgrades For the Week of September 3rd

September 5th Upgrades and Downgrades

Upgrades:

  • Ascendis Pharma (ASND): Oppenheimer upgraded from Perform to Outperform with a price target of $180.
  • Beazer Homes (BZH): Wedbush upgraded from Neutral to Outperform and raised the price target from $41 to $45.
  • EastGroup (EGP): Mizuho upgraded from Neutral to Outperform with a price target increase from $175 to $200.
  • Nordstrom (JWN): Barclays upgraded from Underweight to Equal Weight with a new price target of $23, up from $18.
  • KKR Real Estate Finance Trust (KREF): Keefe Bruyette upgraded from Market Perform to Outperform with a price target increase from $11.5 to $13.
  • Newmark Group (NMRK): Keefe Bruyette upgraded from Market Perform to Outperform with a price target increase from $13.5 to $16.5.
  • Planet Fitness (PLNT): Exane BNP Paribas upgraded from Neutral to Outperform with a price target of $97.
  • Roku (ROKU): Wells Fargo upgraded from Underweight to Equal Weight with a new price target of $72, up from $50.
  • Starwood Property Trust (STWD): Keefe Bruyette upgraded from Market Perform to Outperform with a price target increase from $20.5 to $22.5.
  • TE Connectivity (TEL): Wolfe Research upgraded from Peer Perform to Outperform.
  • XPeng (XPEV): JP Morgan upgraded from Neutral to Overweight with a price target increase from $8 to $11.5.
  • Comerica (CMA): Keefe Bruyette upgraded from Market Perform to Outperform.
  • Yext (YEXT): Needham upgraded from Hold to Buy with a price target of $8.
  • QuidelOrtho (QDEL): Craig Hallum upgraded from Hold to Buy with a price target increase from $40 to $57.
  • Bel Fuse (BELFB): Northland Capital upgraded from Market Perform to Outperform with a price target of $80.
  • Fortive (FTV): Raymond James upgraded from Market Perform to Outperform.
  • ATI Inc. (ATI): Susquehanna initiated with a Positive rating and a price target of $75.
  • aTyr Pharma (ATYR): Jefferies initiated coverage with a Buy rating and a price target of $9.
  • Instacart (CART): Cantor Fitzgerald initiated with an Overweight rating and a price target of $45.
  • DoorDash (DASH): Cantor Fitzgerald initiated with an Overweight rating and a price target of $160.
  • Itron (ITRI): Exane BNP Paribas initiated with an Outperform rating and a price target of $133.

Downgrades:

  • Azul S.A. (AZUL): HSBC Securities downgraded from Buy to Hold.
  • Celanese (CE): Piper Sandler downgraded from Overweight to Neutral with a new price target of $150, down from $180.
  • Dollar Tree (DLTR): BMO Capital Markets downgraded from Outperform to Market Perform with a new price target of $68, down from $130. Loop Capital also downgraded from Buy to Hold with a price target of $65.
  • EVERTEC (EVTC): Susquehanna downgraded from Neutral to Negative with a price target decrease from $38 to $28.
  • Goodyear Tire (GT): Wolfe Research downgraded from Outperform to Peer Perform.
  • KB Home (KBH): RBC Capital Markets downgraded from Sector Perform to Underperform with a price target of $70.
  • Mobileye Global (MBLY): Wolfe Research downgraded from Outperform to Peer Perform.
  • Magna (MGA): Wolfe Research downgraded from Peer Perform to Underperform.
  • Novartis AG (NVS): Goldman downgraded from Buy to Neutral.
  • Grupo Aeroportuario del Pacifico (PAC): JP Morgan downgraded from Neutral to Underweight.
  • PagSeguro Digital (PAGS): Morgan Stanley downgraded from Equal-Weight to Underweight with a price target decrease from $14 to $6.5.
  • StoneCo (STNE): Morgan Stanley downgraded from Equal-Weight to Underweight with a price target decrease from $16.5 to $7.
  • Terreno Realty (TRNO): Mizuho downgraded from Neutral to Underperform with a price target of $62.
  • ChargePoint (CHPT): TD Cowen downgraded from Buy to Hold with a price target decrease to $2.
  • Ciena (CIEN): BofA Securities downgraded from Buy to Neutral.

Coverage Initiated:

  • Airbnb (ABNB): Cantor Fitzgerald initiated with an Underweight rating and a price target of $94.
  • Amazon (AMZN): Cantor Fitzgerald initiated with an Overweight rating and a price target of $230.
  • Algonquin Power & Utilities (AQN): Janney initiated with a Neutral rating.
  • Booking Holdings (BKNG): Cantor Fitzgerald initiated with a Neutral rating and a price target of $3590.
  • eBay (EBAY): Cantor Fitzgerald initiated with a Neutral rating and a price target of $62.
  • Etsy (ETSY): Cantor Fitzgerald initiated with a Neutral rating and a price target of $50.
  • Expedia Group (EXPE): Cantor Fitzgerald initiated with a Neutral rating and a price target of $130.
  • GoDaddy (GDDY): Cantor Fitzgerald initiated with a Neutral rating and a price target of $170.
  • Alphabet A (GOOGL): Cantor Fitzgerald initiated with a Neutral rating and a price target of $190.
  • Kodiak Sciences (KOD): H.C. Wainwright initiated with a Neutral rating and a price target of $3.
  • Arch Capital (ACGL): Barclays initiated with an Equal Weight rating and a price target of $120.
  • Aflac (AFL): Barclays initiated with an Underweight rating and a price target of $96.
  • American Intl (AIG): Barclays initiated with an Overweight rating and a price target of $90.
  • Arthur J. Gallagher (AJG): Barclays initiated with an Equal Weight rating and a price target of $300.
  • Allstate (ALL): Barclays initiated with an Underweight rating and a price target of $175.
  • Aon (AON): Barclays initiated with an Overweight rating and a price target of $394.
  • Brighthouse Financial (BHF): Barclays initiated with an Equal Weight rating and a price target of $48.
  • Brown & Brown (BRO): Barclays initiated with an Equal Weight rating and a price target of $108.
  • Chubb (CB): Barclays initiated with an Overweight rating and a price target of $349.
  • Capital Clean Energy Carriers Corp. (CCEC): Evercore ISI initiated with an Outperform rating and a price target of $22.
  • Corebridge Financial (CRBG): Barclays initiated with an Equal Weight rating and a price target of $33.
  • Everest Group (EG): Barclays initiated with an Overweight rating and a price target of $527.
  • Equitable Holdings (EQH): Barclays initiated with an Overweight rating and a price target of $59.
  • F&G Annuities & Life (FG): Barclays initiated with an Equal Weight rating and a price target of $45.
  • Fidelis Insurance Holdings Limited (FIHL): Barclays initiated with an Equal Weight rating and a price target of $21.
  • Hamilton Insurance Group, Ltd. (HG): Barclays initiated with an Overweight rating and a price target of $26.
  • Hartford Financial (HIG): Barclays initiated with an Equal Weight rating and a price target of $130.
  • Jackson Financial (JXN): Barclays initiated with an Overweight rating and a price target of $109.
  • Lincoln National (LNC): Barclays initiated with an Equal Weight rating and a price target of $35.
  • Lyft (LYFT): Cantor Fitzgerald initiated with a Neutral rating and a price target of $13.
  • MercadoLibre (MELI): Cantor Fitzgerald initiated with an Overweight rating and a price target of $2530.
  • MetLife (MET): Barclays initiated with an Overweight rating and a price target of $91.
  • Meta Platforms (META): Cantor Fitzgerald initiated with an Overweight rating and a price target of $660.
  • Marsh McLennan (MMC): Barclays initiated with an Equal Weight rating and a price target of $236.
  • On (ONON): HSBC Securities initiated with a Hold rating and a price target of $52.
  • Principal Financial (PFG): Barclays initiated with an Underweight rating and a price target of $74.
  • Progressive (PGR): Barclays initiated with an Equal Weight rating and a price target of $367.
  • Pinterest (PINS): Cantor Fitzgerald initiated with an Overweight rating and a price target of $41.
  • Prudential (PRU): Barclays initiated with an Equal Weight rating

September 4th Upgrades and Downgrades

Upgrades:

  1. Alcoa (AA): Wolfe Research upgraded from Peer Perform to Outperform; Price Target: $36.
  2. Astera Labs (ALAB): Morgan Stanley upgraded from Equal-Weight to Overweight; Price Target: $55.
  3. Ball Corp (BALL): Morgan Stanley upgraded from Equal-Weight to Overweight; Price Target increased from $69 to $78.
  4. Boyd Gaming (BYD): Morgan Stanley upgraded from Equal-Weight to Overweight; Price Target increased from $66 to $74.
  5. Coupang (CPNG): CLSA upgraded from Hold to Outperform; Price Target increased from $18 to $31.
  6. Embraer SA (ERJ): TD Cowen upgraded from Hold to Buy; Price Target increased from $26 to $41.
  7. Freeport-McMoRan (FCX): UBS upgraded from Neutral to Buy; Price Target increased from $54 to $55.
  8. NASDAQ (NDAQ): BofA Securities upgraded from Underperform to Buy; Price Target increased from $53 to $90.
  9. nVent Electric (NVT): KeyBanc Capital Markets upgraded from Sector Weight to Overweight; Price Target: $80.
  10. Sweetgreen (SG): TD Cowen upgraded from Hold to Buy; Price Target increased from $31 to $43.
  11. Sportradar Group AG (SRAD): JMP Securities upgraded from Market Perform to Market Outperform; Price Target: $16.
  12. Teck Resources (TECK): UBS upgraded from Neutral to Buy.

Downgrades:

  1. Amphenol (APH): BofA Securities downgraded from Buy to Neutral; Price Target decreased from $80 to $71.
  2. ArcBest (ARCB): Wells Fargo downgraded from Overweight to Equal Weight; Price Target decreased from $122 to $112.
  3. ASML (ASML): UBS downgraded from Buy to Neutral.
  4. Athira Pharma (ATHA):
    • JMP Securities downgraded from Market Outperform to Market Perform.
    • BTIG Research downgraded from Buy to Neutral.
    • Rodman & Renshaw downgraded from Buy to Neutral.
  5. Booking Holdings (BKNG): Jefferies downgraded from Buy to Hold; Price Target decreased from $4350 to $4200.
  6. ResMed (RMD): Needham downgraded from Buy to Hold.
  7. Newtek (NEWT): B. Riley Securities downgraded from Buy to Neutral; Price Target decreased from $16 to $13.
  8. Liberty LiLAC (LILAK): Goldman downgraded from Buy to Neutral; Price Target: $10.5.
  9. Mitek Systems (MITK): Jefferies downgraded from Buy to Hold; Price Target decreased from $17 to $9.5.
  10. Super Micro Computer (SMCI): Barclays downgraded from Overweight to Equal Weight; Price Target decreased from $693 to $438.
  11. Tempur Sealy International (TPX): Wedbush downgraded from Outperform to Neutral; Price Target: $52.
  12. Airbnb (ABNB): Argus downgraded from Buy to Hold.
  13. Purple Innovation (PRPL): Wedbush downgraded from Outperform to Neutral; Price Target decreased from $1.75 to $1.1.
  14. Li Auto (LI): Citigroup downgraded from Buy to Neutral.
  15. Zscaler (ZS): BofA Securities downgraded from Buy to Neutral; Price Target: $195.
  16. Woodside Energy Group (WDS): Citigroup downgraded from Neutral to Sell.
  17. Dollar Tree (DLTR): JP Morgan downgraded from Overweight to Neutral; Price Target decreased from $111 to $70.

New Coverage:

  1. Applied Industrial (AIT): Raymond James initiated with Outperform; Price Target: $225.
  2. American Homes 4 Rent (AMH): Goldman initiated with Buy; Price Target: $48.
  3. Ameresco (AMRC): Jefferies initiated with Hold; Price Target: $33.
  4. Adlai Nortye Ltd. (ANL): H.C. Wainwright initiated with Buy; Price Target: $9.
  5. AvidXchange (AVDX): Compass Point initiated with Neutral; Price Target: $8.
  6. BridgeBio Pharma (BBIO): Piper Sandler initiated with Overweight; Price Target: $46.
  7. Berry Global (BERY): Morgan Stanley initiated with Equal-Weight; Price Target: $76.
  8. Biohaven (BHVN): Bernstein initiated with Outperform; Price Target: $55.
  9. Confluent (CFLT): Robert W. Baird initiated with Neutral; Price Target: $23.
  10. CI&T Inc (CINT): Goldman initiated with Neutral; Price Target: $7.3.
  11. Core Scientific (CORZ): Needham initiated with Buy; Price Target: $16.
  12. Camden Property (CPT): Goldman initiated with Neutral; Price Target: $139.
  13. Equity Residential (EQR): Goldman initiated with Neutral; Price Target: $81.
  14. Essex Property (ESS): Goldman initiated with Neutral; Price Target: $318.
  15. Fluence (FLNC): Jefferies initiated with Buy; Price Target: $26.
  16. GE Vernova (GEV): Jefferies initiated with Buy; Price Target: $261.
  17. Gentex (GNTX): UBS initiated with Neutral; Price Target: $34.
  18. Hannon Armstrong Sustainable Infrastructure (HASI): Jefferies initiated with Buy; Price Target: $39.
  19. Iris Energy (IREN): Needham initiated with Hold.
  20. TeraWulf (WULF): Needham initiated with Buy; Price Target: $6.
  21. Invitation Homes (INVH): Goldman initiated with Buy; Price Target: $46.
  22. IQVIA (IQV): RBC Capital Markets initiated with Outperform; Price Target: $275.
  23. Jack Henry (JKHY): Compass Point initiated with Neutral; Price Target: $186.
  24. Larimar Therapeutics (LRMR): Robert W. Baird initiated with Outperform; Price Target: $16.
  25. Live Nation (LYV): BofA Securities initiated with Buy; Price Target: $125.
  26. Mastercard (MA): Compass Point initiated with Neutral; Price Target: $525.
  27. Mid-America Apartment Communities (MAA): Goldman initiated with Buy; Price Target: $187.
  28. Nextracker (NXT): Jefferies initiated with Hold; Price Target: $46.
  29. PHINIA (PHIN): UBS initiated with Buy; Price Target: $55.
  30. PTC Therapeutics (PTCT): Robert W. Baird initiated with Outperform; Price Target: $44.
  31. Quanta Services (PWR): Jefferies initiated with Hold; Price Target: $256.
  32. Q2 Holdings (QTWO): Compass Point initiated with Buy; Price Target: $91.
  33. SolarEdge Technologies (SEDG): Jefferies initiated with Hold; Price Target: $27.
  34. Sealed Air (SEE): Morgan Stanley initiated with Equal-Weight; Price Target: $39.
  35. Shoals Technologies (SHLS): Jefferies initiated with Hold; Price Target: $5.
  36. Sitio Royalties Corp. (STR): Stephens initiated with Overweight; Price Target: $32.
  37. Spyre Therapeutics (SYRE): Wedbush initiated with Outperform; Price Target: $45.
  38. The Trade Desk (TTD): BofA Securities initiated with Buy; Price Target: $135.
  39. UDR (UDR): Goldman initiated with Sell; Price Target: $42.
  40. Visa (V): Compass Point initiated with Buy; Price Target: $319.
  41. WEBTOON Entertainment (WBTN): HSBC Securities initiated with Buy; Price Target: $23.
  42. Shift4 Payments (FOUR): William Blair initiated with Outperform.
  43. Talen Energy (TLN): Guggenheim initiated with Buy; Price Target: $169.

Upgrades – Tuesday, September 03, 2024

  • Applied Optoelectronics (AAOI)
    • Brokerage Firm: Raymond James
    • Ratings Change: Mkt Perform >> Outperform
    • Price Target: $17
  • Autodesk (ADSK)
    • Brokerage Firm: HSBC Securities
    • Ratings Change: Hold >> Buy
    • Price Target: $242 >> $299
  • Autodesk (ADSK)
    • Brokerage Firm: Goldman
    • Ratings Change: Sell >> Neutral
    • Price Target: $225 >> $295
  • Bank of America (BAC)
    • Brokerage Firm: Deutsche Bank
    • Ratings Change: Hold >> Buy
    • Price Target: $45
  • Corpay (CPAY)
    • Brokerage Firm: Wolfe Research
    • Ratings Change: Underperform >> Peer Perform
  • Deutsche Bank (DB)
    • Brokerage Firm: Barclays
    • Ratings Change: Equal Weight >> Overweight
  • Ero Copper (ERO)
    • Brokerage Firm: Raymond James
    • Ratings Change: Mkt Perform >> Outperform
  • Forge Global Holdings (FRGE)
    • Brokerage Firm: UBS
    • Ratings Change: Neutral >> Buy
    • Price Target: $3
  • Intl Flavors (IFF)
    • Brokerage Firm: Mizuho
    • Ratings Change: Neutral >> Outperform
    • Price Target: $109 >> $120
  • Redfin (RDFN)
    • Brokerage Firm: B. Riley Securities
    • Ratings Change: Neutral >> Buy
    • Price Target: $7.5 >> $13
  • Coca-Cola FEMSA (KOF)
    • Brokerage Firm: Goldman
    • Ratings Change: Neutral >> Buy
  • Lockheed Martin (LMT)
    • Brokerage Firm: Melius
    • Ratings Change: Hold >> Buy
    • Price Target: $704
  • Southwest Air (LUV)
    • Brokerage Firm: Evercore ISI
    • Ratings Change: In-line >> Outperform
    • Price Target: $30 >> $35
  • M&T Bank (MTB)
    • Brokerage Firm: JP Morgan
    • Ratings Change: Neutral >> Overweight
    • Price Target: $183 >> $215
  • nCino (NCNO)
    • Brokerage Firm: Raymond James
    • Ratings Change: Mkt Perform >> Outperform
    • Price Target: $38
  • NetApp (NTAP)
    • Brokerage Firm: Loop Capital
    • Ratings Change: Hold >> Buy
    • Price Target: $121 >> $150
  • Unity Software (U)
    • Brokerage Firm: Morgan Stanley
    • Ratings Change: Equal-Weight >> Overweight
    • Price Target: $22
  • Visa (V)
    • Brokerage Firm: Exane BNP Paribas
    • Ratings Change: Neutral >> Outperform
    • Price Target: $325
  • Wells Fargo (WFC)
    • Brokerage Firm: Deutsche Bank
    • Ratings Change: Hold >> Buy
    • Price Target: $65
  • Transocean (RIG)
    • Brokerage Firm: DNB Markets
    • Ratings Change: Hold >> Buy
  • Steel Dynamics (STLD)
    • Brokerage Firm: UBS
    • Ratings Change: Neutral >> Buy
    • Price Target: $129 >> $145

Downgrades – Tuesday, September 03, 2024

  • Caleres (CAL)
    • Brokerage Firm: Loop Capital
    • Ratings Change: Buy >> Hold
    • Price Target: $45
  • CME Group (CME)
    • Brokerage Firm: BofA Securities
    • Ratings Change: Neutral >> Underperform
    • Price Target: $212 >> $177
  • JPMorgan Chase (JPM)
    • Brokerage Firm: Deutsche Bank
    • Ratings Change: Buy >> Hold
    • Price Target: $235
  • Mastercard (MA)
    • Brokerage Firm: Exane BNP Paribas
    • Ratings Change: Outperform >> Neutral
    • Price Target: $470
  • Novartis AG (NVS)
    • Brokerage Firm: Jefferies
    • Ratings Change: Buy >> Hold
  • OPAL Fuels (OPAL)
    • Brokerage Firm: Scotiabank
    • Ratings Change: Sector Outperform >> Sector Perform
    • Price Target: $8 >> $5
  • Simon Properties (SPG)
    • Brokerage Firm: Piper Sandler
    • Ratings Change: Overweight >> Neutral
    • Price Target: $190 >> $175
  • Sphere Entertainment Co. (SPHR)
    • Brokerage Firm: The Benchmark Company
    • Ratings Change: Hold >> Sell
    • Price Target: $40
  • Xylem (XYL)
    • Brokerage Firm: TD Cowen
    • Ratings Change: Buy >> Hold
    • Price Target: $138
  • Boeing (BA)
    • Brokerage Firm: Wells Fargo
    • Ratings Change: Equal Weight >> Underweight
    • Price Target: $185 >> $119
  • Montauk Renewables (MNTK)
    • Brokerage Firm: Scotiabank
    • Ratings Change: Sector Outperform >> Sector Perform
    • Price Target: $8 >> $6
  • EnLink Midstream (ENLC)
    • Brokerage Firm: CapitalOne
    • Ratings Change: Overweight >> Equal Weight
    • Price Target: $16

Coverage Initiated – Tuesday, September 03, 2024

  • Archer Aviation (ACHR)
    • Brokerage Firm: H.C. Wainwright
    • Ratings Change: Buy
    • Price Target: $12.5
  • Arcellx (ACLX)
    • Brokerage Firm: Cantor Fitzgerald
    • Ratings Change: Overweight
  • Allegro Microsystems (ALGM)
    • Brokerage Firm: UBS
    • Ratings Change: Buy
    • Price Target: $33
  • Arcadium Lithium (ALTM)
    • Brokerage Firm: UBS
    • Ratings Change: Neutral
    • Price Target: $3
  • Alto Neuroscience (ANRO)
    • Brokerage Firm: Wedbush
    • Ratings Change: Outperform
    • Price Target: $29
  • Axsome Therapeutics (AXSM)
    • Brokerage Firm: Wells Fargo
    • Ratings Change: Overweight
    • Price Target: $140
  • Commercial Metals (CMC)
    • Brokerage Firm: Jefferies
    • Ratings Change: Buy
    • Price Target: $65
  • Eagle Point Income Company (EIC)
    • Brokerage Firm: B. Riley Securities
    • Ratings Change: Buy
    • Price Target: $17.5
  • Ero Copper (ERO)
    • Brokerage Firm: BofA Securities
    • Ratings Change: Buy
    • Price Target: $28
  • Eve Holding (EVEX)
    • Brokerage Firm: H.C. Wainwright
    • Ratings Change: Buy
    • Price Target: $6
  • Foghorn Therapeutics (FHTX)
    • Brokerage Firm: Jefferies
    • Ratings Change: Buy
    • Price Target: $18
  • Fair Isaac (FICO)
    • Brokerage Firm: Oppenheimer
    • Ratings Change: Outperform
    • Price Target: $1967
  • FitLife Brands (FTLF)
    • Brokerage Firm: ROTH MKM
    • Ratings Change: Buy
    • Price Target: $40
  • Hannon Armstrong Sust. Infr. (HASI)
    • Brokerage Firm: RBC Capital Mkts
    • Ratings Change: Outperform
    • Price Target: $41
  • HCA (HCA)
    • Brokerage Firm: Morgan Stanley
    • Ratings Change: Equal-Weight
    • Price Target: $427
  • Jamf Holding (JAMF)
    • Brokerage Firm: Goldman
    • Ratings Change: Neutral
    • Price Target: $21
  • Joby Aviation (JOBY)
    • Brokerage Firm: H.C. Wainwright
    • Ratings Change: Buy
    • Price Target: $9
  • Soleno Therapeutics (SLNO)
    • Brokerage Firm: H.C. Wainwright
    • Ratings Change: Buy
    • Price Target: $70
  • Lantheus Holdings (LNTH)
    • Brokerage Firm: Redburn Atlantic
    • Ratings Change: Buy
    • Price Target: $175
  • MKS Instruments (MKSI)
    • Brokerage Firm: Goldman
    • Ratings Change: Neutral
    • Price Target: $129
  • Inari (NARI)
    • Brokerage Firm: Leerink Partners
    • Ratings Change: Market Perform
    • Price Target: $47
  • Olin (OLN)
    • Brokerage Firm: BMO Capital Markets
    • Ratings Change: Market Perform
    • Price Target: $50
  • Passage BIO (PASG)
    • Brokerage Firm: Rodman & Renshaw
    • Ratings Change: Buy
    • Price Target: $7