This report was sent to Briefing.com subscribers earlier today.

Upgrades:

> Copa Holdings (CPA) upgraded to Buy from Neutral at UBS; tgt raised to $120

> Ferrari (RACE) upgraded to Buy from Hold at HSBC Securities

> Huazhu Group (HTHT) upgraded to Buy from Outperform at Daiwa Securities; tgt lowered to $34

> Medpace (MEDP) upgraded to Neutral from Sell at UBS; tgt raised to $238

> Renasant (RNST) upgraded to Outperform from Mkt Perform at Raymond James; tgt $41

> ServiceNow (NOW) upgraded to Outperform from Market Perform at MoffettNathanson; tgt $549

> Teradyne (TER) upgraded to Buy from Hold at Craig Hallum; tgt $120

> Vertiv (VRT) upgraded to Outperform from Market Perform at Cowen; tgt raised to $20

Downgrades:

> ATI Physical Therapy (ATIP) downgraded to Hold from Buy at Jefferies; tgt lowered to $1.15

> Cano Health (CANO) downgraded to Neutral from Outperform at Credit Suisse; tgt lowered to $5

> Dassault Systemes (DASTY) downgraded to Underweight from Neutral at JP Morgan

> Eagle Bancorp Montana (EBMT) downgraded to Neutral from Buy at Janney

> FormFactor (FORM) downgraded to Hold from Buy at Stifel; tgt $30

> Meta Platforms (META) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $105

> Meta Platforms (META) downgraded to Market Perform from Outperform at Cowen; tgt lowered to $135

> Meta Platforms (META) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets

> Seagate Tech (STX) downgraded to Neutral from Buy at UBS; tgt lowered to $55

> Silicon Labs (SLAB) downgraded to Hold from Buy at Needham

> Taylor Morrison Home (TMHC) downgraded to Neutral from Buy at BTIG Research

> Thermo Fisher (TMO) downgraded to Hold from Buy at The Benchmark Company

> Thor Industries (THO) downgraded to Hold from Buy at The Benchmark Company

> Trinity Capital (TRIN) downgraded to Neutral from Buy at Compass Point; tgt lowered to $12.75

> V.F. Corp (VFC) downgraded to Underweight from Neutral at JP Morgan; tgt $29

Others:

> Arcellx (ACLX) initiated with a Buy at Needham; tgt $31

> IDEAYA Biosciences (IDYA) initiated with a Buy at Citigroup; tgt $26

> JD.com (JD) initiated with a Buy at CMB International; tgt $78.5

> Lithium Americas (LAC) assumed with a Buy at B. Riley Securities; tgt lowered to $41

> Livent (LTHM) assumed with a Neutral at B. Riley Securities; tgt raised to $32

> Mercury (MRCY) initiated with an Outperform at Raymond James; tgt $55

> Mobileye Global (MBLY) initiated with a Hold at Spin-Off Research; tgt $25

> Nouveau Monde Graphite (NMG) assumed with a Buy at B. Riley Securities; tgt lowered to $7

> Piedmont Lithium (PLL) assumed with a Buy at B. Riley Securities; tgt raised to $108

> Roivant Sciences (ROIV) initiated with an Overweight at JP Morgan; tgt $7

> 5E Advanced Materials (FEAM) initiated with a Buy at B. Riley Securities; tgt $20

Research calls posted earlier this morning are available here.

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