This report was sent to Briefing.com subscribers earlier today.
Research calls posted earlier this morning are available here.
Upgrades:
> Reinsurance Group of America (RGA) upgraded to Outperform from Sector Perform at RBC Capital Mkts; tgt raised to $170
> United Airlines (UAL) upgraded to Buy from Hold at Argus; tgt $52
Downgrades:
> Anavex (AVXL) downgraded to Neutral from Overweight at Cantor Fitzgerald; tgt lowered to $11
> Ashmore Group (AJMPF) downgraded to Sell from Neutral at Citigroup
> BrightSpire Capital (BRSP) downgraded to Neutral from Buy at BTIG Research
> Close Brothers (CBGPY) downgraded to Underweight from Neutral at JP Morgan
> Eaton (ETN) downgraded to Perform from Outperform at Oppenheimer
> First Solar (FSLR) downgraded to Sell from Buy at GLJ Research; tgt lowered to $46.80
> Mesoblast (MESO) downgraded to Hold from Buy at Jefferies
> Molson Coors Brewing (TAP) downgraded to Sell from Hold at Deutsche Bank; tgt $50
> SL Green Realty (SLG) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $41
> SL Green Realty (SLG) downgraded to Sector Underperform from Sector Perform at Scotiabank; tgt lowered to $34
> Snap-On (SNA) downgraded to Perform from Outperform at Oppenheimer
> Societe Generale (SCGLY) downgraded to Neutral from Overweight at JP Morgan
> Softbank (SFTBY) downgraded to Neutral from Overweight at JP Morgan
> Spectrum Brands (SPB) downgraded to Hold from Buy at Deutsche Bank; tgt $70
> State Street (STT) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $86
> Steel Dynamics (STLD) downgraded to Neutral from Buy at UBS
> TE Connectivity (TEL) downgraded to Perform from Outperform at Oppenheimer
Others:
> ADC Therapeutics (ADCT) initiated with an Overweight at CapitalOne; tgt $12
> Array Tech (ARRY) initiated with an Overweight at Wells Fargo; tgt $28
> Avis Budget (CAR) initiated with a Neutral at Susquehanna; tgt $225
> Cellnex Telecom SA (CLNXF) resumed with an Equal-Weight at Morgan Stanley
> HealthEquity (HQY) named Bullish Fresh Pick at Robert W. Baird; tgt raised to $75
> Hertz Global (HTZ) initiated with a Neutral at Susquehanna; tgt $18
> Hikma (HKMPF) initiated with an Outperform at RBC Capital Mkts
> Ipsen S.A. (IPSEY) resumed with an Equal Weight at Barclays
> Meituan Dianping (MPNGF) initiated with an Overweight at Atlantic Equities
> Modine Manufacturing (MOD) initiated with a Market Outperform at CJS Securities; tgt $25
> NMI Hldgs (NMIH) downgraded to Neutral from Buy at BTIG Research; tgt $24
> RXO, Inc. (RXO) initiated with a Buy at Jefferies; tgt $25
> Veeva Systems (VEEV) initiated with a Market Perform at Cowen; tgt $184
> Xencor (XNCR) initiated with an Outperform at Cowen
> Yamaha Motor (YAMHF) initiated with an Overweight at Morgan Stanley
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