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First Look Analysts Research Calls for Thursday, December 15

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Upgrades:

> Ardagh Metal Packaging S.A. (AMBP) upgraded to Buy from Neutral at BofA Securities; tgt raised to $6

> Avery Dennison (AVY) upgraded to Buy from Neutral at BofA Securities; tgt raised to $205

> BioNTech (BNTX) upgraded to Buy from Neutral at BofA Securities; tgt $239

> Copa Holdings (CPA) upgraded to Outperform from Market Perform at Cowen; tgt $98

> DXC Technology (DXC) upgraded to Neutral from Underweight at JP Morgan; tgt raised to $33

> First Republic Bank (FRC) upgraded to Equal Weight from Underweight at Wells Fargo; tgt raised to $125

> Five Below (FIVE) upgraded to Outperform from Neutral at Exane BNP Paribas

> L3Harris (LHX) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $278

> Masimo (MASI) upgraded to Buy from Neutral at BTIG Research; tgt $180

> MSG Entertainment (MSGE) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt $50

> Radian Group (RDN) upgraded to Buy from Neutral at BofA Securities; tgt $24

> Umpqua Holdings (UMPQ) upgraded to Overweight from Equal Weight at Wells Fargo; tgt raised to $22

> Verizon (VZ) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $44

Downgrades:

> Allegiant Travel (ALGT) downgraded to Market Perform from Outperform at Cowen; tgt $80

> Anheuser-Busch InBev (BUD) downgraded to Underperform from Neutral at Credit Suisse

> AT&T (T) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $20

> BankUnited (BKU) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $38

> CI&T Inc (CINT) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $9

> Cognizant Tech (CTSH) downgraded to Underweight from Neutral at JP Morgan; tgt raised to $62

> Enphase Energy (ENPH) downgraded to Neutral from Positive at Susquehanna; tgt raised to $365

> Equinix (EQIX) downgraded to Hold from Buy at TD Securities; tgt $750

> Federal Realty (FRT) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $112

> First American Financial (FAF) downgraded to Mkt Perform from Outperform at Keefe Bruyette; tgt $61

> First Bancorp (FBP) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $14

> First Western (MYFW) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $30

> Genpact (G) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $50

> JetBlue Airways (JBLU) downgraded to Market Perform from Outperform at Cowen; tgt lowered to $9

> Lockheed Martin (LMT) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt raised to $542

> Marriott (MAR) downgraded to Equal Weight from Overweight at Barclays; tgt raised to $170

> Packaging Corp (PKG) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $139

> PacWest Bancorp (PACW) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $26

> Sylvamo (SLVM) downgraded to Neutral from Buy at BofA Securities; tgt raised to $58

Others:

> 8×8 (EGHT) initiated with a Neutral at Wedbush; tgt $7

> AbCellera Biologics (ABCL) initiated with a Buy at Goldman; tgt $30

> Alteryx (AYX) initiated with a Neutral at Wedbush; tgt $50

> Aon (AON) initiated with a Neutral at Citigroup; tgt $339

> Arthur J. Gallagher (AJG) initiated with a Buy and named Top Pick at Citigroup; tgt $225

> BlackRock (BLK) initiated with an Overweight at Wells Fargo; tgt $820

> Brown & Brown (BRO) initiated with a Neutral at Citigroup; tgt $62

> Camden Property (CPT) initiated with a Buy at UBS; tgt $137

> Couchbase (BASE) initiated with a Neutral at Wedbush; tgt $16

> CrowdStrike (CRWD) initiated with an Outperform at Wedbush; tgt $135

> Datadog (DDOG) initiated with an Outperform at Wedbush; tgt $101

> Day One Biopharmaceuticals (DAWN) initiated with a Buy at H.C. Wainwright; tgt $35

> Denbury (DEN) resumed with an Underperform at BofA Securities; tgt $73

> Diversey Holdings (DSEY) initiated with a Market Perform at BMO Capital Markets; tgt $5.80

> Doma (DOMA) initiated with a Neutral at Citigroup; tgt $0.45

> Dynatrace (DT) initiated with a Neutral at Wedbush; tgt $35

> Essex Property (ESS) initiated with a Neutral at UBS; tgt $226

> Estee Lauder (EL) initiated with a Sell at Redburn; tgt $210

> Fate Therapeutics (FATE) initiated with a Sell at Goldman; tgt $10

> Franklin Resources (BEN) initiated with an Underweight at Wells Fargo; tgt $26

> Invesco (IVZ) initiated with an Overweight at Wells Fargo; tgt $22

> Janus Henderson Group (JHG) initiated with an Underweight at Wells Fargo; tgt $24

> Kaiser Alum (KALU) initiated with a Peer Perform at Wolfe Research

> Leonardo DRS (DRS) initiated with an Outperform at Robert W. Baird; tgt $19

> MarineMax (HZO) initiated with a Buy at Stifel; tgt $40

> Marsh McLennan (MMC) initiated with a Neutral at Citigroup; tgt $185

> Mid-America Aptmt (MAA) initiated with a Sell at UBS; tgt $150

> MongoDB (MDB) initiated with an Outperform at Wedbush; tgt $240

> Murphy USA (MUSA) initiated with a Sector Perform at RBC Capital Mkts; tgt $360

> New Relic (NEWR) initiated with a Neutral at Wedbush; tgt $68

> Okta (OKTA) initiated with an Outperform at Wedbush; tgt $86

> Pool (POOL) initiated with an Underperform at BofA Securities; tgt $291

> Sunnova Energy (NOVA) initiated with a Buy at Citigroup; tgt $26

> T. Rowe Price (TROW) initiated with an Equal Weight at Wells Fargo; tgt $125

> Vaxcyte (PCVX) initiated with a Buy at Guggenheim; tgt $66

> Warby Parker (WRBY) initiated with an Outperform at Wolfe Research; tgt $20

> Wayfair (W) initiated with a Peer Perform at Wolfe Research

> Zoom Video (ZM) initiated with a Neutral at Wedbush; tgt $80

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