This report was sent to Briefing.com subscribers earlier today.
Research calls posted earlier this morning are available here.
Upgrades:
> Power & Utilities (AQN) upgraded to Overweight from Equal Weight at Wells Fargo
> Atlassian (TEAM) upgraded to Buy from Hold at Jefferies; tgt $150
> Bread Financial (BFH) upgraded to Overweight from Equal-Weight at Stephens; tgt $64
> Cboe Global Markets (CBOE) upgraded to Outperform from Neutral at Credit Suisse; tgt lowered to $144
> Charter Comm (CHTR) upgraded to Buy from Hold at Truist; tgt raised to $550
> Check Point Software (CHKP) upgraded to Buy from Hold at Jefferies; tgt raised to $150
> CME Group (CME) upgraded to Outperform from Neutral at Credit Suisse; tgt $191
> Comcast (CMCSA) upgraded to Buy from Hold at Truist; tgt $50
> Delta Air Lines (DAL) upgraded to Buy from Hold at Argus; tgt $39
> DocuSign (DOCU) upgraded to Buy from Hold at Jefferies; tgt raised to $70
> First Republic Bank (FRC) upgraded to Buy from Neutral at Goldman; tgt $142
> FirstCash (FCFS) upgraded to Overweight from Equal-Weight at Stephens
> HSBC Holdings (HSBC) upgraded to Buy from Hold at Jefferies
> Oracle (ORCL) upgraded to Buy from Hold at Jefferies; tgt raised to $105
> Silgan Holdings (SLGN) upgraded to Buy from Hold at Truist; tgt $64
> US Foods (USFD) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $43
> Zimmer Biomet (ZBH) upgraded to Outperform from Mkt Perform at Raymond James; tgt $144
Downgrades:
> Allbirds (BIRD) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $4
> Ally Financial (ALLY) downgraded to Underperform from Buy at BofA Securities; tgt lowered to $26
> American Express (AXP) downgraded to Underweight from Equal-Weight at Stephens; tgt $134
> American States Water (AWR) downgraded to Neutral from Buy at Seaport Research Partners
> Armstrong World Industries (AWI) downgraded to Hold from Buy at Loop Capital; tgt $75
> AZEK (AZEK) downgraded to Neutral from Buy at UBS; tgt $24
> Baxter (BAX) downgraded to Mkt Perform from Outperform at Raymond James
> Berry Global (BERY) downgraded to Hold from Buy at Truist; tgt $70
> Business First Bancshares (BFST) downgraded to Mkt Perform from Outperform at Raymond James
> C.H. Robinson (CHRW) downgraded to Market Perform from Outperform at Cowen; tgt lowered to $91
> Cano Health (CANO) downgraded to Peer Perform from Outperform at Wolfe Research
> Capital One (COF) downgraded to Underweight from Equal-Weight at Stephens; tgt $79
> CarMax (KMX) downgraded to Hold from Buy at Argus
> Cognizant Tech (CTSH) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $49
> Coinbase Global (COIN) downgraded to Market Perform from Outperform at Cowen; tgt $36
> CrossFirst Bankshares (CFB) downgraded to Mkt Perform from Outperform at Raymond James
> CrowdStrike (CRWD) downgraded to Hold from Buy at Jefferies; tgt lowered to $120
> Danaher (DHR) downgraded to Neutral from Outperform at Credit Suisse; tgt lowered to $300
> Delek US Holdings (DK) downgraded to Underweight from Overweight at Wells Fargo; tgt lowered to $24
> Dorian LPG (LPG) downgraded to Neutral from Buy at UBS; tgt $19
> Dropbox (DBX) downgraded to Hold from Buy at Jefferies; tgt $25
> EPAM Systems (EPAM) downgraded to Peer Perform from Outperform at Wolfe Research
> Essent Group (ESNT) downgraded to Neutral from Buy at Goldman; tgt $44
> Euronet (EEFT) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $98
> Five9 (FIVN) downgraded to Hold from Buy at Jefferies; tgt $65
> Gap (GPS) downgraded to Sell from Neutral at UBS; tgt $7
> IAA (IAA) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $44
> Maravai Life Sciences (MRVI) downgraded to Neutral from Buy at UBS; tgt lowered to $16
> Nomad Foods (NOMD) downgraded to Neutral from Outperform at Credit Suisse; tgt lowered to $20
> Nordstrom (JWN) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $20
> Palantir Technologies (PLTR) downgraded to Hold from Buy at Jefferies; tgt lowered to $7.50
> Progyny (PGNY) downgraded to Mkt Perform from Outperform at SVB Leerink; tgt $34
> Revolve Group (RVLV) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $28
> Sealed Air (SEE) downgraded to Hold from Buy at Truist; tgt $59
> Shopify (SHOP) downgraded to Hold from Buy at Jefferies
> SJW (SJW) downgraded to Neutral from Buy at Seaport Research Partners
> Tapestry (TPR) downgraded to Mkt Perform from Outperform at Bernstein
> Varonis Systems (VRNS) downgraded to Hold from Buy at Jefferies; tgt $26
> Verint Systems (VRNT) downgraded to Hold from Buy at Jefferies; tgt lowered to $40
> Veritex Holdings (VBTX) downgraded to Mkt Perform from Outperform at Raymond James
> Vertex (VERX) downgraded to Hold from Buy at Jefferies; tgt $15
> Victoria’s Secret (VSCO) downgraded to Sell from Neutral at UBS
> Wendy’s (WEN) downgraded to Perform from Outperform at Oppenheimer
> Wolverine (WWW) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $13
> Y-mAbs Therapeutics (YMAB) downgraded to Market Perform from Outperform at Cowen
> Zurich Insurance Group (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas
Others:
> AppLovin (APP) initiated with a Sell at The Benchmark Company; tgt $7
> AstraZeneca (AZN) initiated with an Outperform at BMO Capital Markets; tgt $82
> Axsome Therapeutics (AXSM) initiated with a Neutral at Piper Sandler; tgt $75
> Bridge Investment Group (BRDG) initiated with an Overweight at Piper Sandler
> Castle Biosciences (CSTL) initiated with a Sector Outperform at Scotiabank; tgt $54
> Etsy (ETSY) initiated with a Peer Perform at Wolfe Research
> Foghorn Therapeutics (FHTX) initiated with an Outperform at BMO Capital Markets; tgt $20
> Forge Global Holdings (FRGE) initiated with a Neutral at JP Morgan
> Genenta S.p.A. (GNTA) initiated with a Buy at EF Hutton; tgt $15
> Guardant Health (GH) initiated with a Sector Outperform at Scotiabank; tgt $36
> HashiCorp (HCP) added as 2023 Top Pick at Oppenheimer
> Illumina (ILMN) initiated with a Sector Perform at Scotiabank; tgt $216
> Karuna Therapeutics (KRTX) initiated with an Overweight at Piper Sandler; tgt $285
> Microsoft (MSFT) initiated with a Buy at DA Davidson; tgt $270
> Nano-X Imaging (NNOX) initiated with an Overweight at Cantor Fitzgerald; tgt $21
> Olink Holding (OLK) initiated with a Sector Outperform at Scotiabank; tgt $27
> R1 RCM (RCM) initiated with a Buy at Canaccord Genuity; tgt $14
> Squarespace (SQSP) initiated with a Peer Perform at Wolfe Research
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