This report was sent to subscribers earlier today.
Research calls posted earlier this morning are available here.
Upgrades:
> Ageas SA/NV (AGESY) upgraded to Buy from Hold at Berenberg
> AT&T (T) upgraded to Overweight from Equal Weight at Wells Fargo; tgt raised to $22
> Bank of America (BAC) upgraded to Buy from Hold at Odeon; tgt $38.44
> Bio-Techne (TECH) upgraded to Equal Weight from Underweight at Wells Fargo; tgt $90
> Bloom Energy (BE) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $35
> Bumble Inc. (BMBL) upgraded to Overweight from Sector Weight at KeyBanc Capital Markets; tgt $27
> Casella Waste (CWST) upgraded to Buy from Neutral at UBS; tgt raised to $95
> Comerica (CMA) upgraded to Buy from Hold at Odeon; tgt $76.36
> Confluent (CFLT) upgraded to Overweight from Equal Weight at Barclays; tgt lowered to $24
> Covenant Logistics (CVLG) upgraded to Peer Perform from Underperform at Wolfe Research
> DoubleVerify (DV) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $29
> Exxon Mobil (XOM) upgraded to Buy from Neutral at Mizuho; tgt raised to $140
> FMC Corp (FMC) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $145
> Goldman Sachs (GS) upgraded to Hold from Sell at Odeon; tgt $370.14
> KeyCorp (KEY) upgraded to Buy from Hold at Odeon; tgt $20.36
> Keysight (KEYS) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $202
> M&T Bank (MTB) upgraded to Buy from Hold at Odeon; tgt $171.76
> Morgan Stanley (MS) upgraded to Hold from Sell at Odeon; tgt $88.75
> Nabors Industries (NBR) upgraded to Overweight from Equal Weight at Barclays; tgt $200
> NIKE (NKE) upgraded to Outperform from Neutral at KGI Securities; tgt $136
> NXP Semi (NXPI) upgraded to Neutral from Sell at UBS; tgt raised to $167
> ONEOK (OKE) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $75
> PNC (PNC) upgraded to Buy from Hold at Odeon; tgt $176.27
> ProPetro (PUMP) upgraded to Overweight from Equal Weight at Barclays; tgt $14
> Royal Caribbean (RCL) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $50
> Ryder System (R) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $100
> Stem (STEM) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $15
> Swatch (SWGAY) upgraded to Sector Perform from Underperform at RBC Capital Mkts
> Tata Motors (TTM) upgraded to Buy from Neutral at BofA Securities
> Travelers (TRV) upgraded to Outperform from In-line at Evercore ISI; tgt raised to $220
> U.S. Bancorp (USB) upgraded to Buy from Neutral at UBS; tgt raised to $55
> Wells Fargo (WFC) upgraded to Buy from Hold at Odeon; tgt $51.79
Downgrades:
> Air Products (APD) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $335
> Altice USA (ATUS) downgraded to Neutral from Buy at Goldman; tgt lowered to $5
> AZEK (AZEK) downgraded to Neutral from Buy at Citigroup; tgt raised to $23
> Boeing (BA) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt raised to $220
> Box (BOX) downgraded to Underperform from Sector Perform at RBC Capital Mkts; tgt lowered to $24
> C.H. Robinson (CHRW) downgraded to Neutral from Buy at Goldman; tgt lowered to $93
> Canadian Nat’l Rail (CNI) downgraded to Sell from Neutral at Goldman
> Capital One (COF) downgraded to Hold from Buy at Jefferies; tgt lowered to $100
> Chemours (CC) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $33
> Dynatrace (DT) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $39
> EOG Resources (EOG) downgraded to Neutral from Buy at Mizuho; tgt raised to $160
> Ericsson (ERIC) downgraded to Neutral from Outperform at Exane BNP Paribas
> Essilor International (ESLOY) downgraded to Underperform from Sector Perform at RBC Capital Mkts
> Euronav (EURN) downgraded to Hold from Buy at Stifel
> GoDaddy (GDDY) downgraded to Hold from Buy at Jefferies; tgt $80
> Hartford Financial (HIG) downgraded to In-line from Outperform at Evercore ISI; tgt $85
> Hess (HES) downgraded to Neutral from Buy at Mizuho; tgt raised to $164
> Hewlett Packard Enterprise (HPE) downgraded to Equal Weight from Overweight at Barclays; tgt $18
> Invesco (IVZ) downgraded to Neutral from Buy at UBS; tgt raised to $20
> Kimco Realty (KIM) downgraded to Neutral from Buy at Mizuho; tgt lowered to $21
> Klépierre SA (KLPEF) downgraded to Sector Perform from Outperform at RBC Capital Mkts
> Legal & General Group (LGGNY) downgraded to Hold from Buy at Deutsche Bank
> Marathon Oil (MRO) downgraded to Neutral from Buy at Mizuho; tgt $32
> Marathon Petroleum (MPC) downgraded to Neutral from Buy at Mizuho; tgt raised to $133
> Mercer Intl (MERC) downgraded to Neutral from Sector Outperform at CIBC; tgt $13
> NetApp (NTAP) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $71
> NN Group (NNGPF) downgraded to Hold from Buy at Deutsche Bank
> Norwegian Cruise Line (NCLH) downgraded to Underweight from Equal-Weight at Morgan Stanley; tgt $11.50
> Olin (OLN) downgraded to Underweight from Equal-Weight at Morgan Stanley; tgt $50
> ON Semiconductor (ON) downgraded to Mkt Perform from Outperform at William Blair
> Outotec Oyj (OUKPF) downgraded to Neutral from Buy at Citigroup
> PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $89
> Palomar Holdings (PLMR) downgraded to In-line from Outperform at Evercore ISI; tgt $52
> Phillips 66 (PSX) downgraded to Neutral from Buy at Mizuho; tgt raised to $121
> PNC (PNC) downgraded to Neutral from Buy at UBS; tgt lowered to $176
> PPG Industries (PPG) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt raised to $129
> Ranger Energy Services (RNGR) downgraded to Equal Weight from Overweight at Barclays; tgt $14
> Rayonier Adv. Materials (RYAM) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $8
> RBC Bearings (RBC) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $220
> Regions Fincl (RF) downgraded to Neutral from Buy at UBS; tgt $24
> Republic Services (RSG) downgraded to Neutral from Buy at UBS
> SITE Centers (SITC) downgraded to Neutral from Buy at Mizuho; tgt lowered to $13
> Southwestern Energy (SWN) downgraded to Neutral from Buy at Mizuho; tgt lowered to $9
> St James’s Place PLC (STJPF) downgraded to Hold from Buy at Deutsche Bank
> Suncor Energy (SU) downgraded to Equal Weight from Overweight at Wells Fargo
> Ultra Clean Holdings (UCTT) downgraded to Hold from Buy at Craig Hallum; tgt $32
> US Cellular (USM) downgraded to Underweight from Overweight at Wells Fargo; tgt lowered to $20
> Valeo SA (VLEEY) downgraded to Neutral from Buy at Goldman
> Waste Mgmt (WM) downgraded to Neutral from Buy at UBS; tgt lowered to $165
> ZoomInfo (ZI) downgraded to Hold from Buy at Truist; tgt lowered to $28
Others:
> Air France-KLM (AFLYY) initiated with an Equal-Weight at Morgan Stanley
> AT&T (T) placed on Positive Catalyst Watch at Citigroup
> Deutsche Lufthansa AG (DLAKY) initiated with an Underweight at Morgan Stanley
> Devon Energy (DVN) assumed with a Buy at Mizuho; tgt lowered to $82
> Diamondback Energy (FANG) assumed with a Buy at Mizuho; tgt lowered to $195
> DISH Network (DISH) resumed with a Neutral at Goldman; tgt $14
> Earthstone Energy (ESTE) initiated with a Neutral at Mizuho; tgt $19
> easyJet (ESYJY) initiated with an Equal-Weight at Morgan Stanley
> EQT Corp. (EQT) assumed with a Buy at Mizuho; tgt raised to $64
> Equinix (EQIX) placed on Positive Catalyst Watch at Citigroup
> Fulton Fincl (FULT) initiated with a Neutral at Janney; tgt $19.50
> Gulfport Energy (GPOR) initiated with a Neutral at Mizuho; tgt $92
> Magnolia Oil & Gas (MGY) initiated with a Buy at Mizuho; tgt $32
> Matador Resources (MTDR) initiated with a Neutral at Mizuho; tgt $70
> Murphy Oil (MUR) assumed with a Buy at Mizuho; tgt lowered to $51
> Occidental Petro (OXY) assumed with a Buy at Mizuho; tgt raised to $82
> Ovintiv (OVV) assumed with a Buy at Mizuho; tgt raised to $68
> PBF Energy (PBF) assumed with a Buy at Mizuho; tgt raised to $50
> PDC Energy (PDCE) initiated with a Buy at Mizuho; tgt $97
> Permian Resources (PR) initiated with a Neutral at Mizuho; tgt $13
> Pioneer Natural Resources (PXD) assumed with a Buy at Mizuho; tgt $294
> Porsche (POAHY) resumed with a Buy at Goldman
> Range Resources (RRC) assumed with a Neutral at Mizuho; tgt lowered to $32
> Ryanair Hldgs (RYAAY) initiated with an Overweight at Morgan Stanley
> SM Energy (SM) initiated with a Buy at Mizuho; tgt $51
> Tempur Sealy Int’l (TPX) added to Best Ideas List at Wedbush; tgt raised to $45
> Valero Energy (VLO) assumed with a Buy at Mizuho; tgt raised to $157
> Virgin Galactic (SPCE) initiated with an Equal-Weight at Morgan Stanley; tgt $4
> Warner Bros. Discovery (WBD) added to US1 List at BofA Securities
> Watsco (WSO) initiated with a Neutral at UBS; tgt $280
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