This report was sent to Briefing.com subscribers earlier today.
Research calls posted earlier this morning are available here.
Upgrades:
> Compania Cervecerias Unidas (CCU) upgraded to Overweight from Neutral at JP Morgan
> PagerDuty (PD) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $36
> Par Pacific (PARR) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $33
> Ralph Lauren (RL) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $134
> Regeneron Pharma (REGN) upgraded to Overweight from Neutral at JP Morgan; tgt $850
Downgrades:
> Continental AG (CTTAY) downgraded to Hold from Buy at Jefferies
> Delek US Holdings (DK) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $32
> Innovative Industrial Properties (IIPR) downgraded to Mkt Perform from Mkt Outperform at JMP Securities
> LCI Industries (LCII) downgraded to Hold from Buy at Jefferies; tgt lowered to $95
> Michelin (MGDDY) downgraded to Sector Perform from Outperform at RBC Capital Mkts
> Mosaic (MOS) downgraded to Neutral from Buy at Citigroup; tgt lowered to $50
> Nordstrom (JWN) downgraded to Reduce from Hold at Gordon Haskett; tgt lowered to $13
> Pacific Biosciences (PACB) downgraded to Neutral from Overweight at Cantor Fitzgerald; tgt $12
> RHEINMETALL AG (RNMBY) downgraded to Neutral from Buy at UBS
> Riskified (RSKD) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
> Spirent Comms (SPMYY) downgraded to Hold from Buy at Canaccord Genuity
> Squarespace (SQSP) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
Others:
> Allstate (ALL) initiated with a Market Perform at BMO Capital Markets; tgt $130
> Aon (AON) initiated with a Market Perform at BMO Capital Markets; tgt $310
> Chubb (CB) initiated with a Market Perform at BMO Capital Markets; tgt $225
> Cincinnati Fincl (CINF) initiated with a Market Perform at BMO Capital Markets; tgt $106
> Everest Re (RE) initiated with a Market Perform at BMO Capital Markets; tgt $380
> Hanover Insurance (THG) initiated with a Market Perform at BMO Capital Markets; tgt $141
> Hartford Financial (HIG) initiated with a Market Perform at BMO Capital Markets; tgt $77
> Kinsale Capital (KNSL) initiated with an Underperform at BMO Capital Markets; tgt $230
> Lemonade (LMND) initiated with an Underperform at BMO Capital Markets; tgt $10
> Marinus Pharmaceuticals (MRNS) initiated with an Outperform at RBC Capital Mkts; tgt $23
> Marsh McLennan (MMC) initiated with a Market Perform at BMO Capital Markets; tgt $168
> MediaAlpha (MAX) initiated with a Market Perform at BMO Capital Markets; tgt $10
> Mersana Therapeutics (MRSN) initiated with a Buy at Citigroup; tgt $12
> RenaissanceRe (RNR) initiated with a Market Perform at BMO Capital Markets; tgt $187
> Selective Insurance (SIGI) initiated with a Market Perform at BMO Capital Markets; tgt $90
> Sigma Lithium (SGML) initiated with an Outperform at BMO Capital Markets
> Visa (V) initiated with an Outperform at CICC; tgt $267.79
> W.R. Berkley (WRB) initiated with a Market Perform at BMO Capital Markets; tgt $76
> Wayfair (W) initiated with a Sector Weight at KeyBanc Capital Markets
> Willis Towers Watson (WTW) initiated with a Market Perform at BMO Capital Markets; tgt $260
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