>>> US Research Calls I

Research Calls I
  • Upgrades:
    • Affirm (AFRM) upgraded to Buy from Neutral at BTIG Research; tgt $68
    • CEMEX S.A. (CX) upgraded to Sector Perform from Underperform at RBC Capital Mkts; tgt lowered to $6.50
    • Humana (HUM) upgraded to Outperform from Mkt Perform at Bernstein; tgt $308
    • Sun Country Airlines (SNCY) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $14
    • Ubisoft (UBSFY) upgraded to Neutral from Sell at UBS
    • UWM Holdings (UWMC) upgraded to Equal Weight from Underweight at Barclays; tgt raised to $8
    • Waters (WAT) upgraded to Buy from Hold at Jefferies; tgt raised to $415
    • Wells Fargo (WFC) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $65
  • Downgrades:
    • American Express (AXP) downgraded to Sell from Neutral at BTIG Research; tgt $230
    • American Express (AXP) downgraded to Hold from Buy at HSBC Securities; tgt raised to $270
    • Anheuser-Busch InBev (BUD) downgraded to Hold from Buy at TD Cowen; tgt $88
    • CME Group (CME) downgraded to Neutral from Buy at Redburn Atlantic; tgt $244
    • Constellation Brands (STZ) downgraded to Hold from Buy at TD Cowen; tgt lowered to $270
    • Frontier Communications Parent (FYBR) downgraded to Hold from Buy at TD Cowen
    • Microsoft (MSFT) downgraded to Perform from Outperform at Oppenheimer
    • OneMain Holdings (OMF) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $46
    • Otis Worldwide (OTIS) downgraded to Peer Perform from Outperform at Wolfe Research
    • Qualcomm (QCOM) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
    • Synaptics (SYNA) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
  • Others:
    • Abbott Labs (ABT) initiated with an Outperform at Oppenheimer; tgt $130
    • ACRES Commercial Realty (ACR) initiated with a Hold at JonesResearch
    • Arcellx (ACLX) initiated with a Buy at Redburn Atlantic; tgt $109
    • Arcus Biosciences (RCUS) initiated with an Overweight at Wells Fargo; tgt $29
    • Barclays PLC (BCS) initiated with a Buy at Goldman
    • Bicara Therapeutics (BCAX) initiated with a Buy at Stifel; tgt $47
    • Bicara Therapeutics (BCAX) initiated with an Overweight at Morgan Stanley; tgt $35
    • Bicara Therapeutics (BCAX) initiated with a Buy at TD Cowen
    • Cloudflare (NET) initiated with an Underperform at Exane BNP Paribas; tgt $65
    • CrowdStrike (CRWD) initiated with a Neutral at Exane BNP Paribas; tgt $285
    • Curbline Properties (CURB) initiated with a Neutral at Citigroup; tgt $25
    • Datadog (DDOG) initiated with an Outperform at Exane BNP Paribas; tgt $150
    • Dynatrace (DT) initiated with a Neutral at Exane BNP Paribas; tgt $52
    • Envista (NVST) initiated with an Equal Weight at Wells Fargo; tgt $20
    • First National (FXNC) initiated with an Outperform at Hovde Group; tgt $22
    • Genmab (GMAB) initiated with a Buy at Redburn Atlantic
    • Howmet Aerospace (HWM) initiated with a Positive at Susquehanna; tgt $120
    • Legend Biotech (LEGN) initiated with a Buy at Redburn Atlantic; tgt $86
    • MBX Biosciences (MBX) initiated with a Buy at Stifel; tgt $40
    • MBX Biosciences (MBX) initiated with a Buy at Guggenheim; tgt $44
    • MBX Biosciences (MBX) initiated with a Buy at Jefferies; tgt $35
    • MBX Biosciences (MBX) initiated with an Overweight at JP Morgan; tgt $30
    • Morningstar (MORN) initiated with a Buy at UBS; tgt $390
    • Samsara (IOT) initiated with a Neutral at Exane BNP Paribas; tgt $46
    • Solventum Corporation (SOLV) initiated with a Buy at Stifel; tgt $82
    • Veeva Systems (VEEV) initiated with an Outperform at Exane BNP Paribas; tgt $286
    • Zenas Biopharma (ZIBO) initiated with an Overweight at Morgan Stanley; tgt $40
    • Zenas Biopharma (ZBIO) initiated with a Buy at Guggenheim; tgt $45
    • Zenas Biopharma (ZBIO) initiated with a Buy at Citigroup; tgt $27
    • Zenas Biopharma (ZBIO) initiated with a Buy at Jefferies; tgt $35
    • Zscaler (ZS) initiated with a Neutral at Exane BNP Paribas; tgt $180