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Research Calls I
  • Upgrades:
    • Armour Residential REIT (ARR) upgraded to Buy from Hold at Jones Trading, tgt $20.50
    • AutoNation (AN) upgraded to Overweight from Neutral at JPMorgan, tgt $235
    • BioNTech (BNTX) upgraded to Buy from Neutral at Goldman Sachs, tgt $142
    • Callaway Golf Company (CALY) upgraded to Overweight from Sector Weight at KeyBanc Capital Markets; tgt $17
    • Coupang (CPNG) upgraded to Buy from Hold at Deutsche Bank, tgt $25
    • Enbridge (ENB) upgraded to Outperform from Sector Perform at Scotiabank
    • Garmin (GRMN) upgraded to Equal Weight from Underweight at Barclays, tgt $217
    • Grab Holdings (GRAB) upgraded to Buy from Hold at HSBC, tgt $6.20
    • Honeywell (HON) upgraded to Overweight from Neutral at JPMorgan, tgt $255
    • Monster Beverage (MNST) upgraded to Neutral from Underperform at BNP Paribas Exane, tgt $77
    • Rocket Lab (RKLB) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $105
    • Seagate Technology (STX) upgraded to Neutral from Negative at Susquehanna, tgt $280
    • Yeti Holdings (YETI) upgraded to Overweight from Sector Weight at KeyBanc, tgt $57
  • Downgrades:
    • 3M (MMM) downgraded to Neutral from Overweight at JPMorgan, tgt $182
    • Acushnet Holdings (GOLF) downgraded to Sector Weight from Overweight at KeyBanc
    • Afya (AFYA) downgraded to Neutral from Buy at UBS, tgt $16
    • Brown-Forman (BF.B) downgraded to Underperform from Neutral at BNP Paribas Exane, tgt $24
    • Central Garden & Pet (CENTA) downgraded to Underweight from Neutral at JPMorgan, tgt $28
    • Clearwater Analytics (CWAN) downgraded to Neutral from Buy at DA Davidson, tgt $24.55
    • ConocoPhillips (COP) downgraded to Underperform from Neutral at BofA Securities, tgt $102
    • Eastman Chemical (EMN) downgraded to Sector Perform from Outperform at RBC Capital, tgt $70
    • EOG Resources (EOG) downgraded to Sector Weight from Overweight at KeyBanc
    • Ermenegildo Zegna Group (ZGN) downgraded to Neutral from Buy at BofA Securities, tgt $11.20
    • Fortive (FTV) downgraded to Underweight from Neutral at JPMorgan, tgt $57
    • Hilton Grand Vacations (HGV) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $49
    • HP Inc. (HPQ) downgraded to Underweight from Equal Weight at Barclays, tgt $18
    • Iridium Communications (IRDM) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $24
    • J.M. Smucker (SJM) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $105
    • Kraft Heinz (KHC) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $24
    • Logitech International (LOGI) downgraded to Equal Weight from Overweight at Barclays, tgt $98
    • Mach Natural Resources (MNR) downgraded to Sector Weight from Overweight at KeyBanc
    • Marriott Vacations Worldwide (VAC) downgraded to Underweight at Morgan Stanley, tgt $52
    • Melco Resorts & Entertainment (MLCO) downgraded to Neutral from Overweight at JPMorgan, tgt $7.70
    • Meritage Homes (MTH) downgraded to Neutral from Buy at BofA Securities, tgt $82
    • MGM Resorts (MGM) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $33
    • Molson Coors (TAP) downgraded to Underperform from Neutral at BNP Paribas Exane, tgt $40
    • Sanofi (SNY) downgraded to Neutral from Buy at UBS
    • Sasol (SSL) downgraded to Underweight from Neutral at JPMorgan
    • The Honest Company (HNST) downgraded to Underweight from Overweight at JPMorgan
    • Tractor Supply (TSCO) downgraded to Hold from Buy at Truist, tgt $55
    • Volvo (VLVLY) downgraded to Hold from Buy at Kepler Cheuvreux
  • Others:
    • Construction Partners (ROAD) initiated with a Neutral at B. Riley, tgt $117
    • Knife River (KNF) initiated with a Buy at B. Riley, tgt $92
    • Martin Marietta Materials (MLM) initiated with a Neutral at B. Riley, tgt $700
    • Munich Re (MURGY) initiated with a Buy at Kepler Cheuvreux
    • STAAR Surgical (STAA) resumed with an Underweight at Morgan Stanley, tgt $13
    • TFS Financial (TFSL) assumed with a Neutral at Piper Sandler, tgt $15
    • Unity Software (U) initiated with a Buy at Freedom Capital, tgt $52
    • Vulcan Materials (VMC) initiated with a Buy at B. Riley, tgt $345