>>> US Research Calls II

Research Calls II

  • Upgrades:
    • AngloGold Ashanti (AU) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $24.20
    • Carter's (CRI) upgraded to Outperform from Neutral at Wedbush; tgt $108
    • TAL Education (TAL) upgraded to Overweight from Underweight at Morgan Stanley; tgt raised to $4.40
    • U.S. Steel (X) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $31
  • Downgrades:
    • DraftKings (DKNG) downgraded to Hold from Buy at Argus
    • PVH (PVH) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $85
    • Ralph Lauren (RL) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $127
    • Sempra Energy (SRE) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
    • STORE Capital (STOR) downgraded to Underperform from Market Perform at BMO Capital Markets; tgt lowered to $29
    • UGI Corp (UGI) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $38
  • Others:
    • BRC Inc. (BRCC) initiated with a Hold at Truist; tgt $20
    • BRC Inc. (BRCC) initiated with an Outperform at Raymond James; tgt $21
    • BRC Inc. (BRCC) initiated with an Outperform at William Blair
    • MicroVision (MVIS) initiated with a Neutral at Cantor Fitzgerald; tgt $5
    • SoFi Technologies (SOFI) initiated with a Neutral at Piper Sandler; tgt $12
    • Super Group (SGHC) initiated with an Outperform at Oppenheimer; tgt $11

>>> US Research Calls

Research Calls

  • Upgrades:
    • Ball Corp (BLL) upgraded to Buy from Neutral at BofA Securities; tgt raised to $108
    • Intellia Therapeutics (NTLA) upgraded to Buy from Hold; tgt $91
    • Lloyds Banking (LYG) upgraded to Neutral from Underperform at BofA Securities
    • NextEra Energy (NEE) upgraded to Overweight from Sector Weight at KeyBanc Capital Markets; tgt $87
    • Nutrien (NTR) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $112
    • Oil States (OIS) upgraded to Overweight from Neutral at Piper Sandler; tgt $8
    • Palantir Technologies (PLTR) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt lowered to $16
    • Youdao (DAO) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $15
  • Downgrades:
    • Bluebirdbio (BLUE) downgraded to Underweight from Equal Weight at Barclays; tgt $4
    • Citigroup (C) downgraded to Hold from Buy at Jefferies; tgt lowered to $60
    • Coherus BioSciences (CHRS) downgraded to Neutral from Overweight at JP Morgan; tgt $15
    • Empire State Realty Trust (ESRT) downgraded to Underperform from Market Perform at BMO Capital Markets; tgt lowered to $8
    • Mosaic (MOS) downgraded to Hold from Buy at HSBC Securities; tgt $57
    • Philip Morris International (PM) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $110
  • Others:
    • NVIDIA (NVDA) resumed with a Neutral at Goldman; tgt $245
    • Paramount Group (PGRE) added to 'Tactical Underperform' list at Evercore ISI; tgt $11
    • Portage Biotech (PRTG) initiated with a Buy at H.C. Wainwright; tgt $32

>>> US Gapping down

Gapping down
In reaction to earnings/guidance:

  • SQSP -23.1%, BLUE -14.2%, EGRX -5.4%, HUN -1.2%

Select Index ETFs showing weakness:

  • DIA -0.7%, QQQ -0.6%, SPY -0.5%, IWM -0.4%

Other news:

  • TPTX -9.3% (discloses that Chief Scientific Officer Siegfried Reich, Ph.D. notified co of his intention to resign)
  • MA -1.6% (issues Statement on Suspension of Russian Operations)
  • RWT -1.1% (files mixed securities shelf offering)
  • GWH -1.1% (files for 130,044,756 share common stock offering by selling shareholders)
  • ROKU -1% (files mixed securities shelf offering)
  • V -1% (suspends all operations in Russia)

Analyst comments:

  • C -2.6% (downgraded to Hold from Buy at Jefferies)
  • CHRS -2.5% (downgraded to Neutral from Overweight at JP Morgan)
  • ESRT -2.5% (downgraded to Underperform from Market Perform at BMO Capital Markets)
  • PM -1.6% (downgraded to Neutral from Overweight at JP Morgan)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance:

  • CIEN +13.3%, VET +7.1%, UBER +3.9%

Select metals/mining stocks trading higher:

  • AU +8.6%, GFI +4.6%, GOLD +2.4%, BHP +2.1%, FCX +2.1%, NEM +1.9%, AUY +1.3%, RIO +1.2%, GLD +0.8%

Select oil/gas related names showing strength:

  • USO +3.5%, OIH +2.9%, HAL +2.9%, SLB +2.6%, PSX +2.6%, XLE +2.1%, BP +2.1%, XOM +1.7%

Other news:

  • BBBY +69.2% (Comments on Letter from RC Ventures)
  • WE +12.2% (reportedly exploring an equity raise in light of recent share losses, according to Bloomberg; issues statement regarding potential equity investment; has "no plans to issue additional equity at this time")
  • LLNW +9.3% (acquires Yahoo's Edgecast for $300 mln)
  • WEAT +9.2% (Teucrium Wheat may suspend creations in WEAT)
  • OXY +9.2% (Warren E. Buffett's Berkshire (BRK.A, BRK.B) discloses 11.2% passive stake)
  • WLL +5.9% (Whiting Petroleum and Oasis (OAS) confirm plans to combine in $6.0 bln merger of equals transaction)
  • VXX +2.3% Trading higher in response to weakness in futures)
  • TPIC +1.9% (files for $200 mln mixed securities shelf offering; also files for 4,666,667 share common stock offering by selling shareholders)
  • AGEN +1.7% (Agenus and Targovax ASA announce that they have entered into a clinical collaboration and supply agreement to combine Targovax's TG mutant KRAS cancer vaccines with Agenus´s clinically validated and FDA approved QS-21 STIMULON adjuvant)
  • LMT +1.3% (wins a $869 mln contract modification to a previously awarded US Navy contract)
  • DAC +1.2% (files mixed securities shelf offering)
  • AVB +1.1% (provides Q1 operating update)

Analyst comments:

  • NTR +3.5% (upgraded to Overweight from Neutral at Piper Sandler)