BROKER MOVES: FTNT upgraded at TD Cowen; SCCO downgraded at JPM
Today’s broker moves show a significant upgrade for Fortinet (FTNT) to Buy at TD Cowen, which reflects increased confidence in its growth trajectory and could signal a short-term positive bias in its share price.
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BROKER MOVES: FTNT upgraded at TD Cowen; SCCO downgraded at JPM
US PRE-MARKET MOVERS: NVDA, INTC, CSX, ISRG, SPOT, SLB, AMZN, DIS, CI, COF
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UPGRADES
- Acushnet (GOLF) Upgraded to Neutral at JPMorgan; PT USD 96
- Applied Materials (AMAT) Upgraded to Buy at Deutsche Bank; PT USD 390
- Darden (DRI) Upgraded to Buy at Melius
- Darden (DRI) Upgraded to Outperform at Mizuho Securities; PT USD 235
- Fortinet (FTNT) Upgraded to Buy at TD Cowen; PT USD 100
- P&G (PG) Upgraded to Buy at DBS Bank; PT USD 167
- P&G (PG) Upgraded to Overweight at JPMorgan; PT USD 165
- Redwood Trust (RWT) Upgraded to Overweight at JPMorgan; PT USD 6
- RLI (RLI) Upgraded to Hold at Jefferies; PT USD 52
- Spotify (SPOT) Upgraded to Buy at Goldman; PT USD 700
- Starbucks (SBUX) Upgraded to Outperform at William Blair
- Stepan (SCL) Upgraded to Buy at Seaport Global Securities; PT USD 75
DOWNGRADES
- Axalta (AXTA) Downgraded to Neutral at Seaport Global Securities
- BJ's Wholesale (BJ) Downgraded to Hold at Melius; PT USD 100
- Cleveland-Cliffs (CLF) Downgraded to Neutral at Seaport Global Securities
- Confluent (CFLT) Downgraded to Market Perform at Bernstein
- Entegris (ENTG) Downgraded to Neutral at Seaport Global Securities
- FB Financial (FBK) Downgraded to Neutral at Piper Sandler; PT USD 65
- Inspire Medical (INSP) Downgraded to Hold at Truist Secs; PT USD 96
- Li Auto (LI) ADRs Downgraded to Hold at Jefferies; PT USD 17.50
- Materion (MTRN) Downgraded to Neutral at Seaport Global Securities
- OFG Bancorp (OFG) Downgraded to Market Perform at KBW; PT USD 43
- Quaker Houghton (KWR) Downgraded to Neutral at Seaport Global Securities
- Safehold Inc (SAFE) Downgraded to Underweight at Morgan Stanley; PT USD 14
- Sherwin-Williams (SHW) Downgraded to Hold at Deutsche Bank
- Southern Copper (SCCO) Downgraded to Underweight at JPMorgan; PT USD 117.50
- Trade Desk (TTD) Downgraded to Market Perform at Citizens
- Two Harbors (TWO) Downgraded to Neutral at UBS; PT USD 14
- Wolverine World Wide (WWW) Downgraded to Neutral at BNP Paribas
INITIATIONS
- Bandwidth (BAND) Initiated at New Buy at B Riley; PT USD 20
- Centuri Holdings (CTRI) Initiated at New Overweight at Cantor; PT USD 34
- Coherus Oncology (CHRS) Initiated at New Outperform at Oppenheimer
- Decoy Therapeutics Inc (DCOY) Initiated at New Buy at Ladenburg Thalmann
- eGain Corp (EGAN) Initiated at New Neutral at B Riley; PT USD 10.50
- Elf Beauty (ELF) Reinstated Buy at Citi; PT USD 110
- Everus Construction Group (ECG) Initiated at New Neutral at Cantor; PT USD 97
- Heico (HEI) Initiated at New Neutral at Susquehanna; PT USD 385
- Heritage Distilling Holding (IPST) US Initiated at New Buy at Roth Capital Partners; PT USD 8.20
- Hinge Health (HNGE) Initiated at New Buy at Freedom Capital; PT USD 59
- Insmed (INSM) Initiated at New Buy at Roth Capital Partners; PT USD 212
- MasTec (MTZ) Initiated at New Overweight at Cantor; PT USD 274
- Melco Resorts (MLCO) ADRs Initiated at New Buy at Texas Capital; PT USD 11.50
- Mirion Technologies (MIR) Initiated at New Equal-Weight at Morgan Stanley
- MYR Group (MYRG) Initiated at New Overweight at Cantor; PT USD 285
- N-able (NABL) Initiated at New Buy at B Riley; PT USD 10
- Powell Industries (POWL) Initiated at New Neutral at Cantor; PT USD 427
- Primoris Services (PRIM) Initiated at New Neutral at Cantor; PT USD 160
- Quanta Services (PWR) Initiated at New Overweight at Cantor; PT USD 520
- Sterling Infrastructure (STRL) Initiated at New Overweight at Cantor; PT USD 413
- VTV Therapeutics (VTVT) Reinstated Buy at Roth Capital Partners; PT USD 58
Context
Conversely, Southern Copper (SCCO) faces a downgrade to Underweight at JPMorgan, indicating a potential reassessment of its valuation amid broader market dynamics, which may weigh on its stock moving forward.
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