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BROKER MOVES: INTC sees a couple of upgrades; XYL downgraded at UBS

Intel receiving multiple upgrades suggests a bullish sentiment shift in the semiconductor sector, indicating strong expected performance relative to peers.

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Goldman Sachs (GS) CEO Solomon says it is very reasonable oil at USD 80-100/bbl in 3-6 months

Head of the Iranian Parliament's National Security Committee, "If the enemy does not understand diplomacy, then the battlefield will shift the balances", Al Jazeera reports, citing IRNA

BROKER MOVES: INTC sees a couple of upgrades; XYL downgraded at UBS

US ADP Employment Change Weekly (w/e Apr 4th) 54.75K (prev. 39.3k, revised 40.3k); fifth straight week of improvement in hiring

Chairman of the joint chiefs General Caine reiterates, ready to resume major combat operations against Iran in a moment's notice, Axios' Ravid reports

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Upgrades:

  • Arrowhead Pharmaceuticals (ARWR) Upgraded from Equalweight to Overweight at Morgan Stanley; PT USD 100
  • Ball (BALL) Upgraded from Market Perform to Outperform at Raymond James; PT USD 73
  • Colgate-Palmolive (CL) Upgraded from Neutral to Buy at Rothschild Redburn; PT USD 100
  • Intel (INTC) Upgraded from Hold to Buy at HSBC; PT USD 95
  • Intel (INTC) Upgraded from Underperform to Neutral at BNP Paribas; PT USD 60
  • Kforce (KFRC) Upgraded from Market Perform to Outperform at William Blair
  • Ramaco Resources (METC) Upgraded from Sell to Neutral at Goldman Sachs; PT USD 15.00
  • Robert Half (RHI) Upgraded from Market Perform to Outperform at William Blair

Downgrades:

  • Capital City Bank Group (CCBG) Downgraded from Buy to Neutral at Brean Capital
  • Exxon (XOM) Downgraded from Outperform to Peerperform at Wolfe Research
  • Graphic Packaging (GPK) Downgraded from Market Perform to Underperform at Raymond James
  • Passage Bio (PASG) Downgraded from Buy to Neutral at Chardan; PT USD 7
  • Passage Bio (PASG) Downgraded from Outperform to Neutral at Wedbush; PT USD 8
  • Spotify (SPOT) Downgraded from Buy to Accumulate at IndeRes; PT USD 595
  • TopBuild (BLD) Downgraded from Overweight to Neutral at JPMorgan; PT USD 496
  • Valero Energy (VLO) Downgraded from Peerperform to Underperform at Wolfe Research; PT USD 203
  • Xylem (XYL) Downgraded from Buy to Neutral at UBS; PT USD 132

Initiations:

  • Ambiq Micro (AMBQ) Initiated at Outperform at Northland; PT USD 44
  • Astera Labs (ALAB) Initiated at Neutral at UBS; PT USD 180
  • CAVA Group (CAVA) Initiated at Sell at Northcoast; PT USD 63
  • Circle (CRCL) Initiated at Hold at Freedom Capital Markets; PT USD 120
  • Custom Truck One Source (CTOS) Initiated at Overweight at Cantor Fitzgerald; PT USD 11
  • Dynatrace (DT) Initiated at Buy at Goldman Sachs; PT USD 45
  • Elastic (ESTC) Initiated at Neutral at Goldman Sachs; PT USD 50
  • First Tracks Biotherapeutics (TRAX) Initiated at Buy at UBS; PT USD 45
  • Medicus Pharma (MDCX) Initiated at Buy at Roth/MKM; PT USD 9
  • Palo Alto (PANW) Initiated at Buy at Berenberg; PT USD 215
  • Reddit (RDDT) Initiated at Buy at DA Davidson; PT USD 200
  • Strive Asset Management (ASST) Initiated at Buy at HC Wainwright; PT USD 36
  • Surrozen (SRZN) Initiated at Buy at TD Cowen
  • Versigent (VGNT) Initiated at Outperform at Evercore ISI; PT USD 55
Context

Conversely, Xylem's downgrade reflects a bearish outlook, which could weigh on the stock and its sector, particularly if it prompts investors to reassess the fundamentals of related companies. This dual movement may create trading opportunities based on relative performance expectations.

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